Steel Coated Floors franchise
2023 filing · March 16, 2023GrowingShares sales figures
Steel Coated Floors at a glance
An epoxy floor coating business finishing garage, basement and commercial floors. At the end of 2022 there were 35 Steel Coated Floors locations in the US, 34 franchised and 1 company-owned.
The business
- Industry
- Home service
- Franchisor
- Steel Coated Floors Franchising, LLC
- The company that sells the franchises
- Franchising since
- 2018
- 5 years of selling franchises
- Franchisor based in
- Ogden, Utah
What you pay
- Cost to open
- $44K–$156K
- Fee, build-out and opening working capital
- Franchise fee
- $12K–$17K
- Made up of $1,500 plus 5 cents per resident of the territory, which typically holds 200,000 to 300,000 people
- Royalty
- 6% + minimum
- The greater of 6% of gross sales or a monthly minimum of $1,000 for one to three territories (higher for more), paid monthly
- Brand fund
- Yes
- 2% of gross sales for the first six months, then 2% or a monthly minimum, whichever is more
- Renewal fee
- $2,500
- When the agreement ends and you sign again
- Agreement length
- 5 years
- Territory
- Protected
- Protected territory
- Franchisor financing
- Some financing offered
Where it is
- US locations, 2022
- 35
- Franchised and company-owned
- Franchised
- 34
- Company-owned
- 1
- Change in 3 years
- +26
- Franchised locations, 2020–2022
- States
- 12
- Most in Utah, Florida and Arizona
From Steel Coated Floors Franchising, LLC’s 2023 filing; revenue and net income from its audited financial statements, page 61; SBA status from the SBA Franchise Directory, October 28, 2026.
Franchisor revenue is the company that sells the franchises (royalties, fees and anything else it earns), not what a location makes.
Where it ranks
Steel Coated Floors among all franchises with the same figure.
| Figure | Steel Coated Floors | Among all franchises |
|---|---|---|
| Cost to open, midpointHalfway between the low and high estimate | $99,850 | Costs less than 87% of franchises |
| Franchise feePaid once, when you sign | $11,500 | Lower than 95% of franchises |
| RoyaltyShare of sales paid to the franchisor | 6% | Higher than 35% of brands with a set rate |
| US locationsFranchised and company-owned | 35 | More than 59% of franchises |
How much a Steel Coated Floors franchise costs
Opening one Steel Coated Floors costs an estimated $44,000 to $155,700. That covers the franchise fee and everything else needed to open, through the first months of working capital. It is one of the franchises under $50K.
The biggest costs are vehicle, trailer, or other equipment ($0 to $50,000) and equipment package ($13,500 to $25,000). Here is every line of the estimate as filed:
| What it pays for | Range | Low | High |
|---|---|---|---|
| Initial Franchise Fee | $11,500 | $16,500 | |
| Lease Deposit | $0 | $3,000 | |
| Leasehold Improvements | $0 | $10,000 | |
| Equipment Package | $13,500 | $25,000 | |
| Initial Inventory | $3,000 | $6,000 | |
| Vehicle, Trailer, or Other Equipment | $0 | $50,000 | |
| Marketing Kit | $3,500 | ||
| Grand Opening Advertising | $2,500 | ||
| Initial Training Fee | $5,000 | ||
| Training Expenses | $1,500 | $9,500 | |
| Computer Equipment | $0 | $2,000 | |
| Signage | $0 | $2,500 | |
| Territory Mapping | $1,500 | ||
| Licenses and Professional Services | $0 | $2,000 | |
| Prepaid Insurance Premium | $0 | $4,500 | |
| Additional Funds – 3 Months | $2,000 | $12,000 | |
| Total | $44,000 | $155,700 | |
Source: Steel Coated Floors Franchising, LLC, 2023 filing, page 16
Steel Coated Floors franchise fee
The franchise fee is $11,500 to $16,500, made up of $1,500 plus 5 cents per resident of the territory, which typically holds 200,000 to 300,000 people. You pay it when you sign the franchise agreement.
Source: Steel Coated Floors Franchising, LLC, 2023 filing, page 16
Royalty and ongoing fees
| Royalty | The greater of 6% of gross sales or a monthly minimum of $1,000 for one to three territories (higher for more), paid monthly. |
|---|---|
| Brand or marketing fund | 2% of gross sales for the first six months, then 2% or a monthly minimum, whichever is more. |
| Renewal Fee (Franchise Agreement Only) | $2,500 |
The typical franchise royalty is 6% of sales, plus 2% for marketing. See franchise fees and royalties to compare.
Source: Steel Coated Floors Franchising, LLC, 2023 filing, pages 9 and 11
Other fees as filed, from page 13. The filing lists every fee, including late fees and audit costs.
Sales and earnings
Shares figures Steel Coated Floors publishes sales or earnings figures for its locations. The full tables, with notes on which locations are counted, are in its filing.
- Average sales
- $186,799
- Median sales
- $126,026
Yearly figures for 2022, per franchisee, 14 franchisees (31 territories) operating at the start of 2022.
Sales are what the business takes in before rent, payroll, royalties and other costs, not what its owner keeps.
Source: Steel Coated Floors Franchising, LLC, 2023 filing, pages 47–48
Growth and closures
Share of franchised locations, 2022 / 2020–2022. Typical means the median: half of brands are above it, half below.
| Measure | Steel Coated Floors | Typical home service brand | Typical franchise |
|---|---|---|---|
| GrowthNet change in franchised locations | 0% / +325% | +2.1% / +15% | +1.2% / +10% |
| ClosuresTerminated, not renewed or stopped operating | 0% / 0% | 5.3% / 20% | 3.9% / 16% |
| Bought backLocations the franchisor took back | 0% / 0% | 0% / 0% | 0% / 0% |
Typical home service brand is the median of the 180 brands in home service franchises with three years of counts.
How Steel Coated Floors compares
Of the 475 home service franchises on this site, Steel Coated Floors is the 36th cheapest to open and the 233rd largest by number of locations.
| Figure | Steel Coated Floors | Typical home service brand | Typical franchise |
|---|---|---|---|
| Cost to open, low end | $44K | $115K | $222K |
| Cost to open, high end | $156K | $202K | $477K |
| Franchise fee | $12K | $50K | $40K |
| Royalty | 6% | 7% | 6% |
| US locations | 35 | 40 | 21 |
| Shares earnings figures | Yes | 367 of 475 | 2,147 of 3,352 |
Typical is the median across the 475 brands in home service franchises; typical franchise, across every brand here.
Locations opened and closed
| Year | Franchised | Company-owned | Opened | Closed |
|---|---|---|---|---|
| 2020 | 17 (+9) | 1 | +9 | 0 |
| 2021 | 34 (+17) | 1 | +17 | 0 |
| 2022 | 34 (0) | 1 | 0 | 0 |
Closed or left counts terminations, non-renewals, locations bought back by the franchisor and locations that stopped operating.
See which brands grew most in the fastest-growing franchises rankings.
More in the guides: franchise failure rates.
Source: Steel Coated Floors Franchising, LLC, 2023 filing, page 51
Where Steel Coated Floors locations are
At the end of 2022, Steel Coated Floors had locations in 12 states. The most are in Utah, Florida and Arizona.
- Utah11
- Florida6
- Arizona4
- Idaho3
- Nevada2
- North Carolina2
| State | Franchised | Company-owned | Total |
|---|---|---|---|
| Utah | 10 | 1 | 11 |
| Florida | 6 | 0 | 6 |
| Arizona | 4 | 0 | 4 |
| Idaho | 3 | 0 | 3 |
| Nevada | 2 | 0 | 2 |
| North Carolina | 2 | 0 | 2 |
| South Carolina | 2 | 0 | 2 |
| Indiana | 1 | 0 | 1 |
| Louisiana | 1 | 0 | 1 |
| New Hampshire | 1 | 0 | 1 |
Source: Steel Coated Floors Franchising, LLC, 2023 filing, page 52
Who owns Steel Coated Floors?
Steel Coated Floors franchises are sold by Steel Coated Floors Franchising, LLC. Its filing names no parent company.
From Steel Coated Floors Franchising, LLC’s 2023 filing, page 6.
Lawsuits and bankruptcy
| Lawsuits and regulatory actions | None. The filing says no litigation has to be disclosed. |
|---|---|
| Bankruptcy | None. The filing says no bankruptcy has to be disclosed. |
Franchisors must disclose lawsuits and bankruptcies involving the company, its parents and affiliates, and its executives. Many cases are routine disputes with franchisees over fees or contracts; read the descriptions in the filing and ask current owners about anything that worries you.
Source: Steel Coated Floors Franchising, LLC, 2023 filing, litigation on page 8, bankruptcy on page 8
Steel Coated Floors filings
The figures on this page come from Steel Coated Floors Franchising, LLC’s 2023 filing, issued March 16, 2023, on record with the NASAA Electronic Filing Depository.
| Filing | Issued | Registry | On this page |
|---|---|---|---|
| 2023 filing | March 16, 2023 | NASAA depository | Costs, fees and locations, 2020–2022 |
Each link opens the filing as a PDF. See the newest filings across all brands.
