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We extract fees, Item 19 financials, franchisee contacts, SBA default rates, litigation, and outlet data from every FDD — so you can compare brands in minutes, not months. Used by multi-unit operators, consultants, and franchise development teams.

Top Rail

Top Rail

Top Rail Fence franchises enable operators to sell, furnish, install, stain, and paint wood, steel, aluminum, vinyl, and other types of fencing, along with related garden products and approved services. Franchisees serve residential and commercial customers within designated territories using the proprietary TOP RAIL® brand, system, and standards. The franchisor's business model involves granting franchise rights to qualified individuals or entities, with options for single or multi-unit operations requiring initial investments between $161,444 and $297,444 for a single unit.

167locations
$161K–$297K
Since 2022
ServicesHuntersville, NCHFB Franchisor Holdings, LLCwww.toprailfence.comDisclaimer

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Franchise Costs

Franchise Fee
$59,900
Initial Investment
$161,444 – $297,444
Royalty Rate
6.00%
Brand Fund
1.00%
Fixed Monthly Fees
$1,348 – $1,348

Blended 6%-4% tiered royalty + 1% brand fund + $500/mo marketing management + $599/mo technology + $249/mo online local presence

Financial Performance


Item 19 Financial Performance

Average Gross Revenue
$1,251,268.95
Median Gross Revenue
$1,054,051
Top Quartile Revenue
$2,228,190
Bottom Quartile Revenue
$496,677
Average Gross Profit
$409,665.45

Data Based On: 20 Top Rail Fence franchisees operating in 71 territories that were operational and reported Revenue in all 12 months during the Measurement Period.

* Calculated weighted average gross revenue: (7 units × $2,228,190 + 7 units × $921,141 + 6 units × $496,677) / 20 total units = $1,251,268.95. Calculated weighted average gross profit margin: (7 units × 42.8% + 7 units × 33.0% + 6 units × 20.7%) / 20 total units = 32.74%. Average gross profit is calculated as weighted average gross revenue * weighted average gross profit margin = $1,251,268.95 * 0.3274 = $409,665.45.

Extracted Item 19 Section

Avg. Revenue: $1,251,269

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Top Rail Franchise Analysis

In the competitive home services sector, Top Rail Fence has surged ahead with remarkable expansion since launching franchising just a few years ago. Item 19 discloses revenue performance across its network, while a stack of SBA loans hints at how owners are financing their starts. But with high activity in transfers and a single termination amid rapid scaling, is this fence builder's model built to last—or just riding a post-pandemic boom?

Item 7 in the 2025 FDD outlines a single-unit entry at $161,444 to $297,444, including a steep $59,900 franchise fee that's premium for a brand franchising since 2022. Ongoing fees blend a tiered royalty dropping from 6% to 4%, plus 1% brand fund, and notable monthly add-ons: $500 for marketing management, $599 technology fee, and $249 online presence—totaling about $1,348 monthly extras that could pressure cash flow early on. Item 19 shines brightly with average gross revenues of $1,251,269 and median $1,054,051, suggesting strong top-line potential for fence installers serving residential and commercial clients in exclusive territories.

System metrics paint a picture of aggressive growth: from 93 locations in 2023 to 167 in 2024 (+80%), with 44 projected new units, 17 transfers, and only 1 termination—low churn for a young network headquartered in Huntersville, NC. SBA data shows 23 loans averaging $161,874, aligning with low-end investment and indicating accessible financing without sky-high defaults. For hands-on operators eyeing home services, the revenue scale tempts, but those layered fees and new-brand risks mean scrutinizing local market demand for wood, vinyl, and steel fencing before committing; proven unit economics could make it a fence-line winner.

Analysis based on the 2025 Franchise Disclosure Document. All figures should be independently verified before making investment decisions.

How Top Rail Compares

Key Insights

  • Higher investment than 78% of Home Services franchises
  • Higher than average SBA loan default rate in Home Services
FranchiseInvestmentFeeRoyaltyLocations
Top Rail
Current
$161K – $297K$60K6.0%167
MERRY MAIDS$127K – $166K$55K7.0%933
HOLIDAY LIGHTING HEROES$136K – $164K$118K10.0%672
MOSQUITO AUTHORITY$54K – $128K$45K10.0%546
Culligan$130K – $814K$40K2.0%460
MOSQUITO JOE$150K – $192K$43K10.0%415
Home Services Average
136 franchises
$142K – $269K$52K6.9%

* Comparison based on latest FDD filings. Investment ranges from Item 7, fees from Item 5. Showing top 5 of 136 Home Services franchises by location count.

Locations & Growth


Outlet Growth Over Time

Total outlets at end of each year

Geographic Distribution (2024)

Outlets by state across the United States

Top States
1TX
27
2FL
18
3TN
14
4NC
14
5GA
13
6SC
10
7CO
10
8OH
7
9MI
6
10WA
5
11KS
4
12IL
4
13CT
4
14AL
3
15IN
3

+13 more states

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SBA Loan History


Historical SBA 7(a) loan data for Top Rail franchisees (20232025)

Total Loans
23
Average Loan
$161,874
Total Volume
$3.7M
Default Rate
0.0%

Loans by Year

SBA 7(a) loan activity over time

* Data sourced from SBA 7(a) FOIA loan records. Default rate calculated from charged-off loans.

23 SBA loans on record

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Franchisee Contacts

4 franchisee contacts on file from official FDD filings.

4 Contacts Available

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Due Diligence


Litigation (Item 3)

Franchisee Cases0
No litigation involving franchisees reported

Bankruptcy (Item 4)

Bankruptcy HistoryNo
No bankruptcy history reported

System Health (Item 20)

Franchise system changes reported in the most recent fiscal year

Terminations
1
Non-Renewals
0
Reacquired
0
Ceased Ops
0
Transfers
17
Sold to Franchisees
0
Projected New
44

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Frequently Asked Questions

The total initial investment to open a Top Rail franchise ranges from $161,444 to $297,444. This includes a franchise fee of $59,900. Ongoing royalty fees are 6.0% of gross sales.