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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.
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Franchise Costs
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
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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Unlock financial performance dataTop 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
| Franchise | Investment | Fee | Royalty | Locations |
|---|---|---|---|---|
Top Rail Current | $161K – $297K | $60K | 6.0% | 167 |
| MERRY MAIDS | $127K – $166K | $55K | 7.0% | 933 |
| HOLIDAY LIGHTING HEROES | $136K – $164K | $118K | 10.0% | 672 |
| MOSQUITO AUTHORITY | $54K – $128K | $45K | 10.0% | 546 |
| Culligan | $130K – $814K | $40K | 2.0% | 460 |
| MOSQUITO JOE | $150K – $192K | $43K | 10.0% | 415 |
Home Services Average 136 franchises | $142K – $269K | $52K | 6.9% | – |
* 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
+13 more states
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Unlock location growth dataSBA Loan History
Historical SBA 7(a) loan data for Top Rail franchisees (2023 – 2025)
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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Unlock SBA loan historyFranchisee Contacts
4 franchisee contacts on file from official FDD filings.
4 Contacts Available
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Unlock contactsDue Diligence
Litigation (Item 3)
Bankruptcy (Item 4)
System Health (Item 20)
Franchise system changes reported in the most recent fiscal year
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Unlock due diligence reportsFrequently 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.
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