How To Start An Epoxy Floor Business
AUTHOR:
Michael Sawyer
Start An Epoxy Floor Business Part Time With Little Investment. In this article we’ll look at an overview of what it takes to become a successful epoxy floor business owner.
Establish Company Goal
Step 1: Establish Time Schedule
The most important part of establishing a business, whether full-time or part-time is CONSISTANT DEDICATION. It’s not important how much you dedicate, but how consistent you dedicate. You must set a schedule that dictates when you’ll work on your epoxy flooring business. It can be 4 hours a week or it can be 40 hours a week. The more defined the better. Write down or print your dedication schedule and post it in your bathroom where you’ll see it every day. An example of a good part-time schedule is below:
Mondays: 6PM - 8PM | Wednesdays: 6PM - 8PM | Sundays: 1PM - 5PM
Step 2: How To Set Customer Goal
The best way to make measurable progress is to establish a clearly defined goal. This goal must be aggressive, but achievable. The first goal to establish is the date when you’ll perform your first revenue generating epoxy floor job. If you’re just starting this journey a one month goal is a great place to start. Remember write this goal down and post it in your bathroom so you see it everyday.
PRO TIP:
Buy a pad of yellow sticky notes. Then write down your goal on post it on your bathroom mirror. A goal you see everyday is a goal that you can manifest. This simple, low cost tool can make a big difference when it comes to executing your goals.
Epoxy Floor Business
Time Schedule: Mondays 6PM – 8PM, Wednesdays 6PM – 8PM, Sundays 1PM – 5PM
First Revenue Customer: 9/30/24 (1 Month)
How To Create Epoxy Floor Customer Avatar
This step is CRITICAL to your success. Done correctly and you will save time, money, and most importantly ENERGY. Running a business takes energy. The more precise you are with the customer avatar the more efficiently and effective your marketing will be. People who take a BROAD approach to marketing will burn out early with little to no results. Their is so much to learn here so we’ll just cover the basics.
Step 1: How To Select The Best Customer Near You
First we need to find how many potential customers are within a 60 mile radius of your location. It’s best to focus on one type of customer first. An example would be garage epoxy floors. How many houses with a garage are located within a 60 mile radius?
Step 2: How To Specialize In An Epoxy Floor Type
Focus on one type of epoxy floor. This allows you to focus marketing efforts on one particular customer. A great place to start is garage epoxy floors. By focusing on this particular type of customer you can now think of all the different ways to expose yourself to this type of customer. To do this lets think of all the customers pain points.
Step 3: How To Find Customer Pain Points
Using the example of garage epoxy floors, think of all the people that would need a garage epoxy floor.
- Construction companies building houses looking for a nice finish on garage floors
- People who just bought a new home looking to add an epoxy floor to their garage
- Real estate agents looking for an epoxy partner who can give them referral bonuses
- people with nice cars looking for a showroom floor.
Now using the one channel marketing mindset build a plan to reach out to these customers.
How To Set-Up Epoxy Floor Business
Be smart and efficient. You can’t have a business if you don’t have customers to buy your epoxy floors. This is why we create a customer avatar first. We must first have a good understanding of our customer before we invest time in setting up the business.
Step 1: How To Register Your Epoxy Floor Business
This is where we make it legal for you to operate under a business. Once legally formed you’re able to accept money and spend money under the business name. Choose a business name that is memorable to customers. Some simple business name ideas include the following:
Business Name Examples: Your Last Name: Sawyer Epoxy | The Street You Grew Up On: Pilmer Epoxy | Geographic: Midwest Epoxy
Your going to want to make sure that another business does not exist with the same name. It’s typically ok if theirs’s a business that has the same name, but is in a different industry. Some places to check for same business names include your states secretary of state, federal trademark website, and by performing a quick google search.
We recommend using the LLC structure. This simple structure is flexible and easy to form. If your not comfortable forming the business yourself we recommend using a low cost service like Legal Zoom.
Step 2: How To Open Business Bank Accounts
Once your business is legally formed you can now open business bank accounts. You’ll need an IRS business EIN & the articles of organization (you’ll get this when registering your business) when setting up your business bank accounts. We recommend getting a debit card and a book of checks with your bank account. You may not use checks that much, but they do come in handy when someone does not accept debit cards.
Step 3: How To Save Money Earned From Your Business
We recommend opening one checking account and one savings account. Once you start earning revenue with your company we recommend transferring 10% of your revenue from checking to savings monthly.
Step 1: Wait until the first of the month
Step 2: Calculate revenue your epoxy company made last month
Step 3: Take last months revenue by 10% or .10
Step 4: Login to your online banking and transfer this amount from checking to savings
Epoxy Floor Business Marketing
Step 1: Find Where Your Customers Are Hanging Out
This is where you’ll spend most of your time in the beginning stages of your business. The key to marketing is first finding where your customers are hanging out. Then execute a one channel marketing mindset. A marketing channel refers to the platform or way you market (examples: youtube, mailers, facebook, etc) Remember your only one person right now. As you grow you can expand into other marketing channels. The foundation of your marketing should be your website. Your website is where you’ll direct all traffic. A properly created website will be your best salesman, producing quality leads 24 hours a day 7 days a week.
Step 2: Create An Effective Website
Create a website that convinces people to use your epoxy floor services. Do this by answering common questions, showing before and after pictures of your first couple of jobs, and describe your process of installing epoxy floors. Make it easy for customers to contact you as well.
Step 3: Execute One Channel Marketing Plan
Find the channel where MOST of your potential customers are hanging out. Then focus on DOMINATING the marketing in that one channel. Remember it’s just you starting out. This approach is much more effective than trying to market on every channel.
Marketing Channel Examples:
– Mailers
– Email Marketing
– Social Media Marketing
– Youtube
– Google Paid Ads
– Word Of Mouth / Networking
How To Perfect Epoxy Floor Installation Services
At this point you’ve set some goals, created a customer avatar, and registered your business. Now it’s time to ensure you can offer a quality product. We recommend doing some research to select the best epoxy system to use. We recommend Sherwin Williams Resuflor MPE system for epoxy floors. For Polyaspartic floor installations we recommend Sherwin Williams Elladur 4850 system. If your not interested in using these products checkout our List Of Epoxy Floor Products for other Epoxy Floor Products
How To Save Money While Learning How To Epoxy Floors
Creativity is key when running your own epoxy floor business. If your just starting out then odds are you won’t know much about installing epoxy floors. This is completely fine. Below we’ll discuss some ways that you can perfect your craft of installing epoxy floors, all while savings some money.
Step 1: Watch Youtube Videos
Youtube is the go to place to learn from others. Do a search in youtube “How to epoxy garage floors Professionally”. Make sure to take notes on what you’ve learned.
Step 2: Contact Product Distributor For Free Or Discounted Product
Create a list of epoxy floor distributors. Then call or email each one with the goal of getting free or discounted epoxy products. Tell them that your a new epoxy floor company and your thinking about going with their product line and would like to try it out.
Step 3: Install Floors For Friends And Family
Do your first few jobs and only charge what your materials cost. I recommend doing this with family and friends (or even yourself). Inform them that you’re just starting out and you’ll only charge them what the materials cost. Make sure to get high quality pictures of before and after when performing these first few jobs.