Follow One Course Until Successful. The first letters of each word spell FOCUS. I can’t remember where I heard this but I never forgot the line. My other favorite line I heard from Donald Trump, “you better find what you love or you’ll never work hard enough to be successful”.
This is true with Decorative Concrete as it is with any business. Decorative concrete has many specialties within the industry. There is stamping, concrete countertops, polishing, landscape borders, pavers, vertical rock formations and a few more.
The easiest to get into and learn with the least amount of capital and labor is application of concrete overlays and acid stain concrete for interior spaces.
So how do you make over $100,000.00 per year or more? Always FOCUS, stick with the plan.
First is to focus on a geographic area. Every minute during the day that you spend traveling costs money. You’re paying your workers, gas and wear and tear on your vehicle. I’m not sure the cost of a vehicle but I’ve heard as much as 50 cents per mile. That’s $5,000.00 for every extra 10,000 miles per year or 40 miles per day. 20 miles one way and 20 miles back. That can also be looked at as over $100,000 over 10 years if invested at 5% annually.
So stay local.
When applying concrete overlays or applying stain to concrete you don’t need a lot of tools and only a van or pickup truck. Vans are great because they are a traveling billboard and great advertising. The more local you focus the more everyone will know your business. Vans also keep all your products out of the weather.
Staining and application of interior concrete overlays can be applied all year long without weather slowing you down.
Now let’s look at your market. If your market has residential homes with basements you’re in luck. There are millions of homes (and commercial properties) with unfinished basements.
Lets say that you have a 600 square foot basement project. We’ll assume that you have the basic tools for the job. Floor is going to be a simple application but you will make a pattern using strapping tape to create a tile pattern. Put down a blue first coat, let dry for 5 hours. Put down your tape in tile pattern and call it a day. Next day you apply a cream color application (about 2 hours all in). You want to let dry about 4-5 hours. With all that free time you can go to a couple of basement estimates. Then get lunch and come back at lets say 2:00 in the afternoon. Pull up the tape clean up and you’re done for the day.
Next morning come back and start applying sealers. Lets assume you have an assistant or partner. You only need 2 to run a basement floor business. Sealers require only 1 person to apply so one of you can run out and go to a few more estimates. Since you work locally only, it might only take an hour or two. End of day job is done.
Three days work, not hard. You charged $8.00 or $4,800.00 for the project, material cost $750.00 leaving $4,050.00. Labor $200.00 per day or $600.00 leaving $3,550.00. Assuming that it cost $25,000 to run your business for the year thats about $550.00 per week. Final profit is $3,000.00 for the week.
That’s $108,000.00 for the year doing only 3 per month. Just do it over and over.
You can always make more by adding a few retail stores or restaurants here and there. As you do more applications your skill level increases and ability to manage your business increases.
FOCUS, Follow One Course Until Successful.
Every market is a bit different so there will be adjustments in your game plan.
One more important point. You have to learn to say no! When you see a job that has potential problems, say no! If too far say no! Make sure you have a quality contract that always gets signed. Always have samples that are approved before the job starts.
When you do residential projects you always work for the owner. That is a benefit to getting paid promptly. Commercial projects unless working directly for the owner typically have a slower pay cycle. Each job should require 50% prior to commencement and balance upon completion. Make sure you know the laws of your state regarding labor and contracts. It’s part of the business.
You are providing a service in return for compensation. Always make sure that you provide what you have contracted to provide. There are always a few that may try to avoid the final payment.
Focus and specialization will create an enjoyable, profitable business. The problems arise when you deviate from the game plan. Take a look at Starbucks or McDonalds. They made billions on a single product. Your business should be no different.
Edward Winslow http: http://www.decorativeconcretekits.com
Blog http://www.metrocrete.com
Concrete Resurfacing Made Simple - Concrete resurfacing products and solutions
