If you are thinking about starting your own epoxy flooring business, you may already be one step ahead of the curve. The epoxy flooring market is burgeoning, but right now, it’s still relatively wide open.
Steps for Starting an Epoxy Flooring Business
- 1) Register an LLC or Sole Proprietorship
- 2) Contact Local Municipalities
- 3) Purchase Equipment
- 4) Invest in Marketing
Epoxy is quickly becoming a favorite among commercial and residential property owners because of its incredible durability and because it looks much nicer than plain old concrete.
The fantastic thing about emerging epoxy flooring companies is that many owners began without knowing anything about flooring.
As a result, installing an epoxy floor is relatively simple compared to other kinds of flooring installation jobs.
Some people learn just by looking at YouTube videos and browsing online tutorials.
Since the demand for epoxy flooring seems to be on the rise, and by proxy, the demand for epoxy flooring companies, we thought we’d share some insights on how to start an epoxy floor business.
The Rising Demand for Epoxy Flooring
There is no denying the rising demand for epoxy flooring. The global epoxy flooring market was worth an estimated 2.43 billion last year and is expected to grow at a CAGR of 5.50% until 2031.
So what do all those statistics tell us?
For one thing, it tells us that, at least for the foreseeable future, a career in epoxy flooring is a safe bet, which is why it has enticed so many existing flooring contractors and budding ones.
And here are just some of the reasons epoxy flooring is in such high demand right now:
Increased Property Value
It is estimated that installing a concrete garage floor can increase a home’s value by $8 per square foot.
That may not sound like a lot, but epoxy flooring represents one of the best home improvement investments available, considering the relatively cheap installation cost.
Relatively Low Price
Regarding the price to install, consumers are flocking to epoxy flooring because it is more affordable than other kinds of floor coatings.
Business owners also realize how versatile and cost-effective epoxy flooring is in various applications: warehouses, garages, storage units, restaurants, etc.
Aesthetic Appeal
Epoxy coating can have a polished finish that looks clean and sleek. Similarly, contractors can enhance it to look like granite (at a fraction of the cost of the real thing.
Durability
With proper maintenance, epoxy flooring can last up to 20 years. Of course, the amount of foot traffic and quality of installation will also play a factor in how long an epoxy floor lasts.
Getting the maximum life out of an epoxy floor will also depend on its maintenance after installation.
Now that you have an idea of the job market’s trajectory and understand why epoxy flooring is in such high demand let’s discuss how to start an epoxy floor business.
Step 1: Establish Legal Parameters
If you start an epoxy flooring business, you will most likely want to choose between establishing an LLC and a sole proprietorship.
There are pros and cons to both, so check out this basic breakdown:
LLC
An LLC or Limited Liability Corporation defines the owner of a business and the business itself as two different entities.
The advantage of establishing your epoxy flooring business as an LLC is having a partner in the business.
Starting your business as an LLC will also protect people from going after your personal assets in court if something happens and you are being sued.
The downside to starting an LLC is that the process can be complicated.
Sole Proprietorship
A sole proprietorship is easier to set up than an LLC. The main drawback to a sole proprietorship is that you cannot have a partner by definition.
Most people will initially set up a sole proprietorship and convert it into an LLC when they experience some success or want to expand with a partner.
That is always an option, but you cannot start a sole proprietorship with a partner.
Step 2: Contact Local Municipalities
You will need a business license, for sure. But depending on where you plan to operate your epoxy flooring business, you will need to see what special permits and licenses are required.
Do a quick Google search for municipal offices and clerks in your state or city. Then, contact them by phone; they should be able to tell you what you need besides a business license to operate your flooring company.
In any case, you will also need to acquire insurance. Your state’s requirements may ask for nothing more than basic contractor’s insurance.
Depending on where you plan to operate, you may also need to put up a bond fee. The number of employees you have will also factor into the kinds of insurance policies you will need.
Step 3: Acquire the Right Equipment
Your epoxy flooring business will require an array of equipment, and the work you intend to do will dictate what specialty tools you need. In general, though, you will need:
- A diamond-bit grinder
- A shop vac with a vacuum wand
- Shovel
- Broom
- Epoxy resin
Step 4: Invest in Marketing
Once you have a business, you will need epoxy flooring leads.
The best way to get more leads is to utilize epoxy flooring marketing strategies that are proven to drive results.
Epoxy Flooring Management Software
An app like Jobber helps streamline your day-to-day operations, allowing you to scale your business.
Software tools are a great way to run your entire operation (scheduling, payments, customer relationships, etc.), leaving you time to focus on other tasks like marketing.
Quality Website
A professional website serves as the beacon for your company. It’s where interested prospects find more information and ultimately convert into new customers.
Contractor Webmasters offers professional website design services so your site delivers on your business goals.
Keyword Research
It’s important to optimize on-page content with keywords that will make it easier for search engines to find. Of course, you should start your keyword research with keyword research tools.
Then, group keywords by user intent and prioritize them by potential ROI.
Source: Ubersuggest
On-Page SEO
Every page and post on your website should have proper flooring company SEO so that you can maximize its value.
For example, if you provide garage floor coating services, your page should target keywords for people seeking that kind of service in your area.
Off-Page Optimization
Next, you’ll want to sign up for Yelp, Houzz, Angi, and HomeAdvisor, and here’s the big one: Google Business Profile.
Listing your business with these platforms is like having road signs pointing to your site; you want as many road signs on the web as possible.
Registering your business on Google Business Profile is the most impactful thing you can do for off-page optimization.
Content Marketing
Start a blog, post regularly on your business’s social media pages, create “how-to” video content, and consider an email marketing campaign to increase visibility. Publish your content on YouTube, Instagram, and Facebook business profiles.
Conclusion
If you’re trying to start an epoxy floor business, now is a great time to do so. All you need to do is register your business, contact local municipalities, purchase equipment, and invest in marketing.
Getting your business off the ground will be a challenge, just like with any other industry, but the blueprint is already laid out.
By following these steps, you can be on your way to a successful business.
