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 in 2023, 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, the process of 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 epoxy flooring market numbers don’t lie. In general, the US concrete floor coatings market size was worth an estimated $304 million last year.
More specifically, epoxy flooring installations accounted for an estimated 40% of that valuation of $304 million. That means that last year alone, epoxy flooring installations accounted for nearly half of all the revenue earned by the United States concrete flooring industry.
Revenue earned in the US concrete flooring industry will likely increase by 4.3% every year for the foreseeable future. So you can bet that epoxy flooring installation services will contribute to that revenue.
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 in your home can increase its 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.
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.
With the proper maintenance, epoxy flooring can last for up to 20 years. Of course, the amount of foot traffic and quality of installation will 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 talk about how to start an epoxy floor business.
Step 1: Establish Legal Parameters
For the most part, you will want to choose between establishing an LLC or a sole proprietorship if you start an epoxy flooring business. 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 then, depending on where you plan to operate your epoxy flooring business, you will need to see what kind of 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, and they should be able to tell you what you will 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. You may also need to put up a bond fee depending on where you plan to operate. Whether or not you have employees 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 kind of 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 vacuum wand
- Epoxy resin
Step 4: Epoxy Floor Company Marketing Tips
The above steps will help you get your business started. But once you have a business, you will need epoxy flooring leads. So if you want to see your company grow, you must invest in epoxy flooring marketing. The idea of promoting a new company may seem overwhelming, but it becomes easier when you follow the tips below:
Invest in A Quality Website
Your website will be the beacon that leads people to your business. Invest in a professional web design, make your site easy to navigate, and include all vital business information for visitors and prospective clients.
Optimize on-page content with keywords that will make it easier to find for search engines. Start your keyword research with, of course, keyword research tools. Then, group keywords by user intent and prioritize them by potential ROI.
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, that page should target the list of keywords aimed at people seeking that kind of service in your area.
Next, you’re going to want to sign up for Yelp, Houzz, Angi, Home Advisor, and here’s the big one, Google Business Profile. Listing your business with these platforms is like having road signs pointing to your site, and you want as many of these 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 in 2023.
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.
If you’re trying to start an epoxy floor business, 2023 is a great time to launch. All you need is to register your business, contact local municipalities, purchase equipment, and invest in marketing. Sure, 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 in 2024.