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I have been in the painting and finishing end of things for 10 years. I do OK. I ain’t getting rich but the house is paid for and we eat well. And I have no debt! I am actually one of those rare painters that doesn’t drink. I ran into an old friend in the concrete business at the lake the other day. Hadn’t seen this guy in 4 years. We talked for hours. We fished. We talked some more. He is expanding his business to the polymer industrial flooring area. Already has a couple of contracts with a couple more getting ready to break. He has one guy with several years installation experience and several others in training. He would like to put me to work handling this piece of his business. I know next to nothing about industrial polymer flooring but I do know how to manage crews and a business. He’ll give a piece of the company, salary and commission along with benefits. The numbers look very good and frankly I’m getting kinda sick of painting. Can anyone out there tell me about this business? I know Sherwin Williams bought General Polymer a while back. He also mentioned Stonhard, Silikal, Crown, Degussa, among several others. He mentioned that he would like to market this stuff in the higher end custom homes garages. Advice?? 🙂
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Don't give up your day job just yet.
These floor finishes are EXPENSIVE, and with the economy like it is, and companies laying off like crazy, this is one area that will get cut back on. I personally would wait until the business has been WELL established before I'd completely walk away from my painting business.
Just an opinion...
James DuHamel
*are the waterproof membrane systems (typical for decks, balconies, etc.) the same as polymer floor finishes? Or is this just a conc. finish thing?GO
*"He'll give a piece of the company, salary and commission along with benefits."A piece of the coating end or a piece of the entire company?Coatings-no way, he'll dump you faster than a grass-carp if that part doesn't take off. Entire company? Make sure you have a contract. Also, my experience has seen that finished specified on high traffic, ie: 10,000-100,000 sq.ft.and more warehouses. The only high-end, home garages I've seen this stuff in is "Jay Leno" type car collectors. How many of these deals has this guy done to date? Like the man from Texas says, keep your contacts fresh.Good luck!Hope all works out well!
*The new issue of JLC has a write up on this. They are talking about $1.50 to $5.50 sq ft and $1000 to $3500 for 2 car garages.
*I had an opportunity to get into this a few years back. 'Cept my situation was a bit different. I didn't have an angel would be the biggest diff.But as James has pointed out...the economy... But you know what? Based on the points James addressed I would say this is a very good time to get in. We're talking ground floor opportunity with an established advisor who is willing to take you on as a partner. And it's those high end customers--your target--who seem to be somewhat impervious to the little hiccups of the economy. Decking, stairways for commercial jobs; car collectors, the "Jay Leno types"; aircraft maintenance hangers, etc. Start now to position yourself for the next cycle. Start with slow growth and develop those contacts now.
*they're going in upscale homes in place of tile too... so ,it's not just garages...and in terms of economy... compared to what ?try comparing them to ceramic tile.. and all of a sudden they look even better in a downturn...but make sure you got the business end instead of just getting the business.. here's your fall-back position.. if the guy doesn't come across, you take your crew and open up your own polymer floor shop..... i don't really see a big downside to this..b but hey, whadda i no ?ps...$10/sf for the high end floors here
*I didn't say don't do it at all, I said not to give up your current business UNTIL this one is established, and your partnership turns out to be everything you thought it would be.They do those polymer floors in automotive dealerships here, as well as a multitude of industrial businesses. I have a few painting contractor friends who do these types of floors. They USED to do about 10 or so a month. Now, they do about 1 a month, maybe. I am sure it will pick up in the future, so they ain' worried. They also do other types of coatings, so they just do other stuff in the meantime. As for the large McMansion type homes having their garage floors done, I have seen a downturn in those types of new homes being built here. The new home market is still strong, just not the HUGE new home market. The stock market money took some pretty big hits over the last year, and these free spenders are holding on to their cash a little tighter now. Remember all the discussions we had on clients who wanted huge homes (square footage), but wanted el cheapo everything in it, so that they could afford the floor space? There definitely is a market for these floors, but just how big a market in your area remains to be seen. To give up your current business to jump into this would be a bad move, in my opinion. Do some research. Find out the market, and be cautious.James DuHamel
*I see a downside to this which I forgot to mention in my previous post.What is your exposure to risk in this deal? If the liability is split 50/50 with your pard then this is not a good thing for you. Here you are the new guy but sharing equally...see where I'm going with this? If you were to carry that load (risk) right off the bat the curve will be steep for you as you attempt to bring yourself up to speed in a hurry.But the good comes with the bad. So in order to reduce your liab perhaps you can offer a different split until you really understand the material and installation methods. Something like a sliding scale with full partner once you reach the level at which you partner resides.