💰 Alchemy 101: How to turn concrete into gold

You’ll never look at epoxy floors the same way  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ​ Alchemy 101: How to turn concrete into gold ​ Today in 10 minutes or less, you’ll learn: ✔️ It’s always the things you overlook ✔️ Your ticket to 6 figures is under your feet ✔️ How this owner pulls $720k instead of $36k ✔️ How I’d blow this biz out of the water ​ It’s always the things you overlook We’ve all been fooled by it at least once…Shiny Object Syndrome. Every now and then, we are tempted by the glamorous stuff around us. For some, it’s gadgets. For others, it’s cars. But for most of us, it’s jobs. We choose our careers and industries based on how sexy they look—not how much they pay or how much freedom they grant us. And sadly, our kids are starting to copy that mistake. [Series of graphs titled, “What do you want to be when you grow up?”] ​ How many plumbers still come to your home with their teenage kid in tow to learn the trade? Oh, zero? That’s because they’re online trying to cash out on the latest trends. I should know…I made that mistake, too. My first ever business was in the fancy world of fashion and ecommerce. Guess what? It failed terribly. I had the distinct pleasure of working with about 100 influencers in fashion (kill me) and I ended up closing it down 2 years later. That’s when I realized billions are made in places we often overlook. Which brings us to today’s topic… ​ Your ticket to 6 figures is under your feet Ah, epoxy floors…what's not to like? For starters, they are basically indestructible. Which means it's pretty hard for some contractor to come in later and f*ck up your flooring. But most importantly, they're pretty. [Photo of room with epoxy floor in marbled gray, white and blue.] ​ It turns out they make a terrific boring business, too. I’d have never guessed it…but it’s always the things you overlook, eh? Meet Corey Edmond, owner of [Northwest Concrete Coatings](=). Corey runs a pressure washing and concrete grinding business, both of which do well. But, like most people, he wanted more $$$. That's when he decided to offer an add-on that his existing concrete grinding customers would happily pay for: epoxy floors. Imagine your kitchen is getting a facelift. I’m talking the whole nine yards. Cabinets getting torn down. A new island being installed. New wiring and plumbing. In the middle of all this chaos, your floor guy walks up to you and says that instead of polishing your old floors, he can get you a better deal on epoxy that’s cheaper, more durable and faster. Corey saw a chance to create another revenue stream with the epoxy upsell and he grabbed it. He skipped down to Dayton, Ohio, attended a 3-day training, and boom—he was off to the races. A year later, Corey's upsell had spun into a full-fledged business that hit $100k monthly revenue three times within his first year of business. Now, it has steadied out to $60k per month. Just to put that in perspective, the average epoxy installer makes about $36k a year. So, how does he pull it off? ​ How this owner pulls $720k instead of $36k Getting started Getting into the epoxy business is not cheap. The largest expense – you guessed it – is equipment. For example, take a look at this bad boy. ​ [Photo of Husqvarna propane-powered concrete floor grinder..] ​ This is what you’d call a propane grinder, and they typically sell for $30,000 apiece. [Screenshot of other floor grinding machines for sale on Buy Manufacturers Direct website.] ​ For Corey, his total startup cost came out to $60,000. But before you roll your eyes, hear me out… Remember how I always say to do deals with other people's money and validate a business idea before you launch? Well, Corey did both. Smart guy. Before he shelled out $30k on a grinder or even made his first hire, he got one of his salesmen to go door to door hunting for leads. After one day of door-knocking, guess how much cash he collected? $30,000. And that's only because he required 50% deposits. He had no payroll, no equipment…heck, he had no product. Yet, he somehow managed to make half of his startup capital in sales. That's not all. As a two-time business owner, Corey already had a good relationship with his bank. This came in handy when he decided to take out a business loan to finance his equipment. That $30k hunk of metal we showed you earlier? He bought it with no down payment. Between one truck, its trailer and its accompanying set of grinders, Corey pays about $1,800 monthly. In return, that one truck generates a minimum of $60k. [Snapshot of Deposit Breakdown Calculator from Northwest Concrete Coatings.] ​ Spending $1,800 to make $60,000? That's the kind of math I like. --------------------------------------------------------------- Growth mode The average epoxy floor installer makes $36k a year while Corey's business brings in more than $720,000 at 17-20% margins. So, what’s his secret? Marketing. It’s marketing, y’all. And we're not talking about pinning up flyers in neighborhoods or driving branded trucks around town. We're talking 21st-century digital marketing. The kind most sweaty industries still don't use. Corey's #1 revenue generator is Facebook ads. Every month, his ad spend on Zuck’s app ranges from $6,000 to $12,000. [Screenshot of Northwest Concrete Coating ad on Facebook.] ​ While he tends to spend 2x more on Facebook, Corey’s monthly allocation of $3,000 to $5,000 for Google Ads tends to bring in higher-quality leads. Demand for epoxy floors is at its highest from March through November. These are the months when his digital advertising budget hits 5 figures. The key in my opinion: before and after photos. Humans are suckers for them. ​ How I’d blow this out of the water After looking at Northwest Concrete Coatings, I’ve got to admit…it’s a solid operation. However, I’d make a few tweaks to make sure I’m not leaving any money on the table. --------------------------------------------------------------- Organic content Corey has the right idea running ads all year round. But if I were him, I wouldn’t stick to PPC advertising alone. You’ve seen epoxy floors, right? We all know how colorful they can be. Now, imagine those pretty floors as posts on image-first platforms like Instagram and Pinterest. Even better, imagine Corey making short-form content about his services and posting them on TikTok. I know what you’re thinking… “TikTok is for kids.” “Those damn Gen Z’ers don’t own houses. Why would they need epoxy floors?” Wrong! In 2020, Statista reported that the hashtag #homereno garnered 39 billion views, making it the fifth largest category that year. [Bar chart showing hashtag views in billions, by category.] ​ Even more, [37% of TikTok’s US users](=) have household incomes above $100,000. Remember that the next time you think everyone on TikTok is a pimply-faced teenager. And in case you haven’t heard, people buy homes on TikTok now. ​ If people are willing to spring for a 4-bedroom they haven’t seen IRL, what makes you think they’d draw the line at epoxy floors? --------------------------------------------------------------- Coaching and mentorship This business looks primed for franchising, affiliates or building out a larger business. In Corey’s case, a paid community could be the lowest-hanging fruit. If I were him, I’d launch a Facebook group for new and aspiring epoxy floor biz owners. Members can exchange tips, dos and don'ts, and pick his brain as an epoxy veteran. The niche knowledge he has on the epoxy business is worth more than gold on the open market: - How to navigate loans and financing - How to build systems specific for epoxy flooring businesses - What software to use for automations - How to find good staff - How to train staff - How to structure pay - Facebook ads 101 - What manufacturers and equipment models to buy, avoid etc. On the backend, I’d have an offer for members to franchise, partner or get hired on as a second option. Just a few ways to make a sticky business even stickier. ​ Boots not suits, - Codie ​ ​ 🏀 1 in 4 adults put money on March Madness brackets (aka [$15.5B in bets](=)) 👨‍🌾["Periods When to Make Money,"]() as forecasted by an 1875 farmer 📚 Put your reading glasses on for this one: the [comeback of 2022]() goes to... books 🤳 Gov wants to ban them? TikTok responds in the [TikTok-est way possible]()​ 📉 #NotAllLayoffs, BUT here’s [one $190k insight](=) into Meta’s 2021 staffing --------------------------------------------------------------- Ready to become part of the Contrarian Crew? There are 2 ways to join: ✔️ [Small Business Acquisitions Course:]() A step-by-step framework on how to build freedom and passive income through SMB acquisitions. It's like a mini-MBA, but one you'll actually use (and at 1/100th of the cost!) ✔️ [Work closely with us in the Unconventional Acquisitions Mastermind]() to buy your first, or next, business if you have a minimum of $50k to invest! Did someone forward you this email? Tell them we appreciate them. Then, get [your own free subscription.](=)​ Interested in advertising with Contrarian Thinking? 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