Making a Profitable Business Out Of Stamped Concrete

Making a Profitable Business Out Of Stamped Concrete

how to create a successful stamped concrete business

Making a Profitable Business Out Of Stamped Concrete

Interested in increasing your profits and adding to your business? Who isn’t! Stamped concrete is a great way to earn more and provide a whole new aspect of cement work. It will provide an entirely new reason for clients to seek you out and hire you. And of course that helps bring in the money, as well.
We’ve talked earlier about why knowing how to stamp concrete is an important part of working in the field. But here we’ll take a closer look at how to be successful in this area whether you’re a brand-new contractor or you’re expanding your services to include it.

Invest Wisely

One of the first steps to making your business profitable is investing in it. Yes, that means you’ll need money to start out and do things right.
But it’s important . both for accounting and for your own psychological well-being – to know the difference between an expense and an investment. An expense is something like the electricity you need to run your office. It doesn’t provide a return. And you’ll have plenty of expenses in business, as you probably already know.
But you’ll also invest. Investments pay returns. It’s money spent to earn more money. So let’s look at some areas to invest in that are going to help you make greater profits in the long run.

Invest in Learning

The first thing you want to do, of course, is to learn how to stamp concrete. Sure, you can watch a couple of YouTube videos but this isn’t going to prepare you for truly professional-quality work or for large-scale projects.
If you’ve already been pouring concrete, you’re obviously well on your way to adding the decorative aspect to your work.
Getting trained and having your employees trained is worth it. Yes, it is going to mean taking a couple of days away from projects that generates income. And yes, it’s going to cost money. But it’s going to pay off. Over the long haul, you’ll see a return on your investment because you’ll know best practices and be more efficient.
Attending training sessions can even be helpful for those who already work in stamped concrete. You can learn new techniques and get new ideas. And even if you learn nothing, it’s still a great opportunity for networking with other contractors.

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Getting the Tools

Of course, another investment that you’ll have to make is the stamps and dyes for your work. You’ll want to be able to offer several patterns, of course. That means you’ll need a few sets of stamps in addition to the tampers to press them into the concrete.
Are we talking a lot about spending money in an article on making money? Yes, we are. But it’s pretty clear that without the proper tools for the job, you won’t be able to make any money at all. Sometimes the old saying holds true: “you have to spend money to make money.” In the case of your stamps, you need enough to be able to do the job efficiently, too.
You might not need a huge range of stamps to get started, but you’ll want at least some variety. As you go along, you can invest in more. And when you’re a franchisee of Patterned Concrete, you have access to our full catalogue of trademarked stamps!

Making Yourself Known

If you’re just starting out, it might be obvious that you have to advertise. But if you’ve been in business, it might slip your mind that you need to let everyone know that you’ve added this new service to your offerings.
Be sure to update your advertising. Double-check all the avenues you use to make sure they include your newest service. Be sure it shows up on your website, social media, flyers or any other channels. With avenues like social media – or radio or TV advertising – make an ongoing effort so that the message reaches the largest possible audience.

Know What You’re Selling

Setting expectations – for yourself and for your client – is another way to increase your earnings.
You’ll need to be able to show the client what they’ll be getting. One of the great aspects of our business is that it’s very visual. Whether in print or on the web, you can demonstrate to the client what a typical installation looks like.
But at the same time, you have to be able to visualize and plan, taking into account all the features of the project. A simple rectangular patio or driveway may be easy to imagine. Calculate the square footage, figure how many times the pattern will repeat, and you’re set.
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But say you’re going to have to work around a fire pit or a fountain. That means you need to know ahead how the pattern of the stamps is going to work with that. Will they line up correctly? What adjustments do you need to make? It can help both you and your client if you’re able to draw it, too. A pack of graph paper can be a great tool! Planning ahead makes you more efficient and helps guarantee that the client will be happy with the final product.
You’ll also want to make sure your client understands all the properties of stamped concrete and how to care for it. A little explanation ahead of time can help avoid a million headaches afterward.

Managing Your Time

“Time is money” is another saying with a lot of truth to it. When you learn good time management skills, you’ll find it far easier to turn a profit.
On the one hand, that means knowing proper techniques – the ones you’ve picked up through training and practice. But it also means being able to handle projects and business management well.
Delegation is key, and it’s an area where many contractors struggle, especially when starting out. It’s essential to let people do their jobs so that you can concentrate on the areas only you can do.
Your employees should be able to handle the work given to them without you constantly watching over them. That’s why you hired them, after all. Yes, you do have to ultimately oversee the work. But if you feel like you have to constantly be looking over their shoulder, either you or they are doing something wrong. Trust them. Let them do their work.
That goes for the back end also – let your receptionist, secretary and/or bookkeeper do their job. Follow up where necessary and be approachable if they struggle. But overall allow them to do what you hired them for.
In short: it doesn’t make sense for you to hire people if you’re not going to let them work.

Choose Your Projects Wisely

Yes, you have to choose just as much as you have to be chosen. There may be times when you have to tell someone that you can’t take their project on. It may be too small or too far away to make economic sense.
Or it could even be too large for where you’re at currently. In that case, you might be able to partner with another contractor to get it done, but you have to think that through first. A long, complicated project is sometimes not worth it if you don’t have the resources to handle it.

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It’s hard to turn away clients, but sometimes the project won’t make sense for you. To help alleviate hurt feelings, it’s good to be able to recommend someone else who could handle it.

Granted, you still might be willing to take on a project where you don’t make “enough” because you think it’s going to lead to more work. But don’t feel feel obliged to accept every project simply because someone wants to hire you. The job has to work for you and your business, too.

Other Factors

You are probably already aware of other basic steps to help make your business succeed. Here are a couple basic ones.
One is to shop around for best prices and develop relationships with suppliers. Going cheap is not the way to go. You want to always use a quality product. But you can negotiate better prices on quality supplies. As you grow, that becomes even easier to do. Buying in volume can help you reduce costs. Shop around; talk to various suppliers. See what they can offer you.
In the same vein, buy quality tools and equipment right from the start. Yes, it generally costs more. Sometimes it’s even a lot more. But if it’s a proven brand that is going to work better and be longer-lasting, you end up saving in the end.

Conclusion

Making your stamped concrete business profitable requires some investment and some simple practices that you should follow. Whether you’re just starting out or are expanding into this area, these tips will help you stay in the black. Soon you’ll be experiencing the joy of a great new revenue stream!
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