Thevideo starts with Nate Jones saying he will discuss how to start a garage door business. He begins by going over the costs involved. One must purchase a truck, a trailer for keeping equipment, the tools and equipment themselves, a website, and insurance coverage. Nate says that all these purchases can amount to about $42,500.
He then explains how much one can make from a garage door company. For a 2-car garage door, the national average that one can charge a homeowner is $4,000.
The average profit margin is 25%, depending on the expenses, and the average time it takes to complete each job is about 3 - 5 hours, while the average number of jobs one can complete per week once business picks up is about 5. With these figures, one can get a rough idea of how much they can make.
Nate proceeds to discuss how to go about marketing, saying that networking with residential and commercial home builders within the area is a great starting point. He also mentions that getting into the investing and flipping community is wise. Besides that, one should create a garage door company website with SEO.
There are other strategies, but Nate emphasizes that networking is the most effective. He then says ensuring quality work is vital, which one can achieve by attending garage door installation courses. Showing up on time and meeting deadlines will also help market the business. Nate concludes by saying one should look up a local CPA and ask them about creating an LLC, reputable insurance providers, and if they can recommend an attorney to help with customer agreements.
