Sister Flooring Product Lines
- easy way to expand
- increases ticket amounts for existing customers
- brings in new customers
- requires you to update showrooms and website
Multi-Family Housing / Main Street Commercial
- helps build repeat business (individual units/buildings will need updating regularly)
- is a competitive market
- requires a high amount of sales outreach/networking
- may take time to get foot in the door
- margins are typically smaller because of the competitiveness of the field
New Construction and Designers
- similiar to multi-family / main street commercial, it is highly competitive, it requires concentrated sales and outreach efforts, and has smaller margins
- you often have to wait until project/phase is completed to get paid
- tends to be higher risk because of the many factors that impact project completion
Bid Commercial
- jobs are typically larger and go for a longer period of time
- high likelihood of bieng paid on a monthly basis
- harder to break into because you need a lot of expertise
- requires specialized skills and processes
- there's a slim margin of error when it comes to bids/estimates
- must be aware of projects that are coming up for bid
- billing requirements (like AIA) can become complex
Read the full article here:
