In the 27 years Concrete Technology has been working with its Dealers, we’ve shared a simple to use business model that has created tremendous success with our Dealers. The model focuses on four key areas that are crucial to execute each day for a successful business.
- Generate qualified interest in your products by looking for the best ways to market and advertise. An average CTi crew normally installs 2-3 projects per week. A Dealership also will sell, on average, one project for every 4-5 inquiries it receives. This simple math equation provides the starting point for your advertising plan, if you want to keep the crew busy each week, you need to generate approximately 8-15 inquiries each week and then create the business from those inquiries. The ongoing execution is generating the highest value inquiries for the least amount of money. We teach our Dealers how to measure, modify and create this type of marketing plan.
- Once you have an interested home or business owner on the line, you need to start educating them on the value the CTi product line provides. This educational process is crucial to the sales and marketing success of the Dealership, the CTi product line offers a superior solution for concrete surfaces that is price competitive with inferior options. Once the customer understands this proposition, they see the products as getting a better solution for the same, if not less money. We teach our Dealers how to explain this value proposition to lead to the marketing and sales success needed for the Dealership.
- Install the products cost effectively is the third element in this business equation. Product and labor costs are the elements we look at most closely when we examine this part of the equation. Is the Dealer using the correct amount of product when doing the customer’s driveway, patio or pool deck? If they are using too much, we have specific areas we examine so as to train the Dealer to lower their product cost and thus raise their profitability. Labor cost is the other area we review constantly, a 2-3 person crew can normally install an average application such as a driveway, pool deck or patio in 2-3 days. If the project takes longer than the average, again we have specific areas we review with the Dealer to create better efficiency and thus raise their margin on the project.
- Managing the cash flow in the Dealership is the final element. As a CTi Dealership grows, investing wisely in its growth is the key to long term health. We work with our Dealers in making the correct decisions in this regard based on 27 years of seeing Dealerships grow across the world. Balancing the income the Dealership is generating with the cash outlays needed to further growth is the focus here.
We have some of the finest business people in the world operating CTi Dealerships around the globe. Their execution of this business model has led to tremendous success and a business the Dealer enjoys operating.
We’re excited to announce the release of Concrete Technology’s “F1 Fast Floor System”. This new flooring system is perfect for garages, workshops and other areas where a tough as nails coating is needed with a quick turnaround on the installation.
The F1 Fast Floor can be installed in one day on most residential applications. The product will cure and harden to take vehicular traffic within 24 hours.
We want to wish Kert Rhodes, Senior Dealer Advisor, a happy 7th Anniversary with CTi. He is a tremendous part of the CTi team.
Getting ready to ship to our Middle Eastern distribution center looking forward to working with Hakeim!
CTi would like to congratulate the following businesses as they celebrate their anniversary in September as Dealers:
Howell Masonry – MO – 15 years
CTi of Staunton – VA – 14 years
Price Concrete Renovations – KY 4 years
Nu Life Concrete Solution and Design – MD – 3 years
Surface Renovations – VA – 3 years
CTi of Lubbock – TX – 3 years
Colorado Non Slip – CO – 3 years
Knoxville Decorative Concrete Restoration – TN – 3 years
Dynamic Concrete Design – NC – 3 years
Manicured Concrete Solutions – Alberta, Canada – 3 years
CTi Transformations – IA – 3 years
CMC Artistic Finishes – OH – 3 years
Custom Concrete Concepts – MT – 3 years
Central Missouri Concrete Solutions – MO – 3 years
Valley Concrete Solutions – TX – 2 years
CTi of Woodbridge – VA – 2 years
Surface Renovations – MN – 2 years
Alainn Surface & Concrete Restorations – CO – 2 years
Champion Decorative Surfacing – GA – 2 years
CTi of East Texas – TX – 2 years
CTi of Sarasota – FL – 2 years
CTi of Lehigh Valley – PA – 2 years
Williams Property Services – GA – 2 years
Inspired Design Concepts – CO – 2 years
Carolina Concrete Concepts – SC – 2 years
CTi of Finland – Finland – 2 years
All Too Creative Concrete – TX – 1 year
TNT Concrete Innovations – NM – 10 years
Three County Concrete Restoration – PA – 6 years
Concrete Construction – IL – 19 years
Arizona Concrete Design – AZ – 5 years
Atlanta Decorative Concrete – GA – 5 years
Concrete Design Concepts – NC – 5 years
Driveway Restoration by CTi – FL – 4 years
CTi Oregon Concrete Resurfacing – OR – 4 years
Concrete Innovations – IA – 16 years
Custom Design Concrete Resurfacing – GA – 16 years
CTi would like to congratulate the following Dealers as they celebrate their anniversary with CTi in August:
CTi of Georgia – GA – 20 years
CTi Northeast – NJ – 19 years
B&D Custom Concrete – FL – 14 years
CTi of Cenla – LA – 14 years
Emerald City CTi – WA – 14 years
Concrete Appeal – IA – 13 years
Westcoast Creative Resurfacing – FL – 8 years
SES Environmental – GA – 4 years
CTi of LaSalle County – IL – 3 years
Creative Concrete and Countertops – FL – 3 years
R.D. Baker CTi Concrete Coatings – TX – 3 years
Moore’s Concrete Designs – FL – 2 years
Harris Concrete Solutions – FL – 2 years
KWB Concrete – TX – 2 years
Midstate CTi – LA – 2 years
Creative Concrete Solutions – MS – 2 years
C7 C Concrete Design – MS – 2 years
Artistic Concrete Designs – TX – 2 years
CTi of Chippewa Valley – WI – 1 year
CTi of Raleigh – NC – 1 year
Creative Concrete Resurfacing – CA – 1 year
Creative Vision FX – VA – 1 year
Moore Paint Co. – NC – 10 years
CIMA Ventures – NM – 9 years
TNT Landscape Services – TN – 6 years
Custom Decorative Concrete – IN – 4 years
CTi of Acadiana – LA – 4 years
Suncoast CTi – FL – 3 years
CTi Legacy – TX – 5 years
DMG Restoration Co. – OH – 5 years
CTi Southeast – LA – 18 years
As a business owner your CTi Dealership can be a tremendous asset in your portfolio of investments. To see how your business is performing though, you need to see it from three different angles, namely, the income statement, cash-flow statement and balance sheet.
The Income Statement details the business’s cash generating ability. It projects such items as revenue, expenses, capital (in the form of depreciation) and cost of goods. You should generate a monthly income statement for the business’s first year, quarterly statements for the second year and annual statements for each year thereafter.
The Cash Flow Statement details the amount of money coming into and going out of the business – these reports should be generated monthly for the first year and quarterly for each year thereafter. The result is a profit or loss at the end of the period represented by each column. Both profits and losses carry over to the last column to show a cumulative amount. If your cash-flow statement shows you consistently operating at a loss, you will probably need additional cash to meet expenses. Most businesses have some seasonal variations in their budgets, so re-examine your cash-flow calculations if they look identical every month.
The Balance Sheet paints a picture of the business’s financial strength in terms of assets, liabilities and equity over a set period. You should generate a balance sheet for each year profiled in the development of your business.
(The above was taken from the book Start Your Own Business by the staff at Entrepreneur media)
Remember, a stand alone set of books for your business will not only show you its real performance, it will also point out what is working well along with what needs to improve. In addition, a separate set of books for your business will make it much easier for a potential buyer to see what they are purchasing if and when you are ready to sell in the future.