Looking to start your own spray foam business? You’re in luck! There are quite a few ways you can go about this, and each has their own unique benefits and drawbacks. This guide will help you figure out what approach will work best for your goals and budget so you can get started right away.
Do Your Research
Before opening your own spray foam business, you’ll need to have an understanding of its advantages and disadvantages. Spray-foam insulation is best for insulating walls, floors, roofs, and many other surfaces. The product comes in two types: open-cell or closed-cell.
Open-cell spray foam provides better overall energy efficiency while closed-cell is better at air sealing. Before deciding which type of spray foam insulation is right for your project, look into each option’s pros and cons. If you decide that spray foam insulation isn’t right for your project, there are several other methods of insulating your home that can be less expensive than spray foam.
Get Funding
Kickstart Your Spray Foam Business: Now that you’ve figured out your best route forward, how do you actually get funded? First and foremost, it pays to be in touch with local investors who have already done what you’re trying to accomplish.
In fact, a group of good investors can not only point you in a positive direction but can also take you under their wing and be there for encouragement as well as backup. When it comes to starting your own spray foam business, find out where potential investors are hanging out online or off.
Hire A Great Team
It’s easy for anyone to be energized and inspired when they’re starting a business. However, there are going to be ups and downs, even if you plan for them. Make sure your team knows why they should stay motivated throughout all of it.
Remind them why their company is important, how much their work matters and how everyone in your organization can work together toward a common goal—both big picture (to grow) and small (to pay their bills).
Keep Them Motivated
If your workers are just starting out, you can’t expect them to have all of their own equipment or supplies. As time goes on and their skill sets improve, it’s okay for you to take some duties off of them and get them more involved with other aspects of your company.
To keep things rolling along smoothly during their first year, make sure they have access to all of their supplies. You may be surprised at how inexpensive many products are that are essential for starting out as a professional in any field. For example, painter’s tape is key to keeping your job site clean—and in one piece—so make sure they don’t run out!
Start Marketing – Locally, Regionally and Nationally
Use social media, local and trade publications, and whatever else is available to you. Reach out to businesses that might be interested in what you do and let them know how you can help.
If you’re putting together press releases, keep these tips in mind: Press releases are useful for announcing new products or services or for drawing attention to something of interest (especially if it’s timely), but they’re best when delivered along with some type of media/visuals: photos, video, etc. It’s also critical that your release include contact information so reporters can follow up with questions if they have them.
Develop Relationships in Your Area
Networking is one of the best ways to build up your business, but it can also be extremely daunting. How do you know what information is valuable and what’s fluff? Like any relationship, networking takes time. In order to build up your network (and keep those relationships intact), try setting aside a regular time each week for catching up with contacts over coffee or lunch.
You might find out that you have even more in common than you thought! And if nothing else, it will give you insight into who knows about your industry and who doesn’t—which could help guide your business strategy going forward.
Have Fun!
It’s a great time to be in business. But, as I write these words, starting a new business is getting harder than ever. The regulatory environment is constantly changing, making it tougher for small businesses to get started. Customer expectations are ever-growing and change quickly—and if you don’t deliver what customers want when they want it, they’ll stop doing business with you.
And there are thousands of other companies willing to take their place! Competition is fierce and growing more so every day: You have giants like Facebook, Google and Amazon looking down on you from above and tons of little guys pushing up against your sides like crabs in a barrel. So how can you make sure that your new venture succeeds? How can you launch your dream with confidence?
Conclusion
To begin with, you need to decide what kind of product you want to sell and how you’re going to manufacture it. From there, you’ll have to decide on your basic infrastructure (think building permits and insurance), get started on your branding and marketing, create your website, handle sales, hire employees (if needed), stay organized and more.
As far as finances go—your time is precious, so keep an eye on cash flow by using tools like QuickBooks or Xero. The best part about starting your own spray foam insulation business? You can make it whatever you want—whether that means being a small-scale DIY venture or something bigger!
