Torsion Talk - The Garage Door Industry Podcast Torsion Talk S8 E68 - 10 Things You Need To Do Before Starting Your Garage Door Business
In this episode of Torsion Talk, Season 8, Episode 67, host Ryan kicks off a new multi-part series dedicated to guiding aspiring entrepreneurs through the essential steps of starting a garage door company. Drawing from his extensive business experience, Ryan provides practical advice and strategic insights to help listeners navigate the challenges of launching and growing a successful business.
Key Highlights:
Launching the Garage Door Company Startup Series:
Ryan introduces a new series aimed at educating entrepreneurs on starting a garage door company, emphasizing the importance of strategic planning and education. He announces the creation of Garage Door University to provide further training and networking opportunities, along with a financing plan to make these resources more accessible.
Financial Sustainability and Sales Projections:
The discussion highlights the critical importance of financial sustainability, advising business owners to focus on personal financial well-being and realistic sales projections.
Effective Branding Strategies:
Ryan delves into branding, advising on the creation of a simple yet effective logo, the importance of conducting a trademark search, and the benefits of a professional presentation. He suggests starting with a strong logo and brand colors before building a comprehensive website.
Cost Management and Expense Control:
The episode covers strategies for minimizing startup costs and managing expenses effectively, including understanding insurance coverage, registering the business correctly, and maintaining low monthly expenses. Ryan also stresses the importance of job costing and establishing a reasonable commission structure.
Understanding Gross Profit Margins:
Ryan explains the concept of gross profit margins, providing practical examples of how to calculate and apply these margins in real-world scenarios. He underscores the necessity of understanding and using the term ‘margin’ in financial calculations.
Client Acquisition Strategies:
Various strategies for acquiring new clients are discussed, including door-knocking, networking groups, yard signs, direct mail, and social media marketing. Ryan highlights alternative methods to stand out on platforms like Yelp and shares a special offer on yard signs from his friend, David.
Sales Strategy and Software Recommendations:
Ryan outlines his sales strategy, emphasizing the importance of social media marketing, testimonial videos, and a structured sales plan. He recommends software tools such as Jobber for business management and Monday.com for CRM, along with automated systems for lead outreach.
Small Business Sales Plan and Finance Management:
The episode covers the essentials of a well-thought-out sales plan, including non-pushy sales training, client packages, and effective cash flow management. Ryan advises on opening multiple checking and savings accounts, setting up net 30 terms, and creating a profit account for large profits.
Professionalism and Effective Hiring:
Ryan emphasizes the importance of using professional emails, maintaining separate business and personal finances, and managing inventory levels. He also highlights the need for early recruitment, focusing on hiring the right installer and office person who fit the company’s culture.
Networking and Core Values:
The importance of strong networking groups and the development of a vision, mission statement, and core values are discussed. Ryan encourages creative brainstorming to develop these elements and offers his assistance in the process.
Find Ryan at:
https://garagedooru.com
https://aaronoverheaddoors.com
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