A flooring company is a business that removes, installs, and repairs any kind of flooring for clients. Flooring companies position the wood, tile, or carpeting and complete the installation, applying finishing materials as needed.

They are responsible for the whole project from start to finish as well as for job site safety and proper care of tools and materials. It is projected that the revenue of flooring contractors in Florida will amount to approximately 1.697,5 million U.S. Dollars by 2024.

The floor installation industry has an annual revenue of about $23 billion. However, the industry’s top providers account for five percent of this amount—or about $1.15 billion. Medium-sized floor installation businesses make, on average, about $230,000 per year.

Steps on How to Start a Flooring Business in Florida

  1. Conduct Market Research

Conducting market research before starting any business is key to the success of the business hence you must not open a flooring installation business without conducting market research. Market research provides critical information about your market and your business landscape.

It can tell you how your business is perceived by the customers and clients you want to reach. It can help you determine who and where your customers are, and which customers are most likely to do business with you.

a. Who is the Target Market for Flooring Business in Florida?

If you are thinking of opening a flooring installation business then you should make target demographics all-encompassing. It should include all construction companies, office facility owners, players in the real estate industry, home staging companies, shipping companies, and households in the neighborhood where your flooring installation business will be located.

b. Is Flooring Business a Profitable Business in Florida?

Yes, the flooring installation business is very profitable. It is projected that the revenue of flooring contractors in Florida will amount to approximately 1.697,5 million U.S. Dollars by 2024.

c. Are There Existing Niches in the Industry?

No, there are no existing niches when it comes to flooring installation businesses.

d. Who are the Major Competitors in Florida?
  • Naples Flooring Company, LLC
  • Giant Carpet & Flooring – Boca Raton Flooring Contractor
  • Quantum Floors
  • B. Floors & Restoration
  • Paradise Flooring Solutions
  • Unique Flooring & Design
  • East Coast Flooring & Interiors
  • Carr’s Flooring America
  • Mike Nakheel Flooring
  • The Flooring Center
  • The Flooring Factory Outlet
  • Mercury Carpet & Flooring
  • Lifetime Flooring
  • Ace Florida Flooring
  • Altman Flooring Installation Inc.
  • JMI Flooring & Construction Services
  • Top Notch Flooring Installers Corp.
  • Frank Hollinger Family Flooring
  • Wall to Wall Flooring Specialist Inc.
  • Florida Hardwood Flooring, LLC.
e. Are There County or State Regulations or Zoning Laws for Flooring Installation Business in Florida?

No, there are no county or state regulations or zoning laws for flooring installation businesses in Florida. Players in this industry are expected to work with the existing regulations governing similar businesses in the county where their business is domiciled.

It means that at any point in time, the county office can determine whether the flooring installation business meets the zoning rules for the community. They also ensure that all flooring installation businesses are properly licensed by county or state agencies.

f. Is There a Franchise for Flooring Installation Business?

Yes, there are franchise opportunities for the flooring installation business. Here are some of them;

  • Precision Door Service.
  • Footprints Floors.
  • Chem-Dry Carpet Cleaning International.
  • N-Hance Wood Refinishing.
  • Concrete Craft.
  • Sam The Concrete Man.
  • Oxi Fresh Carpet Cleaning®.
g. What Do You Need to Start a Flooring Installation Business in Florida?
  • A Feasibility Report
  • Business and Marketing Plans
  • Business Licenses and Permits
  • An office facility
  • EIN (Employer Identification Number)/Federal Tax ID Number.
  • A Corporate Bank Account
  • Tool Box
  • Employees
  • Startup Capital
  1. Choose a Memorable Business Name

When looking to start a business, before you can begin to file the necessary documents with the constituted authorities or start your website, it is necessary that you come up with a name that you will be recognized with. It is essential that the name you come up with can easily be pronounced, is unique and easily memorable.
Some of the catchy business name ideas suitable for a flooring business are;

Creative Flooring Business Name ideas
  • Four Corners© Flooring Installation Company, Inc.
  • Fine Finish® Flooring Contractors, LLC
  • King of Woods© Flooring Installation Company, Inc.
  • Flooring Solutions® Flooring Installation Company, Inc.
  • Perfect Square™ Flooring Installation Company, Inc.
  • Moses ED™ Flooring Contractors, LLC.
  • Day Light© Flooring Installation Company, LLC
  • Lincoln Allen® Flooring Contractors, Inc.
  • Perfect Touch© Cabinet Makers, Inc.
  • Bernad© Flooring Installation Company, Inc.
  • Sleek Signature® Flooring Installation Company, LLC
  • Borne Group® Flooring Installation Company, LLC
  • West Ends™ Flooring Installation Company, LLC
  • The Nation© Flooring Installation Company, Inc.
  • Red Woods® Flooring Installation Company, Inc.
  • Saleem Abraham™ Flooring Installation Company, Inc.
  • Emmanuel Anthony™ Flooring Contractors, Inc.
  • Reil Tims© Flooring Installation Company, Inc.
  • David Jesse® Flooring Contractors, LLC
  • Miami Kings™ Flooring Installation Company, Inc.
  1. Register Your Business

a. What Type of Business Structure is Best for a Flooring Installation Business?

Even though there are several options when it comes to the business structure of a flooring installation business, the one that most players in this line of business consider is an LLC. It is common to consider an LLC because providers want to protect themselves from lawsuits.

Please note that an LLC will need an EIN if it has employees or if it will be required to file any of the excise tax forms listed below. Most new single-member LLCs classified as disregarded entities will need to obtain an EIN.

b. Steps to Form an LLC
  • Choose a Name for Your LLC.
  • File Articles of Organization.
  • Choose a registered agent.
  • Decide on member vs. manager management.
  • Create an LLC operating agreement.
  • Comply with other tax and regulatory requirements.
  • File annual reports.
c. What Type of License is Needed to Open a Flooring Installation Business in Florida?
  • General Business License
  • Health and Safety Permit
  • Zonal Permits
  • Signage Permit
  • Operational State Facility Inspections
d. What Type of Certification is Needed to Start a Flooring Installation Business in Florida?

You don’t need any certifications to start a flooring installation business in Florida, although most cabinet makers hold a trade qualification, often completed as part of an apprenticeship.

e. What Documents are Needed to Open a Flooring Installation Business in Florida?
  • DBA
  • EIN
  • Business and liability insurance
  • Federal Tax Payer’s ID
  • State Permit and Building Approval
  • Certificate of Incorporation
  • Business License
  • Business Plan
  • Employment Agreement (offer letters)
  • Operating Agreement for LLCs
  • Insurance Policy
  • Online Terms of Use
  • Online Privacy Policy Document
  • Contract Document
  • Company Bylaws
  • Memorandum of Understanding (MoU)
f. Do You Need a Trademark, Copyright, or Patent?

If you are considering starting a flooring installation business in Florida, usually you may not have any need to file for intellectual property protection or trademark. This is because the nature of the business makes it possible for you to successfully run the business without having any cause to challenge anybody in court for illegally making use of your company’s intellectual properties.

  1. Cost Analysis and Budgeting

a. How Much Does It Cost to Start a Flooring Installation Business in Florida?

When it comes to starting a flooring installation business in Florida, the startup costs range from $20,000 to $200,000 and above depending on how much equipment the business owner decides to purchase, and the number of employees. Please note that this amount includes the salaries of all the staff for the first month of operation.

b. What are the Costs Involved in Starting a Flooring Installation Business in Florida
  • The total fee for registering a business in the United States of America – $750.
  • Legal expenses for obtaining licenses and permits as well as the accounting services total – $8,200.
  • Marketing promotion expenses – $3,800
  • The cost for hiring a business consultant (writing of business plans inclusive) – $2,500.
  • Insurance (general liability, workers’ compensation, and property casualty) coverage at a total premium – $2,400.
  • The cost of accounting software, CRM software, and Payroll Software – $1,500
  • The cost for payment of rent for 12 months at $1.76 per square foot in the total amount of – $35,600.
  • Other start-up expenses including stationery – $500
  • Phone and utility deposits will cost – ($2,500)
  • Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $30,000
  • The cost for the purchase of the toolbox and working equipment – $16,027
  • The cost for the purchase of a utility truck: $25,000
  • The cost of launching an official website – $600
  • Miscellaneous – $2,500
c. What Factors Determine the Cost of Opening a Flooring Installation Business in Florida?
  • The size of the flooring installation business
  • The choice of location
  • The required licenses and permits
  • The type of equipment and toolbox needed
  • The cost for branding, promotion, and marketing of the flooring installation business
  • The cost of furnishing and equipping the facility
  • The cost of the insurance policy covers
  • The cost of registering the business
  • Source of your supplies and ongoing expenses
  • The cost of recruiting and training your staff
  • The cost for the purchase and customizing of uniforms
d. Do You Need to Build a Facility? If YES, How Much Will It Cost?

No, it is not compulsory to build a new facility for your flooring installation business.

e. What are the Ongoing Expenses of a Flooring Installation Business?
  • Supplies (inventory expenses)
  • Utility bills (fuel, internet subscriptions, phone bills, signage and software renewal fees et al)
  • Salaries of employees
f. What is the Average Salary of your Staff?
  • Chief Executives Office (Owner) – $45,000 Per Year
  • Manager (Admin Officer) – $35,000 Per Year
  • Accountant (Cashier) -$30,000 Per Year
  • Flooring Installers – $29,630,000 Per Year
  • Truck Driver – $26,100 Per Year
g. How Do You Get Funding to Start a Flooring Installation Business?
  • Raising money from personal savings and sale of personal stocks and properties
  • Raising money from investors and business partners
  • Sell shares to interested investors
  • Source for soft loans from your family members and friends.
  1. Write a Business Plan

a. Executive Summary

Edmond Davies® Flooring Installation Company is a U.S.-based and licensed flooring installation company. Our head office will be located in a standard office facility in the heart of Jacksonville, Florida. Although our Head Office will be located in Jacksonville, Florida, we will open our branch offices in major cities in Florida – within the first five years of operation.

Edmond Davies® Flooring Installation Company will engage in installing resilient flooring, carpeting, linoleum, and hardwood or other alternatives, and prepare surfaces for the installation of flooring and floor coverings.

We will install a variety of materials as floors for residential, commercial, institutional, and industrial building markets. We will work towards becoming one of the largest flooring installation companies in Florida and its environs.

b. Products and Service
  • Installing hardwood flooring
  • Installing and removing carpet, including sewing, binding, and cutting
  • Installing and removing asphalt tile, linoleum, and resilient flooring
  • Installing resilient sheet tiles
  • Resurfacing flooring using epoxy resins
  • Sanding and finishing wooden floors
  • Flooring repairs and refinishing.
c. Mission Statement

Our mission and values are to help people, homeowners, and property owners in Florida and environs handle hardwood flooring installation and other flooring installation contracts.

Vision Statement

Our vision is to become the leading brand in the flooring installation industry in Florida.

d. Goals and Objectives

The goals and objectives of a flooring installation business are to install and uninstall flooring for clients.

e. Organizational Structure
  • Chief Executives Office (Owner)
  • Manager (Admin Officer)
  • Accountant (Cashier)
  • Flooring Installers
  • Truck Driver

Marketing Plan

a. SWOT Analysis
Strength:

Some of the strengths that we will be bringing to the table in the flooring industry are our robust relations with construction giants, homeowners, and property investment moguls throughout Florida. We have a team of experts who have cut their teeth in the flooring installer industry, and our management team has what it takes to grow a business within a short period.

Weakness:

As a newbie in the flooring installation line of business, we might have some challenges competing with big-time construction companies and other flooring installation companies that have been in the industry for many years; that perhaps is part of our weakness.

Opportunities:

The opportunities in the construction cum real estate industry especially as a flooring installation company in Florida are massive considering the number of homeowners who have the financial capacity to renovate their homes and change their flooring when needed. We are ready to take advantage of any opportunity that comes our way.

Threat:

Some of the threats that we are likely going to face as a flooring installation company are unfavorable government policies, and a global economic downturn.

b. How Do Flooring Installation Businesses Make Money?

Flooring installation businesses make money by;

  • Installing hardwood flooring
  • Installing and removing carpet, including sewing, binding, and cutting
  • Installing and removing asphalt tile, linoleum, and resilient flooring
  • Installing resilient sheet tiles
  • Resurfacing flooring using epoxy resins
  • Sanding and finishing wooden floors
  • Flooring repairs and refinishing.
c. Payment Options
  • Payment via bank transfer
  • Payment with cash
  • Payment via credit cards
  • Payment via online bank transfer
  • Payment via check
  • Payment via mobile money transfer
d. Sales & Advertising Strategies
  • Introduce your business by sending introductory letters alongside your brochure to households, construction companies, home staging companies, shipping companies, and players in the construction and real estate industry
  • Advertise your services in community-based newspapers, local TV and radio stations
  • List your business and products on yellow pages ads (local directories)
  • Leverage the internet to promote your flooring installation company
  • Engage in direct marketing and sales
  • Encourage the use of word-of-mouth marketing (referrals)
  • Leverage the internet to promote your business (when you blog regularly on key issues as it relates to your business, people who consider you an expert in the field)
  • Join local chambers of commerce and industries around you with the main aim of networking and marketing your services; you are likely going to get referrals from such networks.
  • Engage the services of marketing executives and business developers to carry out direct marketing for you.

Financial Projection

a. How Much Should You Charge for your Product/Service?

There is no fixed cost when it comes to the amount you charge because there are unique factors that will determine it. But basically, flooring installation can cost between $1,500 and $4,500 with an average price of about $3,000 to cover a 500-square-foot space.

b. How Much Profit Do Flooring Installation Business Owners Make a Year in Florida?

It depends, but the available report shows that flooring installation business owner makes over $55,000 annually in profit.

c. What Factors Determine the Amount of Profit to Be Made?
  • The capacity of the flooring installation business
  • The types of flooring they are specialized in
  • The location the flooring installation business is covering
  • The management style of the flooring installation business
  • The business approach of the flooring installation business
  • The advertising and marketing strategies adopted by the flooring installation business.
  • The number of years the flooring installation business is in business
d. What is the Profit Margin of a Flooring Installation Business in Florida?

The profit margin of a flooring installation business is not fixed. It could range from 45 percent to 60 percent depending on the size of the contract and the types of flooring to be installed.

e. What is the Sales Forecast?

Below is the sales forecast for a Flooring installation business. It is based on the location of the business and other factors as it relates to such startups in Florida;

  • First Fiscal Year: $220,000
  • Second Fiscal Year: $350,000
  • Third Fiscal Year: $470,000
  1. Set Up your Shop/Office

a. How Do You Choose a Perfect Location for Flooring Installation Business in Florida?
  • The demography of the location especially as it relates to activities in the real estate market
  • The demand for flooring installation in the location
  • The purchasing power of businesses and residents of the location
  • Accessibility of the location
  • The number of flooring installation businesses in the location
  • The local laws and regulations in the community/state
  • Traffic, parking and security et al
b. What City is Best to Open a Flooring Installation Business in Florida?
  • Jacksonville, Florida
  • Hialeah, Florida
  • Riverview, Florida
  • Fort Lauderdale, Florida
  • Miami, Florida
  • Saint Cloud, Florida
  • Pompano Beach, Florida
  • Tallahassee, Florida
  • Pensacola, Florida
  • Bradenton, Florida.
c. What Equipment is Needed to Operate a Flooring Installation Business?
  • Floor scraper.
  • Floor roller.
  • Floor cutter.
  • Sanders
  • Saws
  • Trowels
  • Levels
  • Tape measure
  • Rubber mallet
  • Tapping block
  • Spacers
  • Utility knife
  • Protective eyewear, clothing, and footwear.
  1. Hire Employees

When it comes to hiring employees for a standard flooring installation business, you should make plans to hire a competent chief executive offer (you can occupy this position), manager (admin officer), flooring installers, and truck drivers.

  1. Launch the Business Proper

No flooring installation business opens its door for business without first organizing an opening party to officially launch the business. You can choose to do a soft opening if you are operating on a low budget or you can go for a grand opening party.

With a proper launching of the flooring installation business, you will be able to officially inform people in your city that your flooring installation business is open for business.

a. What Makes a Flooring Installation Business Successful?
  • Choose a good location to launch the business
  • Make sure all your projects are thorough and top-notch
  • Be deliberate with your marketing sales approach
  • Encourage the use of word of mouth to promote your flooring installation business
  • Leverage all available online and offline platforms to promote your flooring installation business
b. What Happens During a Typical Day at a Flooring Installation Business?
  • The office is open for the day’s work
  • The jobs to be done for the day are reviewed and all the needed materials are put together
  • Workforce, materials, and tools are transported to the site and installed
  • Staff return back to the office and the report for the day is written and submitted
  • The business is closed for the day.
c. What Skills and Experience Do You Need to Build a Flooring Installation Business?
  • Attention details
  • Excellent tools handling skills
  • Excellent project managing skills
  • Customer services skills
  • Interpersonal skill
  • Accounting and bookkeeping skills
  • Business management skills
  • Bargaining skill
  • Work experience in a flooring installation company
  • Experience in managing people
  • Experience in business administration
  • Experience in handling projects.