In our daily lives, we tend to take parking lots for granted. Every store and building we visit has one; there are over 50 million parking spaces in the United States alone. Most parking lots are painted with stripes and markings, helping visitors navigate into, out of, and around the individual spaces of the lot. All those painted lines and marks must be refreshed periodically, and line striping companies have sprung up across the country to tap into a $1 billion annual market. Starting a line striping business may seem straightforward, but the reality is quite different. In this article, we’ll discuss several factors that go into establishing a successful parking lot striping operation, and offer tips toward building a strong company.
Explore Franchising Opportunities
In the billion-dollar line striping industry, there are no nationally-recognized companies doing the work. The vast majority of businesses are local or regional. Because of this fact, building a business beyond local confines presents its share of difficulties. This gives smart companies the opportunity to explore the concept of franchising. Franchising consultants can help develop plans for a large local company to expand through franchises; one local company in the New England area was able to organize their operations through a franchising model and experienced explosive growth over just a few years. Starting from one operation, franchising the business can help a company grow into a regional or even national line striping powerhouse in a fairly short time.
Competing Against Fly-By-Nights
With so much line striping being done by cut-rate local businesses, is it possible to compete against rock-bottom prices? The answer, surprisingly, is YES. By focusing on quality, and providing flexibility to parking lot clients, a new line striping company can quickly outpace their cut-rate competitors. Another way to compete in a crowded local marketplace is by offering service to larger organizations, such as office parks, hospitals, and shopping centers. Rather than relying on multiple local vendors to tackle big jobs, these organizations often prefer to hire one company to do all the work, saving time and effort by avoiding multiple small contracts.
Choose Quality Equipment
New players in the line striping business may not have a lot of capital set aside to purchase equipment, but the quality of the spraying equipment is critical in establishing a new company as a trustworthy resource. There are several manufacturers of high-tech line spraying machines that produce crisp lines; these machines are often equipped with laser guidance to ensure the highest level of precision in the markings they make on pavement. The initial cost may be higher than more simple line-spraying equipment, but the payoffs in quality are worth it for the nascent striping operation.
Focus on Outstanding Customer Service
It should go without saying that the most successful companies have achieved their success by giving their customers the satisfaction they demand. It is what helps a good company stand out from its competitors. Customer service goes beyond simply completing a job; it influences every part of a client/business interaction. Providing quality work on time and on budget sets the stage for success, and by addressing specific client needs, a newer line striping business can enjoy greater market share by giving customers great value for their money.
This article was brought to you by Pin Point Line Striping & Marking, a New England-based line striping company who has served New Hampshire since 2006.