Q2 REPORT: AmCoat Up 16 Percent Over 2022
AmCoat continues to soar in the first half of 2023 as companies Rhino Shield® and Floor Shield® produce significant results. The high-tech coating company’s 2023 growth continues to outpace record growth from 2022.
AmCoat has grown by more than 16 percent over 2022, continuing its streak as it puts additional focus on commercial business. AmCoat’s Vice President of Sales and Dealer Development, Jerold Hall says they owe much of their success to their growing dealer network.
“We’re serving more and more new customers in new markets that are ripe for our products,” said Hall. “Add to that a stronger focus on commercial business and customer demand for Rhino Shield and Floor Shield — that’s a formula for a thriving company.”
AmCoat has been working hard to stand up Rhino Shield and Floor Shield dealerships in new geographies.
This quarter, Rhino Shield added a new dealership that covers Birmingham, Montgomery and Huntsville. Floor Shield has added dealerships in Ft. Lauderdale, San Antonio, Tucson, Chicago, Austin and northeast Georgia.
Terence Andre, AmCoat President and CEO is pleased their strategy to add dealers is working.
“The team is really getting amazing results in adding dealers for both Rhino Shield and Floor Shield,” said Andre. “It’s easy to show potential dealers that our business model works.”
Andre said their dealers earn greater profit for the premium coatings.
“As a premium coating, Rhino Shield and Floor Shield offers greater profit for dealers,” said Andre. “Our typical Rhino Shield dealer earns more than $2 million in gross revenue with gross profits in excess of 55 percent and net profit margins of between 15 and 20 percent.”
As Hall continues to travel from coast-to-coast recruiting dealers, he’s encouraged by the response he’s seeing.
“We’re looking for individuals who can successfully market products in the areas they serve,” said Hall. “These are high-profit dealerships with the backing of nationwide company with more than two decades of success.”
AmCoat is expanding its dealer distribution networks over the next two years. Dealerships are available in Minneapolis, Las Vegas, Seattle, Portland, Salt Lake City, New York City, Omaha, Buffalo, Rochester, Los Angeles, Boise, Baltimore and Richmond. Businesspeople in those areas who are interested in learning more about starting up a Rhino Shield dealership should email email@example.com or call (850) 424-6805.