Q3 REPORT: AmCoat reports new dealers and sales up over 2022
For 2023, AmCoat’s Floor Shield brand has added 14 new dealers, helping the polyaspartic floor coating company post positive results over 2022 — 33 percent. The residential and commercial coating company is on par to surpass record growth from 2022.
“In the third quarter, we added Floor Shield dealers in Knoxville, Tennessee and Rochester, New York,” said AmCoat’s Vice President of Sales and Dealer Development Jerold Hall. “These territories are primed for business and are perfect additions to our dealer network. These dealers are motivated and are already getting sales.”
Since AmCoat’s purchase in 2021 by One In A Row Ventures, there has been a renewed focus on growing their dealer network as demand for their high-performing products increases. And that includes investment in R&D and enhanced dealer support.
“The Floor Shield business model just works,” said Hall. “These are high-margin dealerships backed by a decades old nationwide company that helps their dealers become successful by getting them the resources and support they need to get the job done and start seeing growth. This is very attractive to entrepreneurs.”
AmCoat’s Rhino Shield brand is also making noise in U.S. markets, adding new dealerships in Naples/Fort Myers, Salt Lake City and Birmingham. AmCoat’s President and CEO Terence Andre said the AmCoat team has been working hard to recruit new dealers and it’s paying off.
“As we launch Floor Shield and Rhino Shield in new markets, sales are bolstered by brand recognition and intense dealer marketing,” said Andre. “We’re very pleased with the team’s progress over 2022 and we’re hitting the ground running in the fourth quarter.”
Andre said their premium coatings set the stage for their dealers to earn a greater profit.
“Because they are premium coatings, our Rhino Shield and Floor Shield products offers greater profit for dealers,” said Andre. “A Rhino Shield dealer typically earns in excess of $2 million in gross revenue with gross profits in excess of 55 percent and net profit margins of between 15 and 20 percent.”
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 info@amcoatind.com or call (850) 424-6805.