Carter Romero
speaker
49 appearances
1 recordings
1 series
first heard Dec 2024
last heard Dec 2024
Carter Romero’s voice in public audio — every appearance, attributed to the second.
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Yeah, no more of those.
It's dynamic. We kind of adjust it just on a quarterly basis or so. But yeah, right now it's about $10,000. Last year, our average project cost was around 26K and we're trying to get over 100K into next year. A lot of that is word of mouth, like we discussed earlier. Like, you know, if you do a really big project, they're going to tell friends that are in that similar niche and same goes opposite.
So once we start taking on more larger projects, we think that it's going to be easier to stay in that niche for sure.
Right. Yeah. That's kind of a question about market share, right? Like that we've had is do we want to grow three locations to 10 million or is it easier to grow 10 locations to 3 million? In our experience, the climb to 3 million was a lot easier than the climb from 3 million to 6 million. And that's a lot of... a result of partnerships that we have.
Like we'll work with different home builders or design companies or, you know, whatever it may be. And we think that we can establish that group relatively quickly to get to 3 million per location rather than trying to build this out. Because we've talked about it for sure. Like, do we try to build us into the 30 million goal? It's possible, but it's going to be super challenging.
So that's kind of the logic there. We are open-minded though to deviating from that. You know, we're brand new in San Antonio. We're starting Dallas here pretty soon. And so as we take root in those areas, we're just going to... So what do you view as the negatives of doing this strategy of going to 10 locations? Definitely the hiring and training is going to be a super tricky one.
I think establishing a reputation is easier said than done. A lot of these partners are nationwide, and so we are...
banking on that a lot for this strategy so hopefully our reputation kind of progresses with us in these locations and these relationships do stand but definitely something that's going to be tricky yeah it seems like your your customer is like a one-time customer most of the time yeah yeah we have i think we calculated roughly maybe about five to ten percent of the clients come back for phase twos but since we are a full design and build
It's word of mouth right now. Yes, we're going to launch a marketing team. But we've started it. They're just kind of compiling data on what the best marketing sources are going to be. But we're actually going to allocate a budget starting January. And what percentage are residential versus commercial projects?
Maybe 10% or 15%. So not huge. No, not huge. We try to diversify. We don't want anyone taking a big chunk of that.
And then referrals, what percentage is coming from referrals? Probably 40%, maybe not necessarily from referrals. I would say the 40% is just our online presence in general, people going to the websites, people telling their friends, our Google reviews, whatever it is.
Oh, for sure. And me and John like to have those conversations too. Like, oh yeah, we're flying out here for a podcast. This is awesome. Or like whatever conversations we have that have to do with entrepreneurial benchmarks. And I think this is one of those maybe like, oh yeah, we have a huge team. We've hired so many people this year. This is awesome.
And it's more of just like scratching this itch as entrepreneurs that we've always had. But I think we could definitely hone that in and check that box while also doing super meaningful targets. Like if we switch it to revenue instead of a number of locations, I think that would do the same thing. Right, right.
in landscaping it's like these guys specialize in doing x right yeah and that's something that i think we've had a bit of a challenge uh discovering about ourselves because as we uh start projects one thing leads to another and eventually someone's asking if we can build their house it's like we gotta draw the line somewhere yeah and i think where that line is is outdoor living spaces so we want to be a one-stop shop because there are a lot of people that pay for convenience in this world uh
You know, you want to be able to go to a restaurant and order your whole plate from one restaurant. You don't want to, you know, a la carte from different places. So we're kind of that for outdoor living spaces. We're not going to, we don't have any plans to do any of the major construction stuff, but there's not really any limits to outdoor living space projects.
So to Josh's point, like these huge seven figure jobs in the pipeline, we'll take them because they're all just turnkey outdoor living spaces.
Right. Cool.
Is that right? We're doing some experiments with it. I don't think we're getting much result. It's more teeing us up for January when we have a real budget. Right. Yeah, less than $1,000 a month right now for sure.
Yeah.
No, I agree with that. Yeah, because we're trying to create this bell curve of revenue to profitability, right? Like, okay, when we have too little revenue, we're not going to make any money. When we have just right, we're going to make a lot of money. And when we have too much revenue, we're overutilized and we don't make money again. Yeah.
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