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Mike Feazel

👤 Speaker
466 total appearances

Appearances Over Time

Podcast Appearances

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

You know, we can do it on roofs that they're all the way up to the end of their perceived life.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

90% of roofs that we approach that we get on where the customers had multiple quotes for replacement, nine out of 10 roofs were able to take it out another five years.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

80% of those roofs, we can take out another 10 years, two treatments.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

Every five years, we apply the treatment again.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

And probably 60% of the roofs, we can take out three treatments or double the life of the roof and take it out 15 years.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

We do.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

So they're accepting not so much roof max or now there's a whole industry that has grown up around what we've done.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

There's competitors, which we see as healthy.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

The insurance company will never support a product

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

They just want to say that, hey, you've got five years of remaining life.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

So let's say you think you need a new roof.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

The insurance company sends you a cancellation letter.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

We come out, we treat the roof, an inspector comes out, inspects the roof, says this roof has five years of serviceable life.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

You send that to the insurance company and the insurance company will keep the insurance policy intact without replacement.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

I'm going to say that they quit too soon, like most people.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

We just went in and did the grind and didn't stop.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

Tenacity, persistence, same with any company.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

And I think I understood how to take it to market better than they did.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

They were trying to take it to roofing companies.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

And as a roofer, so did I, but I very quickly pivoted and realized the roofers were not our partner.