Side-Hustle Turned $1.5M/Year Fencing Business!
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- Опубликовано: 9 июн 2024
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Damon Gibson turned his farming life around by starting a fence business that quickly grew into a million-dollar venture. Gibson Fence and Deck, known for its top-notch work, earned $1.5M last year while working just three days a week. Learn how Damon, a devoted single dad, shifted from farming to launching a successful entrepreneurial journey in Seattle.
Starting as a solo act, Damon focused on delivering quality and satisfying customers, making his company a go-to in the fencing industry. Discover his strategy of closely understanding what clients want, ensuring every fence project hits the mark.
In this episode, hear how Damon mastered the art of running a profitable fence and deck business part-time, thanks to the power of customer referrals. See how he chose to focus on manageable, scalable projects, setting the stage for growth, and why he prioritized personal connections over social media hype.
Explore Damon's path from simple beginnings to big success, offering practical tips for aspiring entrepreneurs on how to build a fence business that thrives by keeping clients happy and delivering flawless results within budget and time.
Join us to delve into Damon Gibson’s inspiring story and uncover his secrets to a balanced life and a thriving business through strategic planning and a customer-first approach.
Check out episode 131, where we uncover how Trevor Kokenge started his landscaping business with only $300: • He Started a Landscapi...
Or watch episode 120, where we talk to Anthony Taylor-Weber about his shed business: • Starting a $1.2M/Year ...
Resources
www.upflip.com/academy - Launch and scale your business with our expert-led Academy
www.upflip.com/equipment-list - UpFlip's Equipment List
www.upflip.com/podcast - The UpFlip Podcast
www.gibsonfenceanddeck.com/ - Gibson Fence and Deck
Timestamps:
00:00 - Start
02:01 - Growing up
03:47 - Startup costs
05:20 - Time to success
06:56 - Project walkthrough
08:46 - Work hours
11:07 - Services offered
12:48 - Fan Blitz
14:09 - Customer responsiveness
15:31 - Winning the first job
16:44 - Competitive pricing and wages
19:48 - What needs to change
20:36 - Buying work vehicles for cheap
21:56 - Finding and hiring A-players
23:21 - Benefits of job cost tracking
25:02 - Revenue and margins
26:04 - Quoting system
27:56 - Money well spent
28:40 - International suppliers
29:54 - Marketing
31:50 - Regrets and lessons learned
33:16 - Outro
#howtobuildafence #fence #fencebusiness,
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Best advise I ever heard in life "Don't subsidize wealthy people". What a word.
Yup best advice i ever had from a young 20 year old business owner who was getting wealthy himself was "dont ever worry about the customers pocket"
Glad you found it helpful! 🔥
Finally a business owner who gives the net profit margin and not just often cited stroke my ego gross revenue. Thank you
Our aim is to feature entrepreneurs who are willing to share their numbers with our community. 🙌
Bro I hate when they do that.
“John was making 1.5 million a year!
*Johns net profits were 3% with 99% overhead” no one cares about revenue. GET RID OF IT.
I think entrepreneurship is a trait you develop.
this is seriously the only channel in this category that isn't some scam bullshit
What? You don't want to do audible books or sell t shirts on Etsy? BLASPHEMY!!!
fr fr
Very generous employer. Pays himself the same as his leads and only has 8% margin almost certainly because of the wages he pays. Good for him
He's the kind of guy who truly understands the value of his employees and appreciates their skills. 🙏
He makes closer to $100 per hour since he only works part time.
@@jake42385Not true. He may only be working part time in the number of days he works but he is working full time hours. At the 9:00 minute mark he said he averages 45 to 55 hours worked weekly. For a 50 week year that is 2500 hours. His most recent yearly net profit was $120,000 out of which he pays himself $100,000. One hundred thousand dollars divided by 2500 hours equals 40 dollars an hour.
@@jake42385but he doesn’t work part time all year. He said he was working 45-55 hours a week during the time they were filming.
8 percent is more than the vast majority of builders/contractors. But a good sign of a healthy business!
Join us for the long-awaited launch of UpFlip Academy, happening this month. Reserve your spot now: www.upflip.com/academy
I'm a fence builder in Canada, fences and decks are more profitable than people might think
You're spot on! How long have you been in the business?
@@UpFlip Been in the business for 5 years. Started when I was 19 and now I have 2 guys that work for me. Only need to work in the summer and I can take 5 months off in the winter
I also started in a Chevrolet uplander minivan similar to him haha.
I like how paul challenged this guy on some of his statements, shows a good contrast instead of brown nosing, i like how paul dived deep
I do think entrepreneurship can be natural, but it definitely is something that can be learned and developed.
Casual yet detailed interview. Good depth of reasoning for a video of this length. This is why I watch UpFlip.
The entrepreneurship instinct is a personal trait, and the entrepreneurship hustle is developed.
Guy is very well spoken, and down to earth. What a great business owner that helps his employees!
Im just starting doing decks and fences myself. This video is a huge confidence boost for me, thanks!
Thanks, this helped out a lot and I can agree with all of the advice. It's helpful to know the steps and struggles for converting a 6 figure to a 7 figure biz.
I read a book named “Good to Great” in the book it mentions putting right person in the right position and they will do the work themselves ..Which came to mind when this business owner mentioned about not micromanaging & Hiring Well.
Good episode seems like a nice humble guy with a unique way of doing things
As a fence contractor who does not work with wood a lot, I really find those fence pretty, thanksfor the video really inspiring!
Simple yet elegant decks... definitely worth every penny!
Great video guys
That's awesome, we're literally neighbors, i live on your same street, 2 blocks up.
I'm a small single man GC and electrical contractor. Keep up the good work!
This guy runs a tight ship. I would not want to work for him but I still admire his hustle and what’s he’s built. You have to respect that
Absolutely! Are you also involved in the fencing and decking industry?
This is really good content!
This guy deserves to be successful!
This is great and love the content/show! - Its very hard to stick with the whole story when you jump around so much!!
Thank you so much for this video. Truly helpful!!!
Hope he inspired you to kickstart your own business venture! 🔥
great example for a business. the owner was very helpful by being open and transperant!
Both
Entrepreneurs are born and developed
Families usually are business oriented and pass on the skills if accepted.
Excellent video and accurate advise from this guy
Glad you found it helpful! Hope the information propels you to new heights and success. 🚀
Shawn King from Mr fence of Evansville Indiana is a guy you have to talk to. He’s making waves in the fence industry like no other. He’s also a great dude and very friendly
Appreciate the nomination! We're reaching out 🔥
9:53 sounds like the book the 4 hour work week
Thank you! Great video
Appreciate the support! ☺️
Great buy. Who wouldn't wish him the best? Great channel too.
Fun video to watch. If his revenue is $1.5M and he nets $120k and has more work than he can get to, why not raise his prices by 2% and net $150k. Most customers building a $20k deck will not notice that it is 2% higher and won't mind paying it if he does good work. If he still has more work than he can do, do it again. A very small change to his gross can dramatically swing his net since it is such a low percentage of his gross.
Well that makes the title misleading, Gross doesn't mean anything, net is what matters. You could gross any amount and be bankrupt.
I want you all to fly to like Tennessee or Missouri and interview someone like this . We would like another perspective on this same situation.
Thank you
Good Episode
you r great man
There are many side hustles you can do like this.
Give us one then Lenny… don’t make it sound good!
You're absolutely right! Are there any side hustles you're currently pursuing?
@@UpFlip hey let me know if you like the idea, you’re always doing videos on business that are established and generating revenue why not make a video on a business who isn’t. Someone who needs help and more exposure and capital, see if the RUclips platform would help them become something
@@Malachiatl its in our plans this year ;)
@@UpFlip I currently do mobility scooter rentals as well as other equipment rentals. Also have been installing window air conditioners. Some dropshipping and ecommerce (amazon, etsy) as well.
Cheers.
Damon's journey from farming to building fences and decks is truly inspiring! His insights on avoiding common mistakes and letting go of certain traits are invaluable for aspiring entrepreneurs. It's amazing to see how he's built a successful seven-figure business with such a focused and efficient approach. 💡
Amazing I like this video too much
Awesome! Hope he inspired you to kickstart your own business venture! 🔥
Nice video
You should reach out to Mr. Fence in Evansville, IN. Awesome brand, big business that’s expanding fast. He would be a good fit for the channel.
We'll do!
Thank you for thinking of us
It could be developed through the years but the ones who were born with that skill or mindset are far successful than any other with the lack of that gift!
You've got a point! But not having a natural gift doesn't mean we'll give up. 💪
Being 19 most of these are geared towards handguns which I will unfortunately have to wait until I turn 21 to obtain but this was a great vid!
Ouch when I heard 120k net. But great stuff. Love the transparency!!
Agree! We respect his transparency. 🙏
I agree. He needs to increase his prices and niche down to more profitable projects. If he ever wanted to sell, no one will buy at that margin
120k for a carpenter is very very successful.
Entrepreneurship: born with
Thanks for dropping your thoughts! 🙏
I like the way this entrepreneur thinks. Not flashy at all plus he shared what he pay himself. I love it!!! I would buy a fence even if I didn’t really need one at the time. He didn’t mention religion at all but he seems so trustworthy.
Totally! His humble nature and strong character are the heart and soul of his business. 🙏
I don’t trust him and honestly, I wouldn’t request his services either.
Great interview!
This guy’s working hard and managing several employees, he should net more than 100k on 1.5M of revenue. He’s cutting things way too close. At the very least he might want to make a spreadsheet and play around with price increases and their effect on the bottom line. There’s little doubt in my mind that he could raise prices by at least 10% to raise profits to $250k, or $200k if he lost 20% of the jobs as a result. I’d probably want to try raising prices by 50% on a few quotes to see what happens.
Humble guy. Farmers man.. good people
Couldn't agree more! 🙏
Couldn't agree more! 🙏
Not always.
He gets rid of toxic help, excellent.
You can tell this dude is humble and honest, which is like
Working with him is like a dream come true; he's incredibly down to earth! 🙏
Realizing watching all these woodworkers is all I need is a carpenter grandpa…
Having a skilled carpenter in the family can indeed be a treasure trove of knowledge and inspiration for woodworking! But it's never necessary ☺️
Praise god.i glad your doing very well.u go friend.gods speed 👍
Thank you for the kind words! I hope he inspired you to embark on your own entrepreneurial journey. 🙏
Cool! I enjoy side hustles. Especially, DIY get dirty side hustles!
Definitely! What DIY side hustles have you been exploring lately?
The key is being able to find good help…. I tried 6 years in the construction/concrete industry and I just could not find the guys to provide a quality product at the end of the day and would have to go back a repair/redo jobs. Was just too hard to keep tabs on everything. I’m a crane operator now, wish I would have done it sooner.
Exactly, good employees are hard to find
Good employee needs to be payed accordingly
@@johnkinsella4802 - obviously, I pay more than most small/mid size companies. the problem I had is that the good ones would either move away, get a job with a bigger outfit that could pay more or think they could make more money going on their own. One had a mental breakdown, but that’s another story. Tough to find that one gem that’s ticks with you, count your blessings if you do.
Yup. He has exactly 1 employee
For that reason. And that will end badly at some point when the employee decides it’s better to sue the employer and/or get hurt on the job.
I think enetrepeneurship is a trait that you develop and are born with
It's like training a muscle... which can be easier with some people than others. 💪
I never saw a fence boulder work 3 days a week😅😅😅
Dying to know that small tool belt he has around his belt
With love from Namibia 🇳🇦
Appreciate the love and support! 🙏
Numbers can be deceiving, it's better to know how much a person brings home after taxes.
We do reveal his takehome in the video ;)
There is not a single person in my family who is an entrepreneur. I just got sick of having to work the hours dictated to me and seeing my life go nowhere sat in an office.
Same here. Almost ten years strong now working for myself!
Breaking the cycle is a bold step but often leads to remarkable changes. Don't be afraid to become the first in your family!
I just move to Bremerton Washington from Atlanta need any help
Do a video with oliver and josh lester
The numbers (1.5 million; 8%; $50 per hour for salary) - don't make sense, but a great dude and a good video!
Skilled employees deserve to be compensated accordingly, don't you agree? 🙌
What doesn't make sense? He has 10 Employees on average 40$ per hour for 5 days a week for 1 year is over $800k.
Isnt it normal to have a lower net profit in any business with a fair amout of employees? Thats the thing about these million dollar companies is they have expenses and payroll. Most owners are on a fixed income
This dude is a single dad!!!
Woah dude went from 1.5m to like 120k net
Whats the net that he takes home ?
Hope you stayed until the end because he explained this in detail! 💪
Transparency and confidence are key. Who else is rethinking their pricing strategy after watching this? 💸🤔
He likes Neutral milk hotel, YES!
It's something that you're born with. However, you can learn it just like you can learn anything you put your mind too. Some people will excel more than others due to it coming natural to them.
Agreed! In the end, it's the consistent effort that will pay off. 🙏
Fence work is unrealistic, unless you got connections to large developers. I did fencing in the winter months, for 2 winters while I did lawncare full time to make a little extra, just about everyone I quoted wasted my time. Just about all of them could not afford it and I was under the average price. Then I started charging 50.00 for quotes and nobody wanted a quote after that.
Your price probably wasn't the problem so much as marketing and qualifying your customers. You have to have a way for good customers to find you and weed out the bad ones.
Yea it’s hard to expect a customer to pay more than 40-50 bucks an hour for a carpenter. I’ve been in the business over a decade.
He carries six 4x4’s that are 16 feet long like nobody I’ve ever seen, and I’ve been in construction for over 30 years.
In all 30 years of our business you’ve never seen a blow and go doucher before?
@@Mccustomfence I avoided those types
Same. Egotistical people who run a business this way, produce expensive trash.
I used to, now my back is fubar.
They look like they might be cedar 4x4's, which is much more manageable than pressure treated. It's still impressive, though!
I do not think anyone can make 1.5M/year. There are lot of hiddens/unknowns like luck. The idea that anyone can do this is not very realistic. Also, it is helpful that he is in Washington. Do you think anyone can achieve that in the middle of nowhere Alabama?
It would be harder where you are. His costs are much higher too though including cost of living.
There's always ways to make money, and it's rarely as hard as most people think, especially once the groundwork has been set.
If you believe you can't, you've already placed a limit on yourself. There are countless paths to becoming a millionaire, even if they're not within this industry. Keep seeking opportunities!
Yeah in rural areas like where I live in Tennessee a good carpenter who runs his own business will make around 40-50 bucks per hour and employees will make 15-25 bucks an hour. If you’re higher than that you will not stay busy. There’s not tons of dumb millionaires on every corner itching to throw over the top money on a deck or fence.
Hi
Slowly… key word there.
How did he jump from working for someone else doing high level fencing to starting a business for himself?
Hope you stuck around until the end because he delved into his journey in detail! 💪
I’m just confused how you go from 1.5m gross to only 120k net, those profit margins are rough
I went to Las Vegas and won the jackpot
Now that's a story worth sharing!
@@UpFlip Hahaha, touche!
The vehicle thing kinda bugs me. Sure, spend more money where you can get a better ROI. Sure, customers will think "well, at least this crew isn't charging too much...look at this shitbox truck". BUT... it does also convey an unintended negative branding message which is "low quality" or "sketch" or "won't be in business long". There's got to be a happy medium where you can buy work vehicles that aren't too expensive but send the right message on your brand instead of "random shitbox"
When I go quote a job I drive the oldest cheapest vehicle I want. Where I live it will scare customers off if I pull up in a new f350. They don’t wanna feel like they are paying for your new luxurious truck.
He builds 15 decks a year at 100k each. Now go find ppl who pay 100k for a deck
People will pay it you have to figure out how to build that deck
There are plenty of brain dead rich people who are willing to pay those prices in big cities
Three teams x two weeks a job is 78 jobs per year. 1.5mil / 78 is roughly 20k per job. Totally reasonable for decks and fences.
he literally nets 8%, he's not even profitable
%8 of $1.5M? Bro that's $120,000, what are you smoking? 😂
Without even watching this I’ll believe you made $1.5M. I’ll even believe that you did it only working 3 days a week…, but what I won’t believe, is that you did it doing anything your picture indicates.
A lot of his answers start with “probably” … not a good sign. also , I’ve never heard a farmer that uses the term “sales funnel”
Just because you can doesn't mean you should. The world needs men doing good work in the trades at a fair price, 40 hours a week. I make good money and I work hard 5+ days a week along with my crew. It's the most fulfilling way to live
Your wood smells good! Thank you 😅
Wow that's awesome! 🔥
You can carry 6 4x’s on your shoulder!?!? 😮
He's got some serious strength!
They hiring bro?
Definitely not a picture of a 93 ranger lol
Amazing, unemployment rate appreciates it...
Amazing work though
Damn thats hard money ....1.5 milion and get 120k out damn profit margins very low
That's why managing expenses wisely is crucial in this industry! 🙏
Doesn't translate to middle America..... he's building fences for millionaires. 💯
That's an interesting observation about his target market! :)
His philosophy on buying used vehicles is interesting. The idea of him losing contracts because he does not use brand new 80k trucks seems weird to me. As a customer, when I see a contractor with flashy trucks the first thing I think of is: "I'm paying for that". I'd rather pay for his employees, because this will make a difference on the quality of what I buy. His truck won't change a thing to what I buy, the fence won't be nicer.
Bingo. When I go out to bid a project I drive my cheapest oldest vehicle.
8% profit margin seems low to me. Grossing $1.5 million but only profiting $120,000 seems crazy. Wonder if he could cut costs to get this number closer to $250,000-$300,000 profit
That actually is crazy considering the hassle running your own business having to build stuff. I run a small design firm and have only one guy working for me. My company's gross is $350K/yr. From that I take home $220K before tax. My guy gets $130K. My overhead is almost zero since I work on a computer.
@@OU81TWO glad I’m not the only one. I run an axe throwing and rage room business that grosses around $500k, profit is $200k-$250k. Can’t imagine only having an 8% margin
@@OU81TWO yeah contractors dont make as much as people think.
he already runs lean. No fancy trucks, no paid ads. He probably just needs to charge more at this point
The worst way to stain a deck. After building a new deck, the deck must weather for at least a couple months prior to staining. Also, the wood must be sanded to remove mill grain and open up the pores of the wood for staining. Not sure what this guy is doing...
There are definitely different approaches to staining a deck, and it's important to find the one that works best for your specific situation. Appreciate your insights!
😁
Did you enjoy the video? Thanks for watching! ☺️
I get you need clickbait in the title but is it even remotely possible to say whether its revenue or profit?
We always list revenue and reveal the profit margins later in the video ;)
@@UpFlip yeah i understand the youtube game u guys have to play.
Honestly He could proably start buying 1 or 2 toyota tacomas with a trailer and put logos on their and make his business look a lot more professional. Hes making great money dudes killing it. They are a tax write off at the end of the day anyway.
To each their own! ☺️
such bull, ive had a fencing business for 25 years, and i never made over 30k a year, 40k on a couple of years.
Agreed . But just keep in mind this guy is in Seattle. You’re probably in a rural area. There are lots of millionaires in Seattle who have too much money and not much brain. Anyone can build a deck or a fence if they are willing to sweat a little.
Only 1.5m 25 hours a week totally cap 🧢
Notice all the Mexicans in the background
he said he works 40-55 hours a week
It's 40-55 hour workweeks, spread out over 3 days! 😉
I love upflip but this time the interviewer feels odd, the expressions at 6:57 , also doesent know how to pet a cat, feels very weird like you are fed up with so many interviews and it feels like its just a chore or a “job” for him no passion.
I am long time viewer of upflip.
hes full of s lolol. its why he had to go be a framer and farmer. seems too happy to have worked hard, must be a taker not a leaver or into sharing.
He’s paying his crew leaders the same as himself . If anything he’s paying his help too much in my opinion.