Alliance Floor Source Inc: A Family Business in the Canadian Flooring Industry
As the housing market continues to boom in Canada, many entrepreneurs are looking to enter the flooring business. But with competition high and a range of products available, what does it take to succeed in this industry? Chatting with an experienced business owner in the flooring industry, we explore the ins and outs of running a flooring business in Canada.
The Canadian flooring industry is essential to the country's economy, with many small and medium businesses operating within the sector. One such company is Alliance Floor Source Inc, a family-owned business in the North York region of Toronto. Timea Fabok, one of the owners, sat down with us to discuss the business, its challenges and the Canadian flooring industry.
Alliance Floor Source Inc. was started by Timea's husband, Lehel Fabok, who came to Canada in 1981. After joining his uncle's flooring store, he learned the language and the business and eventually opened his own store in 1989. Timea joined the business after working as a travel agent and has been an integral part of the company ever since.
Timea explains the challenges of working in the flooring industry, particularly during the busy season.
"If it's a busy season, sometimes we have to spend more hours working'. My husband and I have worked on drawings in the dining room on Sunday mornings with our kids on our lap because projects were due."
But Timea also highlights the benefits of running a small business, including more flexibility when it comes to family commitments.
Marketing Strategies for Success
Alliance Floor Source Inc. relies on a mix of word-of-mouth and internet marketing to reach customers. They advertise on Google and use HomeStars, a review site, to build their reputation. But Timea believes that the quality of their products and services is what keeps customers coming back.
"We have a good reputation, and we always make sure that the customers are happy."
Competition and Challenges
However, running a successful flooring business is not easy. Competition is high, and the challenges can vary depending on location. "Competition is one challenge, definitely," says Timea, "product availability, the product itself." In addition, educating customers about the products they are buying is key. As our interviewee explains, homeowners may not be aware of factors like humidity levels when it comes to buying hardwood flooring.
Tips for Success
So, what does it take to succeed in the flooring business in Canada? Timea emphasizes the importance of honesty, customer service orientation, and product knowledge. In addition, building trust with customers is key. As for navigating the Canadian market and regulations, Timea notes that it is fairly straightforward and not overly complicated.
Canadian Flooring Industry
The Canadian flooring industry is dominated by the manufacturing of hardwood, with no laminate or vinyl being produced in the country. Many other products are imported, and a wide range of prices and categories are available for consumers. Timea believes that the industry is concentrated in the larger cities, with Toronto being a significant market.
Final Thoughts & Possible Exit Strategy
Alliance Floor Source Inc. is an example of a successful family business in the Canadian flooring industry. Despite the challenges of the industry, Timea and Lehel have built a thriving company by prioritizing quality and customer satisfaction. As Timea says, "We always make sure that the customers are happy, and we're here to help them."
Timea, the owner of the store, has expressed her openness to selling her business to someone who shares her vision and values. With her children grown and priorities shifting, she sees the potential for slowing down in the near future and exiting the business. This more than 30-year-old business could be an amazing opportunity for foreign buyers who want to come to Canada to run an established business. The new owner of the business could take the business to the next level and easily double the business' revenue!
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.