Franchise Evaluator™: Lifetime Green Coatings

What population does the brand serve? Is the market broad, niche, or somewhere in-between?

The global concrete floor coatings market size is expected to expand at approximately 12% compounded annual growth rate (CAGR) from 2023 to 2035, according to Research Nester. The market is anticipated to garner a revenue of $45 billion by the end of 2035, up from a combined revenue of $15 billion in the year 2022.

We categorize the market size as a large market.

Is the overall industry growing, that is creating new customers who have never used these services before, or mature where most population segments are already using these types of products and services?

Trends in the home improvement industry continue to evolve, combining innovative green products and solutions with technological advantages, all focused on keeping customers’ and environmental health in mind. Customers care about businesses that adopt true green initiatives, a trend Lifetime Green Coatings proudly follows. Lifetime Green Coatings actively seeks out prospective franchise owners who also share in this deeply held belief.

We categorize the Industry Trend as a high growth trend.

What drives the purchase of the product or service? Is it a “need-to-buy” or a “want-to-buy”? How are customers drawn to your business?

The company’s proprietary, natural, plant-based, environmentally friendly coating systems protect homes and businesses from water intrusion, which can lead to future problems with humidity, mold, and premature deterioration. 100% made in the USA, Lifetime Green Coatings’ products effectively waterproof basements, crawl spaces, garage spaces, and shower enclosures. Its coating also adheres to concrete and asphalt to conceal imperfections and fill in cracks. Lifetime’s coating creates a smooth and level surface by concealing cracks and minimizing sunken surfaces on patios. With no temperature restrictions, any Lifetime Green Coatings installation can be applied year-round, meaning more revenue opportunities all year long.

We categorize the product and service drivers as high drivers.

Are competitors a major factor in operating your business? If so, is competition sparse or saturated? Will it matter to your business?

As a category disrupter with innovative and proprietary environmentally friendly coating systems, there doesn’t seem to be any direct competition for Lifetime Green Coatings. Its naturally-based, patent-protected formula is made in the U.S. and has no VOCs, BPA, or harsh chemicals. This allows franchisees to complete five garages in the time it takes competitors to finish one. Competition may come from independent general contractors and painters who also promote a similar product or service but may not provide the totally environmentally friendly, green solutions the Lifetime Green Coatings offers.

We categorize the competitive climate as low-mid competitive pressure.

Are the business’s products or services regulated, or do they require licensing? Will you or your employees require special licensing? If so, is the regulatory climate strict or lax? Will this affect recruiting employees?

Lifetime Green Coatings acknowledges and navigates the regulatory landscape with a supportive executive team. Other than regulations required to run a business, in order to understand the regulatory climate fully, please check with your state or local municipalities for any specialized regulations with regard to the licensing or registration of any product ingredients.

We categorize the regulatory climate as low regulation.

How experienced is the franchisor at being a franchisor?

With about 45+ franchisees covering 150+ franchised locations, Lifetime Green Coatings has developed a strong franchising model.  The leadership team’s industry experience combined with their franchise experience and their commitment to successful franchise and customer engagements is paramount for growth.

We categorize the Franchising Experience as Extensive.

What is the tenure, background, and commitment of the franchise’s leadership?

Michael Dzama, CEO, has always had a passion for performance-driven green technology and strives to dispel myths associated with it. With over 25 years of industry experience, Dzama is leading the brand into franchising with the same passion and attention to its core values. Lifetime Green Coatings’ leadership team includes President and COO Bill Isenhart, who has experience as COO for Smash My Trash and VP of Franchise Sales & Operations for American Tire Distributors.

We categorize the Franchising Leaders as Highly Experienced.

How often and how well does the franchisor engage franchisees? What assistance is provided in starting and operating your business.

Lifetime Green Coatings provides comprehensive onboarding and ongoing training for franchise owners, covering all essential business functions, including effective sales strategies. Lifetime emphasizes the importance of proactive, “boots on the ground” efforts by franchise owners and their teams. The support extends to providing sales brochures, collateral, and materials, along with top-tier training for approaching various sales channels, ranging from direct consumers to home builders and potential commercial accounts. Additionally, corporate training programs equip franchisees with the skills to hire and manage their crews efficiently and effectively utilize our technology systems in daily operations. A key part of the initial franchise training is mastering the application of the product, which is conducted with the franchisee and a crew lead. Franchise owners have the ongoing benefit of sending their teams for training whenever needed.

We categorize the Franchisee Engagement as Highly Engaged.

In what kind of financial shape is the franchisor?

As with any investment opportunity, you should always consult with your financial and legal representative before making any decisions. Lifetime Green Coatings does make an earnings claim (Item 19) as outlined in their current Franchise Disclosure Document. You should review this carefully. With high-margin, proprietary products that are in demand from a performance perspective and good for the planet, Lifetime Green Coatings seems to have a competitive advantage that sets it apart from other competitors in the coating space. *Always consult your financial and legal counsel before making any investment decisions. The information presented here does not constitute endorsement or validation for information purposes only.

We categorize the Financial Health as Sound.