On May 2nd, the Daviess County CEO Cohort had the opportunity to visit Main St. in Washington, IN, where they met with Greg Deaves at Sherwin-Williams. During this visit, Greg provided an insightful overview of the paint industry and detailed a profit/loss analysis, emphasizing the initiatives essential for profitability in the corporate world. He also discussed various regulations impacting the paint industry and shared a fascinating fact: “Paint has been around as long as the caveman.”
Greg elaborated on the factors affecting color and highlighted the importance of engaging with Original Equipment Manufacturers (OEMs) in the county. He pointed out the benefits of working for a corporate-owned business, such as Sherwin-Williams, and the advantages of being a store manager, which involves many of the same responsibilities as owning a business. The Washington store, under Greg's management, prides itself on offering high-quality paint, supplies, and stains, catering to a wide range of customer needs with options categorized as Good, Better, and Best. Greg stressed the importance of promptly greeting customers upon their arrival.
Color, according to Greg, plays a crucial role in attracting customers, aligning with the notion that beauty is subjective. He mentioned that diversification is vital in the industry, with every project beginning as an idea. Interestingly, DIY projects account for 15% of their business, underscoring the importance of catering to this segment. The CEO Cohort expressed their gratitude to Greg for his valuable time and insights.