Costen Floors Revenue and Competitors

Short Pump, VA USA

Location

N/A

Total Funding

Consumer

Industry

Estimated Revenue & Valuation

  • Costen Floors's estimated annual revenue is currently $13.3M per year.(i)
  • Costen Floors's estimated revenue per employee is $225,900

Employee Data

  • Costen Floors has 59 Employees.(i)
  • Costen Floors grew their employee count by -6% last year.
Competitor NameRevenueNumber of EmployeesEmployee GrowthTotal FundingValuation
#1
$15.8M708%N/AN/A
#2
$3.9M2222%N/AN/A
#3
$7M350%N/AN/A
#4
$13.8M613%N/AN/A
#5
$12M53-2%N/AN/A
#6
$6.8M3417%N/AN/A
#7
$13.1M58-5%N/AN/A
#8
$21.3M854%N/AN/A
#9
$2.4M1623%N/AN/A
#10
$8M4021%N/AN/A
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In 1948 when Costen Floors, Inc. was founded by Ralph L. Costen, Sr., the flooring business was very different than it is today. All homes and most businesses had hardwood flooring. The reason was simple, most financial institutions and federally insured home mortgages required homes to have hardwood floors because of their structural longevity. In the mid-1960s the federal government changed the rules to also allow FHA/VA home mortgages to apply to homes with carpet over a wood underlayment floor. The financial rule-change triggered the explosion in flooring options that we enjoy today. Costen Floors competed with the other flooring materials for over two decades by concentrating on hardwood flooring, offering a variety of woods and flooring styles while keeping the price competitive with less expensive flooring alternatives. In the process, Costen Floors became the largest hardwood flooring dealer in Virginia. However, by the late 1980s, many of the carpet and tile dealers started entering the hardwood floor business. Costen Floors owners, Ralph L. Costen, Jr. and Nick Rasnick decided what was good for the goose was good for the gander. The result was that the two opened a sister company, American Floors, Inc., that focused on carpet, ceramic tile, marble, and vinyl. The companies shared a joint warehouse in northern Henrico and eventually a joint showroom in the Shoppes at Wellesley on Lauderdale Drive. Rasnick primarily ran the American Floors operation, which eventually added blinds, window treatments and wallpaper to its product lines, and Costen ran the hardwood flooring aspect of the two ventures. The firms shared many of the same residential and commercial customers, but confusion with name identification persisted as customers constantly said, "I didn't know you did ‘x' too." To end the confusion, Rasnick and Costen decided to fold the different product lines under the more familiar Costen Floors name and build a new showroom and warehouse to showcase their products and alleviate cramped space in their smaller, separate facilities. In May, 2000 the new Costen Floors showroom opened at 9840 Mayland Drive in the west end behind the West Park Shopping Center. The 30,000 square foot brick facility allows customers building or remodeling a home or commercial facility to have one location to find a huge selection of hardwood, ceramic tile, laminate, carpet, vinyl, marble, wallpaper, blinds and window treatments. Rasnick notes, "During the construction or remodeling process, there are so many decisions to make involving materials and colors, that having one location with virtually all of the major choices under one roof makes the process considerably easier for our customers. In addition, we offer quality product lines that allow us to sell and install with confidence that it will last, and look good years from now." Costen adds, "Our work is found in the Virginia Museum of Fine arts, the new VCU Siegel Center and thousands of homes around Richmond that are the personal showplaces for those particular customers. We have our family name and over 50 years of experience and reputation that stand behind our products and work. The secret of our success has been the value statement my father used to run this company and instilled in me, do quality work for a fair price and the customers will come." Combining all of their product lines and workers under one roof has also made it easier for customers to understand that Costen Floors is much more than oak hardwood these days. While the Richmond home buyer will probably never abandon their desire for oak flooring, some recent Costen jobs have included bamboo and other exotic woods. They are also finding people using the larger, more decorative ceramic tile in non-traditional spaces, such as for flooring in screened porches and throughout kitchens. The new laminate flooring is also replacing vinyl in many of its traditional places, like utility rooms, where the laminate provides moisture resistance and superior durability needed in a utility room, yet have the look of wood, stone or other materials that vinyl just can't match. It is more expensive though, so many people still use the popular, low maintenance vinyl flooring. The window treatment, blinds and wallpaper business is the newest area for Costen Floors to provide for its customers. Not only have they stocked hundreds of wallpaper books, and a variety of blind styles from firms like Hunter Douglas, but they have added interior designers on staff to help customers understand how and where certain materials and products can be used. For example, a customer may not be aware that an affordable remote controlled blind is available for high foyer windows, if they didn't have the assistance of expert staff members. The bottom line for Costen Floors is they have it all, wall to wall, when it comes to your flooring, wallpaper, window treatment and blind needs. If you've seen it or can imagine it, they probably stock it, or can get it and have it professionally installed in your personal showplace. The new Costen Floors showroom at 9840 Mayland Drive is open Monday, Wednesday and Friday, 9-6; Tuesday and Thursday, 9-7:30 and Saturday, 9-5.

keywords:N/A

N/A

Total Funding

59

Number of Employees

$13.3M

Revenue (est)

-6%

Employee Growth %

N/A

Valuation

N/A

Accelerator

Company NameRevenueNumber of EmployeesEmployee GrowthTotal Funding
#1
$15M773%N/A
#2
$26M124-19%N/A
#3
$15M1543%N/A
#4
$30.1M189-1%N/A
#5
$75.1M2531%N/A