Podcast Summary: Escaping the Drift with John Gafford

Episode: He Sold His Roofing Business for $60M (Here’s What He Built Next) – Mike Feazel
Date: January 20, 2026
Guest: Mike Feazel (CEO of Roofmax)

Episode Overview

This episode features Mike Feazel, the CEO of Roofmax, who previously built and sold one of America’s largest roof replacement companies. Host John Gafford interviews Mike about his journey from traditional roofing to founding a disruptive company that extends the lifespan of asphalt shingle roofs. The conversation covers entrepreneurial grit, product innovation, the intricacies of dealer/franchise business models, digital marketing shifts in the age of AI, and leadership in virtual organizations. The tone is candid and practical, with a strong emphasis on actionable insights for aspiring entrepreneurs.

Guest Introduction & Background

[02:14–03:23]

• Upbringing: Mike was raised in a small Ohio farming community.
• Industry Origins: Entered the roofing business straight out of high school; founded a roofing company with his brother in 1988.
• Scale: Built the company to $20M in revenue (~$60M in today’s dollars) before selling in 2013.
• Transition: Sought to innovate by extending asphalt shingle roof life, leading to the birth of Roofmax; now lives in Puerto Rico, runs a virtual workforce in all 50 states.

Quote:
"I am a roofer. I borrowed my dad's ladder and put it on top of my car and started a roofing company." — Mike Feazel [07:09]

Selling the First Business & Spotting a New Opportunity

[04:17–06:32]

• Mike and his brother sold their roofing company after 25 years, driven by industry shifts and their innovative ambitions.
• Teamed with Ohio State University, Battelle Labs, and others to research roof longevity.
• Discovered a shelved patent for a bio-based shingle treatment—saw potential where others had failed.
• Licensed the patent on a royalty basis and iteratively improved the product to what is now Roofmax.

Quote:
"They’d given up on it. So this was a lottery ticket for them." — Mike Feazel on the patent holders [08:14]

Product Innovation: How Roofmax Works

[09:01–10:21]

• Roofmax’s product is a bio-oil that restores flexibility and “life” to aging asphalt shingles, similar to rejuvenating a brittle road with new oil.
• Backed by scientific testing at Ohio State, their treatment can make old shingles as flexible as new ones.

Quote:
"We passed the same flexibility testing required for a brand new roof. The only difference is one is dry and brittle and the other is flexible because it has oil." — Mike Feazel [09:55]

• Treatment can extend a roof’s life by 5–15 years, depending on timing and condition.

Market Approach & Business Model Pivot

[11:11–14:06]

• Initially tried to partner with roofers, but they preferred full replacements over lower-margin rejuvenations.
• Pivoted to targeting business opportunity seekers and built a dealer (not franchise) model.
• Now have 380 dealerships across the US since 2019.

Key Insight:
"Most roofers are replacement contractors, not maintenance contractors…they want the $20,000 replacement, not the $5,000 rejuvenation." — Mike Feazel [12:48]

Dealer Model vs. Franchise Model

[14:06–17:08, 28:32–29:01]

• Chose a dealership model (lower barrier to entry, more support-focused, aligned incentives, less regulatory friction).
• Dealers pay for product and equipment (~$70–$100K total investment) and are supported with marketing/training, but run their own operations.
• Model inspired by Renewal by Andersen’s successful structure; focus is on ongoing success, not upfront fees.

Quote:
"A lot of the franchise businesses are in the business of selling franchises…home services is not a very fair business model. Dealer model was the fairest trade off." — Mike Feazel [14:10]

Go-to-Market Tactics

[13:05–14:06, 15:25–15:54]

• Utilized franchise aggregator sites, social media (Facebook, YouTube), and PPC advertising to attract dealer candidates.
• Created robust corporate marketing (TV, radio, direct mail, social) plus dealer support.
• Focused on business opportunity seekers initially; now attract more experienced operators.

Marketing Challenges in the AI Era

[20:09–23:54, 32:06–35:27]

• Major investment ($20M) in TV/media advertising; Google AdWords increasingly expensive and less effective due to “zero-click” searches.
• AI-generated search summaries reduce the number of visitors to actual websites, hurting digital acquisition cost-effectiveness.
• Experimenting with new channels: SEO for generative AI, posting on Reddit, partnerships with retailers (e.g., Lowe’s).

Quotes:
"The zero click crisis is crushing commerce right now… 60% of people that go to Google don’t click on anything." — Mike Feazel [20:58]
"The marketing landscape is shifting so much…how much damage does it do before we settle into what a new market looks like, which drives the economy?" — Mike Feazel [36:01]

Differentiation, Competition & Industry Impact

[21:25–22:42, 41:57–42:49]

• Roofmax dominates in both brand marketing and scale; competition is nascent or lacks effective products.
• Welcome healthy competition to expand consumer awareness of roof rejuvenation.
• Positioning the company (and industry) as the antidote to wasteful, expensive, and unnecessary roof replacements.

Quote:
"90% of roofs don’t need to go to the landfill—they can get five more years. 80% we can take out 10 years. I see this as about a $10 billion new niche industry." — Mike Feazel [41:57]

Company Culture & Leadership in Remote Organizations

[22:42–25:19, 25:19–28:27]

• Operating virtually since inception; only manufacturing is brick-and-mortar.
• Management prioritizes transparency, weekly all-hands calls, annual in-person conventions, and EOS (Entrepreneurial Operating System) for quarterly alignment.
• Acknowledges the challenge of scaling culture after 50+ employees and the importance of personal touch, even with large teams.

Quote:
"You’re never going to beat the hallway…we had to build all these tools and assets out. It was me, my brother and my sister at the kitchen table when we started." — Mike Feazel [27:33]

On Customer Experience & Review Management

[36:36–38:14]

• Bad reviews trigger personal outreach from Mike’s brother; customer issues are addressed directly, and dealers are held accountable.
• Maintaining the highest rated/reviewed status is a core value and competitive advantage.

Roofmax: The Service & Its Value Proposition

[09:21–10:56, 38:18–41:18]

• Roofmax provides a holistic “tune-up”: shingle rejuvenation plus repair/replacement of damaged components.
• Service takes about 2 hours, is non-intrusive, and significantly less costly than replacement.
• Particularly valuable as insurers scale back replacement payouts, and consumers seek affordability.

Future Outlook & Exit Considerations

[32:06–33:56, 38:34–39:58, 42:06–45:11]

• Facing digital marketing headwinds due to AI and platform changes—pivoting to alternative sales/marketing channels.
• Interest from Private Equity (PE), but Mike prefers a strategic partner with long-term vision (not a short-term “flip”) for the sake of dealers and customers.
• Believes blue-collar/home improvement industries are more resilient to AI disruption and will see growth amidst economic uncertainty.

Quote:
"For me, it’s not just what we get for the company...it’s what is the outcome for all the people that believed in my brother and I to build their lives around it." — Mike Feazel [39:58]

Broader Reflections: AI, Economy, and Human Nature

[42:06–45:11]

• Mike and John discuss how AI will impact job markets, the prospect of universal basic income, and the risks of societal disenfranchisement.
• Suggest housing, home improvement, and blue-collar trades remain promising even as white-collar jobs face automation threats.
• Caution about social/economic disruption, but faith in entrepreneurial adaptability.

Notable Quotes & Memorable Moments

• "Most people quit too soon. We just did the grind and didn’t stop. Tenacity, persistence." — Mike Feazel [11:58]
• "We only make money when you buy product…A lot of franchises are in the business of selling franchises." — Mike Feazel [14:10]
• "Blue collar is not going away. Of all the things that can be replaced by things, blue collar is not going to be one of them." — John Gafford [45:39]

Important Timestamps

• [02:14] – Mike’s roofing background and origin story.
• [04:30] – Exiting his first company; motivation for innovation.
• [06:32] – Discovery and licensing of the shelved patent.
• [09:21] – Science behind Roofmax’s rejuvenation process.
• [11:11] – How insurance interacts with roof rejuvenation.
• [12:48] – Why traditional roofers resisted the product.
• [13:24] – Birth and evolution of the dealer model.
• [20:09] – Shift in digital marketing effectiveness due to AI.
• [32:06] – Current challenges and business pivots.
• [36:36] – Customer service and reputation management.
• [41:57] – Market size opportunity and environmental impact.
• [42:06] – Broader economic and AI implications.
• [44:27] – Blue collar future-proofing and societal trends.

Resources & Contact

• Website: roofmax.com (with two X’s)
• For Dealerships: roofmaxdealers.com
• Email: mfeazel@roofmax.com

Summary Takeaways

This episode is a treasure trove for entrepreneurs and business builders interested in:

• Disrupting legacy industries with overlooked innovations
• Leveraging licensing and improving others’ failed inventions
• The pros/cons and execution of franchise vs. dealer models
• Scaling a remote business and maintaining culture
• Navigating digital marketing in the AI era
• Prioritizing customer experience as a competitive moat
• The future of blue-collar businesses in an automated age

Mike Feazel’s journey is a testament to the power of perseverance, business model ingenuity, and a customer-first approach—delivered with humility, candor, and actionable insight.