Many roofing businesses close before they even get started, unfortunately, and the main reason is that they don’t have the proper guidance, so let’s hear from Len Roofing & Remodeling a company that is an expert in this niche of business about how to start your own roofing business without making the mistakes that many have made? Firstly, we’d like to mention that starting a roofing business is not that difficult when obstacles are identified and avoided.
Get together with a good accountant, perhaps someone recommended by a trusted friend, and involve that person from the start. Then, before you spend a penny on equipment, create a plan that clearly outlines your business goals and how you plan to achieve them.
It is imperative to determine how much it will cost you before starting your roofing business. Direct costs such as materials and labor are easy to estimate, but other costs such as administrative and marketing expenses must be factored in to at least break even.
Determine all costs with your accountant:
Determine all costs with your accountant:
Now that you know what your costs are, you can add a margin for profit. If you compare local competitors, you will see that some roofing companies have prices higher or lower than what you need to charge. The idea is to sell at the price you need to make sure you make a profit and this is where a little extra help can make a big difference.
In addition to your accountant, find a mentor who has been through this process and has done so successfully. Roofing manufacturers will be happy to help, not compete with you. Quite the contrary, they care that you do well and they have the experience to do so.
When you register your roofing business, it’s also a good idea to register a business name. An attractive business name can provide more business value than a personal name, when it comes to selling in the future.
Licenses for roofing companies differ by jurisdiction. To find out the requirements in your area, check with your state or provincial authorities.
Each municipality you work in may require local business permits. Contact the municipality for information and to obtain such permits when you need them. Local government agencies may also require approvals, zoning, planning, and safety inspections.
By its nature, accidents and injuries do happen in the roofing industry. Insurance provides you with the means to financially protect your business, your employees, your customers, and yourself against injury to life and health, destruction of property, and lawsuits.
While you will always need general liability insurance, each state and province have their own insurance requirements for roofing contractors. To ensure the protection you need for the safety of your business, these are the different types of insurance you should discuss with your insurance agent:
A desk, a phone, and some basic stationery is all you need to get your roofing business up and running. Use the scheduling feature on your phone to set up meetings with clients.
Equipment for starting a roofing business will depend on the type of roofing you offer. Residential roofing is the cheapest and easiest way to get started. Commercial roofs require more capital.
Probably the biggest costs when starting out are those associated with equipment. So, buy tools as projects require and never spend more than you have during the startup stage. Don’t buy a new truck when you can get by with a used one. Maybe a good used one for less than $10,000 will suffice.
Decide what type of roofing material you want to work with. Asphalt shingles are the most recommended to start with; They are the most common and the most requested.
You can purchase builders-use shingles for a quality installation or upgraded shingles that cost more but look better, last longer and allow you to sell your work for more money.
Now, talk to roofing material suppliers in your area. Check to see if they have what you need, if they have a delivery service and how much it costs if you can pay on credit, and look for any special rebates or manufacturer promotions. Choose the provider that best suits your needs.
One of the best ways to hire employees is by talking to the people who walk in and out of specialty stores. Preferably people who know at least as much about roofing as you do, and that’s how you’ll find them. Postings on Craigslist can also result. Hire carefully, check credentials, and then go for the best.
When you hire employees, you can apply for payroll accounts through the Internal Revenue Service.
Train your employees in the workplace where you can observe and correct them. As your skills improve, so will your value to your company while continuing to make money for you in the process. You will also need to put a lot of emphasis on safety training.
At the beginning, you will fulfill various roles, from director to driver. But your most important role will be in sales.
Hello, I’m Rachel Collins. Until recently, I ran my own patchwork quilt business. Having retired from that I have turned my e-commerce site into this blog where I discuss business, home and garden and lifestyle topics for you to enjoy...Click to read on