Start a roofing business by following these 9 essential steps: You’ve discovered the perfect business idea and you’re ready to take the final step to start it. There’s more to starting a small business than simply signing it with your state’s department of business regulation. You’ll need to register the company, obtain permits and get licenses. Each step is essential to running the business properly.
To make sure you’ll be able to sustain yourself for the long term, create a written business plan that details your plans for the future. Even if you’re just planning on repairing or replacing a few shingles on your roof, a business plan can be an excellent way to assess your short-term and long-term cash flow. A solid projection of future financial income will help you choose a roofing business with the right balance of predictability and stability. Here are a few more tips for planning your business’s financial future:
Think carefully about the type of materials you plan to use for your roofing company. Will you be offering either asphalt shingles, metal roofing, slate shakes, or wood shingles? If you’re planning on doing any kind of contracting work on residential roofs, be sure you know what kind of warranty you will be getting as well as the length of time you’ll have to carry the warranty. Find out how much of a deductible you’ll be required to pay before being paid your actual costs.
There’s no point in starting a commercial roofing company in a year when home prices are falling. Instead, consider starting your new roofing business during a time when home prices are rising. The real estate market in general is considered a recession resilient market. Many homeowners are refinancing their homes in preparation for the upcoming market. If your residential roofing contractor is also a roofing contractor, consider offering either general or specialty contracting services as a way to increase your business.
Keep in mind that contracting work does not include all roofing services. For instance, asphalt shingle replacement isn’t included in a general contractor’s repertoire. On the other hand, an experienced roofing company will know where to get roof replacement quotes from different roofing manufacturers and installers, including asphalt shingle manufacturers. A good contractor will also have a list of roofing products and a detailed estimate of all work to be done for a one-time cost or an hourly rate. Make sure you find this out when interviewing potential roofers, so you don’t wind up paying more for a roof replacement than the roofer initially told you was going to cost.
Another thing to keep in mind when you’re trying to decide which roofing company to hire is how they will provide you with after-sales services and repairs. Most roofing companies offer some sort of repair service, whether it’s a small patch or something larger. But what if your roof needs a roof replacement? You may have to pay a little bit more for the roof repair, but you’ll also be covered by the warranty should anything happen to your roof after it’s installed. Make sure your contractor can show you examples of his or her experience with different types of installations and repairs.
Your final consideration when choosing which roofing company to hire is whether or not you need liability insurance and/or compensation insurance. Both of these are required by law in every state and are designed to protect you in case someone is injured while working on or using your roof. Whether you’re using cheap shingle material or expensive slate tile, both materials could potentially fall and injure people. However, if you use cheap shingle materials your risk factors are much higher because of the low quality of the materials used. If you use expensive materials or slate tiles, your risks are much lower, but the protection afforded is not as high.
The residential roofing industry in the United States has faced many challenges over the past several years. Many roofing businesses have gone out of business in recent times due to the state of the economy. However, a recession resilient business such as a commercial roofing company can be very successful even during a recession. By keeping their heads held high by offering quality work for an affordable price, many residential roofing businesses can continue to expand and offer quality jobs for many people throughout the country.