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Starting a roofing business isn’t difficult if you can spot the pitfalls other people make and avoid them. Once you decide you want to start the business, you need to plan.
With all the information available online and the list of things to do and what to get, many roofing businesses fail to succeed.
Here are tips to help you start and establish your roofing business, just like Helsley Roofing Company in Plano.
Build a Plan
Before you can even register your business, you need to have a plan. It will help map out what you intend to achieve.
In your plan, you will need to establish the number of employees to start with. You should also remember, you need to set a budget for your business.
Register Your Business
Come up with a catchy roofing business name. You may consider a name other than a family name as it carries far more commercial value.
When registering your business, decide whether it’s a partnership, sole proprietorship, limited liability (LLC), or corporation.
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Establish Your Costs
It’s essential you determine how much it will cost you before you start the business. While direct costs such as labor and materials are easy to figure out, soft costs such as marketing and administrative expenses may be a little difficult.
Probably, you need to seek the help of an accountant to assist you. Work out costs for:
- Equipment
- Vehicle
- Business registration
- Insurance
- Website creation
- Operational expenses, including wages and salaries
- Administration
- Office space
Open a bank account for your roofing business and use deposit checks to cover materials expenses as you go ahead.
Set Your Price
Now that you know your costs, it’s important to add mark-up for profit. You can look at what other roofing companies in your area are charging.
You will find some are higher priced, and others charge lower than you would want to. The idea is to sell your roofing services at a price that allows you to make profits.
Another important element you should look into is ensuring your business. In roofing work, accidents and injuries can occur.
Purchasing an insurance cover for your business allows you to protect your business, employees, and customers against damages, lawsuits, and destruction of property.
While you should have general liability insurance, you may find that each state has different insurance requirements.
Besides general liability, other insurance policies you need to consider include:
- Workers Compensation
- Professional Liability Insurance
- Vehicle Insurance
- Equipment Insurance
Talk to your insurance agent to determine which policies you need to get optimal protection for your business.
Set up Your Office
If you can afford it, rent out an office space. However, you may start with a small office in your spare room, garage, or basement. Ensure you install a business phone and have the necessary office stationery.
Buy Equipment
Depending on the type of roofing services you offer, you need to get the right equipment and tools. Residential roofing tends to be cheaper than commercial roofing, meaning you will spend fewer amounts of dollars.
Remember that equipment probably accounts for the biggest portion of the startup costs. Consider buying second-hand equipment if you are on a tight budget to scale down your costs. Some of the items you need are:
- Ladders
- A truck
- Roofing rack
- Safety harness
- Nail gun
- And hand tools like a shingle hatchet.
Find a Supplier
Decide the roofing material you need to work with. You can begin with asphalt shingles because many homeowners tend to use them for roofing their homes.
To ensure quality roof installations, you can purchase builder-grade shingles or premium laminated shingles. Ensure the roofing supplier you engage with has all the items you need.
Hire a Roofing Crew
Your roofing employees will go a long way in growing your business, so hire carefully and retain the best workers.
You can find people who have been working in supplier stores as they know a thing or two about roofing. You also need to train your new hires.
Promote your Business
When getting started, you can consider marketing and advertising methods that will cost you fewer dollars. A well-signed vehicle featuring your name, phone number, and website address will work well.
Consider free business listings on search engines like Google and other directories. Craigslist ads are also a cheaper option to advertise your business.
You can register the business with HomeAdvisor or HomeStars and seek reviews to help promote your services.
With these tips up your sleeves, you can start your roofing company and join the competition. Make sure that you offer quality roofing services. Avoid making mistakes that roofing start-ups make so that you continue thriving.
