Estimated to be growing at a compound annual growth rate (CAGR) of 5.9 percent between 2017 and 2025, the North American roofing industry is expected to reach $47,517.8 million in 2025. You can get your very own piece of the market by starting a roofing company.
Simply put, there will always be demand for roofing services, as long as there are buildings. Provided that they offer top quality services, new roofing businesses should be able to continue attracting a lot of business, especially with the ongoing development of new areas.
More importantly, if you are looking to establish a business that can outlive you and even your children, you will be pleased with the longevity of the roofing industry. If you can take the time to build a formidable business that’s perfectly positioned in the industry, you will have a good chance of leaving behind a great legacy. Successful start up roofers such as Roofers Birmingham has outlined their tips for success below.
Continue reading below for a simplified guide on starting a roofing company.
– Come Up With A Business Plan
The first step in creating a new roofing company involves putting together a business plan. The main idea is to come up with a plan that clearly outlines your business goals and some of the strategies you intend to use to achieve those goals. As such, you don’t actually need any help in creating this plan as it does not require any expert skills or even complicated charts, graphs or calculations.
– Identify Your Target Audience
At this early juncture, it is important for you to come up with a profile of the specific type of customer you wish to serve. This involves a number of steps. For starters, you should decide whether you want to serve commercial or residential customers. If you intend to serve businesses, decide on how big you want the buildings you intend to work on should be.
On the other hand, if you intend to serve residential customers, narrow down your ideal client to their preferred payment method – cash or financing. You can also identify other personal characteristics of the ideal customer including income range, profession and age among others.
– Registration, Licensing And Insurance
This step involves handling the legalities of starting a roofing company. You can start by choosing a suitable and memorable name for your new business. Remember to make a search for your preferred business name to ensure that no one else is using it.
Next up, you should choose a business structure. To make your new business a legal entity, you will need to register it as a corporation or LLC (Limited Liability Company). And, obtain a tax identification number – this will be used to pay taxes, open bank accounts and apply for loans.
Roofing can be risky. As such, you will need insurance to protect your business against covered risks. First and foremost, you will need general liability insurance to shield the business against any damage caused on client property. You will also need workers’ compensation insurance if you intend to hire employees – a necessity in this line of work.
To have a better idea of the legal modalities of starting a roofing business, it is recommended that you hire an attorney, or simply seek advice from a local roofing business owner.
– Create A Brand
Next up, you should start building a brand for your business. Create a logo that can be plastered on your work truck(s), posters, business cards, website and any marketing materials. You can seek professional assistance from a qualified expert.
To spread out your brand, you can go a step further and create branded social media accounts as well. Just remember to use the same voice on each platform.
– Get The Necessary Equipment
To provide any roofing services, you will need to have the right equipment. Common roofing equipment includes, measuring tools, ladders, rakes, brooms, nail guns, hammers, tarps, safety gear, hard hats, shingle removal tools, pry bar, air compressor and cutting tools such as utility knives, blades and saws, among others.
It is worth noting that the specific type of roofing equipment needed is dependent on the nature of the roofing services you wish to provide. Therefore, this list may vary.
– Get A Reliable Team
For safety and efficiency purposes, you should not handle roofing jobs on your own. With that in mind, you should take steps towards hiring a good team. As a start, you will need to hire individuals who have some level of roofing or construction experience. Since this type of work involves a lot of heavy lifting and climbing, physical fitness is a must.
In addition to hiring a roofing team, you should also think about hiring office staff – depending on the scale of your new operation. You may need accounting, marketing and office administration experts.
Once everything is set, you will need to start looking for customers. This should be easier because you already have a clear idea of the type of customer you wish to serve. Now, all that’s needed is to get your business your business/brand in front of them.
Start by using organic (SEO) and paid (SEM) means to get your business in front of customers online. Your business should be easily discoverable by anyone searching for “roofing companies near me” – and other common/relevant search terms.
You can also partner with other businesses offering similar or related service websites such as homeimprovementsdublin.ie, which offer services like HVAC, plumber, and electricians, with the aim of having them refer business to your company. Consider offering bonuses as an incentive.
Last but not least, you can go door to door, in search of customers. However, you should be careful when using this strategy as not all people will be receptive to it.
– Don’t Forget To plan For The Off Season
The roofing business normally experiences an off season, during winter in colder climates. As such, you need to come up with a great strategy on how to ensure that your business survives such periods. For example, you can save up some money during the rest of the year, to cover any expenses and taxes incurred during the off season.
Starting a roofing business is no easy task. Fortunately, with the right approach, you can prepare your business for success at this early stage. Use the above tips to get your business off the ground; and, don’t be afraid of making any necessary changes as you move along to ensure continued success.