With so many tips available online, with so many lists of what to do, what to get and where to get it, how is it possible that new roofing companies are failing more than those that succeed? The answer is simple: Because nobody talks about obstacles.
Get an accountant
Meet with a good accountant, maybe someone recommended by a trusted friend, and involve that person from the beginning. Then, and before spending a penny on equipment, develop a plan that clearly delineates business goals and how you plan to achieve them.
You have to know before you start.
It is imperative to determine how much it will cost you before starting your roofing company. Direct costs such as materials and labor are easy to estimate, but other costs, such as administrative and marketing expenses, must be taken into account to at least cover the expenses.
Determine all costs with your accountant:
- Company Registration
- Operating expenses, including wages and salaries.
- A small website
- Promotional material, including posters and stationery.
- Commercial facilities, if not your home.
Open a commercial bank account for your roofing company. The work checks that are deposited can be used to cover the costs of the materials as you go.
Set your price
Now that you know what your costs are, you can add a margin for profit. If you compare to local competitors, you will see that some roofing companies have higher or lower prices than 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, look for a mentor who has gone through this process and has done it successfully. Manufacturers of roofing products such as IKO will be happy to help you, without competing with you. Quite the contrary, they care that you do well, and they have the experience to do so.
Register your company
When you register your roofing company, it is also a good idea to register a business name. An attractive business name can provide more commercial value than a family name when it comes to selling in the future.