Starting any business is always going to be challenging. You might have been a roofing contractor for a couple of years and you’re looking to start your own company. Even with the experience, starting a company will require that you wear several hats which could be challenging for someone who is coming from a technical background. We live in an age where information is readily available and accessible and there is no reason why you shouldn’t give it a try. In this guide, we’re going to highlight some of the factors you should have in mind before starting a roofing business.
Start With a Business Plan
It is important that you start with a business plan. The plan will act as a guide so that you know what is expected at every point. A business that fails to plan will be planning to fail. You don’t need to have an MBA in order to come up with a plan. The plan should be basic as you don’t want to be carried away. The plan will clearly outline your goals and you intend to reach them. It will also include details on how you intend to finance the business.
Choosing a Name
Choosing a name can be overwhelming. Remember you’re building a brand and you want to go with something that is memorable. You can ask friends and family for ideas and don’t forget to include the word “roofing” in the name. You should avoid names that are long and difficult to remember. Make sure there is no company that has been registered with the same details. You will also want a name that will make it easy for people to search when looking you up online.
Local Business
You should be tapping the resources available for local businesses. Since you will start by targeting customers in your locality, it only makes sense to do so. Networking is important when you’re just starting out. You can join professional organizations so that you get to learn from people who were once newbies. You can even get potential customers through such events.
Understanding Taxes
This is something that not a lot of people like talking about yet it could make or break a business. Even if you will be outsourcing the accounting, you will still want to know the finances of your business. As such, it is crucial that you make an effort to understand taxes and how they affect the roofing business.
Legal Obligations
As a roofing company, you will be required to be licensed. The laws will vary from one state to another. There are local permits and contracting licenses you should be worried about. You will also need to have worker’s compensation insurance for your employees. Most homeowners will not allow you to work on their house if you don’t have the necessary credentials.
Planning for Off-Season
The roofing business is not always blooming throughout the year. Winter can be slow and you will need to take this fact into consideration when organizing your finances. You will need to set aside money so that everyone in your company is covered when there is no business.
Marketing Plan
Most businesses fail because there is no cash flow. In order to get customers, there is a need to have a marketing plan in place. We live in an age where the internet has revolutionized the way we do business. You’re likely to get a lot more customers if you focus on digital marketing. This is because more than 50% of local businesses will begin with an online search. It is easy to sell to someone who is already looking for the service. Your business should be on the first pages of Google if someone is looking for roofing companies near me.
In the marketing plan, digital marketing should be a priority. You might have to hire an agency once you start getting business.
Educate Yourself on Sales
Even if you’re a technician, you will need to learn about sales. Starting a business requires that you get out of your comfort zone. You’re able to sell the product since you understand it well. Even if you’re hiring salespeople, you should make sure they’re coming from a sales background.
To conclude, you should only go into a business that you understand. Those people who start roofing businesses are either from a technical or a sales background in the same industry. The first years might be rough but there is nothing good that comes easy.
