June 7, 2022, midnight
Are you ready to learn how to start your own roofing business? If so, LegalRegistration.com is here to assist. Owning a roofing company is a great opportunity. After all, almost all types of physical structures need roofs. From a business to a house to a government building or school. Plus, almost every roofer receives consistent work. That’s because no roof can last forever. In fact, the average roof only lasts around fifteen years. Please continue reading to learn how to get your roofing business off the ground. If you have any questions, do not hesitate to give our organization a phone call. How To Start Your Own Roofing Business.Start a Roofing Company by Using the Following 11 Steps The eleven steps below will help you get started and form your own roofing company. Our steps begin by focusing on the business planning process. This includes forming your new company into an LLC or other legal entity. The steps will also walk you through the accounting and insurance formation process. Once again, feel free to contact LegalRegistration.com if you have any questions. Our team of business experts has many decades of experience starting new companies. The Best State for LLC.Step #1: Begin the Business Planning Process It’s time for you to plan how your new roofing business will function. We recommend that you put your plan to paper and type it out. The plan does not have to seem complicated or long. The key is to define what you want your company to do. Then, you can fill in action steps to take so that the roofing business comes to life. Once you have a draft of your plan in place, you should… Step #2: Meet With an Accountant It is crucial to meet with an accountant when creating a new business. You might have a trusted friend who can recommend a local accountant. If not, you can search for well-reviewed business accountants on Google. It is best to present your business plan draft to the accountant. Do so before you spend your first dollar on any roofing equipment. Your business plan should list your goals and how you intend to achieve each goal. Keep in mind that you could also meet with a local business consultant. The SBA (U.S. Small Business Administration) can also provide resources. In most cases, it’s best to meet with an accountant before hiring a consultant. This way, you will have an unbiased perspective of potential roofing costs. Step #3: Define Specific Business Costs It’s now time to establish the costs of your new roofing business. This step is crucial to the success of your company. You do not want to start your business until you know every single potential cost. Otherwise, your business could experience tremendous debt. Direct costs are easy to estimate. These include the costs of labor and materials. Meanwhile, soft costs are more complicated. Here are two examples of soft costs: marketing and administrative expenses. Fear not, your accountant can help you estimate both direct costs and soft costs. You and your accounting should create a list of every potential roofing cost. This includes a vehicle, roofing equipment, insurance, and registration. Do not neglect roofing operation expenses. These include salaries and labor wages. Also, do not forget that you will have to spend money to get a new roofing website. Plus, your company will need promotional material, stationary, and signage. Ask your accountant about opening up a business bank account for the company. He or she will explain how job deposit checks work in relation to material costs. Step #4: Create a Pricing Structure It’s now time to set the price for every service at your new roofing organization. Your accountant should also assist you with this step. Why? Because your numbers must make sense. You already calculated the total roofing-related costs. This means you can add mark-up to ensure that you're making a profit every month. Take your time and research the other roofing companies in your area. Doing so will give you a sense of the type of pricing that you need. The key is to ensure that your business turns a profit ASAP. Your accountant can only do so much for you. Try to find a roofing mentor who knows the industry and won’t compete against you. Step #5: Register Your Company This step involves setting up your new roofing business with the US government. Consider registering a DBA (“doing business as”) name. Put some thought into the name of your DBA. A catchy and unique name will hold more commercial value in the future. Picture your business name on the sides of your fleet of roofing vehicles. Avoid using a family name in case you decide to sell your business in the future. You must now decide if you want your company to function as an LLC. (“LLC” refers to a limited liability company.) If not, your business should operate a partnership, corporation, or sole proprietorship. Please contact LegalRegistration.com for help registering your company. We can provide any type of legal registration for a new roofing business. From an LLC to a sole proprietorship, corporation, or partnership. Step #6: Secure Licensing It’s now time to provide your roofing business with the authorization to operate. Every US jurisdiction has unique contracting licenses that roofing companies need. That’s why you need to check with local and state authorities. Chances are, you will need more than one local business permit. So, who should you contact? Try reaching out to city hall to ask about business permits. Keep in mind that your local government will have rules about zoning and safety. Step #7: Get Insurance Protect your business investment by getting insurance that roofing companies use. After all, roofing is a tough business for workers. Accidents and injuries will sometimes take place. Insurance will help you protect the financial state of your business. Plus, insurance will also protect your workers and customers. This relates to more than workplace roofing accidents. Insurance is also for lawsuits and the destruction of property. The first thing that you should do is secure general liability insurance. Then, check with your state about other insurance that roofers must have. General liability insurance covers damage that is not related to employees. (Or, to contractors that your business works with.) Workers’ compensation insurance is also important. It focuses on compensating for work-related injuries of employees. Many roofing companies have professional liability insurance. This is the type of insurance that can protect a business from lawsuits. Of course, you will also need to get vehicle insurance and equipment insurance. Step #8: Set Up Your First Work Location This step does not mean that you need a complete office for your roofing business. That can come later. But what you do need is a place for your phone, desk, and computer. Then, you’ll use the space to take your brand new roofing business to new heights. Plan on using your phone every day to schedule customer appointments. Once you have enough cash flow, you can hire a receptionist for this task. Do not use a personal email address at your new roofing company. Instead, set up a specific email address for the roofing business. Step #9: Get Your Equipment Ready You do not need new equipment to start a roofing business. Instead, you can buy used equipment and tools online. Only buy equipment that you know your team will use. For example, do you plan on doing residential or commercial roofing? Residential roofing is a lot cheaper. Meanwhile, a business owner must have more capital for commercial roofing. When it comes to startup costs, roofing equipment takes up the biggest portion. That’s another reason to only buy tools for common jobs. Remember, your business should never spend more than it has at this step. There’s no reason to buy a brand new truck when an old one will run well. In fact, you can find many used roofing trucks for under $10,000. Besides a truck, you will also need a ladder, nail gun, roof rack, and safety harness. Plus, your business will also need many hand tools, like a roof shingle hatchet. Take your time and browse online to discover tools that your company will need. Step #10: Find Suppliers It’s now time to get outside and meet local suppliers. Pick the roofing suppliers that you think are best for the job based on price. The key here is to figure out which type of roofing material you need. In most cases, you will need a lot of asphalt shingles. These roof shingles stay in demand year-round. Some roofing businesses prefer buying builder-grade shingles. Others opt for premium laminated shingles, which are more expensive. Ask around town to see if there are any deals or promotions. Always choose a supplier who best fits the needs of your business. Step #11: Hire Roofers Put a lot of thought into which roofers you decide to hire. You might realize that some of your hired roofers are not good at their jobs. That’s okay. Keep the best roofers that you have. Then, get rid of the bad ones and hire more roofers. Also try to talk to roofers walking in and out of supplier stores. That’s a great way to hire new roofers without going online. If you do go online, you can place ads on popular websites like Craigslist. Again, exercise caution when hiring. Check credentials and run background checks on all roofers. Once your team’s in place, you can focus on roofing sales and marketing. How To Start Your Own Roofing Business.Questions About Starting Your New Company? Contact Us Today Please contact our organization if you need more advice about starting a business. You're welcome to pick up the phone and give us a call today. If we can't answer, please leave a message. One of our dedicated legal professionals will return your call ASAP. You can also reach us by email or even send out a message here on our website. We look forward to helping you build a world-class roofing company. Good luck!
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