Roofing is covering and framing of roof tops of houses using wood timber, asbestos, PVC and other such materials except the common concrete. Roofing is basically different from common house construction which generally uses concrete as base. Roofing is basically done with a different method is cold areas or for temporary cheap housing.
Places that are covered with snow at certain period of a year use roofing to avoid accumulation of snow. You can easily find such roofs in cold areas that have snowing for a brief period. Roofing is also done as an alternative for concrete houses as they are cheaper than the later.
Temporary constructions, shops, roadside restaurants and many other structures commonly use roofing in order to cover their infra. Roofing is quite cheap when compared to concrete construction and therefore suits the said usage. Many in USA do roofing on their own while many take the help of professionals. The construction of roofs is based on a different engineering pattern in comparison to concrete ones.
Because of the reasons that it is cheap and it also requires very less time to be fixed, it has become very common in USA especially for those who live in cold areas, want to make temporary structure or cannot afford for a standard concrete housing.
Roofing business has been dominating the market for quite a long time and has a billion dollar market which is seeing positive growth. This also means that there’s lot of opportunity in the business and those who are interested in it can invest.
Overview of the Roofing Business:
The first step towards starting any kind of business is to do the required research about the business and going through even the minutest details. For this it is important that you get into the business and understand it from inside rather than understanding it from outside as it may not give you the correct perspective about the business.
You can join as an employee in one such roofing business and gain understanding, experience and make friends that can guide you in the later while of your business. Network with people who are in this business and understand their perspective. It is not always that you follow what they say but it will definitely help you when you would be starting your own business.
The next step should be to do extensive research or what in professional term is called feasibility analysis of your proposed business. That will give you all the information regarding your business and it will also answer many queries that you have in your mind. Some common questions that come in mind while starting a roofing company are as follows:
- How to proceed with the first step in roofing business?
- How much investment is required?
- Which market would be ideal to start in?
- Who are the competitors in the market?
- What is the latest trend in the roofing business?
- What resources are required in the business?
- How much expertise and tech usage is required?
- How many employees needs to be hired?
- License, permissions and other documental and legal issues
- Return on investment, profit margin and the road ahead.
Such questions can only be answered in a structured way through a professional method known as feasibility analysis. Hire a professional who can do this job for you. This will solve many queries of yours and will also give a detailed roadmap for you to move ahead.
Roofing Company Business Plan
Business plan is a documented book that carries all the details regarding your proposed business that has a roadmap for your business and what you aim to do with respect to your business. It has the financial plan. How much investment is required in your business, finance management, scale at which you will operate, area of operation, potential customers and market, potential competitors, number of employees, expected profit, etc.
A business plan works as a guide for you when you are amidst your business. Having a detailed business plan ensures that you don’t deviate from your aim and remain focused on your business. It also helps you in securing business loans from banks, getting investors, partners, associates, etc. So hire a professional and get your business plan ready. This blueprint will help you in sailing amidst the tides.
Registering your Business
Choose a perfect name that can be later on built as brand for your business. Get yourself registered as a legal entity you find right for your business. People generally use proprietorship for small business and LLP for a relatively big business. You can choose as per the advice of your business advisor based on your business plan. Also get a logo for your business as it serves as an identity. Registering your business will require various kinds of documents such as
- Bank account number
- Valid identity
- Details of citizenship or in case you are a foreigner then business visa details
- Business plan
- Capital investment details and minimum bank balance necessary
- Permits and licenses necessary for the business, etc.
Register yourself as a tax payer at the appropriate tax authority which will ensure smooth business transaction for you free from any legal difficulty. Consult your business or legal advisor regarding the same as they can help you in the documentation issue which may otherwise be time consuming and also tedious.
Capital Investment and Managing your Finance
Your business plan based on the feasibility analysis that you conducted will give a rough figure regarding the investment that is required to be made to start your roofing business. Capital investment is something without your business won’t become a reality. Therefore you have to manage the required capital.
You must at least have some portion of the total investment reserved in your bank account as you start. For the rest you can take a bank loan and for the remaining you can attract potential investors who may be interested in your business or you can enter into a partnership with your partner.
If you have limited budget then you can cut your cost where it can be possible. Even in normal course you should be careful in spending your money as in case of loss you may get into serious trouble. When you have taken loan then spend each dollar judicially.
Managing Resources, Roofing Equipment and other Tools
There are two aspects to it. Some of your customers would have all the resources and materials required for roofing with them and they will only require your expertise and tools with which you will fix. The other type of customers are the ones who will ask you to get everything.
For the second type you will have to manage all kinds of resources and roofing equipment required to set up the roof. Also, you will also have to get at least two sets of all the common tools and machines that will be required to set up the roof. This will be your personal tools which you will be using almost on daily basis to fix the roofs.
You can own all of them and in case if some of they are a bit expensive then the best choice would be to lease or rent them initially.
For the roofing resources and materials you can get into a contract with companies or even retailers or distributors selling roofing materials. It has a quid pro quo effect as it will help both the sides. You can get cheaper materials from your distributors as and when required while they can get regular sale from you.
Expertise, Experts, Technicians and Labor
Expertise is necessary if you want to grow in roofing service business. The new technology and methods of roofing have changed significantly. Also the material used, method of fixing them, increasing their durability and quick repair has also been advanced. Surviving and exceling in the market comes with excellent expertise over your subject.
Hire experts who can do justice with your business. Technicians who will do the real job should be excellent in their job along with having experience and efficiency for the same. Personal behavior also matters while rendering services. They must be trained to be polite, gentle, punctual, efficient and hard working.
This is the only USP that makes the difference. Your expertise and service is what that matters at the end of the day on its basis you will erect your brand. Hire employees while caring about your budget. Since it is the most important part of your business therefore you should invest much on this.
Your Office and Warehouse
Since you are a business now it is obvious to have your own office. Choose a location that suits best your business interest along with connectivity. It should certainly be closer to the area of operation. Your target market should be easily accessible in record time from your office. There’s nothing much to advice regarding the maintenance of your office which is obvious that you will maintain. Your desk job employees will be operating from your office while your technicians and engineers would be working on the field. There should also be a warehouse which can be at your office or at any closer location where you would keep your equipment, tools and carrier vehicle.
Your Market: Getting Customers
What would be your market? Who would be your potential customer? Whether you would be dealing in commercial roofing or domestic or both? Such issues need to be determined. Based on your expertise and potential you should set up your foot where you can make maximum gains.
Start to target your potential customers through proper marketing plan and advertisement. You can network with infra developers and people who are into construction business as they very often require the use of roofing contractors. They can also be helpful in giving your recommendation to customers. If you have gain the required expertise you can also bid for larger contracts. But that is a distant process. You can hire a marketing team that will do the marketing job for you.
A perfect advice for you would be that you should work in the roofing industry for some time in a company and start to make contacts and network. Whichever client you meet give them your personal business card and tell them that there are certain services that you can also provide.
You can also network with other such employees working in roofing companies to do the same and in return you can give them the fixed commission. This is a very successful and easy way to get new customers. Since you would be already rendering service to them they would also have the experience of your work. If they like your work then there is probable chance that you have got a new client.
Your Service Speaks Volumes: Be the Best in Your Business
Your service is your biggest USP. It is your best ambassador, it is your best marketing agent and your perfect business card. Work speaks volumes for you therefore focus more on your service. You may have the best advertisement and marketing and you may eventually get many customers but if you fall short in your service then it is probable that you will lose your hard earned customers. In services of this kind word of mouth matters a lot.
A happy and satisfied client can be your best marketing agent for free and in case you have a dissatisfied client he may prove to be spoiler for your business. Focus on rendering the standard and professional service that matches no one else in your market. You should not be focusing on your profit but on your customers especially in your initial days.
Once a brand is built on a good reputation it lasts longer than any other living entity. It is obvious that you have to live up to your reputation but it requires much hardship to build one. Therefore be honest and dedicated in your business and strive to be the best in business who has no match and you will eventually succeed.