Roofing Business Profitability – Is It Worth It?
Every home needs a roof. Roofs keep the weather out and protects the owner’s possessions. Even a minor malfunction can cause serious problems. A few missing tiles can easily let in lots of water. Water damage can harm everything from the appliances to the walls to the owner’s furnishings. Heat and humidity can also harm the home’s structure. In the event of major roof damage, the roof needs to be fixed immediately. If left unchecked even for a few hours, the entire home structure may be in danger. Those who are looking to start a roofing business will find a ready market for their products. Before entering the business, it’s best to find more ways to maximize both profits and customer satisfaction. A carefully managed roofing business with many skilled employees and lots of happy customers can flourish and profit all year long in any economy.
Understanding the Business
Roofers work on many different types of structures. One day, the workers may work fixing a leak for a local supermarket. The next, they might be called to fix a residential roof after a serious rain storm. Roofers are also called out in many kinds of conditions. A new homeowner may ask for a minor roof checkup after they’ve just brought a home. The roofer may also be called in the middle of the night if a tornado hits or hurricane hits the town. Roofers are also called out after a fire. Any roofer needs to understand his customer’s expectations and know how to meet them promptly. The roofer should also know the sort of timeline expected of them. A roofer may be called on to do a quick fix that might take them an hour or less. On the other hand, they may also be asked to replace the entire roof. This can take several days or longer depending on the conditions of the roof.
All roofers will also need to meet certain national licensing standards as well as understanding the kind of materials they use for any given job. Part of the process of running a roofing business means finding qualified employees who have the right training to get the job done correctly from the very first. It also means making sure the roofer uses the right materials correctly each time. A roofer needs to be able to delivery quality service every single time. If something goes wrong, it’s often immediately noticeable by the client. A leaky roof with materials that have not been applied correctly will cause damage to the home’s structure. This can leave the roofer on the hook financially for repairing the job. It can also leave them responsible for any additional damage to the home because of a poorly done job.
Putting it Altogether
The skilled roofer can make it all work for them. Anyone who wants to enter this business should make sure they have all the details in place before they begin. This means researching the business first. Someone who wants to open up their own roofing business should consider working with another roofing company first. This will give them a firsthand look at how the business functions. A year of experience can help help any potential roofer know what has to be done to make it profitable before they begin. Finding quality workers who share this vision is ideal. The same is true of an understanding of the materials used, the cost of labor and the kind of service expected of the roofer. All will play a role in making sure their roofing business meets their profit goals.
Typical expenses for Roofing Contractors:
Roofers have all types of expenses, most of which are just like normal businesses. Here are some of the main ones:
- Start Up Costs
- Business Licenses
- Employee Labor
- Insurance
- Marketing & Advertising
- Office Expenses
- Equipment Costs
- Vehicle Costs
- Travel Expenses
Anyone that is considering starting a roofing business should reach out to a qualified tax, insurance and attorney professional to get the best advice for their specific situation.