One of the most important aspects of starting a roofing business is establishing a business bank account. Look for a no-fee account. Some local credit unions provide special financial assistance for new businesses. Another important aspect is marketing, which may seem difficult to start without any experience. Purchase plastic yard signs with your business name and contact information, including a phone number. In the beginning, you will want to hire an employee or two who have basic skills. roofing contractors near me
Other costs associated with starting a roofing business include purchasing a truck, ladders, safety gear, and insurance. Renting or buying office space and purchasing stationery are other startup costs. The amount of startup capital required to start a roofing business depends on the area of operation and the type of projects that you plan to take on. Depending on where you live, used equipment can be less expensive than new ones. You can also rent the equipment you need for a lower cost.
To become a roofing contractor, you will have to get a business license and obtain any necessary licenses. Federal regulations include doing business as and health licenses from OSHA. State licensing requirements vary, so it’s important to seek advice from a professional. Some states require roofing licenses, so be sure to find out whether you need one in your state. Depending on the type of work you’ll be doing, you may also need to secure an insurance policy.
In addition to the licensing fees, you must choose the structure of your roofing company. Choose between a Limited Liability Company and a Sole Proprietorship. If you choose the latter, you’ll have greater flexibility in management and taxation. Next, you’ll need to file Articles of Organization with the Secretary of State. This process will give you an Employer Identification Number (EIN), which is similar to a Social Security number.
Finally, hire a professional accountant. Accounting software can help you manage cash flow and offset the seasonal nature of the roofing business. If you’re working with a general contractor, expect a delay of 30 to 90 days in payment, and an effective accounting system will allow you to handle cash flow better. The first few months of business will be tough, but with the right training, your company can be successful for generations.
As far as marketing goes, a well-designed marketing plan is essential for the success of any new roofing company. You’ll need to develop an advertising strategy, which may vary depending on your goals. A website, Facebook pages, digital marketing through Google, door-to-door solicitations, and truck wraps are common forms of advertising for a roofing business. Roofing workers may also post yard signs in the neighborhood as a way of getting their name out there.
In addition to hiring a roofing professional, you’ll need to acquire insurance. Another crucial component of starting a roofing company is establishing a business plan. Without a solid plan, it’s difficult to know what direction to take your company in. If you’re interested in learning about business and marketing, you can consult your local chamber of commerce or small business association. These organizations offer networking and business advising, as well as marketing resources.