It is possible for a skilled roofer to think that starting a roofing company is easy since he has all the expertise in the field. However, it is not as easy as that as you need to consider other things like logistics, capital, permits, entrepreneurial skills, as well as insurance for the business. Roofing business is very profitable when done the right way by a skilled person. Here is how to go about starting a roofing business.
Have a Business Plan
You do not need to be a genius or pay a fortune to have a great business plan. All that is needed is to define your goals clearly and the plans you need to put into place in order to make your goals become a reality.
Consider the Start-Up Costs/ Capital
With any business, you will need to make an investment in order to have it up and running smoothly. While you can do without some costs, others are unavoidable and you need to put them into consideration. Some of the costs should be used to come up with a proper business plan for your roofing company.
You will need to invest in the right equipment for your business. The trick is to start slow and let to the equipment pay for itself before investing in more of it. Also, some part of your start-up costs should go into training your staff. Working with untrained staff is a recipe for failure and you do not want that for your roofing business.
Get the Right Permits
There are two types of permits: general business licenses and permits as well as state contracting licenses. The former can be obtained from city hall or your local town. You might be required to have a safety inspection and planning approvals and zoning by your local authorities. This is especially necessary when you plan to start your business anywhere else other than your home.
You will be required to apply and fill out sales permits, tax registration, and your business structure documentation through the state’s website. If you will hire employees, ensure that you complete the employer and taxpayer identification applications via the IRS website.
For state contracting licenses, you will need to visit the business regulation department in your state to obtain them. There are different certification requirements and procedures for every state. Depending on the roofing work you are qualified to undertake, you might be required to apply for multiple licenses.
These licenses are normally renewed after a specific period and for you to renew your license; you might be required to go for continued learning if your business is in certain specialty disciplines.
Every construction has liability which makes insurance a necessity. Every state has its unique insurance requirements for those starting roofing businesses. There are different types of insurances you need to look into in order to ensure your business is protected in case you are faced with a lawsuit or unexpected accidents. For example, there is general liability insurance that normally covers injury and damage to third parties.
General contractors need to get a subcontractor liability insurance which normally covers employees from work-related injuries. If you want to shield your company from legal claims that arise from customers, you will need a professional liability cover. You can also pay for vehicle insurance to cover your company’s vehicles.
If you have skilled labor and all the above in place, you are ready to kick-start your own roofing company, contact https://www.palmbeachcountyroofers.com for more information.