No matter what kind of business you’re starting, you’ll need a solid game plan to ensure that your business doesn’t fail before it takes off. It’s also wise to go into services that people need.
Professional roofing and guttering are services are always necessary in the market. When it comes to starting a business, roofing and guttering is not so different. But, some details will require additional research and attention. That said, achieving a stable starting point is your first goal.
Now, we’ve laid down a foolproof list of tips for a dependable business venture:
1) Business plan
Just like any new company, drawing up a business plan is crucial. Research and meticulous preparation will help you check all your bases. Most importantly, you can avoid any surprises that might catch you off guard.
2) Startup and ongoing expenses
There are all sorts of equipment and materials needed to start a roofing and guttering business. Setting up your office and setting a storage area at home will do while you’re beginning. However, you’ll later require a bigger location for your business. You’ll also require the following:
- Vehicle that can handle transport of materials
- Roofing equipment and materials
- Labor costs
- Insurance, liability, and workers’ compensation
- Utility bills
- Internet connection
3) Equipment and materials
Roofing and guttering equipment and materials need to be acquired before you can start your business. You’ll need to find suppliers that can offer you several options of high quality that can represent your business perfectly.
Roofing and guttering typically have off-seasons during winter or other colder climates. When this happens, it’s vital to save profit from busy seasons to pay the expenses for the off-season.
Most roofing companies provide roof and gutter assessments for free. This is a way for them to get a customer’s trust if they decide to get future services. But, some companies can charge up to GBP 72 for a thorough inspection.
- Replacements: GBP 4,000 – 10,000 depending on the materials, size, design, and other factors
- Repairs: Depends on the damage and materials.
- Other costs: Insurance, taxes, advertising, vehicle maintenance, dumpster fees, and petrol.
6) Target demographic
The best customers you can have would be those with multiple properties. When it comes to convenience, properties with flat roofs are easier projects. But, your most important consideration is to build a trusting relationship with your customers to make sure that they hire you again and recommend you to others.
Roofing isn’t a one-person job; you’ll need, at least, two roofing contractors to work on a single site. If you have more projects, you’ll need to hire more workers to go to various working sites. When hiring, employ only qualified professionals who have some experience with roofing and guttering.
8) Brand name
Brainstorm on your brand name. Make sure that it’s catchy and memorable. For a sole proprietorship business, you can’t use your name. Make sure to research on the brand name you have in mind to see if other companies already use it, if it’s trademarked, and available as a web domain.
9) Legality and Taxes
There are various business structures. But, the most common ones are:
- Limited liability company (LLC)
- Sole proprietorship
Most businesses prefer the corporation or LLC as it can keep you personally liable if your business is sued.
Signing up for taxes is an important step, and you can’t open your business without it. Taxes will depend on the business structure and the area.
10) Business bank account and credit card
A separate bank account will make management easier, and it will help protect your personal assets. Plus, establishing your business credit will make financing your business easier.
Accounting is essential to manage expenses and study how well your business is doing financially. It also makes filing taxes more manageable.
12) Licenses and permits
Protect your business by securing permits and licenses. Local business licenses will have different requirements, which you should research on to see which ones are applicable to you. You can also hire a lawyer to help you out with other legal requirements such as service agreements. Moreover, if you plan to open up a store, you’ll also need a Certificate of Occupancy.
13) Business insurance
Businesses are significant investments, so you’ll need to get them insured to protect them from financial losses. Start with General Liability Insurance and the Workers’ Compensation Insurance.
Brand building can help your brand reach more people and make it more catchy. You’ll be competing against other businesses, so using branding is your secret weapon to get customers to notice you. Start with your logo and marketing.
Promotion can come in various forms, such as newspaper ads, TV and radio commercials, and even ads on the Internet which is now the most popular method.
Overall, starting a roofing and guttering business requires a thorough business plan, legal steps, and marketing. But, what makes roofing and guttering different is how well the projects are executed, the quality of materials, and how smart you are with managing finances to fund the business.