A friend and myself are looking at starting a roofing business. We have a combined expierence of over five years and would like to know what it would take to start up a company and if there's a decent profit to be made.
Any advice would be much appreciated !
Do not try this at home.
Profit comes with time. You will need start up cash. Many jobs will require you to pay for all materials. Make sure you know what you're doing. Combined 5 years is not a long time, you need to know everything there is to know about roofing as well as the business side of things like quoting the job properly, how and when you need a tax number and many other things. You will need insurance.
I've been working for over 15 years in the renovation field and I am just now opening my own business. The best advise I can give is learn the ins and outs of the business side and the working side, don't rush into it thinking you'll get rich quick it takes time to build a name for yourself.
Sure you can, but do the research. Before you start (other than tyhe odd small job) do yourselves a favour and get the tools & extras you need. Of course hammers, air nailer, compressor, knives, but also harnesses, proper rated ladders, ladder jacks, scaffold, etc. Also consider a truck and trailer or something similar. Once you begin, work can follow.
Word of mouth is best but signs and advertising work. I wouldn't go BIG on the advertising front at this time because seeing your name in print doesn't mean work, it just means you are advertising along with all the other advertisers.
Be aware of the seasons. Main time is from about April to October.
Also consider roof pitch and how comfortable you are with the pitch and height. To make money, I'd suggest go with a reasonable rate to start and once you have some work lined up you can increase your rates (fairly) tobe competitive and profitable. If I purchase the material for the client, I change an extra 10 - 15% of the material costs.
Hope this helps.
Just think about it before you go for it. Also, can you work well with your partner or will the new business ruin a friendship?
Best of luck.
Congrats on your decision to start up a business. As with every business you are looking at start up costs. This first step will make or break how successful your business can or will become.
Do your homework, insurance costs, liability and wsib if needed. Equipment, trucks, ladders, safety gear etc. Hand tools, gas,vehicle upkeep etc. Everything you use now, double it!
Talk to your suppliers, is there a delivery charge, a rooftop charge. Can you purchase material on credit?
Get quotes from other contractors in your area, compare them to your costs and see if it feasible to start your own company.
Good Luck With Your New Venture!
Search the TrustedPros directory and discover the best contractors in your area.Find your home service pro