Business Ideas | Small Business Ideas: Roof Maintenance Repair and Coating Service

Thursday, March 19, 2015

Roof Maintenance Repair and Coating Service - Business Ideas

Roof contractor businesses perform maintenance, coating, installation and repair services to clients in the consumer, business, nonprofit and government sectors. Virtually every building used for commercial or residential purposes needs a roof, which needs repair services at some time, making this a vast and growing market all around the world. Starting a roof maintenance, repair and coating business can turn your roofing skills and experience into an opportunity to achieve financial independence for you and your family. Knowing how to start a roofing contractor company is the first step in entering this industry.

Roof Maintenance Repair and Coating Service Instruction:

Step 1

Make a list of the tools and equipment you will need to perform your services, and calculate the total cost of all necessary supplies. In addition to basic equipment such as ladders, hammers and shingles, do not forget to include the cost of any trucks, vans or other vehicles you will need to haul your equipment to job sites. Factor in the cost of consumables such as roofing nails, caulk and roof coating solution, as well.

Step 2

Obtain any start-up funding you need to cover the costs calculated above. If you do not have the cash on hand to purchase all of your materials, consider saving your personal income for a bit longer before going into business. If you do not wish to wait, consider asking for a personal loan from a friend or family member to help get you on your feet. If that is not an option, look to a local bank or credit union to obtain a small business loan or credit card with a large enough limit to get you started. Try to buy used vehicles without relying on dealer financing if at all possible to reduce your total startup expenses, but avoid skimping on costs when shopping for tools and materials.

Step 3

Register your business in your state. Consider organizing your business as a sole proprietorship or partnership to simplify the registration process. Roofing contractors' business models generally do not expose them to the types of financial risk that would merit forming the business as an LLC or private corporation. Insurance can cover almost all potential liability you might incur while performing your services.

Step 4

Obtain a roofing contractor license if it is required in your state, or a general contractor license if not. Contact the Secretary of State's office in your state to find out if there are specific licensing requirements for roofers, and if so, which state agency handles licensing. Contractor's licenses require you to fill out a simple form to prove your education and experience, and to submit a small filing fee.

Step 5

Obtain workers' compensation insurance and general liability insurance to protect your business from potential financial pitfalls. Workers' compensation insurance is required for all employers, and liability insurance can protect you from financial loss due to accidental damage to client property.

Step 6

Market your new business in your area. Use newspaper, phone-book and online advertisements to attract residential customers, and participate in local business coupon publications to bring in value-conscious customers. Rely on direct sales over the phone or in person to prospect for business customers and nonprofit organizations. Make sure you speak with someone in each organization with the desire, authority and funds to make a purchase decision to avoid wasting time on sales. Contact local government agencies and ask for information on their private contractor job bidding processes to develop a governmental customer base.

References

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Easy Tips and Ideas to Start Business

Although anyone can start a business, many people fail because of a bad product or improper research. If you want to start your own business, you can improve your chances for success before you even begin. In order to make your business successful, start strong and make sure that your idea will hold out for the long haul.

Have a Good Product

Ensure that you plan to sell something useful. Although you may think that your product is important or special, that doesn't mean the general public will agree. Ask friends, family and strangers what they think of your product. If they don't seem that interested, ask them why. With their suggestions, you can either improve the product or scrap the idea completely. According to Brad Sugars of Entrepreneur magazine, most small businesses fail because they sold a product that didn't have an adequate market. This also applies to small businesses that provide a service. A lawn-care business might be useful for part of the year in a northern state, but it is in-demand year-round in the south. Consider whether people will actually want to use your service and get constructive advice from those not afraid to give their opinion.

Research Local Businesses

Research local companies before starting up your own business. This will not only give you an idea of the amount of competition you will have, but it will also help you price your product or service. If you're looking to start a wedding photography business, you may find during your research that the market is over-saturated in your area. If not over-saturated, you should contact each business and ask them for a price list. Alter your prices so you can stay competitive with the competition in town. Researching similar local businesses will also help you decide where to locate your business location. Try not to start up a store or office close to another business of your type. If your small business is located away from similar business types, this will cause locals to choose you over businesses that are farther away from where they live.

Get Professional Advice

You may know someone who has started their own successful business. Ask him for advice and listen to his stories of how he started his company. You may gain useful advice on the good and bad ways to start a business. Local entrepreneurs can also introduce you to local product providers or advertisers that you may not have met without their help. Accept any advice with open arms, especially if the advice is coming from someone successful in the area.

How to Calculate Business Start Up Costs

Starting a business in no easy endeavor. It takes a great deal of research, perseverance and hard work. While sweat equity will make your small business more successful, you will most likely need real capital to get the business started. Before you start raising capital and/or investing your own funds, the first thing you need to do is determine the total start-up costs.

Step 1

Determine your costs of sales. For most small businesses this means inventory, the cost of raw materials, manufacturing equipment, shipping, packaging, and warehousing. However, not all businesses sell products. In this case, the cost of sales is primarily the direct labor involved in making the sale. For example, to open a small shoe business entails purchasing enough inventory ($10,000) to stock the store.

Step 2

Determine professional fees. Planning your business structure, i.e., limited liability corporation or general partnership, means hiring an attorney. There may also be the need to pay an attorney for help with establishing trademarks, copyrights, and patents. In this scenario, that puts total professional fees at an estimated $20,000.

Step 3

Determine technology costs. Technology can greatly reduce the cost of labor for small business if used effectively. Most small businesses require computers, printers, cell phones, website development, Internet access, software applications, information security, data storage, and outsourced information technology (IT) consulting. If the cost of technology is $10,000 to start, add an additional $5,000 a year for maintenance (hint: maintenance is not included in start-up costs).

Step 4

Determine administrative costs. This varies with business types and may include items such as business insurance, office supplies, product packaging, parking, rent, express shipping, desks, chairs, fax machines, phones, or anything else necessary to operate the business daily. A good estimate for start-up administrative costs would be $5,000 for the first six months.

Step 5

Determine initial sales and marketing costs. Now that you have your product, you need to let folks know about it. Sales and marketing costs generally include marketing materials for presentations, printing stationery, business cards, advertising, trade show events, and public relations. These initial sales and marketing costs can add up to $3,000.

Step 6

Determine the wages and benefits needed to secure a staff. This includes employee salaries, benefits, workers compensation, and payroll taxes. Let's put the cost of wages and benefits estimated at $20,000 for the first three months of business.

Step 7

Add all costs associated with starting the business for a total. Be sure to only include business start-up costs that will be incurred in the first three to six months of operations. For this example, the calculation is: $10,000 + $20,000 + $10,000 + $5,000 + $3,000 + $20,000 = $68,000.

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