The roofing business provides a high level of job security for those in it. After all, a roof is a basic need for every home, and even built homes need roofing maintenance time-to-time. Even though starting a roofing business can be challenging, you’ll have a higher chance of success if you have a good roofing company business plan to run everything efficiently.
In fact, if you’re thinking of starting a roofing business, you need to have a business plan. But how do you write a business plan that helps you grow your roofing business into a profitable venture?
This article answers that very question. We’ll look at some industry templates that can help you streamline your plan. We’ll also take a closer look at what a business plan is, why you need one for your business, and how Roofr can help you manage your business better.
A business plan helps you draw a complete picture of your roofing business and its growth for the upcoming years. From a more technical viewpoint, it's a roadmap of your roofing business' journey, from when you create it to a particular growth point in the future (typically in three to five years).
A business plan is an avenue for you to pull in more capital for your roofing business, as it entices investors with your vision for the company.
It contains information on how your business will succeed, break-even, and bring even more profit to investors. It’s unlikely that investors will dish out funds if you don't have a convincing business plan.
Additionally, a business plan cements your vision for the company. Many contract roofers have ideas for their own company, but until you can pen them down, it's not ready to come to life.
The reason: a business plan contains every aspect of a living company, complete with go-to-market processes, expected ROIs, and financing ideas. It also takes into consideration whether you’ll make use of technologies like Roofr to streamline your processes and optimize your business.
But you may be wondering, how do you write a business plan?
By making an effective and realistic plan, you can achieve your desired business values. A realistic plan should be measurable and time relevant, and could be related to a specific business strategy, annual revenue, or other attainable goals. A realistic plan means making simple and practical plans that can lead to growth and profit in your roofing business.
The purpose of a company can motivate a team and unite them to achieve a common goal. Your purpose can center around, for example, being highly profitable and seeing the healthy growth of your roofing business.
However, that success depends on a number of factors. For instance, it can depend on your ability to create a healthy environment for your team for consistent business growth. You can list ways to tackle these concerns in your business plan.
Your company values can be industry-specific, but should also target customer loyalty while ensuring employee satisfaction. By acknowledging these values and additional ones, you can achieve both short-term and long-term business goals.
Make a list of yearly initiatives and goals to keep an eye on the growth of your business. These initiatives can become milestones for growing your company.
By taking note of goals and initiatives, you can follow your business’ progress rate and take notice of barriers to growth and improvement.
Here’s the format to follow when creating roofing business plans:
As you know, every new business requires a substantial financial backing to work. The same goes for a roofing business.
However, the amount of funds you’ll need depends on the business size you want, labor availability, budgeting for tools and machines, and if you want to save on costs by using roofing platforms like Roofr. Sadly, there’s no exact figure for starting a roofing business, but you may be able to ask around the industry to gauge what a reasonable budget would be.
For many new roofing companies, the source of operational finances is personal savings. Obviously, that doesn’t always work. After all, the more your business grows, the more you’ll spend on your operations.
If you don't have much personal savings, there are numerous financing avenues to turn to. For example, bank loans, credit cards, and angel investors.
Bank loans and personal savings are the most efficient ways to fund your roofing business, since the other funding methods are not as reliable and effective.
Another important part of putting your business plan together involves resources like tools and equipment.
A few pieces of equipment you’re going to need include:
But there's an endless list of materials that you'll need for your roofing business. For instance, you'll also need bits of fire sheets, cement, bricks, and so on.
These materials can reduce cash outflow and increase costs for your business, though ultimately, expenses depend on the quality of your materials and resources.
Writing a roofing business plan doesn’t have to be complicated. These tips and the skeleton template provided should help you develop the best business plan for your roofing company.
Whether it’s business plans or proposals, operating a business can be a lot of work, which is why making use of technological solutions can lessen the burden.
Roofr is an all-in-one sales platform for roofers wanting to grow their businesses, stay ahead of the competition, and streamline their sales process.
Use our platform to measure accurately, create estimates and quotes in minutes, and create job-winning proposals. Register for Roofr today to supercharge the growth of your business!
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