Starting a business is not an easy process. It even becomes more difficult if your business is in the construction industry. This post will take you through some tips on how to successfully start a roofing company.
Create a Business Plan
The first thing you need to do is to create a business plan. A business plan is a roadmap to success. It provides direction, motivates you and reminds you about the main objectives of your business. A good plan should outline every detail of your company. It must contain your mission statement, vision, a statement explaining the business structure, financial summary, proposed marketing strategies, pricing list and any other crucial information. A plan is especially important if you want to apply for a loan or seek financiers.
Obtain Permits and Licenses
You need to seek out business permits and licenses from the relevant authorities. Most permits for roofing companies are issued by the state or county governments. You may be required to produce local zoning, safety, and planning approvals before you are issued with a license. You will also be asked to comply with state tax registration requirements and produce documents that show the business structure. In case you plan to hire roofers, you will need to apply for an employer identification number (EIN) and taxpayer acknowledgment from the IRS.
Get a Contractor License From the State
Roofing companies are usually categorized as general contractors. As a result, they are required to obtain a contracting license from the state where they will be working in. Each state has its own specific requirements, so you need to consult with your state’s department for comprehensive and accurate information about they need.
The safety of your premises, as well as the ability of your employees to observe safety when working, is very important. You want to make sure you have a safe working environment for your employees. This will minimize potential hazards and reduce the number of worker’s compensation claims. The ability of your employees to observe safety will also reduce the number of accidents and damages at the site. You can enroll in a safety training program to gain more insights on the various aspects of safety related to your company. As a roofing company, it may be ideal to enroll in osha 30 training. This is a safety training program designed for those who are in the construction industry.
You must have an insurance policy. There are a lot of things that might happen at the construction site. Your workers may fall and injure themselves or one or two properties may get damaged in the process. In such cases, you may be held financially responsible for such injuries and damages. An insurance policy will help you pay for a personal injury or property damage claims made against your company. Insurance is a must-have in some states before you get a license. It also increases your chances of getting hired. Shop around for insurance companies and make price comparisons just to be sure you are getting a fair deal.