Is It Worth Writing An Extensive Business Plan For Your Roofing Startup? Preparing a business plan can be time consuming and many entrepreneurs are tempted to move on without one unless they really need it to demonstrate the viability of the ideas to partners or investors.
Regardless, your roofing business won’t be a huge and complicated business for a few years, so why bother? Well, while I’m not suggesting you spend months writing a 100-page report, it might help to have a 10-20 page document on your PC that can be your company’s blueprint for success. You can make changes as you learn more about the business.
It will be the key document that establishes exactly how your business is run. Done right, you should basically be able to hand this document to someone when you buy your business and they can take over with very little of your time to explain things to them.
Here’s a short business roofing business plan template to give you some ideas on how to put your own together.
Contents page and executive summary
This should be a summary of your entire roofing business plan. If you are presenting the plan to stakeholders, let them know the content. Include a basic summary of your plans for starting a roofing business. Describe the opportunities you see in the market and what you plan to do in order to capture a piece of the pie for yourself.
Roofing business experience
Show yourself or others why you are cut out to get into this business. List details about your education and any relevant experience you have had in the roofing industry or in business in general. Describe your reasons for wanting to start a roofing business.
State your company’s mission or philosophy in a few words or a short sentence. Try to think about what you want to achieve with your business in addition to profits. It must be driven by the desire to provide quality service to people in a way that satisfies them and provides great value to them while at the same time allowing you to achieve your goals. What kind of products and services do you want to offer? How will it differ from all other roofing companies?
Set the goals you have for your business in its early years. Set realistic goals that you know are achievable so you don’t get discouraged if you don’t meet them. Success can be measured by a number of metrics, such as the total number of roofing jobs completed per month, the percentage of leads that convert to new customers, or the productivity of your employees, for example.
List all the products and services your business will offer, and then establish a list of equipment and inventory that you will need to get started. If you need to buy a truck, it will have a minimum upfront cost of around $ 20,000.
The start-up requirements will also include compliance costs. Depending on the state you operate in, you may need a contractor’s license, insurance, a bond, or to comply with a number of other relevant regulations.
Don’t forget that in addition to purchasing all the necessary roofing equipment, you will also need to purchase materials for your first job. Clients will generally pay a large portion of their total bill upon completion of the job, so you will have to pay the bill until you are reimbursed when the bill is paid in full.
Structure, ownership and management
There are four basic options to consider for your business structure and they include sole proprietorship, partnership, corporation, or limited liability corporation (LLC).
Describe how your business will be owned and make a note of the various parties that may have an ownership interest.
Establish a management structure so that there is no confusion among those involved in the business as to who is responsible for managing each part of the business.
Identify your target market by both location and other demographic factors, and describe the type of people or properties that make up your target market. Include the results of any market research you do or local industry statistics you can collect.
Establish a detailed plan for marketing your roofing business. This should include how you plan to receive inquiries, convert them to new accounts, and maintain them for the long term. It should also include branding, pricing, advertising, a sales approach, and other marketing methods.
Write profiles of your top local competitors and try to understand how they run their business. Borrow and adapt your business features that work and look for weaknesses in your business models that you can take advantage of. Find out how you will differentiate your brand from theirs in a way that allows you to stand out in the marketplace.
Include details of the daily operations of the proposed roofing business. Take note of your office location, business management and record-keeping systems, plans for hiring employees, and procedures related to roof installation or repair.
Describe some of the methods you could use to obtain financing for your new business.
Create a spreadsheet that shows anticipated cash flow forecasts during the first few years of business for a variety of scenarios. You can then determine how profitable you think the business will be in several different economic climates.
You will be able to find many free business plan examples online, but it can be more difficult to find a specific roofing business plan sample. There are some business planning software programs that you can buy, but these are usually generic business plans that have been adapted anyway.
Unless you can persuade other roofing business owners to share your plan with you, then you really have to look at templates from other industries and model your roofing business plan on them.