Does your roof replacement company use a roadmap for success? Whether you're just starting a roofing business or working to boost an established one, use these 7 tips to set up your roofing company business plan so you can build a more profitable company.
Starting a roofing business plan isn’t busy work; it’s the foundation for creating a successful company that takes care of you, your family, and your employees. Think of it as a get-it-done guide. Business plans can even help you obtain funding for equipment investments or expansion. (Find more details in Why a Business Plan Should Be on Your Roofing Biz To-Do List.)
1. Create a vision.
A formal business plan doesn’t necessarily need to start with a vision, but, in reality, it can be hard to build a company when you’re not quite sure where you’re going or what you as an owner want. Invest time in writing down a vision for your roofing business, a vision that includes a short set of values that define it. At Equipter, those values are Quality, Innovation, Relationships, and Faith.
2. Be realistic.
It’s important to have a vision, but it’s also essential to have a realistic view of time, money, and other resources. For example, always assume business projects, such as an office expansion, will take at least 10-15% longer than expected.
3. Be specific.
Simply writing “have a fantastic sales year” into a roofing company business plan won’t do a thing to help you achieve that goal. Get rid of vague descriptions and substitute them with specific, measurable goals, such as “increase sales in the Lancaster service area by 20%,” or “finish two additional jobs every week by August.”
4. Do your homework.
Effective business plans are rooted in research. For example, you need to identify and understand your ideal roofing customer profile. You’ll also need to know your competition and their strengths and weaknesses. Going through the competitive analysis process may also help you pinpoint the productivity and marketing tactics that work—and those that don’t. Use the research to hone a business strategy that helps you differentiate your roofing company from other roofers in the area.
5. Tailor the plan, as needed.
Many roofing businesses use a plan as a guiding strategy, but you may also need to present a business plan to obtain funding or, if you want to sell or merge the company, to potential buyers or partners. In these cases, it’s particularly important to map out prior and current finances as well as financial projections or funding requirements.
6. Ask for a second opinion.
A second, or even third, point of view can find holes or gaps you may have missed while writing a business plan for your roofing company. Enlist a colleague or an entrepreneur friend to review the plan and make suggestions. If you don’t know anyone able to help, contact your local SCORE office, chamber of commerce, or networking group for a recommendation.
7. Put your plan into action.
All the time and research you invest in a business plan for your roofing company will be wasted if it collects dust. It’s likely impossible to tackle everything on the plan at once without losing your sanity, so begin with a priority list. Five Steps to Turn Your Business Plan into Your Action Plan shares a no-fuss way to get the plan in gear.
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