Is Roofing the most profitable trade? 7 Pros and Cons of Roofing Biz
HTML-код
- Опубликовано: 8 сен 2024
- Let me help you build your Roofing Business, sign up for my Roofing-school...
For podcast/interview or product review request visit: dmitrylipinski...
Comment below if you think Roofing is the most profitable trade!
Is Roofing - the most profitable construction business?
If you study remodeling, construction businesses, one is standing out among others and arguably makes more millionaires than any other trade.
Let’s talk about roofing and why is that.
I used to be a flooring contractor. I also remodeled and flipped many homes. I put my blood sweat and tears in construction for 15 years and let me tell you: roofing does stand out .
And if you are good at it you will make money.
By no means it’s easy but it’s easier than other trades.
Why do you ask?
1. Large ticket items. Those who complain about their profit margins just haven’t worked in other trades. Even minimum profit margins are better than in remodeling
2. Much easier to please home owners. Roofs are far above.
3. Expectations are lower for the most part: you do t have to be home.
4. You can actually finance the whole operation. ABC, Beacon, SRS will give you 30 day credit. Easy to finish jobs in 30 days.
5. You can subcontract it all. People don’t tend to come to your office and don’t care if you have employees. Not saying it’s right but it can be done.
6. You can finance your growth from your sales. (Robbing Peter to pay Paul)
7. Easy to stand out for creative people.
Cons
1. Expensive advertising
2. Risky when you don’t get paid even on few jobs. It’s all good when it’s all good, but it’s also easy to start falling behind.
3. Lot of bad competition who will underbid you low entry)
4. Huge room for theft. Walmart example.
5. Hidden rocks: insurance audits, accidents, theft, theft by swindle
6. Easy to lose money on huge projects
7. Big overhead. Will destroy you of season (can be very seasons). Too much work is bad. Too little work is bad.
Roofing Insights Podcast available:
Spotify: sptfy.com/roof...
Apple Podcasts: apple.co/3ort4Q5
Soundcloud: / roofinginsightspodcast
For more information about Roofing Insights visit roofinginsight...
For business help and exclusive content check out roofing-school...
Find the best roofing contractors in your area: https:/directorii.com
Roofing contractors from the list are backed by a $20,000 guarantee
Helping Roofers Become Successful Business Owners. Want have a better understanding and learn how to operate a business? If you answered yes to the following question you're in the right place, this is the top roofing channel on RUclips where you can apply everything from product reviews to commonly made mistakes others have made so you don't make them.
===========================
Roofing Insights Amazon Store:
bit.ly/RoofInAS
============================
Let's Connect:
Facebook: bit.ly/RoofInFB
Twitter: bit.ly/RoofInTW
Instagram: bit.ly/RoofInIG
Pinterest: bit.ly/RoofInPIN
Tumblr: bit.ly/RoofInTB
============================
#Roofer
#Roofing
#RoofingInsights
Spot on Dmitry! The cons are rarely discussed when all you hear are success stories. Makes it look so easy. Build your roofing business with your eyes wide open. I always ask what can go wrong because it probably will. I can speak to most all of those from my experience. The lowlights are:
2. Risk. Getting paid. It's usually an afterthought when the focus is on just making the sale. Make the investment to have a well written contract and a retainer for contract review. Understand your lien laws/deadlines. Outsource it! Don't work for general contractors. Not understanding your costs and not charging enough for your work. #1 reason why contractors go out of business and don't realize it until it's too late. A slow painful death.
4. Theft. If you don't have a good system of checks and balances you will get embezzled. Period! Without an inventory system things just seem to walk away. It adds up over time.
5. Hidden rocks. I'm with the government and I'm here to help. Surprise!
6. Huge projects. Getting out of your lane. Too easy to focus on making the home run and dropping your shorts. I like high margin singles and doubles. Staying under the radar. "Volume kills and profit thrills".
I'll add the business killers 4 Ds to your list.
1. Death
2. Divorce
3. Disillusion
4. Disability
I've gone through 3 of them. Death would have been less painful!
Thanks for this honest insight
I do residential remodeling. I have no shop, one van, and two full time guys with their own vehicles. I only grossed $480k last year but took home $180k, and that was unusually low margins for me. The year before I did about $300k and took home half of it. I’m usually right at or under 50% profit.
You don’t need a office!
@@vincentmarro1396 correct, neither do most contractors
how do you get jobs just starting out?
@@bryan.gonzales advertise. Find out what works in your area, and do a lot of it.
@@reggiejenkins6458 I just started doing Facebook ads. Have you seen any results with this?
It’s easy to answer homeowner question about subs by letting them know you will have a company project manager on the job supervising all workmanship.
Very insightful
I love roofing
Great video
Amazing video 📸. Your background screen is also amazing
Great insights! I appreciate the balanced approach.
Customer is always right!
I did mostly everything in remodeling
way far roofing is more profitable maybe tree removal can compete in profitability cause I also did in the past
These jobs are in and out and one day money
I will tell you why these 2 jobs
Cons
You have to be able have jobs line up for your crew otherwise you won't be able to keep your guys and will have to subcontrat( you still make good money if you subcontrac)
And more more same for pros
Just briefly idea for people who does different trades than roofing u can make 4k in one day just imagine if you have 6 days
Thank you
this is great video! well thought and explained! thanks!
If you can do it well windows will make you rich beyond your wildest dreams.
omg i hate those blue tape details with a passion, they will never stop
Painting is by far the most profitable and Lowest risk / barrier to entry
You have lots of liability in painting too. You are inside homes, moving/covering furniture
It absolutely has the lowest risk and barrier to entry, but is definitely NOT the most profitable.
In a free market it’s almost physically impossible for the activity with the lowest entry barrier to be the most profitable. If it did, people would flood in and drive the profits down.
I used to do roofing for 27 years then started to paint and pressure washing after doing roofing it sure feels lot easier and
Money is just about same
I worked in flooring for a solid 3 years, I want to start subcontracting, however Id like to pair it with something else, I dont want to do exclusively flooring. Do you recommend roofing? I was thinking of cabinets
Dmitry, can you share the list of books you recommend. I can see extreme ownership title. What others do you recommend?
We have few good recommendations in our profile on Amazon: type roofing insights in search and you will see our page with lots of recommendations for books and other amazon products.
18:00 was his name Bruce Godfrey? cause he did that in NC
Hi There,
Great video! I have a problem. We currently offer interior kitchen and bathroom remodeling, and tile installation. And exterior roofing (of all types), siding, decking and windows. I worry that we are offering too many services because problems keep happening and it is too much for me to keep up with. I am considering dropping either our interior or exterior services 🤔 any insight would be appreciated.
What’s the going rate for new and tear off in Michigan
Dmitry, I thought it was solar, lol.
Dmitry, love your videos. How long would you recommend working for another roofer before going on your own?
Or what’s your advice for someone who’s never done roofing before, but would like to end up with their own business at some point? I had my own fence and gate contracting business for 2 years, but have since gotten out of that.
it takes 2-3 yrs assuming you have no bad habits and all your focus is work, but little more than that if you aren’t as focused and have bad habits we’re talking maybe 5-10 years
I followed the step and did not receive it...deceiving
WORK COMP SUCKS IN TILL YOU NEED IT
I am starting the process to get my roofing license in early 2023, any suggestions on where to start soon after i am licensed???
what are your go to roofing books and videos?
We have few good recommendations in our profile on Amazon: type roofing insights in search and you will see our page with lots of recommendations for books and other amazon products.
Refrigeration is extremely lucrative in particular Commercial work.
$10 MILLION IN 1 YEAR! 2024 GOAL...
You do not I repeat do not need a office. Overhead is the number one profit killer
I’m interested in the roofing biz.
What is the responsibility of a roofing company, God doesn’t let it happen if a serious injury happens to one of the members of the subs? let's not say dies
Sorry.
So if I’m a Christian and ask you for a position but tell you that i will steal your money!! Then you would trust me???
Sorry I’m not supportive of generalizing at all
What