Recent data on economic growth shows that the roofing industry is poised to in the next few years. But to take advantage of that growth, roofing contractors need access to the right tools and strategies. For many, those things can only be found in a roofing franchise business. So what are the benefits of owning a roofing franchise, and which are the best opportunities available now?
What are the advantages of owning a roofing franchise?
Starting any business is a challenge. For , you will find yourself trying to do it all. In fact, the most common model for a startup roofing company would have you working in your business while also advertising your services, keeping accurate financial records, purchasing supplies, and coordinating schedules – along with everything else that needs doing each day. In the past, there were few other options to grow a roofing business, leading to limited growth potential and long years of struggle.
Today, however, entrepreneurs and professionals in the roofing industry have the option to own a roofing franchise business. When of other startups, there are many clear advantages. One of the first things that attract people to a franchise is that most offer a proven business model, support, and training. Rather than build a business through trial-and-error, franchise business owners are given the information and training needed to ensure that their hard work will pay off faster – and lead to more opportunities – than may otherwise be possible. Due to the franchise roadmap provided, no previous experience in roofing or construction is necessary. Additionally, in many states there isn’t a licensing requirement.
But the advantages of owning a roofing franchise don’t end there. While each franchise company is a small business, being part of a franchise offers a range of benefits that most small businesses simply can’t afford. For example, brand power is an extremely valuable asset for any business, since name recognition and a proven track record can help make finding new customers easier. Another critical benefit of owning a franchise is having access to new technologies and systems that can make business ownership more efficient and more profitable. With a streamlined process and the advantages of technology, franchise business owners usually have more time to work on growing their business instead of being stuck working in it. In this way, the growth potential is far greater with a roofing franchise than with other roofing business models
How much does a roofing franchise owner make?
Along with profitability, franchise owner income is another top question for anyone exploring franchise ownership. And just as profits vary for various reasons, the amount that a roofing franchise owner makes also depends on a range of factors. For most new businesses, owner salaries increase as the business grows. But unlike roofing contractors, who often find themselves limited by the number of jobs they can personally handle in a year, roofing franchise business owners may have the ability to grow beyond simply earning a comfortable living.
Just as owning a franchise increases profitability numbers, so, too, does it often support higher earnings for owners. Although earnings vary depending on location, how long a business has been in operation, and the owner’s business savvy and expertise, what it all really comes down to is the fact that a roofing franchise business owner will have the tools and support needed to reach both long-term and short-term financial goals and increased opportunity for profitability.
How much money do I need to start a roofing franchise business?
Starting a offers many benefits, but being a roofing franchise owner may not be for everyone. At a minimum, you will need to have funds and financing on hand to successfully start and grow a roofing franchise business.
For example, according to their 2020 Franchise Disclosure Document, roofing franchisor Storm Guard requires an initial investment of between $185,400 and $219,600. While $65,000 of this is the actual franchise fee, the remaining funds are the amount of working capital you’ll need to get your business open and operational for the first 3 months.
Yet as with all business ventures, it is important to examine not only how much money you’ll need to start your roofing franchise business, but the value of what you will receive in return. From brand reputation and recognition to the quality of training and support, the offerings of each franchise opportunity are unique. For this reason, it is important to crunch the numbers with things like the value of intangible assets, company track record, and company culture in mind.
What are the best roofing franchise opportunities?
Once you decide that a roofing franchise is right for you, the next step is to determine which is the best roofing franchise opportunity to choose. The good news is that, unlike in years past, there are several options to choose from. But not all roofing franchises are created equal, so it is important to first gather as much information as you can. While each opportunity will have its differences, there are a few to ensure that the franchise opportunity you are considering is one that will help you achieve your business ownership goals.
A quality roofing franchisor will be able to offer business owners not only a reputable brand and proven business model, but also high-quality, comprehensive training and ongoing support. The value of quality training and support simply cannot be overstated, nor can lower franchise fees make up for the disservice the lack of training will do roofing franchisees. The same goes for access to technology tools designed to help franchise business owners be more efficient and, ultimately, to maximize the profitability of their roofing business.
Still, one critical aspect that not all roofing franchisors offer is a company culture based on ethical practices, community engagement, and family values. For example, the roofing franchise strives to be the trustworthy, local service providers in each area franchisees serve. Because the company values integrity and quality, is tasked to work hard to improve service levels in their communities – and the roofing industry as a whole. Culture is an intangible asset that nonetheless is an integral part of choosing the franchise opportunity that will best help you build the future you’ve always wanted.
How do you scale a roofing business?
One challenging part of owning a successful business is knowing how to keep growing. Scaling a roofing business can be a particular challenge if you are still working in your business. After all, if you are doing some or all of the work yourself, there’s only so much you can do in a day.
Given this fact, one of the best ways to is to make sure that you are correctly positioned to do so. In other words, you should be spending your time on high-level managerial tasks, not swinging a hammer. If you own a roofing franchise business, managing the current workload of your business may feel all-encompassing. But it’s important to allow yourself the time you will need to expand your business when the time comes.
Beyond making sure that you are working on your business, and not in it, scaling a roofing business can be more easily accomplished by offering your customers something they can’t get anywhere else – a unique value proposition, as it were. For example, Storm Guard roofing franchisees can offer their customers a respected national brand name, local service, quality product line, and a 5-year workmanship warranty. Additionally, one of their core values is giving back and they have a partnership with the National Forest Foundation. The Franchisor plants 5 trees for every roof replacement completed by their franchisees to help offset the environmental impact of common roofing materials. These are things that are not always easy to find in a roofing contractor. What is more, being able to use smart technological tools that are custom-made for your business can help you do more in less time, not to mention more effectively manage your business from anywhere. In this way, you can offer your customers great quality service while keeping a watchful eye on every aspect of your growing business.
Another great way to scale a roofing business is to ask for referral business – and to get involved in your community. The most effective form of advertising for any business is word-of-mouth referrals. Few people like hiring contractors based on an advertisement alone. By being a visible force for good in your service area and providing consistent, high-quality service, roofing franchise business owners can more effectively spread the word and reap the benefits of community referrals – all while providing value to neighbors and community members.
Once you have all the customers you can handle, it may be time to secure additional financing and expand into a new service area. When you own a roofing franchise business, this process is facilitated by franchisor support. While it may be hard to get the financing you need to expand your business on your own, leveraging your connection to a respected national brand can make growing your business not just a possibility, but a certainty.
For those ready to set the new standard in residential and commercial roofing services, it is hard to beat the advantages of roofing franchise opportunities. With so many benefits, today’s top roofing franchise brands are focused on leading the way into a profitable and service-oriented new future for roofing business owners across the nation.