Starting a business is no small accomplishment. You need a clear vision, smart strategies, and effective execution to succeed.
A detailed plan is essential to achieving your goals. It helps you anticipate challenges, test assumptions, and measure performance.
Creating a business plan will help you better understand your market and competitors while identifying potential risks and cost-cutting measures. It will also make it easier for you to get external funding if that’s something you want to do in the future.
After crafting your business plan, you can start putting in roofing proposals for contracts. Some services allow you to do this seamlessly. You even get the best roofing estimating software to produce accurate roofing estimates.
In this article, we have prepared a guide to writing a roofing business plan, including tips on what to cover and why, examples, and a template to get you started.
Let’s dive into the details!
What is a roofing business plan?
A roofing business plan is a comprehensive document that outlines your company’s strategy, including your vision and goals, target customers, revenue model, and SWOT analysis.
It also includes key metrics, such as revenue, profit projections, financial needs, and funding sources. A roofing business plan is essential for any company since it forms the basis for all future decision-making.
Why you should write a roofing business plan
A roofing business plan will help you clarify your objectives, identify target customers, and focus on key metrics.
A business plan gives you a framework for decision-making, which is especially important for companies that are growing quickly. It allows you to stay on track, make adjustments when needed, and minimize the risk of failure.
If you are new to the roofing industry, you may wonder when to write your roofing business plan. The good news is that it doesn’t matter when you decide to write it.
You don’t necessarily have to start writing it as soon as you’ve come up with an idea. You can prepare it after you’ve launched your business, especially if you want to make adjustments or if you’re thinking of getting external funding. Keep in mind a good business plan makes obtaining funding and grants easier.
How to start writing your roofing business plan
Start by defining the problem. What is your company solving, and why is it needed? Your roofing business plan must start with a compelling problem statement that addresses the pain felt by your target customers.
Next, outline your solution. What is your product or service, who is your target customer, and what value do you provide? Once you’ve outlined the problem and solution, you can move on to the following stages, including the marketing strategy, company profile and operations.
In this section, you want to outline your company’s mission, industry, and competitive advantage. You should also include the company’s vision and goals, its target customers, and how it stands out from the competition.
Your mission statement should be no longer than two, three sentences and identify your company’s core values. For example, you can state that your company believes in providing quality roofing services to homeowners by putting their needs first.
Your industry is the broader category that your company falls under, while your core competencies are specific skills that make your company unique. For example, running a roofing company and specializing in installing asphalt shingles. In this case, your core competencies might be speed, accuracy, and affordability.
In this section, you’ll want to outline your marketing strategy and plan for attracting new customers. You can start by defining your target market and SWOT analysis, choosing your go-to-market method, customer acquisition channels, and marketing budget.
Your target market is the people who will most likely purchase your product or service. At the same time, your SWOT analysis is a way of assessing your competitive advantage and potential weaknesses.
Your go-to-market strategy defines how you will sell and distribute your product or service. At the same time, customer acquisition channels are the ways that you will generate leads and attract new customers. Your marketing budget includes all marketing costs, such as salaries, training, marketing tools, and events.
In this section, you want to outline your operational needs, such as the type of machinery, equipment, supply chain, and hiring needs. You should also include your product or service details, target customers, and operational costs.
An excellent operational plan ensures that your company is ready to grow and take on customer demand. Your operational plan should include the following:
- Details on the type of equipment and machinery that you need.
- Hiring needs.
- The variety of supplies and inventory you will need.
Team and skill set
If you’re planning to start a roofing business, you will likely need to hire a team.
In this section, you want to outline your hiring needs, skills that are needed, and compensation plans. A good roofing business plan will outline your hiring needs, required skills for each role, and employee compensation plans.
If you plan on hiring employees, you will also want to include information on the benefits you offer.
This section will outline your expected revenue, expenses, and profit projections over a specific period. You should also include revenue streams and cost-cutting measures.
Your revenue projection should include your revenue source, amount, and expected profit. For example, you are planning on starting a roofing company specializing in installing asphalt shingles.
Your revenue source might be residential roofing services, while your revenue amount is how much you charge per roofing job. Your expected profit per job depends on several factors, including the market price for your services, total cost of the job, profit margin, number of hours needed to complete the job, and hourly rate for your workers.
Your cost-cutting measures can include reducing costs, improving efficiency, and increasing revenue.
An extensive business plan can help you to shape your business
We hope you’ve found this guide to writing a roofing business plan helpful. A business plan not only outlines your strategies but also makes sure that you’re prepared for any challenges that come your way.
That said, don’t feel you have to write your plan in one sitting. If you have a busy schedule, you can split it into smaller chunks and write a little bit every day.