» Looking to purchase Roofing Company

Post new topic Reply to topic               Roofing Business Talk
Author Message
  Post subject: Looking to purchase Roofing Company
PostPosted: Sat Jan 05, 2013 9:10 pm 
Offline

Joined: Sun Mar 07, 2010 11:03 pm
Posts: 2
Post liked: 0 time
Liked posts: 0 time
I live in the Portland OR market and I've been in the industry for 20 years now. I started in highschool as a laborer for a local company and worked my way up to manager/salesman. After 9 years with this company I went to work for a local roofing distributor as an inside salesman. I worked my way up in this company and eventually became the branch manager. I currently work for one of the largest roofing companies in this market and I run the new construction and commercial departments.
I tried starting my own business 3 years ago but ran out of leads very quickly. I would like to get back into owning my own company but I think it will be easier to by an existing company. I would even be willing to partner up with someone that might be looking to open a new branch in this market.
I have a great deal of experience in the roofing industry and I love what I do. I pride myself in teaching customers all about our industry. PM me if you have any questions or suggestions. Thanks


Top
 Profile  
 
  Post subject: Re: Looking to purchase Roofing Company
PostPosted: Sat Jan 05, 2013 10:53 pm 
Offline
User avatar

Joined: Fri May 14, 2010 2:33 pm
Posts: 2024
Images: 20
Location: 417-573-636-314
Post liked: 334 times
Liked posts: 366 times
ewarner77 wrote:
I live in the Portland OR market and I've been in the industry for 20 years now. I started in highschool as a laborer for a local company and worked my way up to manager/salesman. After 9 years with this company I went to work for a local roofing distributor as an inside salesman. I worked my way up in this company and eventually became the branch manager. I currently work for one of the largest roofing companies in this market and I run the new construction and commercial departments.
I tried starting my own business 3 years ago but ran out of leads very quickly. I would like to get back into owning my own company but I think it will be easier to by an existing company. I would even be willing to partner up with someone that might be looking to open a new branch in this market.
I have a great deal of experience in the roofing industry and I love what I do. I pride myself in teaching customers all about our industry. PM me if you have any questions or suggestions. Thanks


IMHO partnerships rarely work in our industry.Unless its your spouse.

_________________
The only limits in life are those you put on yourself."Go Big Or Go Home"



A user likes this :
roofcheck (Sun Jan 06, 2013 2:15 am)
Top
 Profile Personal album  
 
  Post subject: Re: Looking to purchase Roofing Company
PostPosted: Tue Jan 08, 2013 9:47 am 
Offline

Joined: Tue Jan 08, 2013 9:35 am
Posts: 8
Post liked: 0 time
Liked posts: 0 time
Hi, I have a roofing company and would like to talk to you. I am in Dallas, TX. Could you please call me or text me 469-995-9909. Roofing Giant


Top
 Profile  
 
  Post subject: Re: Looking to purchase Roofing Company
PostPosted: Tue Jan 08, 2013 10:27 pm 
Offline

Joined: Thu Jul 23, 2009 4:13 am
Posts: 2304
Images: 14
Post liked: 273 times
Liked posts: 574 times
I'm thinking there would be few poorer investments than purchasing an existing roofing company. Why? It is a business that doesn't refresh itself except for every 15 to 25 years. Do a roof today, unless you're in a hail zone, you're not likely to see that roof replaced for a long time. However, when you purchase that company, the installed base of Customers and warranty obligations come along with the purchase.

Okay, admittedly, there is something to say for having an established A rating with the local BBB, perhaps a great Angie's List record and reputation and you're "established" and "proven". But what is that really worth? If it was a good, relatively large market and the company being purchased was one of the 2 or 3 most recognized name brands in that market, I might consider paying $50K for that alone. However, once again, if it is one of those 2 or 3, then it would mean their volume of work per year is relatively high. You could be inheriting warranty obligations for 500 to 5,000 roofs (or more).

You spoke about leads. IMHO, if you're thinking you're going to have a successful company by sitting back and calling on leads, save yourself some money and continue working for someone else. You create leads yourself. You do that by canvassing/door knocking, social networking, door hangers, advertising, etc.. Unless you're in a really small market, perhaps a rural area, I'm thinking there's way too many competitors out there hustling business for anyone to expect their business can be sustained and grown by sitting around waiting for leads.

I'm not really into partners myself. Good way to ruin a friendship and go bankrupt I think. If I'm reading it right, I'm guessing you're looking for a partner that would front most of the money and then you'd do your part with sweat equity. Turn that around for a minute and image you're the guy with $250K to $500K to invest in a business. Are you going to dump that in and give another guy you may barely know a 50/50 deal to just "run it" for you? Let's say that guy already failed a business when he ran out of leads in 3 weeks.

I'm not trying to be harsh or negative, you asked the question, I'm doing my best to give you a realistic answer. Save a fair amount of money and if you're still inclined, start your own business from scratch. Do that after you've prepared a detailed business plan including sales and financial projections. Share that with at least successful, experienced business people you know and ask for the feedback. If the feedback is positive, then consider doing it. Just to help a bit, the most important thing of all is financial. The vast majority of businesses fail in the first 2 years because of cash flow. Do a personal budget and determine how much money you need for you and your family to live a year. Okay, you need that amount in your checking/savings account. You probably need $25K to $100K, depending upon what type of roofing business you're going to open, on top of that. Perhaps more. If you understand the insurance side of things and are in a decent market for that, you could do it on the low side if you sub everything out.

Good luck to you, I hope you're successful in your endeavors.


Top
 Profile Personal album  
 
  Post subject: Re: Looking to purchase Roofing Company
PostPosted: Tue Jan 08, 2013 11:42 pm 
Offline

Joined: Sun Mar 07, 2010 11:03 pm
Posts: 2
Post liked: 0 time
Liked posts: 0 time
I completely understand what you are saying and agree with a few of your points. I busted my ass for 6 months chasing leads, knocking on doors, talking to people, social media, web sites and even rode my bike around neighborhoods hanging door knockers. I'm sure this is true in every market, customers want to do business with established companies. I know how to run a company. The roofing distributor that I managed did 12 million in sales my last year there. I know everything from purchasing to HR to operations. I even became a trainer for new acquisitions.

As for lead generation, the company that I currently work for acquires most of their leads from referrals, Angie's list and the Internet. This is why I feel it would be easier to either expand a company into this market or purchase a company already in this market.
I know that most people would say don't leave a good thing but I'm topped out where I am with no where to grow. I doubled our sales in the last year on new construction and launched our company into the commercial field. I have proven myself time and time again and for once I would like to see the benefits of my labor.


Top
 Profile  
 
  Post subject: Re: Looking to purchase Roofing Company
PostPosted: Fri Jan 18, 2013 8:32 pm 
Offline

Joined: Fri Jan 18, 2013 8:03 pm
Posts: 13
Post liked: 0 time
Liked posts: 1 time
Interested in purchasing a online roofing wholesaler?

$700K plus in Sales - Min hours of work.


Top
 Profile  
 
  Post subject: Re: Looking to purchase Roofing Company
PostPosted: Sat Jan 19, 2013 1:57 am 
Offline

Joined: Thu Oct 04, 2012 4:05 pm
Posts: 45
Post liked: 3 times
Liked posts: 1 time
Were you hitting areas that had already been canvased ?? What was your sales pitch ?? Were you working a hail storm or just pulling into any street and knocking ??


Top
 Profile  
 
  Post subject: Re: Looking to purchase Roofing Company
PostPosted: Sat Jan 19, 2013 2:22 am 
Offline

Joined: Fri Jan 18, 2013 8:03 pm
Posts: 13
Post liked: 0 time
Liked posts: 1 time
Mostly trade shows (NRCA) in Vegas and Orlando.
These roofers have 15 + crews and want to buy in bulk.
I ship all direct and for free. They save thousands.


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 8 posts ] 


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Jump to:  


Disclaimer

The information and advice provided by the community are for informational purposes only. The site owner and users assume no liability for any errors or misunderstanding in the content, or for any actions taken in reliance thereon. Before making any decisions or taking any action, it is recommended that you consult with a local roofing professional or building official. Roofing can be hazardous. Make sure you protect yourself by using all the appropriate safety procedures.