Cut hidden costs to boost your roofing profits
Roofing materials and labour are the major costs that affect how much a roofing contractor makes on a project. But there are a lot of other costs that quietly eat into your profits. Things like office rent, fleet repairs, safety training and equipment, insurance, and marketing costs impact how much you make on every job.
Here are five ways to cut hidden overhead costs and boost your roofing profits.
What the heck … bring on the tech!
- There are plenty of software solutions specifically designed for the roofing and construction industry that can help you save time and money.
- Use inventory management and accounting software to control supply costs, track inventory levels, orders, deliveries, and sales, and manage payroll and invoicing. Check out: roofr, Xero, and QuickBooks Online Advanced.
- CRM and project management software, such as Acculynx, and Jobber, help you engage with customers, streamline projects, and manage all aspects of your roofing business.
- Ask your Gibson representative to recommend the best software solutions for your business.
Don’t overpay for insurance
- Shop around every year for the best insurance rates.
- Look to get lower rates by bundling policies for vehicles, liability, and workers’ compensation.
Regularly maintain vehicles and equipment
- Control your costs by keeping your roofing tools and vehicles in top shape.
- Replace old or outdated equipment rather than racking up ongoing maintenance costs.
- Check out hybrid or all-electric vehicles as an option for your fleet.
- Consider leasing your company vehicle to take advantage of write-offs and the option to upgrade to a new vehicle at the end of your lease.
Focus on safety for increased savings
- Check if your insurance company offers rate reductions for company safety programs or crews with recent safety certifications.
- Ensure your crew’s safety training is up to date. It helps reduce the risk of accidents … and can get you discounts on insurance premiums.
Watch your advertising spend
- Advertising is necessary to generate new leads. Just make sure the dollars you spend are in the right place to reach potential customers.
- Track your marketing, focus on areas that generate a good return for your buck, and measure the results closely.
Looking for other ways to control overhead for your roofing company? Check out this article on how to be more efficient on the job and stay on budget: Simple strategies for roofing project management.
Feel free to reach out to your Gibson Representative for other ways to keep your costs down and your profits up.
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