How to Make to make 1 Million dollars in Roofing Business

How to make 1 Million Dollars in Roofing Business: Sales Profit, Debt, Value
If you want to learn more check out roofing-school.com
Want to be a millionaire? Watch as Dmitry breaks down the numbers and explains what 1 Million Dollars mean in the following categories?:
1. Sales
2. Profit
3. Debt
4. Savings
5. Value of your business
How to Make $1 Million in Roofing Business: Sales, Profit, Debt, Value
1. $1M Sales
According to Dmitry, grossing $1 million dollars in a fiscal year is quite attainable. Consider, that you would only need to land two contracts a week, at $10,000 per job to be on pace for $1 million in sales. In the roofing industry, it’s not crazy to think that’s possible. But there is more to being successful than simply grossing $1 million in a year.
2. $1M Profit
Notice the distinction between numbers 1 and 2. Sales and profit. Your sales are not your profit. If we take the $1 million in sales example from the above section, our profit comes out to roughly $70-130,000 per year. That’s because your profit should range from 7-13% on each job, depending on factors such as overhead and your investment into the business. If you’re not netting at least 7-13%, you need to redo your numbers and quote bids that will make you profitable.
3. $1M Debt
As with any type of loan, there is good debt, and bad debt. You obviously want the good debt because that means you have a means to pay that debt off. This typically comes in the form of receivables, or money that you have coming back to you. Be mindful of debt you owe to suppliers. Dmitry knows many contractors who lack the financial understanding it takes to properly assess their debt versus income, and it ends up costing them their business.
4. $1M Savings
Count your pennies. Do this by using rebates, buying in bulk, or anything that can save your company money over the long haul. It’s important to note that sacrificing the quality of your work to save money is not an option. Saving money happens when you have a heady financial team in place that can spot deals and trends. This is not necessarily common sense either. Shop around, check your inventory, and do the little things to find gaps in your budget where maybe you are spending too much.
5. $1M Value
Invest, invest, invest. Make your business fully functional, to the point it can run without you. Whether your goal is to sell your business or pass it down to your children, it’s important to have a system in place that can keep making your business money. This takes time to develop and perfect, but once you reach that point, you’ll be happy with the rewards.
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[@RoofingInsights3.0]

Comment below what you think about this topic. How can we help you to make good money in roofing business?

[@cheyennereynoso4116]

My Dad owns a roofing business and I want to start my own. This is the first “roofing oriented” business advice video I saw on KZbin. I was not disappointed.

[@RoofingInsights3.0]

We have much more in roofing-school.com

[@Zorro746]

I want also to start roofing business Could u please give me some advices

[@sheppardroofingserviceinc.3417]

Awesome segment....A lot of that is my story......Been implementing many of your suggestions and it is really coming together. Discipline is the bottom line

[@victorramirez7343]

Hey Sheppard roofing is their a company Instagram where I can check out your work ?

[@Julioccas]

Great video!

[@mashamalinovskaya8471]

This is a good video for people who are interested in starting their own roofing company so that you can see all of the risks involved. Always better to dip your toes in the water before just jumping right in. Dmitry, can you recommend any video either by yourself or another youtuber that is a introduction to the roofing industry itself, maybe for people who are new and do not know anything about roofing?

[@roofingthatpays]

💥💥 Good points Dmitry! That's why we love #commercialroofing #coatings... lower labor and higher margins!

[@RoofingInsights3.0]

great point. In roofing just like anywhere else riches are in the niches

[@RickCurran1955]

FREE "Google My Business" SEO Profile Evaluation To Get You Ranked On Page 1! email - [e-mail]

[@erikgarcia3778]

This year we hope to do our first million

[@JacobPAus]

How did it go

[@andrey4549]

I found your videos online and learned a lot from you now I opened up my own company Pro home improvement in Lexington and now I’m killing it two years later signed up with Thumtack to thanks for the inspiration I learn a lot from you even though I don’t do roofing

[@RoofingInsights3.0]

Thank you so much for this feedback! Very soon we will have service not for roofers

[@chrismartin4335]

I love your videos man keep up the good work, quick question for you though, that 11% rebate is most likely from Menards, used to be a big buyer from them but I found that there Shingle was not held to the same standards as let’s say SPEC or ABC supply. Keep up the good work thanks for the videos

[@RoofingInsights3.0]

Same shingles. We actually were picking them up from Minneapolis OC plant

[@LuisVazquez-xi2yq]

Can you explain me a little bit more about the rebates? Thanks for your videos

[@tinamcwilliams7029]

You are a smart man

[@RandyHurtado]

Yes! We’re at $1.1M this month. 12 years to get here but our rep and process helped us

[@RoofingInsights3.0]

whats sales process do you have? Congrats on sucess!

[@vimalcurio]

Wow, That's a tremendous success! Can we have a quick 15 min call? Would love to pick your brain :)

[@carlettagoodrich-mann1377]

Craftsmanship trades are the core for creating infrastructures . forward plans for towns cities and districts whether commercial or residents cumulative wealth depends on how construction uses contractors. 2016 -2020 knowing you’re numbers and valuing your customers is essential. SMOOTH craftsmanship for plumbing to lawn care matter.

[@Swampfox42]

Thanks for putting this all out there. I have a friend that’s aging out of the business, he’s been an owner-operator for 40 years. We’ve discussed the possibility of me taking over and buying the business. Not sure how to value it or structure the deal, though. Any recommendations?

[@project_baby7064]

I wanna attend your clases this Saturday what do I need to do to show up?

[@grandroofing1604]

I understand, I had health issues, from 2014-2018. I have been in this business for 30 years. I am a master roofer, in all systems. Like a roofing Encyclopedia. I spent to much time in the past not separating my self from the field. I am also a businessman. I enjoy hearing from you and Eric Reno. I will start by hiring people, starting with a production manager or supervisor. Then a salesman. I have been at 1 million for years. In 2021 we are going to 3,000,000 in 2022 5,000,000. In 2023 it will run itself at 5,000,000.

[@tinamcwilliams7029]

I do all my oun jobs work from sun up to sun down .doing it for years

[@eddiestevens3220]

Easy money roofing just pick your targets carefully and don't have no partners

[@RoofingInsights3.0]

solid advice, partnership rarely work

[@mr.d4295]

What price per square foot do you charge for the base price on an easy Shingle roof in your area please? Here in Vancouver Canada we are lucky to get 3$ per foot on a house/job ...

[@RoofingInsights3.0]

$350/square is national average for walkable re roofing jobs.

[@tinamcwilliams7029]

I want to attend the classes

[@forwardhomeenhancements2622]

By your paper and ice and water by the skid. It might not make sense at first, but it will at the end of the year.

[@tinamcwilliams7029]

I've under estimate before

[@olexandrgurenko3192]

How many roofers you need to make 2 jobs of 10k per week?

[@RoofingInsights3.0]

One part time crew of 5 guys. % men crew should finish roof a day.....

[@Maynardd]

Just one. I do that much a week on my own.

[@TomGunz]

Is there a small business course you can recommend to help things run smoother and more organized?

[@RoofingInsights3.0]

Yes, roofing-school.com

[@TomGunz]

@@RoofingInsights3.0 This is good for Canadian companies as well?

[@RoofingInsights3.0]

Absolutely!!!

[@CloneDanMan]

Hey bud. Some clarification Did you mean the business is 1 million their business are you talking about personal income millionaire? I’m confused if you mean business does 7-14 percent net margin or is that after you paid yourself a salary. 7 seems low if you haven’t paid yourself.

[@RoofingInsights3.0]

7% after you pay yourself. That’s business income, not your income. Owners salary should be treated as business expense and as any employee pay in my opinion

[@MrTop419]

👊

[@tinamcwilliams7029]

What helps me is i make 100,000 a year working 2nd shift making wire and then my buissness is a loud to grow without me spending it's money I build the buissness

[@tinamcwilliams7029]

I'm working way to hard

[@tinamcwilliams7029]

That's a lot of roofs

[@tinamcwilliams7029]

One way that can help is do as many cash jobs as possible

[@dolancyr6328]

How on earth does one do 1M in sales and only make 70-150k a year profit? Where’s all this overhead coming into play? The only way I see this being the case is if you were running a company 1000 miles from your house and weren’t involved day to day

[@forwardhomeenhancements2622]

I can't seem to breach the 500k per year mark. I feel that my biggest issue is finding reliable people.

[@RoofingInsights3.0]

People are hard. But finding them is not always labor problem, sometimes it’s leadership and opportunities we create for them

[@forwardhomeenhancements2622]

@@RoofingInsights3.0 I pay top rate in my area. $300.00 per day.

[@victorramirez7343]

This issue can easily be fixed with some good ole marketing and lead generation in order to find higher paying prospects .

[@vimalcurio]

Are you facing problems with your client acquisition system?

[@forwardhomeenhancements2622]

@@vimalcurio we have no issues getting work. We actually turn it away sometimes. Our biggest issue is finding employees. They show up, and disappear. Last year I thought it was something I was doing. However every contractor and business that I am aware of in my area is having a difficult time finding and retaining help. Help wanted signs are everywhere. Businesses closing cause they can't get help. I pay top rate. Higher than the highest paying companies in the area. Relaxed work environment. I don't understand why I can't get guys. I'm now shifting to using only subs. This is because I have too great of a work load, and can't handle it all myself. It's a real shame in my opinion, because I was trying to build a construction company, not be a contractor. I wanted all the guys on staff. Health benefits, the whole 9. I now know, that's not going to happen. O well.

[@craigbeckerkorb6536]

One million dollars means to me... “I did it!”

[@kylekoverola8654]

Who the phuck trusts this guy?

[@craigbeckerkorb6536]

Kyle Koverola you trust people?

[@kylekoverola8654]

If they are worthy

[@unpopularopinion149]

@@kylekoverola8654 lots of people do because he’s telling the truth.

[@kylekoverola8654]

I've never seen him do a roof. I can read a book and add his accent

[@alfredorodriguez759]

I’m 18 an one million will help me become independent and get my parents out of debt.

[@RoofingInsights3.0]

If you make one million in sales, thats $100-150k in profit. Getting out of debt is good but you have to be disciplined. In this business is possible

[@lostintime8651]

No thanks. I'll stay closer to the ground.

[@RoofingInsights3.0]

what you do for a living? Dont get hit by a car

[@kriskrush3970]

IVE BEEN ROOFING FOR OVER 19 YEARS. HOW DO I FIND A INVESTOR? TO MAKE MY OWN COMPANY GROW!!!!!!!

[@RoofingInsights3.0]

you don't need an investor, you need a mentor!

[@zachary7564]

i can help you

[@kriskrush3970]

@@zachary7564 well plz tell me . I don't mind giving someone a percentage. But not someone taking have my money for doing absolutely nothing. Long story about that

[@zachary7564]

@@kriskrush3970 whats your email?

[@kriskrush3970]

@@zachary7564 [e-mail]

[@kylekoverola8654]

He is not Italian, but his hands talk like he is