Roof Maintenance & Restoration in Malaysia Can Totally Spin Your Revenues a Notch Higher
Do you consider yourself of being your own boss and get a consistent flow of work? Then, the business for you is roof maintenance & restoration in Malaysia. Besides making plenty of cash, launching a roof maintenance business builds your relationship with property owners. Again, if you’re the kind of person that embraces the opportunity of working up high in the air on angular surfaces, this venture is right up your alley. Now, roofing business involves the overseeing of a team of staffs who execute the majority of the manual labour. On the other hand, the business requires searching for high-quality, low-cost roofing materials and ensuring a constant supply of these materials to meet your client’s demands. Furthermore, you’ll assign workers to particular projects to ensure each client’s roofing project is accomplished in a meticulous and timely manner.
With that in mind, let’s look at what it takes to launch a business in roof maintenance & restoration in Malaysia.
Registering Your Business
Getting and succeeding in any form of business requires a legitimate business structure. And roof maintenance & restoration is no exception. In Malaysia, the Companies Commission of Malaysia (SSM) is responsible with the registration of businesses, which is either through their online platform SSN e-Lodgement or their offices. You will need to meet the relevant and additional requirements involving your roofing business, for example, business and workers insurance to cover all the liabilities or business permit. After your business is legally registered, open a corporate bank account under the company’s name to get started.
Consider the Capital/Startup Costs of Your Business
Launching any form of business requires a financial investment. The initial capital will depend on your business model—whether you’re hiring subcontractors or employees. Nevertheless, you can begin with minimal overheads and sail through the growth life cycle progressively. Therefore, you must permit your equipment to pay for itself before going off to purchase more. Again, when it comes to the recruitment process, ensure that you get the right staff for the job. Stick to what your business needs and leave out the irrelevant. Well, one of the common mistakes is indulging on marketing and advertising when you’re still in the infancy stage. Here’s the thing. The moment you begin to get plenty of referrals is when you can get into serious marketing of your business.
Set a Contractor Liability Insurance
When it comes to the roofing business, the risk may be quite high. The moment you begin to grow your business, the costs and liability will escalate exponentially. In fact, by venturing into this business, you’re accepting all the risks affiliated with it. And for that reason, you must ensure you have contractor liability insurance. The contractor insurance should cover any injuries to you, your workforce (worker compensation insurance), or any accidental damages to property you’re working at. Professional Liability insurance will protect your business from legal claims from your clients on your services and recommendations.
For the record, setting up insurance in place should the first thing you should consider. Therefore, you should seek advice from insurance agents who understands the law governing construction before plunging into roof maintenance & restoration in Malaysia.
Establish Your Pricing
The essence of doing business is making a profit. And so, you now need to add a mark-up for profit after you’ve established your total costs. But how then do you price your charges and reaping the benefits from your services? Incidentally, comparing what the local competitors are charging is one way. Some may charge higher or lower, but the point is to sell at the price where you’ll turn a profit. If you don’t have the expertise in financial costing matters, seek help from a seasoned accountant or consultant firms that know more about the business.
Set Up an Office Premise
One way of looking professional in your business is having an office premise. For starters, you don’t need a complete office but a desk, a phone, and some basic stationery to get rolling. Roof maintenance & restoration in Malaysia is gaining recognition, and it’s important to define your brand to your potential client. Therefore, having an office premise would mean that clients can access your services with ease through a physical location address. Ensure that you register for a business address with the relevant authority. On the other hand, it is important to establish a web presence—and this can only be possible by having a business website. This permits your customers to learn more about your services, rates, and where to locate your business.
Gather Together Your Equipment
The kind of equipment you’ll need for your business will depend on the type of roofing you offer. Perhaps you may consider residential roofing as it is cheaper and easier to start compared to commercial roofing. More certainly, equipment will account for the majority portion of your startup cost. And, therefore, purchase tools based on the job requirement and never spend beyond your intended costs. You don’t have to get a new truck when an old one can do the job. Remember; when it comes to deciding on the type of roofing material, choose the right suppliers. Check around your area to see what the property owners require and what the suppliers are offering. Go with the best fit and enjoy your business in roof maintenance & restoration in Malaysia.