For
years there has been a lot of discussion in our industry about why
roofing contractors fail. With stats from the U.S. Department of
Commerce, like 29% of concerns failing in year one, 56% within three
years, and 72% within five, you can see why it is a hot topic.
The
most concerning data — the numbers that should catch your attention —
are the revenue and profit stats of those who stay in business.
According to Fundera, a finance company for small businesses, a
staggering 98% of home service contractors generate less than $1 million
in annual revenue with a woeful net income of less than $80,000.