Unfortunately, faith and grit are not the only two characteristics of a successful roofing company. Any successful business owner would agree that, in order to effectively manage a company, one needs the right protection. Here are three types of documents that your roofing business needs to protect both itself and its customers.
The Right Licensing
Licensing is essential for any roofing business. Getting the correct business licensing helps identify who is accountable for the business and any problems that may occur. It also protects your customers. However, licensing requirements vary from state to state.
In order to become a licensed roofing contractor in Idaho, you must submit a filled application and pay a certain fee. Within your application, you will also need evidence of liability insurance. Fortunately, you don’t need to take any examinations or get any special education in order to protect your business with the correct license—which also means that you have no excuse not to be a licensed contractor.
Insurance
While nobody likes thinking about the worst things that could happen to their business, it is essential to prepare for a ‘rainy day’ as a business owner. Especially since roofing jobs come with a heightened risk for accidents, your business needs insurance in order to protect both its employees and your own liability for potential catastrophes. No business wants to have to deal with a messy lawsuit. With all the available roofing insurance options, you should take into consideration the needs of your business. Each insurance option and insurance company offer different perks. In general, your company should have two types of insurance: workers’ compensation insurance and general liability insurance.
Contracts
Have you ever gotten into trouble and wished you had evidence about a certain transaction? If you have, then you know it is a very uncomfortable position to be stuck in. Every roofing company needs records about all of its business transactions. These records often take the form of contracts. If you ever sign a deal with other contractors, supply companies, competitors or partners, or employees, it should all be recorded in a legal contract. Make sure you keep several copies of each contract on hand, both hard copies and digital copies. That way, if you ever have to defend your company in court, you have the evidence you need at your fingertips.
The roofing business is gaining a lot of traction, especially now that more and more people are able to afford repairs and replacements. However, if you wish to lead a successful company into the future, you need to adequately protect it with all the right documentation.
Like this article? Want to learn more? Check out 5 Idaho Employment Laws You Need To Know!