How to Start a Roofing Business In Maine
To start your roofing company in Maine, you will have to complete a few different steps. You may want to start here: Starting a Roofing Business.
Getting started– A few websites created by the state of Maine on how to start a business can be found here:
-Register your business name.
Contact your local government agency about registering your name.
If you need help selecting a name for your roofing business:
-Select your business structure.
Sole-proprietor, LLC, Partnership, Corporation, etc. Find out more here: Maine Business Structures
More on Business Entities: Choosing a Roofing Business Structure
-Register your business with the state of Maine.
You can find out more about obtaining a business license here: Maine Business License
-Open a business account at your bank.
You will need to open a separate bank account for your business with your new business name.
-Register your business for tax purposes and hire an accountant.
If you are a small company, it is not too difficult to file your own taxes. As you grow, it will be easier to have an accountant do the work. More info about taxes here:
-Get liability insurance.
In Maine and many states, understanding the regulations and laws regarding the need for contractor liability and bonds for contractors can be tricky. Having the right coverage is crucial for all roofing contractors.
We work with ContractorsLiability.com because they’re the one-stop-shop for General Liability insurance and are able to get online quotes in all 50 states. Plus, their expertise means they’re fast when it comes to getting the right bond and liability coverage. Maine roofers need to win the job and stay protected at an affordable price. Learn more >
-Register as a contractor.
At this time, roofing contractors are not regulated by the state of Maine.
-Get worker’s compensation if you have employees.
The insurance agency that provided your liability insurance should be able to help with this.
-Get Health Insurance.
Since you will be self-employed, you will need your own health insurance. If you have employees, you will need a plan that will include their health needs also.
-Get licenses and permits.
You may be required to obtain a license and/or permit to do business in a particular locale, whether you are a resident, or not. You need to make sure your roofing work follows the building codes in your area, realizing that your work may be subject to inspections.
Depending on how many employees you have, you may need to follow OSHA regulations.
Depending on your startup budget, you may need to apply for financing to help pay for equipment. Direct Capital offers financing for equipment for businesses. *Must be in business 2 years OR have a 700+ FICO score for consideration. Find out more>