How to Start a Roofing Business In New Mexico
There are a few steps to take to become a roofing contractor in the state of New Mexico.
Getting started– New Mexico has a website to help you get your business started: https://gonm.biz/business-resource-center/
1. Register your business name.
You may not need to register your business name unless you want to trademark it. Make sure no one else is using the name you choose here: https://portal.sos.state.nm.us/BFS/online/CorporationBusinessSearch
2. Select your business structure.
3. Register your business.
You can register your business with the state of New Mexico here: http://www.tax.newmexico.gov/Businesses/register-your-business.aspx
4. Open a Business Checking Account.
You will need to open a separate bank account for your business with your new business name.
5. Find out about taxes and hire an accountant.
You may want to file your own taxes if you are a small company. As you grow, it will be easier to have an accountant do the work. More info about taxes here: http://www.tax.newmexico.gov/Businesses/register-your-business.aspx and http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Starting-a-Business
6. Get Liability Insurance.
Find an insurance agent that offers liability insurance. You may want to shop around, as prices and options can vary. Roofers have a higher risk than other types of contractors, so insurance costs will be more for roofers than landscapers, painters, etc. More about liability insurance here: Roofing Liability Insurance
7. Register as a Contractor.
Check with your local government to see if you need to register.
8. Worker’s Compensation.
The insurance agency that provided your liability insurance should be able to help with this.
9. 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.
10. City License.
You may be required to obtain a license to do business in a particular locale, whether you are a resident, or not.
Depending on the locale, you may need to apply for permits before commencing certain types of roofing jobs.
12. Building Code and Inspections.
You must be aware of building codes for particular jobs, and may be subject to inspections.