How much to pay yourself in Roofing Business? Roofing School

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How much to pay yourself in Roofing Business? Roofing School
Do you pay yourself enough? Do you pay yourself too much? Can your business afford you? Https://roofing-school.com explains. Comment how you pay yourself.
Insights:
00:00 This video is sponsored by Roofing Business School
01:27 Figure out your salary
03:13 Create a job or do the job to support your revenue
07:47 Hold people accountable
08:44 Always focus on net profit
10:12 Pay yourself from your overhead
11:32 Leaders Eat Last by Simon Sinek
Read more about how much to pay yourself: roofinginsights.com/how-much-...
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Опубликовано:

3 июл 2024

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Комментарии : 51

@RoofingInsights3.0 3 года назад

Insights: 00:00 This video is sponsored by Roofing Business School 01:27 Figure out your salary 03:13 Create a job or do the job to support your revenue 07:47 Hold people accountable 08:44 Always focus on net profit 10:12 Pay yourself from your overhead 11:32 Leaders Eat Last by Simon Sinek

@schrief98 2 года назад

My partner and I started out paying ourselves 75 g a year as Scorp in construction company. We reinvested anything above that each year. We now have a plumbing HVAC and Electrcal side with 34 employees in those and 70 in our construction side. We have been growing into roofing the last 4 years and went from a million on roofs to over 8 mil a year just roofs alone. What he says here is so true. We have other partners in our trades that spend everything they make they will never gain true wealth. It’s much nicer to be able to buy things when you need them and not borrow constantly to grow. Great video

@RoofingInsights3.0 2 года назад

What market are you in? Whats the name of your roofing business? You got me intrigued...

@leroybrown9873 3 года назад

After disco sugar, smokable safety rope and liquid lunch expenses the rest is called take home pay. Learned that at roofing university. Bigg Time.

@RoofingInsights3.0 3 года назад

💪😂😂

@GrandRoofingInc 3 года назад

I have 5 hats, and I pay my self a small salary. Focussing on building a brand and investing in the business first! Good video my friend!

@RoofingInsights3.0 3 года назад

Good for you my friend! Best of luck in your journey!

@GrandRoofingInc 3 года назад

@@RoofingInsights3.0 thanks! Hey did I hear right, are you having a content creator conference next week?

@RoofingInsights3.0 3 года назад

Yes! Free class, November 13, Minneapolis. Register online: Roofingclass.com

@brandoncervoniggg6963 3 года назад

I pay myself 40k a year and reinvest the rest. Ive been in business 2 years and created around 1 mill each year.

@RoofingInsights3.0 3 года назад

Good for you! Hope your business makes solid profit after you pay yourself!

@ctplastering4536 2 года назад

I'm not even a roofer I'm a plasterer from Ireland but I have to say your channel is brilliant. I wish there was more content like this in my trade

@tinamcwilliams7029 3 года назад

These are the true things about it all .it's a hard gig but the world needs us

@tinamcwilliams7029 3 года назад

You give great advice and as year gets closer to open up I have a lot of things to work with .thanks for your videos

@leonardovargas4989 Год назад

Thank you so much for this! Was thinking about this on my first job completed and this just showed up. Made it clear for me. Keep up the good work

@vitaliybedrik7203 Год назад

Thank you so much for all this info,I’m only on my way to opening a business and this channel opened my eyes on a lot of things that I didn’t know,watching and learning,Thanks guys…

@ContractorDynamics 3 года назад

Excellent video on an important topic, Dmitry.

@ryantheentrepreneur4040 3 года назад

Thanks

@MrGushpellumbi 3 года назад

Really helpful!

@dopeboiiage Год назад

Honestly brother thank you so much for putting out this content. This is my 4th year in business. I live in canada and its hard out here. We dont have active weather like the states so majority of our sales is retail. When i see sales guys averaging 100-200k a month in sales im just in awe.. we did just under 400k this year and i felt like i busted my ass lol

@tommyuberiii4398 3 года назад

Your videos are very helpful Uber Roofing LLC Thank you for your support 😀✅

@liers99 3 года назад

I pay myself hourly for the time I’m swinging the hammer, a small salary for operating the business, and a quarterly profit dispersement. Has worked really well for me and when I am finally ready to hire someone his pay is pretty already in my cost of goods sold.

@RoofingInsights3.0 3 года назад

Love it!!! I see you are in handyman business? Let’s talk!

@liers99 3 года назад

@@RoofingInsights3.0 working on getting it going again. I started it up last year and did pretty well for 6 months then went a different direction and should have kept doing what I was doing. Planning to be fully back into it by the end of this month.

@brandonhowell1752 3 года назад

1st full year in buisness and we did 4.5 million in revenue. All insurance jobs with really good profit margins %40+. We kept are overhead low, and I plan to keep it that way. I do not live above my means. I see allot of people going out buying $500k houses and blowing their money. My goal is to build wealth. I will stay humble and pay myself 60k this year. Considering buying a new truck and wrapping it. The goal this season is 10 mil .

@heyspeed4155 2 года назад

Good for you that’s impressive especially first year. Do you have lots of competition in your city? I’m thinking about starting my own company but just nervous with the large amount of roofing company’s in my city

@brandonhowell1752 2 года назад

@@heyspeed4155 Sure. There is all kinds of competition in my area. I dont let that affect anything. Its all about your mindset. If a customer says anything about how old the company is... I simply explain that between everyone who works for us, We have well over 100yrs expirience put together. We all used to work for other companies and we finally decided to form our own!! Do quality work and ask for refferals, you will have more work than you can handle.

@lGameChangers 11 месяцев назад

@@brandonhowell1752how do u start a LLC COMPANY

@franciscoarmenta 3 года назад

Good stuff

@theodorecarbajal2975 3 года назад

Great video I'm currently wearing 5 hats as well!! Your videos help alot, and give me hope. I have 2 contracts with my new business.. not alot but its going. I get nervous but I understand the process and I know I can sell jobs with insurance it's my passion!

@RoofingInsights3.0 3 года назад

Thanks for feedback!

@reynerioguevara2990 3 года назад

Let’s see.

@nobodyreally5264 Год назад

sean penn,left hollywood for youtube.

@tinamcwilliams7029 3 года назад

You got a comment from grand roofing .he another dude that definitely knows his buissness

@joeldelamirande5792 3 года назад

Amazing I’ll try to apply that

@RoofingInsights3.0 3 года назад

What strategy if any do you have now?

@joeldelamirande5792 3 года назад

@@RoofingInsights3.0 not really working hard always answer the phone,try to give a good service Try not to spend to much Give me a call if you want to build a strategy you have my number

@Wessbruh2015 3 года назад

So a partner and I are about to start a roofing contracting business in the DFW. This has really opened my eyes to what we should be paying ourselves. Do you recommend owners paying themselves a salary based on a percentage of profit? I know I HAVE to make x dollars per month to cover a humble lifestyle. How important is it to build up a savings business account in the roofing biz? I like the idea of setting goals, when we hit x percent of profit, we increase our salary x. Milestones. I'd love to chat with you on the phone if that's possible.

@timkretzer5002 3 года назад

I started an S Corp early on and set myself up on a 2k salary per month (most of it being withheld for taxes). Then At the end of the month I take a discouragement based of the success of the business or on the need to pay off credit cards. So many months $0 and other months $30,000. First year in business I took home over $200,000 thank the Lord. Working in stabilizing the business now.

@timkretzer5002 3 года назад

Great video by the way dimitry I love your content and appreciate your humble spirit. As a minister myself it is refreshing to see someone be real about victories as well as struggles. Thank you

@scottpelley7372 3 года назад

Thank you so much for the insight. I started about 6 months ago and knowing what to pay myself is one of the hardest hurdles. I have partnered with Atlas shingles because I believe in their products and have confidence that when I drive away from a project that I won’t have to return

@infowarner2510 3 года назад

i been a top sales in my company for 4 years , 2021 im opening my own roofing company here in MN can i meet you and go over some questions and advised

@anthonytran5327 3 года назад

Started paying myself salary this year & reinvesting profits within my company by buying assets that create recurring revenue 😁

@RoofingInsights3.0 3 года назад

Best business decision in business is to pay yourself smart and live on less what you make.

@tinamcwilliams7029 3 года назад

That's so funny I work my brother in law

@joshuaholmes5096 Год назад

So if you're overhead includes labor and everything that goes with the company, rent, supplies, tools, fuel, maintenance, ext, ext, how on earth would that number be only 10%? On a 5mill company, spending 500k on 5 employees, rent, office supplies, field supplies, insurance and all the other costs seems really low to me. Even if you spent another 20% on marketing it would put your profit margin well over 50%. Am I missing something or is 10% for your overhead way under inflated?

@tinamcwilliams7029 3 года назад

You have workmen comp or your workers have insurance .comp is so expensive

@DavidSummerly 3 года назад

🙏

@jaimebenitez3208 3 года назад

Enjoyed this one my friend. Id like to speak with you personally if that can ever happen.

@RoofingInsights3.0 3 года назад

Sure thing. Please submit request via our website (or text thumbed on site). And we can schedule call early next week.

@kasparsk9586 3 года назад

I pay me a small salary. I pay more my workers that me. In my country to pay net salary 1000eur i need to pay in taxes 743eur, welcome to my country :)