Despite some consistent challenges, since 2014, the roofing industry has enjoyed an increased annual profit margin. In this brief article, a roofing lawyer in Texas will discuss some of the biggest issues that face the roofing professionals today. Remember, if you require legal assistance for any of your roofing projects, contact a roofing attorney in Texas today.
Common Challenges in the Roofing Industry
Although there are a variety of challenges that face roofing contractors, here are three topics that are being widely discussed:
Tariffs: With tariffs being imposed on imported steel, aluminum, and solar products, roofing contractors will need to gauge the market when purchasing roofing materials. Of course, with material costs expected to increase in the near future, contractors will need to align their labor costs with these modifications. Roofing contractors may want to partner with business experts that can assist them with forecasting the upcoming market and determining pricing for their projects.
Labor shortage: With a labor shortage problem that has only grown over the last decade, many roofing contractors are not only struggling to find reliable workers to employ to complete jobs, but they are also forced to pay increased labor costs in order to procure the best skilled workers. According to forbes.com, 75 percent of residential roofing contractors and nearly 90 percent of commercial roofing contractors that were surveyed claimed to have experienced increased labor costs in the last year.
Weather: Extreme weather has done hundreds of billions in damage over the last few years resulting in major relief efforts and reconstruction projects from North Carolina to Texas. Hurricanes Harvey, Irma, Maria, Florence, and Michael are all examples of catastrophic natural disasters that made landfall in the last few years. With storm activity increasing along with overall climate concerns, the demand for roofing replacement jobs has greatly increased in recent years.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.