Principia Study: A Closer Look at Commercial Roofing
Roofing contractors need to be experts in their field to be successful; they also need to understand what property owners are looking for in roofing contractors and roofing systems. Having expertise may be an obvious requirement for growing a business, but understanding a customer’s mindset can differentiate the winners from the losers. Recent research conducted by Principia Consulting that focused on the commercial roofing market reveals an inside look into the property owner’s decision making process. Findings were collected from 116 commercial property owners and managers who were screened for their involvement and knowledge of commercial roofing programs.
Over half of property owners and managers interviewed were involved in multiple projects and are expecting to handle two or more repair, partial reroof, total reroof or restoration projects in 2016. It’s not surprising that the average new commercial roof program costs over $100,000. Commercial roofing projects often cost an average of 10x more when compared to residential projects based on overall square footage and project complexity. Property managers also indicated that 30 percent of reroofing projects are expected to cost over $100,000 and 20 percent of partial reroofing projects are expected to pass the $100,000 threshold as well.