Thriving in an increasingly tight market

By Emma Peterson. 

Insights on navigating consolidation, managing risk and building the operational discipline needed to succeed in today’s roofing industry.  

In a new episode of Roofing Road Trips®, Heidi J. Ellsworth and Trent Cotney sat down for a conversation about the current state of the roofing industry and how contractors can navigate a market that is increasingly less forgiving of error. Trent is a partner at the Adams and Reese law firm with over 30 years of experience counseling roofers, giving him a firsthand seat to how the struggles of contractors have shifted over the years.  

Looking at the industry today, Trent says that operational excellence is even more important than it has always been. He shared, “Having that operational excellence is always something that that we advocate for, but it’s even more key as our market tightens and there is less and less room for error.”  

What is causing this tightening industry? Trent points out how the competition and market landscape are constantly shifting due to consolidation. As he put it, “We're continuing to see consolidation among the industry that's created a lot of uncertainty. It goes two ways. One, you have your competitor down the street and if they join a bigger company and suddenly have a lot more market capability overnight, that’s hard to navigate.” He went on, “On the flip side, some of these consolidations are backfiring. There’s a handful of examples of people getting into the business and not understanding the nuances of roofing and suddenly there’s a gap in the market from a business closing down.”  

Trent’s best advice for navigating this highly uncertain market? Run a tight ship and lean on trusted resources. He explained, “In roofing, the market is tight. There will be 10 contractors that go under today and 20 new ones tomorrow, and that’s just how it is... How do you avoid being one that goes under? Get as much information you can.”  

Take the time to read articles from experts like Trent (which you can find here on RoofersCoffeeShop), check out the resources from industry associations like National Roofing Contractors Association and talk to your peers in the industry at events and gatherings. As Trent put it, “Find a really solid group of people that you can talk to and learn from. Even if they’re your competition in some spots, this is really a great industry. Most people want to help; I know I’m always happy to answer questions no matter if I’m on the road or sitting at my computer. That community is how you survive an unstable market like we have today.” 

Listen to the whole episode or Watch the recording to learn more!