You’re busy. Your sales reps are busy. Supplementing correctly takes time and can be really confusing. So, when a supplementing company tells you that you should supplement every job, why should you believe them?
Simply put, to make what you deserve. Supplementing will change the game for your roofing business. Don’t believe us? Keep reading for a real-life example that proves supplementing every job, no matter how big or small, can help you start raking it in hand-over-fist.
How much can supplementing really make you?
Roofing Contractors will typically earn $2,000-$6,000 per job when they supplement. That means a possible 10-25% increase in yearly revenue.
This increase in profit means you get paid what it actually costs to do the job correctly. You spend time and money to make sure you have the right amount of materials, follow local building codes, use installation best practices to comply with manufacturer warranties, etc.
Even the insurance carriers agree you should be paid for those things. But the catch is, you have to ask for it. Bottom line, if you’re not taking the time to supplement, you’re losing money on each and every job.
Client Success Story: 2020
In 2020, one of our clients made $2.9 million in additional revenue from supplements alone. That year the company’s average approval was $6,022 per job! They achieved such a high average supplement mainly because they are extremely disciplined when it comes to following the documentation process we recommend. They treat every single job as though it will require a full supplement, even if no supplement is required. Their largest supplement gain on a single job in 2020 was $119,000. The smallest was $20.45. In both cases the approach was the same. In fact, during the same week their smallest supplement of the year was approved, a different job had a supplement approved for over $35,000. What separates great contractors from good contractors is consistency. This company was all-in when it comes to supplementing and Elite delivered amazing results.
How Can You Boost Revenue by 10-25% This Year?
The amount of money you make from supplementing largely depends on the type of documentation you provide with your supplements, and how much time you are willing to allow a job to remain in the “settlement” phase of the supplementing process.
If you want to maximize your revenue, make sure to gather all the necessary documentation needed (inspection checklists, photos, invoices, etc.). Prepare each job as though it will require a full supplement and have systems in place to organize jobs so multiple team members can easily access all the information. It is also beneficial to create larger scheduling backlogs, which allows more time to settle more complicated claims, challenge denials and partial trade approvals.
Learn more about Siding Supplements.