English
English
Español
Français

Sign Up for Our E-News!

Join over 18,000 other roofers who get the Week in Roofing for a recap of this week's best industry posts!

Sign Up
CT_CimateFlex_Infographic_FINAL_2.jpg
NRCA - Side Bar - Empower All 2024
VaproShield - Sidebar - Integrity - Oct
Quarrix - Sidebar - SmartPlug Free Sample - April 2024
People Make Roofing - Kyrah Coker - Oct
SRS - Sidebar Ad - SRS Para Latinos
English
English
Español
Français

Advice for an Ever-shifting Industry

Adams and Reese industry advice
September 6, 2022 at 3:00 p.m.

By Cass Jacoby.  

Trent Cotney gives his big picture advice for contractors heading into 2023. 

Heidi J. Ellsworth virtually road trips cross country to visit with Adams and Reese’s Trent Cotney in a new Roofing Road Trips episode. Having worked with the NRCA, WSRCA, FRSA and many more associations, in addition to being a longtime advocate for the roofing industry, Trent gives his unique perspective on what is currently going on in the industry.  

“Times have been fairly good, even though it doesn't seem like that,” says Trent. While contractors are still recovering from the effects of COVID and many social and economic related issues, the roofing industry has remained strong. That being said, Trent's number-one piece of advice going into 2023 is that it is time to start cracking down on our budgets.  

“When the money's flowing, you don't see the cracks. When that money stops you start seeing the cracks immediately,” says Trent. “What I want contractors to do is get that mortar out and start covering those cracks right now.” 

Trent also suggests that contractors watch out for private equity investments. The industry is certainly seeing more private equity and companies that are merging or being purchased or rolled up. Trent warns that not all private equity companies understand roofing, sharing, “My concern is that some of that financing that is available through private equity may dry up or disappear...So be very careful.”  

“Now is the time to really start fine tuning your operating procedures as it relates to accounts receivable, and as it relates to getting deposits, the vetting process for onboarding customers, making sure that you're contracting with the right people to begin with,” says Trent. “It will sneak up on you sooner rather than later." 

Learn more about Adams & Reese in their Coffee Shop directory or visit adamsandreese.com.

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.

Listen to the podcast for more advice from Trent going into 2023 and for his predictions for the year ahead. 



Recommended For You


Comments

There are currently no comments here.

Leave a Reply

Commenting is only accessible to RCS users.

Have an account? Login to leave a comment!


Sign In
NRCA - Banner - Empower All 2024
English
English
Español
Français

Sign Up for Our E-News!

Join over 18,000 other roofers who get the Week in Roofing for a recap of this week's best industry posts!

Sign Up
Duro-Last New Membrane Colors Sidebar ad
NFBA - Sidebar Ad - Accredited Builder
NRCA - Side Bar - Empower All 2024
Contractor Outlook - Sponsored by SRS
Bitec - StrongHold Sidebar Ad
Cougar Paws - Sidebar Ad - The Tool You Wear Gif