Advice on roofing and insurance

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by a searcher from Harvard University
in Washington, DC, USA

1yr ago

Advice on roofing and insurance

I'm considering an investment in a roofing company that's business is focused on "storm chasing" (i.e. seeking insurance claims for customers after storms). I'm trying to understand how stable this type of business is. I've heard reports that insurance companies tightening up, but I've also heard others say that concern is overblown. I'd welcome perspective from investors or operators in the space.

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reply by a searcher 1yr ago
from Harvard University in Washington, DC, USA

Very helpful Karl. In this case, we're hoping that the acquisition price that theoretically offsets the risk. But no doubt the business is indexed to hail.

reply by a searcher 1yr ago
in Honolulu, HI, USA

I know people in the home services industry. The storm chasing industry is actually pretty frowned upon. It's seen in the same light as investors calling home owners the day after their house is burnt down.

And from a financial perspective, it's a very boom and bust model. Millions in revenue one year. Then barely scraping by the next year.

If purchased, you're banking on there being a storm the next year after the acquisition.

A pivot into a more stable business model - is buying a proven roofing business with 10+ years of steady revenue and storm chasing in other areas as a "side income" to the main business.

Best of luck on whatever you decide Michael!