Fraser roofing

Jacob Fuchs says when a roofer makes a mistake, they should ask the homeowner what they would do to make it right. He paid $14,000 to a homeowner to fix moisture damage after a quality control issue, letting the homeowner choose the contractor. He believes doing so well that the homeowner is motivated to share the outcome is the goal, not asking them to take down a negative post.

“Ask this question: if you were me, what would you do for you? Because if the homeowner picks the answer, because sometimes if you pick it, there's no answer you're going to pick that's going to satisfy them.”Jacob Fuchs

Jacob Fuchs says private equity firms promise big buyouts but rarely deliver the full amount, often firing the original owner within a year. He explains that one firm in Georgia now owns twelve roofing outfits under different names, so homeowners think they are getting multiple bids when it is the same company. Prices can be four or five times higher than independent roofers for the same work.

“They're going to fire you as the CEO the moment they buy your company or within a year of owning it. I have yet, I know a lot of roofers all over the country, I personally don't know anyone who has sold to private equity who goes, oh my goodness, I'm so glad I did that.”Jacob Fuchs

Jacob Fuchs recommends asking ChatGPT who owns the roofing company and whether it is private equity owned. He says the information is public but homeowners usually do not look it up unless they know to ask. Private equity owned companies often charge for estimates and find ways to avoid honoring warranties.

“ChatGPT, who owns such and such roofing company, is it private equity owned? It's going to answer that question for you.”Jacob Fuchs