Buildings, regardless of the size and purpose, need paint. Paints act as shields to protect any infrastructure from the damages caused by the rain and sun. Buildings made from wood need paint in order to prevent water from seeping into it and creating significant damages to its foundation.
Everyone—home and business owners alike—need paint to take care of their investments. The demand for paint is high in almost all locations, especially new houses, making it a very feasible business. A painting business is an excellent way to make money because it’s scalable and the services you’ll have to provide can be learned easily. This business can also help you expand your network.
To help you out, take note of the tips below so you’ll know how to start a painting business:
1. Create A SMART Business Plan
More often than not, you’re thinking about starting a painting business because you want to earn a profit and attain financial stability. Having this goal can be a great motivator as an entrepreneur, but these aren’t enough for you to immediately jump into the business arena. In order for your painting business to succeed, you need to create a SMART business plan first.
A SMART business plan stands for specific, measurable, attainable, relevant, and time-bound. Your business plan should determine what your painting business’s short- and long-term goals are. What steps are you planning to take to let your target market know that your business exists? How much profit are you expecting after one year or five years? These are just some of the most basic questions your business plan should answer.
Moreover, your business plan should also contain in-depth research about your competitors and target market. You should know what strategies your competitors are using and if these are actually effective in hauling in customers. It’s also important that you know what your target market wants and how much they are willing to spend on a painting job for their house.
2. Obtain Professional Training
The idea of adding coats of paint to a house’s walls might seem easy, but actually, there are more skills needed when you start a painting business. For one, you want to learn the safety measures to follow whenever you’re painting the exteriors of a residential property. A painting business that doesn’t know the necessary safety measures while working will surely create a negative impression in the public’s eyes.
Regardless if you have painted countless surfaces in the past, it’s important that you undergo professional training. This can be your avenue to learn significant tricks and tips to do a better painting job in less time without putting your safety at risk.
Depending on your budget, you can acquire training from specialty trade schools in your area or purchase training manuals and video courses from reputable training companies, painting business franchises, or paint supply distributors. Directly asking for one-on-one sessions with a painting contractor can also help.
3. Attend To Legal Necessities
A painting business doesn’t only include providing high-quality painting services using top-of-the-line products; it also requires you to attend to your legal responsibilities. As an entrepreneur, you need to comply with the rules and regulations in your state to ensure that your business operates without having any legal repercussions.
For your painting business to become legal in your state, you need to obtain the necessary permits and licenses. You also have to think about what kind of business structure you will follow. Are you the sole proprietor of the business? Will you run the business as a corporation or with a partner? After you’ve decided on the structure of your painting business, you now need to file all the necessary paperwork to the secretary of your state.
If you’re going to hire employees, apply for an Employer Identification Number from your Internal Revenue Service first. All of the legal forms you need for your painting business can be accessed online or mailed directly to you.
Don’t forget to purchase business liability insurance as well. A painting business that is licensed and insured creates a positive impression in the eyes of your potential customers, making it easy for you to convince them to work with you.
4. Invest In Marketing
Marketing is an important factor in the success of your painting business. It’ll be hard to sell your services if no one in your state knows about the existence of your business. A successful marketing plan will make it very easy for you to win potential customers.
You can get the word out by investing in the right marketing strategies for your painting business. This will allow you to reach out to your target market and eventually create positive relationships with them.
Listed below are the most common marketing strategies you can try out for your painting business:
● Build a Company Website: Millions of people around the world are using the World Wide Web, and if you want to reach as many customers as possible, maximizing this platform should be on top of your to-do list.
One of the easiest ways to haul in customers for your painting business is to invest in a company website. When creating one, make sure that it uses a professional-looking theme and contains all of the vital information about your painting business. You can make the most out of your website by asking for your customer’s information and making them recipients of your email marketing efforts as well.
● Door-to-Door Marketing: Although time-consuming, door-to-door marketing is a great way of getting customers. All you have to do is decide on the neighborhood you’d want to target first and then knock on as many doors as possible.
Aside from letting the homeowners from that neighborhood know about the existence of your painting business, door-to-door marketing will also allow you to provide prompt painting services and know more about the common painting-related problems of homeowners.
● Flyers: Since you’re still a neophyte in the business arena, it’s best if you focus on affordable marketing strategies first. Printing flyers, for example, is a great way to market your painting business without spending a lot of money. For better exposure, you can place your flyers in high-traffic areas in your state, such as local groceries and bus stops.
Be Fully Committed
Just like any other type of business, starting a painting business for houses isn’t an easy feat. You’ll have to surpass countless challenges before your business becomes stable and provides a steady income. Aside from the financial capital, you also have to pay extra attention to your time to ensure that all facets of your painting business are taken care of.
Starting a painting business is a challenge, but once you’ve successfully built a strong foundation, everything else will come easy in the long run. Just make sure that you have the determination and patience so your painting business attains success!