How to Start a Painting Business
Starting a painting business can be a very lucrative business venture. With the right knowledge and preparation it can also be very rewarding. Commercial painting is no easy task, as there are many different aspects to consider when starting any new business.
Many paint companies simply start out with the owner as the only employee, but may quickly need additional help from employees or contractors as information spreads about the business or they are able to land huge jobs. Here's everything you need to know on how to start a painting business.
Do you have a passion for making people's homes or businesses look good? If yes, starting a painting business is for you. In this article, I am going to provide you some tips on how you can start your own painting company. This article will help you in understanding the challenges that come with it and will also help you in overcoming them.
Before obtaining any business licenses, you need to define the structure of the company. Decide whether you want to start a residential or commercial painting business. The type
of business model you choose and your location determine how you need to register your business.
If you want to own a business with a reasonable start-up cost and the potential to make a living, consider painting. With just a desire for success in your pocket and a few tips for starting a paint business, you can start your own business and make a profit almost immediately. The start-up costs for this kind of business are anywhere from around $2,000-$10,000.
With such a low start-up capital and low operating costs, you have the opportunity to build a high-demand business from scratch that offers a good return on investment - all without the need for extensive paint experience.
What is a Painting Company?
A painting company helps home owners or business owners update their building's interior or exterior by applying paint, pigment or color on to a solid surface. Depending on their skills and resources, they might specialize in painting buildings, houses and apartments, or commercial properties, like offices, factories or retail stores.
The Importance of a Having a Business Plan
If you have no idea how a painting business operates or maybe you are a first time business owner, I recommend downloading a business plan from BPlans. Their plans outline how the business is supposed to work and what you should expect. And at the bottom of this article, you can buy the painting business plan plus the commercial painting supplies vendor list, so you’ll know exactly where to get the equipment and supplies from.
Selecting a Business Name
The name of your business is one of the most important decisions you will make. Your business name is not just a label, but it also says something about what you do, how you do it, and who you are. It is the first thing customers see when they visit your website or read your marketing materials. If you are feeling stuck on deciding on a business name, you can use this Name Availability Search Tool to see if your website name is available first. It will suggest ideas for you.
After you buy a website name, it's time to officially register your business. You won't be able to accept payment for services until you complete this step. You'll need to register & apply for a federal EIN Number, and form an LLC or Corporation. I recommend using MyCorporation, as they do have a variety of packages to choose from, but their most basic package will get your painting business started right away.
Setup a Merchant Account
Once your business is registered and you have the LLC and EIN number, you'll need to activate a merchant account for your customers to pay you through. Many businesses are using paypal, square or stripe. I personally like Square, they make it super easy for me to accept payments online via my website, on email or over the phone. They have great painting company invoicing features and your employees and contractors can accept credit cards over the phone.
The account with square is free so, once you sign up, give these details to the web designer to setup your website to accept payments.
Setup Your Painting Company Website
If you don't know about Fiverr, it's a company that sells affordable web development and marketing services that get done really quick. You just type in what you want in the search bar, and it will reveal tons of people who are willing to help you get a website up in less than 3 days. Once you choose the person you want to work with, give them the bluehost details and communicate your vision and plans for the website.
Buy Painting Company Branding
Branding is a crucial part of any business. It’s important to create a brand that will be recognized, respected, and remembered. But branding doesn’t just mean the logo on your products. A brand is so much more than that! Your brand covers how you speak, how you respond to your customers, and how you present yourself as a company. It’s also important to take care of the “little things” like social media images or a professional email signature.
Make sure that your brand is recognizable by everyone who encounters it. I recommend using 99designs because the process is quick and painless and you actually get what you want. They will design a custom painting company logo, painting company brochures, painting company flyers and more.
For marketing materials, I really like envato, because they literally have tons of graphics for each and every single kind of business, on demand. Commercial painting companies shops will usually need to start with a logo, website and email marketing banners, and some social media graphics. 99designs actually has what they call the ‘brand identity’ pack that will get you started right away.
Open a Business Bank Account
After you’ve chosen a name and registered your business, you can officially open a business bank account. It's pretty easy to open, but they won't get you set up without having the legal incorporation paperwork and the EIN number that I just spoke about. You can work with a local bank that you are already using or you can just choose a new one. Use this account to send all of your payments through. Square also has small business checking accounts. I trust them and have been using their services for a long-time.
Equipment / Tools Needed to Get Started
First of all, all businesses need a general business license from the local municipality, but paint contractors may need an additional license. A business license is required to perform professional painting in most areas. Contact your local and state government to find out requirements for your type of business. If you plan to hire employees to paint, you need to understand every step of the paint process from the inside out and be successful. If you have painting experience, you may find that the actual part of painting is the easiest part of running a business. Of course, if you have experience in painting, running a business, or both, you will have a greater chance of success, but neither is absolutely necessary.
if you are planning to start a painting company, then one of the things that you need to do is get the right equipment. The right painting equipment will ensure that your business works well and also helps in making profit.
If you are serious about starting a painting business, you should definitely consider buying these types of painting equipment for your business:
Paint Brush Combs
Paint Buckets, Cans & Pails
Tack & Cheese Cloths
Hand Maskers & Accessories
Pail & Paint Hooks
Mud and Paint Mixers
Paint Rollers & Trays
Tank & Trigger Spray
Hand-operated floor sweepers
Epoxy Resin & Varnish
After you've purchased supplies, It's important to choose your niche and narrow down the services you offer and who you offer them to. By starting small, you can expand your staff and services over time.
Choose the Services You Will Offer
Whether you are an experienced contractor or a newbie, starting a paint business can involve many questions and considerations, some of which are unique to working in the home renovation industry. This is an important step towards starting your own painting business, and if you think about it first, it will save you time and hassle when you're busy with work later. Depending on whether you intend to focus on providing residential or commercial painting services, your territory can help or ruin your business.
If you are thinking of buying or renting the equipment you need to get started, here is a list of painting equipment suppliers.
When it comes to pricing your painting services, look for other painting companies in your area to get an idea of how much to charge for your services. Of course, you can always talk to another painting contractor for their opinion on how much it costs to get started. When starting a new business, make sure there is sufficient local demand for the painting service, or consider offering specialized painting services, such as paint removal or staining services, that are not currently offered locally.
Commercial painting revenue has been on the rise because companies are purchasing multiple properties to expand their market share in different communities. The ability for commercial painters to go in and determine needs at each property is important and offering additional services like dry wall repair, prior to beginning work will also help increase the amount of money your business can make.
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About Adella Pasos
This Entrepreneur and Marketing Expert has shared her passion for growing brands from the ground up. She’s worked with Startups, Small Businesses, Fortune 500 Corporations and Entertainment Talent to help them recognize the value of marketing, and give her clients the ability to access their niche market via online, social media, mobile, merchandising, and events.
She hosts the What's Your Game Plan TV show features: Free Expert Advice, and Growth strategies for Business Owners Across the Globe. Access thousands of FREE Tips, Trends & Tools to Move Your Business Forward!