Starting a painting business could be a great business but just because you can paint your house, and like it, doesn’t mean it’ll be easy or fun to make a business out of it. Starting any type of business requires careful planning, organization, and hard work. If you’ve had children and realized it was harder than you thought it’d be, it’s the same with starting a business. Here are some steps and tips to help you get a painting business started:
- Find your niche: In today’s world, a jack of all trades is not as desirable as it used to be. More demanding and informed homeowners are looking for specialists in their craft. Doing it all just won’t cut it anymore. Evaluate the competition, their pricing strategies, and main services to determine how you can differentiate yourself in the market. The more niche, the higher the margins usually as there is less competition but also more complex. Choose wisely!
- Develop a business plan: A business plan will help you define your goals and determine the steps you need to take to achieve them. Your business plan should include information on your target market, pricing strategy, marketing plan, and financial projections. It’s important to realize that you should be setting aside at least 10% of your revenue goal for marketing and allocating it wisely.
- Register your business: You will need to register your business with the appropriate government agencies and obtain any necessary permits and licenses. This may include a business license, tax ID number, and liability insurance. It’s important to choose a good name for your painting business. Your last name with painting after it is probably not the best way to build a scalable business; get a little creative!
- Purchase equipment and supplies: Purchase high-quality painting equipment, including brushes, rollers, paint sprayers, and drop cloths. You will also need to purchase paint, primer, sandpaper, putty and other necessary supplies. Consider buying in bulk to save money. Do not skimp on equipment even though the investment may be higher up front, it will save you money long-term and pay dividends. Always make long-term decisions when starting any type of home service business!
- Hire employees: Determine if you will hire employees or work as a solo contractor. If you decide to hire employees, develop a hiring process, including interviewing and screening candidates. Consider hiring employees with experience in the painting industry but remember to prioritize attitude over skill. You want to be working with people you’ll enjoy working with and help you grow your business.
- Market your business: Develop a marketing plan to promote your painting business. You’ll need to start by creating a logo and putting together some sales materials so that you can start marketing your painting business. To start generating some interest you’ll need to execute a variety of marketing tactics such as online advertising, social media marketing, and local traditional advertising. You’ll also need to develop a website and optimize it for search engines to increase your online visibility. Marketing your painting business is probably the most complex part. Growing a business solely through word of mouth may take years. Marketing is essential to getting any type of home service business off the ground. Although costly, consider hiring an agency if you’re unfamiliar with all the types of digital and traditional marketing and how they work together. It is important to consider an omnichannel and holistic approach to marketing!
- Provide excellent customer service: Provide high-quality painting services and excellent customer service to retain customers and generate referrals. Communicate with your customers to ensure they are satisfied with your work and address any issues that arise. Online reviews are vital to growing a successful painting business.
Starting a painting business can be a rewarding and profitable venture. With careful planning and hard work, you can build a successful business and establish yourself as a reputable painting contractor in your community. Doing so will require patience, persistence, a positive attitude, and a sound business plan. If you are interested in starting a painting business and don’t know where to start, a Spray-Net painting franchise has all of the above covered for you and much more!