If you have an artist in you and you can induce the emotions of your client on to the wall, you might as well make a great living out of a painting by starting a Painting Business. In this life, home renovation is certain besides death. There are only a few people who tread this earth who have patience with brush and paint. Besides, mortals also want their things to look dazzling and alluring which pushes them to get this job done by a specialist who knows about one or two things about art.
Starting a Painting business proves to be less expensive in comparison to other trades. It does not require a piece of special knowledge. It is also not very much affected by a season fluctuation and getting started is relatively easy. This industry has a low trade barrier which means if anyone wants to get started they can do so in no time.
There are scores of painters available in the industry making a decent living but those who are true artists and very well can across with emotions of their client can charge a hefty price for their service. The rule is very simple the more specialized paint you do, the more you can charge from your customer.
- NAME FOR YOUR BUSINESS- Pick up a name for your business. Choose such a name that connects your target audiences. Having the right name can affect your business success and protects you from overwhelming business and legal hurdles. In short right name can be very helpful in marketing and branding.
- Domain – Domain is an address the people log into by typing in the web address. potential clients can log into the websites and book their appointment and enquire about various other pieces of info.
- LLC PAPERWORK- This type of business structure will protect you from personal liability. It is a hybrid entity that shows characteristics of the corporation as well as sole proprietorship or partnership
- EIN- It helps you in filing taxes and to have a bank account but before applying for EIN one should be done with LLC paperwork.
- BANK A/C – Open a merchant bank account with the right bank which will help you in the keeping flow of money in business.
- General Liability Insurance- This insurance represents you as a serious professional to your client. This sort of insurance is more popular in the market as it cost less and protects you in case if anyone sues you or in case of property damage.
KNOW THE PAINTING BUSINESS MARKET
Understand the opportunities available in the market because one ought to have an in-depth understanding of the business and its scope before you invest your time, money, and energy. It has always been a good idea to ask the individuals who are already in the business so go and ask the other professional painters who have already have hands-on experience. Enquire about the demand for painting in your area whether the work available is commercial or residential. what are the rates? in the market for interior or exterior painting. what are the expectations do the clients have with painters?
Practise is the key so before heading into the business get hands-on experience by painting your friends and family belongings. Improve your people skill means how you interact with people and are you able to get your point across. Know your strength and weakness and look for skills that would keep your work relevant. Painting is a detailed oriented and scrupulous profession and it can be sometimes physically challenging too because often the work in it demands the use of the ladder. Build creative skills that will keep you in demand.
Before starting any business everyone should consider the capital it requires to start. Though the painting business requires not so much amount of investment. The overhead is also very less.
It will cost you around $50 to $450 depending upon how big your venture is.
BRUSHES, ROLLERS, AND SPRAYERS
Very often commercial painters require high-quality equipment like sprayers which is mainly used for exteriors and it is fast and easy to use and will cost around $200. The style of tool mainly depends on the type of job, for instance, a thin angled brush will cost less than $10, and a broad-brush will cost around $25-$30.
One gallon of paint will cover at least 350sqft and if you are looking for a good brand of paint then it will cost you $25-$45. The quantity of primer will depend on the surface and its price is also very similar to paint. To cover 1500sqft 10 gallons is required.
In the painting business, painters require a ladder now and then to paint ceilings or things that are way above a height. Have two ladders one for interior use and one for exterior use. Ladder of 8-12 foot will be worth $100 and 28-32 $300. One can also rent scaffolds for$10 per hour.
DROPCLOTH AND TAPE
These are not to be fancy and will cost you around $100 altogether.
The majority of individuals who are in this business prefer a van as a mode of transportation as it is very easy to use. It would be way more convenient to stay organized and keep supplies secured. Go for a used van it would prove to be a lifesaver for your budget.
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Educate clients about how your way of conducting business differs from your competitors. Elaborate about warranties, guarantees, client services, and every detail to make them understand that by choosing you they are reducing risk and getting more values. Use mailed and emailed monthly newsletter to retain your clients and give them after-sale service to be in touch with them. Keep a track record of your work to build a portfolio that would act as a marketing tool.