It’s not as difficult as you might think to get into the painting industry, and starting a business based around your painting talents is a terrific way to generate money.
This article will walk you through every step of beginning a painting business, from basic setup to scheduling your first client to recruiting your first employee.
It even covers how to persuade people to call you.
This guide was created for experienced painters who want to launch their own painting business.
After some time spent working for a painting firm, you might be ready to go out on your own in order to increase your income.
Keep reading our step-by-step guide to find out how you can successfully start your own painting business.
Licensing, Insurance, And Paperwork
- Decide on a title for your company.
- Invest in a domain. When someone wants to visit your website, they enter the domain.
- Place a business card order. Cards can be made for a reasonable price.
- Submit your LLC documentation. An example of a commercial entity is an LLC. If your firm is ever sued, having an LLC rather than operating as a single proprietor will assist protect you from some personal liability.
- Obtain an EIN. You’ll need an EIN, which functions as your company’s equivalent of a social security number, in order to submit taxes and open a bank account.
- Establish a bank account. You should avoid combining your business and personal finances for administrative and legal reasons.
- Determine if you require a builder’s license. Online research will determine this.
- Invest in general liability coverage. In the event of a lawsuit or an accident that causes property damage, general liability insurance will protect you.
- Invest in a laser distance metre. You don’t need anything fancy, so get a cheap laser measurer for now.
- Exercise estimation. To develop a fundamental degree of comfort with estimating, practice it around your home or apartment. Prior to your initial actual estimate, estimate at least three or four rooms.
Promoting Your New Painting Company
Contrary to popular belief, it’s quite simple to draw customers in. Don’t worry too much about it; the market is in need of painters.
There are numerous ways to get the phone to ring, but purchasing leads through lead generation businesses is the most effective way to get things going.
What To Do After Receiving A Call
- Set up your initial estimate. Contact the lead and set up an estimate as soon as you receive your first lead.
- Send an email of confirmation. Specify the time and date. People like it when you are succinct, polite, and to the point.
- Do the estimate. Make sure you get some good practice before the real thing!
- Paint your first job. Again, make sure you have bonded up on your painting skills before your first paid job.
Employing Your First Person
Hire your staff once you’ve painted on your own for about a month and feel certain that you have the procedure down.
Painters earn their profits by doing the actual painting, and painting companies earn their profit by managing the process.
Managing the business brings quite a lot more money than painting itself.
- Prepare a job application for employment. Basic contact information and a few important questions, such as “why would you like the position?” and “explain your previous painting experience,” should be included on the job application.
- You should make the application procedure simple because getting many individuals to apply is the objective.
- Call to schedule interviews. The best time to interview candidates is within two days of when they submit their applications, while their enthusiasm in the post is still pretty high. Interviews should last around 30 minutes.
- Conduct interviews. In the interviews, you should determine whether the job applicant can arrive on time, has the correct attitude, is sincere in their desire to work for the business, and is a good fit for the role in general.
Worker’s Compensation And Payroll
Once you’ve employed someone, you must establish a payroll system. Purchasing payroll software is one way to achieve this.
You must also invest in a worker’s compensation coverage. In the instance of a working injury, worker’s compensation insurance takes you out of the picture and pays the price.
For painters, it’s typically around 10% of the salary, which is a bit high but still well worth it.
Training New Painters
The main steps of instructing people are as follows: demonstrate a task to them, watch them perform it, observe them, then give them a few pointers.
Give them some freedom and monitor them each hour until they master it.
Expanding The Workforce
Hire a second worker and put him on the same team after the first worker gets to the stage where he can work independently.
You may still be working 40 hours a week painting with your team at this stage.
Spending fewer hours on the painting part of your business should start after your two or three person crew is operating smoothly.
Now, it’s crucial to check in a few times a day since your team will ineluctably encounter circumstances that call for your intervention (going over budget, performing an action incorrectly, etc.), and it’s your responsibility to step in and resolve the problem.
How Much Money Can You Make With A Painting Business?
A lot. You can generate substantial revenue, but only if you put the proper priorities first. You can make $1000 a day and go for larger projects.
So many artists focus solely on painting and lose track of developing their businesses.
To make money, you must leave the construction site and establish your business once your painting team is in full swing.
Starting a painting company and working for yourself can be really fulfilling. You don’t need to move mountains to scale up your business and get it ready for prime time with a little amount of paperwork, money, and determination.
As long as you have the appropriate business structure, permits, insurance, and plan in place – you can effectively run your own successful painting business.
If you enjoyed this article, you might enjoy our post on ‘How To Start A Cookie Business‘.