The great financial minds of this generation will tell you the best way to be happy while making a living is to find something you love to do and then find a way to get paid to do it. If you love to set your own hours, have a good work ethic, and love being your own boss, than a painting contractor business might be right up your ally. You do, of course, need to know a little bit about painting. It takes more skill than just simply slapping some color onto the wall. Good painters are worth their weight in gold. A good team of painters will continue to find work because they’ve sought after and hired repeatedly by the same contractor or owner, but it takes time to establish a good reputation. You must be reliable over and over again to earn the trust of some contractors.
Owning your own business isn’t one of those decisions you make one day over your biscuit and coffee. It takes a lot of planning to give your painting contractor business a solid foundation so you can sustain during the honeymoon period it takes to really establish your business. You’ll need a solid business plan in place and starter money to help you stay on your feet while your business gets off the ground. If you need to take on partners or investors, they will want to see your business plan to understand your vision for the company and how you plan to grow the company before will invest money into your idea.
Steps to Start a Painting Contractor Business
As mentioned, the first step to starting a painting contractor business is to draw a solid business plan. Be sure and describe the focus of your business and then connect the dots, so to speak, on how you plan to accomplish your goals. Outline your services, your costs, and what you plan to charge the customers. You should consider competitor’s costs as well if you plan on being a competitive painting contractor business in the market.
Your next step is to name and brand your new painting contractor business. You’ll want something catchy and unique without being too far-fetched. You’re not selling children’s clothing so cute isn’t necessary. You want serious business so stick with something simple and serious. Think about incorporating a logo into your name or design so you have a brand you can market in the near future.
Next, you’ll want to register your painting contractor business with the local authorities, Better Business Bureau, and/or work permit offices. You want to have all your legal ducks in a row before branching out and introducing yourself to the general public.
The fourth step in launching a painting contractor business is to take inventory of the supplies and equipment you have on hand. Is there any other equipment vital to offering the services you plan to offer? If so, you’ll want to make arrangements on getting those pieces of equipment into your arsenal. Check the size of your work truck or vehicle to make sure you can fit everything you need into it.
Next, you’ll want to begin advertising your business, which we’ll talk about in greater detail in the last section. As you can see building a solid foundation is key to building a successful business. If you aren’t prepared before launching your painting contractor business, everything you’ve worked so hard to accomplish could come crashing down before your company has a chance to really excel.
Keeping Your Painting Contractor Business in the Black
Just like in your personal life, your painting contractor business needs a strict budget that you follow. That’s the only way to keep your painting contractor business in the black. As your business grows, so will the bills and the income. Right now, you need to allot money in your budget for starter materials, gas allowances for worker vehicles, and supplies. Anything else should be questioned. Make sure you take all of your costs, including labor, materials, and transportation costs, into account when negotiating a job. If you need to bring on an extra set of hands to knock out a job faster, than cost needs to be in the initial quote you give the client. Making wise budgetary decisions from the start of your painting contractor business will keep your business afloat, even in tough economic times.
How to Advertise Your New Painting Contractor Business
Advertising can be one of those ideas and costs some business owners neglect or put onto the back burner. Instead, advertising should be celebrated for the attractor that it is. Advertising, in its many forms, draws customers to your business. Let’s look at a few of the different types of advertising you could use to promote your painting contractor business.
Free Advertising: Sharing the latest about your painting contractor business with the general public doesn’t have to cost you an arm and a leg. Many times, you can take advantage of free advertising by using social media. Creating a company Facebook page and promoting among your friends won’t cost you anything. You should do the same with other social media avenues as well. And, don’t be afraid to cross promote. Those social media pages or accounts are also a great place to offer coupons or discounts to help you fill up your calendar.
Online/Print Advertising: Your painting contractor business will definitely need its own website. That’s a place online where you have complete control over the content. Keep your website updated regularly and you can push it from your social media pages. You can buy a catchy web domain for just a few dollars per month and build the site yourself with just a little know-how. If that thought intimidates you, think about subbing the job out to a pro, but make sure you build in weekly or bi-weekly updates to keep your website fresh and new for customers.
Video Advertising: Video advertising of your new painting contractor business can really introduce potential customers to you as a business owner. The cost is a great deal more, but a high quality production of a :30 spot for TV or radio could last you a while. You could also add a video to your website to keep it interactive, but make sure it’s not too long or customers will never watch it all the way to the end.
