Starting a painting business can be a rewarding venture for those with an eye for detail and a passion for transforming spaces. But where do you start? Let us walk you through the steps on how to start a painting business. You’ll learn how to create a business plan, get your finances in order, what equipment you need to start, and much more. Whether you’re a novice or an experienced painter looking to strike out on your own, here are six steps on how to start a painting business.
1. Create a Business Plan
Creating a business plan is a critical first step so you can lay out all the details of your business in one place. This helps organize the big picture of your business into smaller details. It’s almost like mapping out an adventure to see the direction you can take your business and the tools required to get there.
There are six key sections in a business plan:
- Company description
- Market analysis
- Organization and management
- Services provided
- Marketing plan
- Financial projections
If you’d like to go more in-depth into how to create a business plan, the Small Business Administration provides some great resources.
2. Organize Your Finances
Although a painting business usually doesn’t have a lot of startup costs, finances always come into play when starting a new business. You will still need to register your business with the state and federal governments, purchase equipment, and set up business pages and channels for customers to find you. In other words, you still need startup capital.
Review the funds you currently have put aside for your new painting business, then research what it will cost to register your business, get insurance, set up marketing channels, buy tools, etc., so you can create a budget for your startup costs. Next, create an operating budget for the next six months to a year, taking into account the money your business will bring in, ongoing costs, and the cost of replacing equipment and tools.
3. Equipment
The great thing about a painting business is that you can find the equipment you need just about anywhere. An article on Small Business Trends mentions a few places to find brushes, all-in-one roller kits, and more at affordable rates. The site also runs through a list of supplies that you may need to ensure that, when that first paint job comes up, you have everything you need to complete it.
When it comes to the actual paint or stain, there may be brands you know from previous experience are better than others. Find the best place to purchase that brand and see if there is a loyalty program you can enroll in to get special deals and discounts. Every little discount helps when you’re a business owner.
4. Licensing and Insurance
To be viewed as a legitimate painting business, you do need licenses and insurance. In each state of the U.S., you are required to register your business. You can do this through the Secretary of State’s office, and the fees are usually around $300 or less.
The types of licensing you need will vary by state. For example, in Alabama, if you are doing commercial painting with work over $50,000, you will need to apply for a license through the Alabama Licensing Board for General Contractors; plus, you’ll need to provide proof of insurance on top of an application fee of up to $300. In Michigan, you are not required to have a special license. Next Insurance provides a great article on what licensing is required in each state.
5. Landing Clients
Generating your first customers can be one of the most difficult steps in starting your business. There’s the good old knocking on doors method or you can learn from others and create an online presence for your painting business. Andy Paz with Paz Window Cleaning did the door-to-door sales routine, before discovering Yelp. And from there he went on to open a Google business profile, then an Instagram account, and a YouTube account. Keep in mind that people love seeing before and after pictures. Having an online presence allows people to easily find you (since they are most likely googling “painter near me”) and see the work that you’ve completed. Although window washing is different than painting, as Andy Paz learned, with the right online presence your phone could start ringing off the hook!
6. Keeping the Day-to-Day Activities Organized
Business organization and processes are a step that some new business owners mistakenly skip. Keeping the day-to-day activities organized is crucial to ensuring that your business can grow. It also helps ensure you can spend time away from the business while both your business and your sanity stay intact. Software like Project 2 Payment goes a long way toward helping you organize daily activities such as bidding, scheduling, and getting paid. Using this type of software also creates a seamless customer experience when you’re short on time. Your customers will appreciate the automated messages that you’ll be working on their project soon, automated payment reminders, and the seamless ability to pay for your services online will keep them coming back for more.
Learning how to start a painting business can feel overwhelmingly exciting. After all, you have so many things to do and huge dreams to achieve. All great dreams start with a plan and sometimes a little bit of money. We hope this guide helps you get started, and we want you to know that we are here cheering for you along the way. If you have any questions about how Project 2 Payment can help you organize your business as you get started, let us know!
