If you are a painter and you have finally decided to start your own painting business then the guide is for you! Even if you are not a painter you can always hire one but the important thing is you have made up your mind to start a painting business. Painting business has become quite a thing now and many people have earned a decent profit with their painting business. In this article, we are going to tell you how to start a painting business. So don’t worry if you have no experience with business or you are new to this. One thing we would wanna make clear is it’s not as difficult as you would think of it. So go ahead and read the article to know how to start a painting business.
Also check – How to start dog walking business / How to start a business in california
How to start painting business
1. Choose a name for your business
Well you gotta have a name for your business don’t you? So it’s important that the first thing you do is to come up with a business name! But it’s definitely not something which you can take lightly. Because the name of your business is going to be the brand! And it has to be something worthy. An ideal business name should be easy to pronounce, it should be catchy and sometimes people prefer a name that is close to their heart. Just be innovative and you will be good to go!
The most important thing is it should be available as a .com domain. Because you will have to create a webpage.
2. Create a logo and order business cards
Every business has their logo and they should. Because people will recognize your company from your logo. And the second important thing is to print business cards for your company. You can easily pay someone to design the logo if you don’t have expertise in this matter.
3. Register your company
To start any business you will have to register your company with the state to finally make it an official business or company. To do that you will have to choose an entity such as LLB, corporation, etc. We would recommend you to register your company as an LLB.
It’s pretty easy to register your company you can check the policies on google because the different states might have different ways to register the company.
4. Get the EIN
Once you have registered your company you will get an EIN (Employers Identification Number). The EIN will help to open the bank accounts or manage taxes.
5. Get the license
Once you have registered the company and got the EIN now it’s time to get the license and other permits which will be required to do the business.
You should understand that every state has different license requirements and you will have to make sure that you have all the necessary licenses and permits that your state requires for doing business.
6. Open a bank account
It’s important that you open a bank account. You will have to make a separate bank account for your personal and professional business so things don’t mix up and you don’t have to worry about your finances. It will be better if you sort out the business finances as well as your personal finances.
7. Get an insurance
Insurance is an essential part of any business so you will have to get insurance. There are different kinds of insurances such as compensation insurance or liability insurance.
General liability insurance will help you when someone sues you or there has been any damage done by you while working. While worker’s compensation insurance will cover any injuries to people who work for you. The bottom line is you will have to get insurance and that’s non-negotiable.
8. Buy the required equipment
Starting a painting business will require a lot of equipment. So you will have to sort out the necessary equipment which will be required for the business. Of course, you can rent some equipment which won’t be required for every job you get.
The necessary equipment is a ladder, brushes, paints, airless paint sprayer, caulk gun, masking gun, sandpaper, wire brush, etc. This seems like a lot and yes they are gonna cost much as well so you will have figure out the finances.
9. Estimate the cost
Now that’s the hard part for a painting business but it’s important that you estimate the cost to paint a house. You can estimate the cost on the basis of the labor cost as well as the material cost. After adding all your expenses you will need to add a profit margin. You can also estimate the cost for interior, exterior, and full painting.
10. Hire the labors
It’s not a job that you can do alone (not on big scales). So it’s recommended that you hire good laborers and other employees. Although you can also hire a subcontractor to make your painting business run easily.
11. Find your first jobs
Now you have set up your business and down all the things that are required to start a painting business. And it’s time that you find you’re the first job. There are a lot of ways through which you can get your first job and get the phone ringing for offers. It’s not a hard job because people are looking for painted anyway. You can ask your friends and family members to give referrals.
You will have to market your business and to do that, the easiest way will be to adopt a digital marketing strategy. Make a website and let your potential customers know about your business and provide all the details.