Did you know that the average painting business only employes about two employees? Unlike other companies, you don’t always have to hire employees to work for you. Then how do you get the job done?
Well, with this guide, you can find out. From registering your company to generating new leads, creating a painting company is more than meets the eye.
Now, are you ready to get to work? Here are a few tips on how to start a painting business:
How to Register Your Business
To register your business, you first need to file with your Secretary of State. Each state has a different website you can visit. Just click “file a business document” and proceed to establish your business.
Next, you need to get a federal employer identification number (EIN). An EIN number is what is used to set up your business bank account and help you file taxes. To get started, visit the IRS website and click “Apply for EIN.”
Once you’ve obtained your articles of organization from the Secretary of State and received your EIN number, you can go to the bank to set up your business account. Although, you may have to make a small deposit to open your account.
Search For Painting Business Requirements
Each state has different requirements for a painting business license. In some states, you don’t need a license to legally run a painting business. However, in other states, it’s a required step.
Also, insurance requirements vary, but it’s fairly normal to have $1,000,000 in general liability when you’re first starting out. Some insurance companies don’t offer this type of insurance, so it’s best to call local companies and get quotes. However, your insurance shouldn’t cost you more than $100 a month.
What Painting Equipment To Buy
What materials you need to purchase depends on these questions:
- Do you already own painting materials?
- Are you going to hire employees or subcontractors?
- What is your budget?
If you choose to hire subcontractors, you won’t have to purchase any painting equipment. They will have all the materials necessary to paint a house.
However, if you choose to hire employees, you’ll need to buy all the equipment yourself. It can easily add up to around $1,000, depending on how much you want to spend. Although anything you don’t want to buy, you can rent.
How to Get Your First Customers
Getting new customers is tricky, especially on your first go around. If you keep these tips in mind, you’ll generate new leads in no time!
Marketing and Advertising For Your Business
It’s essential that you create a website for your painting business. Websites tell your customers who you are, why you’re different, and the services you provide. By creating a website, you allow customers to connect with your business and understand what you do.
Just make sure the website is aesthetically pleasing and user-friendly. In a recent study, 75% of customers admitted to making judgments about a company simply based on the company’s website design. In other words, your website design is crucial in providing a positive first impression.
For an example of what your website should look like, check out this commercial painting service. It’s drop-down menus, and straight forward explanations help customers find essential information. The key to any positive online experience is to make sure your website is easy to view.
Another way to advertise is to create a Facebook page. With Facebook, you can connect directly with customers and boost your brand awareness.
In fact, since Facebook allows you to create ads, you can market your services to your target customer. It’s a great way to promote your services to a broad audience.
However, to pull in solid leads, talk to friends and family to see if they can give you referrals. If you’re just starting out, it will be easier to sell to those you know rather than acquiring new leads.
Giving an Estimate
Once you have an interested party, you’ll need to give them an estimate. For that, it’s best if you have a pre-made client manual or contract to give customers.
Client manuals and contracts differ from each other. Client manuals outline the company’s mission and provide details about the company’s services. By providing customers with a client manual, it allows you to stand out and seem professional.
Whereas contacts usually go into detail about what’s included in an estimate. Contacts depict the areas of the house, the materials needed, the prep work, and other notes like prices. It displays clearly for the customer the total price, the deposit, and where the customer needs to sign.
That way, there’s no confusion about what the customer is paying for. Instead, it’s right in the contract.
Mistakes to Avoid
Before you dive headfirst into selling, make sure you steer clear of these three costly mistakes:
- Spending too much too fast
- Hiring the wrong people
- Losing money by underbidding
These mistakes can cost you a pretty penny in the long run. Instead, think about how each purchase and hiring decision will affect your bottom line.
Now, Are You Ready to Start a Painting Business?
Creating a painting business requires a few legal steps to get you started. Just remember to look up your state laws as each state differs according to licensing procedures.
Also, when you start a painting business, think about who you want to hire. Employing subcontractors is easier since they have more experience and already have the tools necessary to get the job done.
Subcontractors may even promote your business to those looking for a painting company, knowing they will get some work. So, hey, more money for all!
To learn more about starting your own business, visit our blog.