How to Start a Home Painting Business

Painting is an easy way to supplement your income. You can do it part-time or full time depending on your business template. There are a few steps to take before launching the enterprise.
You need to consider licensing, company registration, licensing and casual labor.  Others are startup funding, how to estimate a job, equipment and ways to approach clients.
1. Register the business
Register the business with the secretary of state or corporate affairs commission. You could register the business yourself by visiting their office and filing the documentation.
Other ways is to hire an attorney or use online registration services. Register the business as a sole proprietor or LLC. The next step is to get an employer identification number EIN.
2. Setup a bank account
You need to setup a bank account separate from your personal cash. It do this use your registered company name to open the account. Make sure the account is a checking account to receive checks and electronic fund transfer.
3. Licensing
Some states require painting businesses to have an operational license. Find out from your host state their laws guiding the enterprise.
Painting has a few risks such as chemical inhalation and accidental falls from high places. You need appropriate insurance cover for the business.
4. Painting equipment
The type of equipment you purchase depends on your business format. Subcontractors generally use rented equipment or use outsourced painters. However owing basic painting equipment is beneficial and saves cost.
You need paint brushes, paint sprayers, sandpaper, and wire brush. Others are ladders, masking gun, caulk gun, scraper, roller, buckets and drop cloths. The equipment cost could rang from $600-$2,500
  • Brushes
  • Air paint sprayers
  • Sandpaper
  • wire brush
  • ladders
  • masking gun
  • caulk gun
  • scraper
  • roller
  • buckets
  • drop cloths
5. Funding and Startup Costs
You can fund the enterprise with your personal savings. You could approach a micro finance institution or borrow from friends and family.
Startup includes registration fees, bank account deposit, insurance fees and securing an operational license. Other expenditures are transportation, equipment, and marketing costs. The total startup costs could run from $5000-$15,000.
Total Startup Costs
  • equipment-$1500
  • license$ 0-$1000
  • business registration-$150
  • marketing $100-$1000
  • insurance-$80-$100 monthly
  • transportation-$300 monthly
6. How to Estimate
Estimating the properly is very important to the success of your enterprise. The estimation is done on the cost of paint, transportation and labor costs.
If you are painting an entire building calculate the interior and exterior to reach a moderate estimate. Make sure you know the exact price and type of paint your client wants.
Estimate the amount of paint needed to do the job including transportation to the site. Then estimate the amount of labor you need to finish the job.
7. How to Paint the Building
You could outsource painters, hire subcontractors or do the work yourself. Another way is to have your own employees to do the work. We recommend hiring painters to work alongside you for large project.
Painting yourself is very hard backbreaking work. The progress of the project would be slow without any added benefits.
Hiring employees involves paying monthly salaries even if you have a contract or not. This is not a sound business plan unless you have regular large scale contracts. Subcontracting is the easiest formula because the paint company you hire does all the work.
8. Marketing
To reach customers you need lots of networking and advertisement. To reduce unnecessary expenditure estimate- a workable advertisement budget. Use newspaper publications, classified websites and social media platforms. Other ways include traditional printing of flyers, banners and posters.
beautiful house
8 Steps to Start a Painting Business
1. Startup Funding
2. Register the Business
3. Setup a Bank Account
4. Licensing
5. Painting Equipment
6. Estimate the Job
7. Outsource casual labor to Paint the Building
8. Marketing
Pros and Cons of Starting a Home Painting Business
A professional painter is only as good as the last job. They attract customers through referrals, advertisement and word of mouth.
There are lots of business opportunities for painters in the real estate market. They could work for home owners, estate developers or interior decorators.
The job requires lots of physical labor, patience and precision. A good knowledge of paint composition and prices is beneficial. To operate favorably in this industry you need to know the pros and cons of the industry.
Pros and Cons of Starting a Painting Business
Pros of Painting Business
The startup cost for a paint business is moderate and could be done as a side gig or pat-time. You can earn good income and there are franchise opportunities. The painter has other related services such as property cleaning and wallpaper.
Pros of Starting a House Painting Business
  • Low Startup cost
  • Perfect as a Side Gig
  • Perfect for part-time or Full- Time
  • Earn Good Income
  • Lots of Franchise Opportunities
  • Lots of Related Services to Offer
  • Outsourcing opportunities
  • Hire casual staff
Cons of House Painting Business
You face a hugely competitive market and seasonal work. You need to purchase lots of equipment to favorably compete. You need business insurance from accidents, knowledge of paints and safety gear. The job is very physical and you face lots of health challenges.
Cons of Running a House Painting Business


Post a Comment