A professional paint work can make any home look prosperous and well-kept. If painting is what you do best, you enjoy doing large painting jobs, and are looking for a career change; then you may want to consider putting up your own painting contracting business. Have some time to determine your skills and ability to run a flourishing painting trade, thoughtfully set up your enterprise, and you can start earning money doing something you love and at the same time make others joyful.
The market isn’t going anywhere, and it’s massive. Approximately 10% of houses will be painted annually. There would always be homes that require painting, and they will always need to be repainted. Other businesses could come and go in just a short period. Technology could render them outdated. But then painting is not going anywhere, and the market is only getting larger.
The competition is dreadful. Everyone has heard horror stories about the terrible contractor they hired, the painter that showed up late, the guy who left the work undone, the person who took payment and just took off with it. These are the kind of competition you’ll get into when you start a painting trade. Simply put, when nobody else even shows up on time, it’s easier to win customers.
Revenue margins are high. Thriving painting business owners claim it’s not difficult to make a 20%+ income margin steadily.
Relatively low start-up cost. Depending on the state you are in and licensing fees, you can actually start your painting company for less than $1,000. One successful painting business owners even claimed that he began his business for less than $300 and already made a profit in the first week. If you have little money to start, you do not need to go out and buy equipment, ladders, sprayers, brushes, etc. Opt for customers who already have the necessary tools and materials and just charge them for your labor fee.
Finding workers is easy. Remember – the competition is awful. Not just for winning customers, but for keeping workers. A lot of the painting businesses treats employees like garbage, doesn’t pay you on time and worst; doesn’t pay well. It’s terrible, but that’s how most painting businesses work. You can employ the best people and retain them by being a better employer. Many people know how to paint, so it’s easier to find help.
It’s a simple business. Painting is relatively straight forward. So there’s not much to learn – it’s not like learning how to develop a software application. You don’t need to be a rocket scientist to be a professional painter.
House painting businesses are among the easiest and cheapest to start. You can even operate your business from home, and the initial startup costs can even be less than $500. The catch is that because it’s fairly an easy enterprise to start, you will have heavy competition. But again, the race is terrible, so you just need to be better than them. And before you initiate the business, it’s important to craft a business plan, decide on your company’s specialization and exude a company image that sets you apart from the others and appeals to your target market.