Most people probably haven’t heard of this, but a painting business is one of the cheapest and easiest businesses to start. Most people can paint a room or if not, it is something that could be easily learned.
What makes difference is the quality of the job being offered. Before you get into learning how to get your painting business off the ground, see to it that you can actually do the job properly and that you can do it professionally.
This article will give you a closer look at some of the most important points all aspiring painting contractors should know.
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Painting Business Names and Regulations
Officially, you’ll need to pick a name for your business and make sure that it is not a rip off of another widely known company. You may want to choose something catchy, easy to remember, and sound professional.
A lot of people name their company “AAA Painting Company” or something of some sort, as they want to be one of the first companies to show up in The Yellow Pages. However, this is becoming more and more irrelevant this day; especially that most search for the best painting company is done online.
You will see that the most successful painting companies do not essentially come first in these listings but instead, they have constructed a status for great work. So, you may want to name your company something that is more suitable that will carry your brand forever.
Next thing you need to work on is filing for a tax identification number and business license with the right authorities in your county or city. Requirements may differ from state to state so make sure you have all documentation before applying.
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Insurance Coverage
Insurance is an important part of every business, so shop around and make coverage and rates comparison. You need insurance if ever something gets damaged on a property owned by your client or if your car gets involved in an accident or it gets stolen. Keep in mind that if your car gets stolen, it means losing a lot of money.
Business Funding
After getting a license, tax number, as well as insurance, you may want to apply for credit at your credit union or bank. You must obtain better terms and lower interest rates with the help of a credit union.
Getting a line of credit will let you buy the basic gear necessary to do your first few jobs and probably hire a group of staff as your business develops.
Having a painting business is not that expensive, so ideally you’ll be able to fund your initial expenses out of your personal savings.
Painting Suppliers and Equipment
Look for a paint supply company, make a good introduction and form a strong business relationship with them. They’ll probably as for upfront payment when you purchase your paint at first and hope that eventually, they’ll trust you and grant you with credits if truly necessary. The relationship you have with your suppliers is as important as your clients.
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If they also sell other essential tools like ladders, basic spray painting rigs, and others, then you might want to give them that business as well. This is going to bring about a mutually positive relationship.
Advertising and Marketing
Of course, you have to market your business to make it work. Distribute flyers in public or make high-quality business cards and do not be afraid to give it away to people. Make a Facebook page or a website where people can see and contact you easily.
After all, the best ways to get clients today is through the internet. Almost all businesses have brought their brand online and strive hard to have an online presence to reach to their audience.
Hiring Employees
You’ll eventually need to hire the right employees and this is more crucial than it sounds. It’s important for you to do an in-depth background check on everyone that applies for the job. Most employers look for staff that is experienced, but this should not limit yourself from hiring only those people. Again, this is not too hard to learn, so you might want to give everyone a chance.
What you must give more importance to is their criminal records, credit history, and driving certifications. These things will tell you something regarding their personality honesty, reliability, and overall character.
Even though it seems like there are many steps on how to get your painting business off the ground, it does not essentially take that long and the overall process is not that difficult. If you really enjoy painting, then this business shouldn’t be a difficult job at all.
All you need to do is, passion and a business plan and you can build a credible and trustworthy business like Painting Company Bridgeport CT.
