How to Start a Home Painting Business
Home painting is an industry worth $ 37 billion a year. However, starting a painting business can be relatively inexpensive – as little as $ 500 in some cases. So it is an option that entrepreneurs with his talent should consider.
How to start a painting business
Brandon Lewis is the founder of the Academy for Professional Painting Contractors, an online resource for painters, and the editor of Painter’s Weekly. He recently emailed Small Business Trends to provide some tips and helpful insights to entrepreneurs looking to get into the painting industry. Here are some important steps.
Register your company
The exact type of registration you may need for your business may vary by state. So it is a good idea to check your government website or some local trade organizations for exactly what is required. From there, you can also get insurance, domain, and hosting for your corporate website.
Invest in equipment
That being said, the only real start-up cost your business should have would be equipment. You will likely need ladders, fall cloths, brushes, rollers, sprayers, masks, and possibly vehicles with your company’s logo to get to various tasks.
Find worthy partners
When it comes to actually finding customers, Lewis recommends finding the other companies in your area that are most influential to your target customers.
He explains, “It’s important that you create a top 100 list of influencers in your community for referral and lead generation. You could turn to high performing realtors, commercial property managers, and other B2B service companies like roofers, gutter installers, and floor installers. Narrow your list to 100 and live with them through email, email, text, social media, and personal visits or networks. Maintain a persistent buy-or-die philosophy. “
Create your talking points
You also need to think about what content should be included in your marketing materials and sales pitches. Why should a new customer choose your company over the other options available?
Lewis says, “Build a diagnostic sales process that aims to educate the customer about how your painting business is different from the typical painting company. Warranties, warranties, customer reviews, and painter screening processes should be at the center of your messages so the customer can understand how to reduce risk and add more value when choosing your business. “
Follow-up with prospects
However, it is not as easy to acquire new customers as just sharing a sales pitch with a few relevant influencers. You need to follow up and be in fairly constant contact.
Lewis says, “Use strong prepositioning, presentation, repositioning, and tracking tactics that reflect the customer’s concerns and the sales cycle. Remember, paint services are expensive and it can often take months for a customer to make a purchase decision. Hold on.”
Set erasure rates
When it comes to your tariffs, Lewis said you need to determine three key factors upfront: production rates, wage rates, and fee rates. Production rates indicate how long it takes the average painter to paint a particular surface. Pay rates are what you pay your employees. And fees are what you actually charge a customer for an hour of work.
Lewis adds, “When you value a project, your only job is to measure the square footage, linear footage, and the number of surfaces or objects you are painting. After that, it’s just a 4th grade math problem. Never look at an estimate. Always use your prices and formulas. “
Study the business concepts
Additionally, Lewis adds that many house painters are more interested in the painting side of their business than the actual business aspects like accounting and marketing. But it’s also a good idea to fully understand these concepts.
Lewis says, “Most painting company owners are technicians who hastily entered the world of entrepreneurship. Few have ever taken the time to be a serious student of the business end of their business. I urge all owners to take a season to study marketing, sales, operations and management. If you do this for a short, intense period of time, it will pay off for life! “
Create a portfolio
When working with clients, it can also be helpful to photograph and record your work so that you have examples to share with future clients and prospects. This can show the quality of your work and prove that you have a large number of happy customers.
Stay in touch with customers
If you’ve worked with a number of clients, don’t trust those clients to keep coming back to you for all of their painting needs.
Lewis explains, “By far the biggest mistake painting companies make is abandoning and neglecting customers after the sale. As a result, selling costs skyrocket and the contractor is condemned to unpredictable feast and starvation cycles. Most of the time, when I’m working with a painter who is stalling in terms of sales and profitability, this is the main reason for their failure. “
Invest in Marketing
You can also invest in some online marketing activities like email newsletters, retargeting ads, and local SEO to attract new and old customers.
Lewis says, “For established contractors, I would recommend customer reactivation campaigns to previous clients and use monthly mail and e-mail newsletters for retention. Local SEO marketing can also be effective, depending on your market and your willingness to invest. “
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