Growing a Painting Company
There’s a lot that goes into starting and growing a successful painting company. You’ve got to hone your skills, work on marketing strategy and accounting practices, and meet the financial, legal, and regulatory requirements of running a business. But, as a small business owner in the painting industry, you may be subject to less regulations and red tape than other businesses. That doesn’t mean you don’t have to put in the effort, though.
You’ll still need to decide what services to offer, set up a website and social media, and market your business to attract new clients. You’ll also need to choose a business structure, which can impact the type of licensing and insurance you’ll need to operate legally.
One of the first decisions you’ll need to make is whether you want to open a sole proprietorship, partnership, or limited liability company (LLC). A sole proprietorship will allow you to run your business as an independent contractor and keep all profits for yourself. A partnership will allow you to share ownership and operations with a partner or partners. And an LLC will provide protection from personal liability if you’re sued for damages or injured on the job.
Starting and Growing a Painting Company
In addition to deciding on a business structure, you’ll need to register your painting company with your local municipality and get a business license. You’ll also need to buy insurance, including general and workers’ compensation. Insurance can be expensive, but it’s a necessary investment for protecting yourself and your employees. You can save money by purchasing a business owners policy that bundles all of your essential business insurance into one package.
You can also reduce startup costs by focusing on a niche service in your area. Choosing to specialize in a particular technique or style of painting can help you stand out from competitors, and clients will be willing to pay more for your expertise.
Finally, it’s important to build relationships within the industry to help you get referrals and find deals on supplies. Networking with anyone from your local insurance agent to the employees at Home Depot can benefit your business.
Once your company has a steady flow of work, you’ll probably need to hire help. Depending on the size of your business, you’ll need to decide whether to use subcontractors or employees. Subcontractors have the advantage of not requiring you to pay workers’ compensation or other taxes, but they can be difficult to manage and control. Employees, on the other hand, are more likely to stay loyal and perform up to your standards.
Whatever route you take, it’s important to be consistent with your branding and message. This will help your customers recognize your brand and make it easier for them to refer you to friends and family. You can also save time and money by using a quoting software to create, send, and track professional quotes for your customers. With Jobber’s QuickBooks Online integration, you can even manage your accounting from the same place you schedule and manage jobs.
