Starting your own painting business is a thrilling endeavor. It allows one to make money, it’s a scalable occupation, and it isn’t difficult to outperform your competition. So if you’re searching for information regarding “how to run a painting business” or “how to set up a painting business”, you’re already on the right track and we’re here to help get you started.
Licensing, Insurance & Paperwork
So before you begin booking clients or hiring employees, there’s a few things that you’ll need to tackled before you hit the ground running. Such things you’ll need to do would be:
- Find A Business Name – Select a unique business name, but nothing that is too difficult to remember. Once you’ve found something that’s fitting, purchase the domain name so nobody can take the name away from you online. If you’re unaware of what a domain name is, a domain name is what people type into their internet search bar to find your business website.
- Further Establish Your Business – Create a logo for your company or have someone do it on fiverr.com for considerably cheap (it only takes about eight to ten days for someone to make a logo through the site). If you would like to make it yourself, try using logomakr.com. Once you have a logo established, order some business cards. One can get around 500 cards for a considerably low cost at sites such as moo.com or vistaprint.com.
- File LLC/EIN Papers – An LLC is the entity of your business. An LLC is unlike a sole proprietorship as it shields one from liability in the event of your business being sued. To file this information, just simply Google your state and LLC paperwork. Once your LLC paperwork is completed, file your EIN. Your EIN is what you’ll need to get a bank account and file taxes. However, it’s important that your LLC paperwork is received before you set up an EIN. Once you have your EIN and LLC created, open up a bank account for your business. To keep yourself organized, you’ll want to avoid mixing your business and personal funds. If you plan on building (in addition to painting), you may need to set up a builder’s license. A building license generally depends on the laws and state you live in.
- Set Up Liability Insurance – Make sure you have liability insurance set up before you begin working. The two main types of insurance you’ll need to be concerned with are worker’s compensation and general liability. Worker’s compensation covers injured worker and general liability covers you in the event that you are sued. Independent insurance agencies tend to cost less, so try setting up general liability through them.
Estimating Your Work
So now that you have the legalities covered, it’s time to figure out how you’ll generate profit by estimating your work. To estimate your work, you’ll need a laser measurer as it will help you along with the estimation process. Once you purchase one, begin laser measuring your home to get an idea of how much you will charge for an area. You won’t need a fancy measurer as a beginner, so the quality of one is nothing to worry about.
However, it’s important that you don’t get too caught up in measuring and estimating property aspect of your business. Many end up getting wrapped up in the process and it prevents their businesses from moving forward. Although you’ll make a few mistakes once you begin, you’ll pick up the process and leap this obstacle rather quickly. Just try to remain fair to the customer and provide fair prices for your work.
Marketing Your Painting Business
This might be the easiest step, as the market is always looking for painters. To get things off the ground quickly, begin buying leads from leading generation companies. HomeAdvisor.com is an excellent place to do so and gain access to such information. Once you’ve set up a HomeAdvisor account, set up an account through Thumbtack. Thumbtack offers small, inexpensive leads, but these small jobs will help you learn the ropes rather quickly. Once you get a few jobs and build a solid rapport, you’ll have no problem keeping your painting business up and running.
We hope this guide was helping for how to run a painting business. Please leave a comment below with your thoughts on how to run a painting business!