In the United States, the home painting industry is worth $37 billion. A home painting business can help you earn tons of profit because starting one is not only easy but also rather inexpensive. In some cases, an investment of just $500 is enough to get you started. In this guide, we’ll show you how you can start your own painting supplies business with as little investment as possible.
Registering your Home Painting Business
It all begins with the registration of your business. For a home painting business, the type of registration can differ from state to state. So it is a good idea to check the local government’s website and see what local trade organizations have to say about business registration in your home town. From the same place, you can also buy a website domain, insurance, and more.
Investing in the Equipment
After registering your business, the major part of your investment will go into buying painting supplies and equipment. You’ll need things like brushes, ladders, sprayers, drop cloths, vehicle (optional), and other supplies.
For any business to generate leads, it must create a list of most influential customers in the area they are covering. It is very important to create a list of influencing companies and customers in your community. Consider adding high-profile realtors, B2B companies like gutter installers, flooring installers, and commercial property managers. You could also
Build your Sales Pitch
Before you approach these influencers, you need to come up with powerful marketing materials as well as a solid sales pitch. You must cover everything in your sales pitch that will help you convince these new clients.
Because you’re just starting out, showing reviews and client testimonials will be impossible for you. So stick with things like offering warranties and guarantees. You need to show your clients that they are reducing the risk of working with a new company.
Set Fixed Rates Like Janovic Colors NYC
When it comes to rates, you need to keep three key factors in mind. Your rates should be based on charge rates, production rates, and pay rates. Production rate is the rate that tells you how long it takes for a painter to paint a surface. Pay rate is what you pay to your employees. Charges rate is what you will actually charge a client for an hour of labor. A good example of how rates are set can be found by studying other painting supply businesses.
Know the Concepts of your Business
Many small painting businesses only focus on the painting side of their business. You need to be aware of other concepts of business such as bookkeeping and marketing. If you really want to excel in this industry and beat your competition, it is a good idea to enroll in short marketing, sales, management and operations courses. You’ll learn a lot about how to successfully run a business other than focusing on its main aspect.
Start Building a Portfolio
As you start working with new clients, make sure to create your portfolio. Take photographs of the work that you have completed. Ask clients to leave a review for you on your website and social media pages. Once you start getting reviews and recommendations, getting new clients will become easier.
Don’t Forget your Old Customers
It is easy to overlook customers you have already worked with in the past. If you worked with someone, chances are that they will work with you again in the future. Because a painting jobs
Make sure you are always in touch with your old customers. The best way to do so is to take their email address and send them a monthly newsletter. Offer them discounts and other benefits and watch them come back to your for business.
Invest in Marketing
The promotion and marketing of your business are the most important aspects of a painting business. Janovic Colors NYC is a perfect example of how a small business can make huge profits by focusing on marketing.
As soon as you are financially able to invest some money to market your business, you should go ahead and do that by hiring trustworthy professionals to do that job for you, if this is not your area of expertise.