How to Start a Painting Business

Have you ever tried to contact a painter for a quote? Or after you accepted the quote, did they show up to do the work? If so, you know there is an excellent opportunity in the industry. In this post, we will discuss starting a painting business with no experience. 

Painting is a relatively easy job. But, it can also be very tedious as it requires time and patience. Hence, many homeowners are willing to outsource it. 

Thus, if you don’t mind a mindless job and long hours of prep work, a painting business might be right up your alley.

Honestly, a painting business is perfect even for someone with no experience and no money. However, be aware that it will require time and patience to achieve the right results. 

Pros and Cons of Starting a Painting Business

Just like anything else, starting a painting business has its pros and cons. 

Pros

• It is easy to get started. You can begin as part-time and grow into a full-time gig (if that’s what you want). 
• The start-up cost is meager. You can start the business with nothing and buy supplies and tools as you go. 
• Because of low overhead, once established, your business has a strong possibility of being very profitable. 
• The industry is extensive; you can find a niche that you enjoy and stick with it. For instance, you can become an expert in exterior painting or special finishes.
• You can target homeowners, pre-existing homes, builders, landlords, and apartments. 
• Can expand to similar work — drywall, cleaning, etc.

Cons

• The job is physical and will require you to climb up ladders and stairs. 
• Overall, it is an easy business to get into; thus, you will find that many others are reading my blog and taking action. 
• The work is seasonal, especially in some areas of the country where it gets cold. 
• Depending on the segment you are focusing on, the work will fluctuate with the economy. 
• Hard to find good help.

Painting Business Setup

Business structure, insurance, training, and other things will be directly dependent on the type of service you offer. 

While Federal requirements are straight forward, state and local laws and demands will vary.

If you contact your local chamber of commerce, they will provide you unmatchable assistance.  

You can also use Google Search to find out details about business registration in your state or city. Keep in mind that some cities require licenses.

Why is Specializing Important?

Defining what type of painting you are inclined to do will dictate the rhythm of your business. Your tools, supplies, vehicle, insurance, etc., are directly dependent on your target market.  

If you are doing interior home painting, your tools would be very different from commercial painting. This is why defining your niche is crucial. 

Do not run and purchase a bunch of supplies and tools. It is wise to wait till you have a job lined up to start purchasing what you need.

Name, Logo, and Website

Before you start marketing your newly found business, think of a name for it. Spend some time searching your region to find names that best fit the area you are servicing.

Naming your company “Coast Painters, LLC” would sound out of place if you located in Kansas.  

Likewise, your logo must fall in line with the name and location. Adding palm trees to a logo simply because you like its looks might not be well received in Lansing, Michigan. Locals will take it that you are not from the region and think you do not understand the area’s needs.

When it comes to logos, there are several tools to help you to create one. If you are not creative inclined, you can start by searching the internet for some ideas. For the design part, you can use services like Fiverr and pay as little as $5 for a logo.  

Creating a website will also help legitimize your business. You can hire someone to do it for a very low price tag, or venture out and try to do it yourself. Services like Wix and Weebly are very user friendly. 

Whether you create your own site or hire someone, one important factor is to add a section to post before and after pictures and client testimonials. It is proven honest testimonials will help you land the next job.

Business Structure

Once you have a name for your business, now you should think about its structure. 

Starting a painting business with no experience, I highly suggest starting as a sole proprietorship. It is the simplest and the most inexpensive way. Later down the road, you can change it.

When it comes to opening a business, each state has its own set of requirements. If you are not familiar with the options available, you can check out this post.

However, it is best to connect with a CPA to discuss your options.

File for EIN

Whatever structure you have chosen, the next step will be filing for an EIN. 

You can simply go to the IRS site and quickly create one. 

One very important thing, when requesting your EIN online. At the end, it will ask you if you want to view the document, click yes, and be sure to save the PDF displayed. otherwise, you will have to call the IRS later. 

Open a Business Bank Account

Mixing personal and business finances are the biggest mistake new and seasoned business owners make. 

Regardless of size or structure, you should open a separate account, and keep it separate from your personal finance. 

If you are running a sole proprietorship, you can open a personal bank account. You add funds for the business and use it only for business.  

A separate account makes it is easier to keep track of your expenses. It also helps you maximize your tax strategy. 

Insurance

Insurance is a necessary evil. In the back of my mind, I have always deemed insurance a waste of money — but it really isn’t. I just think about the thousands of dollars I am paying, and hopefully, will never use it. 

Despite my personal feelings, insurance can save your skin and your company in the long run. But, be careful not to overpay for it. 

If you are an interior painter, don’t purchase a plan that covers exterior painting. When they ask for your estimated yearly income, don’t overshoot. 

Moreover, if you are servicing businesses, such as apartment complexes, they might require workers’ comp. I have written about workers’ comp with more details here. 

Getting Your First Job

The best way to get your name out there is by reaching out to family and friends. If they don’t need anything, they might know someone who does. 

Work social media. At times, you can join local groups and snag a job or two. Disclaimer here, I have never had a stable stream of leads from Facebook.  

If the niche you opt for is residential, you can use different websites to generate lead. Sites like Thumbtack, Porch.com, Home Advisor, Craft Jacks, etc. are just some of the many sites that offer these types of services. 

Keep in mind all of these charges per lead, and more times than not, they are bad, and you end up spending money and getting no work.

Conclusion

Starting a business painting company can be a very profitable endeavor. Whether you are trying to make ends meet or want to make it a career, starting a painting business could be very profitable.
If you provide above-average service and show up when you are called, you are set to become a successful painter.