Being your boss by starting your painting business can be one of the most exciting – and demanding – adventures you can have. And while the steps can be hard work, the good news is that following them step by step (each listed below) ‘ll set your business on the path to success right from the start.
Putting together your house painter business plan is another important step in setting up your business.
Indeed, the business plan will serve you, on the one hand, to check that your company will be profitable and, on the other hand, to convince your bank to follow you in the adventure.
This document consists of two main parts: a financial forecast highlighting the potential profitability of the project and a written part used to present your professional project in detail.
There are solutions if you’ve never done one and don’t know where to start. You can, of course, delegate its implementation to a firm specializing in this type of task. You can also, and it is less expensive, use an online business plan software.
Create Your Brand Image.
When you start a new painting business, you must create a name for it. More than just catchy, your business name should be memorable enough to set you apart from your local competitors. Consider the following points:
- What are the things that set you apart from others?
- What elements will make people remember you?
- What will make people recommend you?
Register Your Business
Although you don’t have to register a business name to offer your services using your name, once you’ve decided on a name for your painting business, it’s time to make a name for yourself. An official legal entity. Start by getting a tax identification number and opening a business bank account. In addition to helping you keep your personal and business finances separate, this business account will make things easier for you on the tax front.
The tools you need to start your painting business, besides basic tools like brushes, rollers, scrapers, and drop cloths, depend on the contracts you accept. Postpone the money you plan to invest in other equipment until you have accepted the projects that justify their purchase.
Also, resist the temptation to get cheap brushes and rollers designed for DIY consumers, not professionals. The quality flaws of these tools will become apparent when you achieve professional results and are forced to make costly and time-consuming touch-ups.
Finding Funding To Open A House Painting Business
As with any business creation, starting as a house painter requires a starting investment. However, the investments to be financed are limited: a vehicle, a few tools, and possibly a room to store the equipment.
Start by counting your funds; that is to say, your savings are immediately available. For example, you can use a bank loan to finance the vehicle. Take care to file a credit application with several establishments to obtain the most advantageous rate. Also, consider the aid intended for business creators and buyers, such as ACCRE.
Finally, alternative solutions are ae, such as the use of crowdfunding.