To be successful in the painting business, or any other business for that matter, you need to have some kind of purpose. You must know why you want to get into a specific industry and know how you want your business to develop. Everyone will have different reasons for starting a business but there are some common themes.
Of course the motivation to take the plunge and start a company for many people comes from the opportunity to make money. However there are many other reasons why people go into business. local Painting Company Below we look at ten good reasons to start a painting company.
1) Scale of the Painting Industry
The painting industry is currently worth over 20 billion dollars annually and is set to continue to grow well into the future. The sheer size of the market means that opportunities for hard working painters are plentiful.
2) Earnings Prospects
With your own painting business you will have a great opportunity to earn an excellent income for yourself and your family. Even working alone it is possible to break an annual income of $50,000 fairly easily once you start to get regular jobs. And once you scale up to the point where you are working on multiple jobs at one time and have a team of painters working for you, then the sky really is the limit.
3) Work from Home
Many painters run their businesses from home so there is no need to go and lease expensive commercial business premises. There are also some great tax advantages open to those with home offices. Your ability to do this may be affected by local zoning laws though so you must check this out at the local level first.
4) Low Startup Costs
Compared to other business models, you don’t need a lot of startup capital to start a painting business. If you base your business from home and have access to a suitable vehicle then you can be up and running for well under a thousand dollars.
5) Resilient to Economic Downturns
The painting business is not completely resilient to recession. However, it is much more recession proof than a lot of other industries. While it is true that new housing starts slow during an economic downturn there will always be some level of new building going on. And don’t forget that existing buildings have to be maintained and this can often mean a fresh coat of paint every now and then.
6) Low Barriers to Entry
Pretty much anyone can start a painting business. While there are skills involved in both the practical side of painting and the business side, these are not hard to master with the right guidance and experience. You don’t need a University degree to get into the painting game. There may be licensing requirements and compliance considerations at the local level though so make sure that you check with your city or county.
As your own boss you will, to some extent, be able to create your own schedule to fit your lifestyle. You can work part-time, full-time or week days only, its up to you. Escape your nine to five job, your cubicle, rush hour traffic and gossiping coworkers.
8) Minimal Off Season
Some trades and businesses are seasonal, particularly in the northern parts of the US and Canada where weather conditions can make it difficult to work outdoors for large parts of the year. Lawn care is one example. While outdoor painting may suffer a blow in some areas over the winter, painters are lucky in that they have interior painting to fall back on.
9) An Enjoyable Line of Work
For some people, painting can be enjoyable. If you keep a positive attitude you can derive a lot of satisfaction from seeing a job through to the end and the reaction of a delighted customer. Like everything though you will get sick of it after a while. You therefore have to plan to take on employees as soon as possible so that you can move into a marketing and administration role and have a team doing most of the actual painting work.
10) Prove that You Can
It takes a certain type of person to succeed in business. You must be focused and determined and have a well rounded set of skills. While many people will doubt a new entrepreneur, those that have proven themselves get a lot of respect and admiration. Prove it to yourself, your family and your friends that you are one of these select individuals. Plan to start a painting company right away and get yourself on the path to being a successful business owner and all that comes with it.