If you've long had a love for painting or have the skill for it, perhaps you may want to consider turning your hobby into a money-making opportunity. Share your talent and expertise with the whole world by starting a business that revolves around your skill. Painting businesses are lucrative and attractive opportunities because not a lot of people decide to get involved in such ventures. They require skill and patience, and they’re also very labor-intensive. But if this is something that you'd want to get into, the rewards are also great.
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Main street painting businesses have a massive margin for profitability. If this is a path that you're interested in taking, be prepared to enjoy the following benefits:
Easy To Get Started
If you're still thinking about testing the waters, it may be advantageous for you to begin on a part-time basis first. That way, just in case it doesn't work, you don't stand to lose too much. Plus, starting out on a part-time basis makes it easier for you to refine and leverage strategies that are going to work well in expanding your business.
With a painting business, you've got an advantage due to the relative ease of starting it up. It doesn't need much capital either. For instance, you can initially order and use only the paint that's required by your first few clients. Additionally, this is something that you can also do with manpower by first taking on only a few people in your team. You could employ these teams on a project basis, which means that they get paid only when there's a job. This way, you don't have to worry about paying for fixed salaries during times when there are no jobs.
Marketing Your Painting Business Is Easy
Another advantage associated with starting a main street painting business is that it's relatively easy to market compared to other types of businesses. Getting people to subscribe or call for your service is going to be a lot easier than you initially imagined. Nowadays, there are many ways for you to market your business, all thanks to technology. For instance, you can sign up with companies such as Main Street that can help promote your business in the larger market.
Additionally, people are always looking for a good paint job, be it big or small. This means that the demand is strong, but the supply is weak. In most cases, there are not enough painting contractors in one locality to meet this need, so your prospects are bright.
Startup Costs Are Minimal
If you want to start a business but you're constrained by a lack of financial capacity, fret not. With a painting business, the startup costs are often quite minimal. This means that you don't need to worry about raising a massive sum of money for your capital. You can even start your painting business right away from the comfort of your home. As your business grows, that's when you should also expand to have an office and a bigger team.
With a painting business, you're only going to have to spend on the necessary equipment to get a job done. Just start with the basics. As you begin to take on more complicated paint jobs, that's when you can start buying more and more equipment. As for the paint, you don't even have to keep an inventory of it. Visit different hardware stores or suppliers and ask for their booklet swatches or samples. This is what you can then present to your clients, should they not have a good idea yet of the paint that they wish to use.
Training A New Team Is Easy
As your business expands, naturally, you're going to need more members to join your team. But unlike other companies, you don't need to feel pressured to hire new multiple employees at once. You can take it one step at a time, and one new employee at a time. Plus, training a new member of the team isn't too difficult. Yes, even you will have to regularly attend new seminars to obtain certification, along with added skills and techniques. But when these seminars aren't available, you can train the new members of the team yourself.
Here are some facets of training that you may want to look into:
- Show the new member of the team how to complete a specific painting job
- Give the new member a chance to apply what they learned, while also checking on their progress ever so often
- Watch the trainee apply the techniques that you're teaching
- Re-demonstrate the task, if there's anything that they're not doing accurately
- Fun And Rewarding Job
This is an advantage that some of you are going to be on the fence about. But, if painting is something that you love to do, then you're in for a fun and rewarding job. As your business grows, you're going to earn a steady income. It's not just any income per se, but it can be an excellent source of living. Plus, the most significant advantage is that while you're earning, you're also having fun.
It's not every day that people can say that they love their job. With a painting business, no two workdays are going to be the same. Naturally, you're going to tackle new areas in painting projects as you proceed through them. Each time you accept another one again, the client is going to have their particular specifications regarding the color, and other aspects. In this kind of set-up, your workdays are never going to be boring. It's like you get to expect something new every time you take on a task.
Competition Is Quite Lax
Compared with other contracting businesses too, the painting industry is not one filled with too much competition. Not many people wish to start a painting business, so there's not going to be very many of you in one area. Because the market demand for paint jobs is constant, this means that there are relatively few painting businesses to meet the needs and demands of clients. This makes the painting industry a very attractive one for you to enter.
Additionally, even when there's competition around, it should be easy to surpass the competitors. Many painters make a lot of common errors that turn out to be red flags for clients. Hence, it's quite easy for you also to win over the clients of the competition.
Some good ways for you to be better than the existing competition are as follows:
- Finish painting jobs on time. If you hear about a paint job that wasn't completed on time by another painting contractor or was left unfinished, don't hesitate to jump in and target this project.
- Charge your clients with the right amounts. Don’t be that painting contractor who will simply run away with the money of your clients.
- Show up on time, even when most other paint contractors are not on time.
Cheap To Develop Skills And Techniques
This section applies to those of you who don't have any skill or talent in painting at all. But because you need to earn a living, you're looking for an opportunity to grow. It may be the case that obtaining a college degree is next to impossible for now, more so because of the costs that are associated with it.
In this case, learning to be a painter isn't going to cost you that much. In general, studying to become a painter costs less than going to university to acquire a degree. With the right skills and experience, you can also slowly work your way up the ladder of success. This makes main street painting an excellent opportunity for those of you who are looking for ways to improve their lives financially, while at the same time are also under pressure due to financial constraints.
Easy To Find New Workers
Earlier in this article, it was discussed that training new members in your painting business is relatively easier than the skills requirement for other industries. But there's still more. It's also quite easy to find new workers to become members of your painting team, should you have the need to expand. If there's a big painting job that you need to finish, it's easy to find painters only for that specific job, or on a temporary and part-time basis. This eases out the operational aspect of running a business.
Be aware that the job market today is filled with unemployed individuals. Many of these aren't exactly looking for jobs that match their degrees. In fact, many still don't have degrees. There may even be those who are looking for extra income while completing their university studies. This is your market to acquire new members for your team.
A painting business is a great way to earn some money, and the list of advantages given here should be enough to prove that idea. Especially if painting is something that you're truly good at or passionate about, it will become very easy for you to outpace the competition. If this is something that you've wanted to do for a long time, then by now you should be sufficiently convinced that it is indeed a good idea. Just remember to be prudent and proceed with caution, as you would with any other business.