Looking into starting in the house painting business? here are 4 tips to help you begin
Does Coronavirus have you stuck in an unproductive rut? With what seems to be an indefinitely long pandemic and limited job opportunities out there, now is the perfect time to prepare for the future. What about starting that house painting business you’ve always dreamed of? Now is a good time to make a change and become your own boss.
To help you get started, we have gathered some resourceful tips to help you kick-start your dream into reality. Let’s get down to the basics.
1. Get your house painting business license
First, you need to ensure that your house painting business will be legally compliant by obtaining the necessary business license (this is state-dependent). For example, in Colorado, you do not need to get a house painting business license. However, Michigan law demands that you register your business, have a business checking account, and obtain Liability Insurance.
While there aren't any certification requirements, you need to establish yourself as a formal business entity with an appropriate structure such as a corporation, LLC, or DBA. Staying compliant with your state's law will help your business from being sued!
2. Knowing what to invest in
During these unprecedented times, COVID-19 has left many facing job losses with people facing severe employment and earning consequences. Amidst such financial distress, it is more important than ever to spend your money wisely. Buying supplies for your painting business can cost as little as $500 or even less if you hire a subcontractor.
Here is a list of the items that you will need to buy:
● Roller brushes with trays
● Airless paint sprayers
● Sandpaper
● Ladders
● Drop cloths
● Masks and goggles (optional)
According to an IBIS World report from 9th April 2020, the house painting industry's market size currently stands at $37 billion. If you haven't hopped on board this bandwagon yet? You're missing out.
3. Get General Liability insurance
Assuming you are starting small with your house painting business, it's recommended you invest in General Liability insurance. Doing so will help you stand your ground against third party lawsuits such as employee injuries or property damages. You will need to determine what coverage different insurance providers offer to determine which suits your business best. And the best part is General liability insurance will give you peace of mind knowing your painting business is in safe hands.
Pro-tip: Choose a professional broker to help you get the most competitive and reasonable price quote. This will help you save money in the long run.
For more information Visit contractorsiability.com
4. Go tech
Never estimate how much paint or how many workers are required for a house painting project. The easiest way to manage resources and calculate costs is with technology. Smartphone apps like SmartBid bid management system or Building Calculator, a free construction calculator app helps you calculate the amount of materials you’ll need for a project.
Always use formulae. Math doesn't lie!
Get your first painting job
Print compelling flyers and spread the news through word of mouth, tell friends and family, campaign door-to-door, and create a website or Instagram page for your house painting business.
Use our 4 awesome tips to start your house painting business. Put yourself out there and work your magic with paint.
