Painting Company: Starting Your Own
Many professional painters have all the tools and skills necessary to begin their own painting company, however most end up talking themselves out of the idea due to the thought that it will be too expensive or hard.
A painting company can be very profitable business or those who have the resources and discipline to make a go. In this article,
we will outline a few steps to help you start your own painting business.
Step 1: Begin by securing a start up of $10,000. If you lack these types of funds, you should look for a silent partner, backer, or apply for a production loan through your local bank. If you are going to a bank, make sure to have your business plan down pat, and to dress in a professional manner.
Step 2: Employee payments, credit card accounts, advertisements, proposals, and expenses should be kept track of on a basic laptop. This will allow you to take care of industry matters on the road or at the job site. In addition, there are many different types of software that will do all of these things for you. Head down to your local computer store and evaluate your options.
Step 3: Head down to your local courthouse and purchase a small business license. Some states require that the company owner purchase a license, whereas others make the contractor pass a series of tests. Check your states business regulations to find out more about your specific requirements.
Step 4: Purchase roughly one million dollars of insurance and cover your truck or can through the same industry. Make sure to use a local company who will take the time to come to the site and view any claim you may have. The more familiar the company is to the clients, the more likely it will be that you get the job.
Step 5: Get in contacts with a business lawyer in regard to becoming incorporated. This serves you by way that if your painting company becomes involved in a law suits, that the other party will not be able to go after your personal assets, only those earned by the corporation.
Step 6: Take a trip over to your local paint supply shop and open credit accounts under the company name. Purchase materials on your card and pay them off each month. This will act as a way to build your company’s credit.
Step 7: Make certain that your dealing has all the tools necessary to complete any task. Some common items include hand tools, extension ladders, inside ladders, and a large number of drop cloths. Pick up additional items where needed.
