Starting a painting business is one of the most lucrative options you can explore. Even a beginner with no prior experience in the field can upskill with a bit of training and guidance and further learn on the job.
Everyone knows what a difference a fresh coat of paint can make! From painting an accent wall in a living room to a full-blown paint makeover for office space, the demand for a good paint job is never-ending. Owing to this demand, starting a painting business is one of the most lucrative options you can explore.
Opening a painting company has little to no barriers. Painters are frequently exempt from the same rigorous schooling and certification requirements as other craftsmen are, such as metalworkers and carpenters. This means even if you are a beginner with no prior experience in the field, you can upskill with a bit of training and guidance and further learn on the job.
Another compelling argument for establishing a painting company is its adaptability. You have complete control over how many jobs you take up. This is especially true if you want to conduct painting work on a seasonal basis.
In comparison to other disciplines, painting requires less expensive equipment initially. But if you choose to update your resources over time, it can help pay for itself by allowing you to operate more effectively and take on bigger assignments.
As and when your firm grows, you won't have to spend a lot of money on staffing or hiring subcontractors to get things done. Unlike other occupations such as carpentry and plumbing, understanding how to paint homes has a lower learning curve. This implies you won't have to spend as much on employees as you would if you hired more skilled workers.
So now that you know getting started is fairly easy, and cost-effective, the best part is that you can launch and start your business in just 30 days. How? We have the perfect solution for you
Hoist is a technology platform that makes starting your business substantially easier. Designed to disrupt the franchise model, Hoist provides a business-in-a-box solution, making it one of the easiest ways to start a painting business!
There are only a few things you need before you start out. And with the help of the dedicated team at Hoist, you can bet that we’ll help you every step of the way.
At Hoist, we believe that anyone has the power to be their own boss. This is why we developed a business-building platform that allows individuals to break into the painting industry, which is valued at $46 billion.
But can beginners enter this market? With Hoist, absolutely! We don’t just help you set up your business, but also provide a full curriculum of training to understand the nuances of your business. Starting with an overview of Hoist and everything you need to know about us, the training also gives you in-depth knowledge on estimations, sales, domain expertise, and so on. And all of this training is available virtually, which means you can complete it anywhere, anytime, and at your pace.
The first step to registering your company is to, of course, come up with your brand name. Then, you decide on the type of business structure you want to follow. For small businesses, the most common are sole proprietorships, partnerships, and limited liability companies (also known as LLCs, these are private companies with little to no personal liability).
When you partner with Hoist, we will help you create an LLC and design a logo for your brand. Simply provide us with the necessary documents, and we will handle all the busy paperwork of licensing and registration.
Selecting the services you wish to offer will allow you to refine your talents, focus your marketing approach, and avoid promising work that you are unable to do.
Here are some types of painting as well as support services you can offer, depending on your team’s skillset:
Having a target audience or group, or curating a clientele over time can greatly add to your painting business. You can start by deciding if you want to provide painting services for home or business clients. Residential and commercial jobs will have various effects on your company plan and bottom line.
Residential painting clients are easier to find and the work is easier to complete, but you're less likely to earn repeat business. To stay lucrative, you'll need to work hard to build a large customer list. Commercial painting clients are more likely to provide you with repeat business and higher-paying jobs, but income flow is slower. You'll have to spend more on personnel, expenditures, and materials, and you'll be paid less frequently as a result.
Once you have the kinds of services you offer finalized, Hoist can help with finding potential customers and sourcing subcontractors. That way, you can target the right people for the right services, and help you build a crew that fits your needs. Keep reading to find out how exactly Hoist works to make it happen!
First things first when it comes to marketing, you need to establish a channel of communication. The best way, in the digital world of today, is through a website that covers everything about the business. The world runs on the internet, and it’s the fastest way to get in touch with the right people. It can seem a little confusing at first, and it’s no surprise that a lot of people hold back just because they don’t know how to brand themselves on the internet. Well, once you get in touch with Hoist, you don’t need to worry about any of it!
One of the features that you can access through the Hoist platforms is creating your own landing page or website. You can choose from three pre-designed and SEO-optimized templates for your website. You also get the complete freedom to modify the text, images, services, and even structure of your design template and customize it to your liking.
Apart from marketing materials, we also work with you to create your custom brand. This includes designing your brand logo as well as creating branding items like fliers, business cards, and more.
Targeting customers and making profits might seem difficult, but with a little help, and just a little bit of applying yourself, it’s the easiest part! From flyers in your neighborhood or targeted ads on paid platforms like Facebook or Google, there are several proven ways to attract customers or leads. Always keep your eyes peeled when working on these opportunities. Leads can be organically generated from listings on Facebook's marketplace or Instagram stories seeking small businesses. You can also work with your team of sub-contractors, and their former crews of employees to bid for even better deals.
When it comes to lead generation, Hoist is at the top of the game. When a business owner requires a lead generation service, our dedicated team finds multiple leads across platforms like Google, Yelp, and Thumbtack amongst others. Our US-based Agents then contact and schedule appointments with these high-intent leads. The owner only pays for confirmed appointments or converted leads. Any canceled appointment results in a refund from Hoist.
This service, also known as Hoist’s Home Field Advantage, is truly one of a kind and was built entirely based on the business owner’s needs.
Are you accurately estimating your services?
It’s important to remember that making profits largely depends on the estimate.
To estimate correctly, you need to know how much work a project can take, what the market rate is, how much you would need to charge to make a profit and a lot more. To give you a foundational understanding, Hoist’s training modules cover the basics of how to estimate, how to price projects, and a lot more on sales and finances. Through our platform, you can access our partnership with PaintScout, which is easy to use and makes the process of producing a quality estimate effortless and quick.
Once you have your clients in tow, how do you manage them? Well, we did say Hoist could help you every step of the way, and Hoist’s Customer Management tool is designed to help with exactly this.
The customer management feature on Hoist’s platform can help you keep track of everything to do with their customers. From booking appointments to tracking their estimate, the status of ongoing jobs, and their progress, the tool will take care of every need!
Hoist can also help your company identify the recommended service area, which would make your targeting a lot easier.
Apart from this, Hoist also has a schedule management system that is aimed at helping business owners stay on top of the schedule. Synced with commonly used applications such as Google Calendar, it helps track and manage all appointments seamlessly.
Create a business checking account once you've gotten your business legally on the books with the local or state governments. If you don't route your firm's money through a corporate bank account, you risk leaving your personal assets vulnerable if your company goes bankrupt or sued.
When it comes to getting paid for your services, Hoist’s platform offers a paperless and automated workflow to facilitate hassle-free payments. With payment options for every kind of customer, all you need to do is generate and send an invoice through our platform, and customers can simply click on the link they receive to make the payment.
Painting companies may be required to have insurance and license in some areas, but not in others. Even if one or both of these procedures aren't essential, it's usually to your best advantage to do both. Some forms of small company insurance can help protect you and your employees in the event of any workplace accident or financial business risk. Your coverage will be determined by the type of insurance you choose, and there is a range of alternatives available.
You'll need a business license to legally undertake professional painting work in most places. State and municipal governments are usually in charge of enacting and enforcing these policies. As a result, there is no one-size-fits-all solution, as each place is likely to have its own set of restrictions. Before you start working, double-check that you're completely licensed as per the local or state rules.
While it isn’t compulsory to be insured to work with Hoist, we would recommend you get your LLC insured!
Painting supplies may be costly, especially if you're just getting started. However, when seeking additional help, it is important to note that the majority of subcontractors have their own tools. Most beginners make the mistake of investing in a lot of high-end equipment, and then never actually using it. If you do plan to invest in equipment, get a limited quantity of good quality equipment that's built to last, and expand as your business grows!
Partnering with Hoist can give you an added advantage when it comes to painting equipment. We help business owners receive negotiated prices and significant discounts on premium paint products through our partnership with Sherwin-Williams. This substantially cuts down on your startup and equipment costs.
Hoist also extends support in helping you find subcontractors. We can help you find a suitable list of employees or subcontractors for your team and equip you with whatever you might need to run recruitment efforts. Our training models will let you know what you might need to look for in future employees in terms of quality and skill, and how to go about the recruitment process.
One of the advantages of partnering with Hoist is that we’re in for the long haul. That means we don’t just help you launch your business in 30 days, but we also help you in successfully running and growing it.
An important feature that we offer is access to an expert community and user-friendly forum where you can receive support and guidance from other business owners. We also have two business coaches on staff that provide their expertise to help you tackle any problems that might arise when running your business.
Taking the first step to becoming your own boss can be daunting. But with Hoist by your side, starting a business is as easy as it gets. You can start, run, grow and expand your business with 100% control over your entire operation. And you can access all of this at only $667 per month. If this seems like an opportunity you would like to explore, get in touch with us today and let us build something amazing together!
From creating a business plan to estimating your first project, we’ll walk you through the essentials of starting a painting company.
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