Ready to start a painting business of your own? It’s a great opportunity to put your business and customer service talents to work and be your own boss.
Painting companies are big business these days. Almost every region of the country is in the midst of a home construction expansion. Home improvement sales show no signs of slowing down and are projected to top $510 billion by mid-decade.
The demand for interior and exterior painting services means starting a painting business now is worth consideration as an investment.
An Option to Start a Painting Business Franchise is Worth Consideration
There are several ways to start a painting company. First decide if you want to open a franchise, buy an existing business or start your own brand.
An investment in a home painting franchise like Teaberry Painting sets you up with an established business model and a framework to mold your own business. You can leverage low initial costs and keep overhead in line as you establish your reputation in your community.
A painting business franchise gives you a chance to learn from business-minded folks who know what it takes to start a painting company from scratch. They understand the risks and know what it takes to manage them.
When you invest in a Teaberry Painting franchise, you tap into a tried-and-tested brand with systems and strategies in place. That’s not something you can find when you try to start a business on your own. Instead of learning everything through trial and error, franchise ownership gives you the keys to a complete set of resources to help you grow from day one.
Start a painting business with a well-defined plan
Think of your painting business plan like a road map. It keeps you focused on where you are going, how to get there and how to overcome barriers along the way.
A clearly defined painting business plan also spells out the purpose of your business. It defines what matters most to you and what motivates everything you do. By knowing why you want to start a painting business, you can gain the energy you need to move forward, even when faced with challenges.
Here are 5 essential sections to include in your painting business plan.
- Describe your business concept. The opportunities with a painting franchise go way beyond another coat of paint on another living room wall. In fact, you don’t have to pick up a paintbrush or climb a ladder to start a painting business.
When you start a painting company, you have a chance to touch every piece of the business. You control everything from revenue generation and overhead expenses to shaping the right customer experience and building loyalty in your community.
- Define your services with a painting business plan. Are you interested in residential and commercial projects to grow your painting contractor business? The spectrum of revenue-generating possibilities ranges from home interior and exteriors to condominium complexes and commercial spaces, such as office complexes, manufacturing facilities and churches.
With a Teaberry Painting franchise, you can take your potential revenue-generating power one step further with add-on services, like drywall repairs, carpentry services, gutter cleanouts and window washing.
- Build a sales and marketing strategy. When you choose a franchise to start a painting business, you can tap into a marketing program to help you build awareness about your services in your community. You may want to extend your marketing strategy by adding ways to reach customers through social media, email or community events
- Prepare an operations plan. A painting business plan for a franchise can include elements from the franchise disclosure document (FDD) and operations documentation. A Teaberry Painting franchise gives you a chance to tap into the power of a tablet-based operating platform that provides an easy way to prepare estimates, set up work orders, schedule projects and build cost analyses.
- Make a financial plan. Add projections for sales revenues, cash flow and income potential to your painting business plan for a franchise. The FDD can be a source of information about the potential performance of your business. You can search through the document to understand your initial investment and ongoing fees. The numbers can guide you on how to refine your sales projections.
Put your painting business plan to work
With your painting business plan as your guide, it’s time to take action and move forward from the idea to the reality of starting a painting business of your own.
Here are key steps to start your painting company and keep your enthusiasm rolling along at full speed.
- Evaluate the brand – know why your painting business stands apart from the competition
- Choose a territory with the right potential for you
- Set up your home office or commercial space with the right tools and resources to operate your business
- Learn service standards and train team members
- Contract with suppliers and vendors
- Market your shop to your local community
Why invest in a painting business franchise?
You can take the hassle out of starting a painting business on your own by investing in a Teaberry Painting franchise. It’s a way to leverage a recognized brand with systems and strategies already in place.
Any franchise opportunity has upfront costs and ongoing expenses. But remember, starting a painting business on your own also costs money. The advantage of going with a franchise business is you know startup and operating costs from the start. That information isn’t as readily available if you choose the DIY path.
Find out how a Teaberry Painting franchise can give you a head start on building a painting business plan that works for you.