How to grow your painting business?
Table of Contents
Insights into a painting business
- Why should you start a painting business?
- Are there any disadvantages of starting a painting business?
According to the government figures, employment opportunities are to grow by 6% between 2022-28. The growth of the painting business is directly related to the growth of the construction industry.
Here are the top 4 reasons why starting a painting business is a good idea:
- Starting a painting business is simple
- Painting is a profitable business
- A painting business requires low investment
- A painting business has a huge market size
- You can start a painting business with very little to no experience
The painting industry has undergone a lot of changes due to higher project prices, virtual estimates, abundant labour supply, etc. Starting a painting business in 2022 can have certain disadvantages.
- A painting business requires a lot of effort
- You might stumble a few times before you succeed
- Higher levels of responsibility required in a painting business might distort your work-life balance.
- It is tough to receive recognition amid high competition in the painting industry.
- The weather might affect your business as painting is often seasonal.
Getting started with a painting business
Below mentioned are the steps required to start a painting business:
- Draft a business plan: It is essential to write a business plan before starting a painting business. The business plan can be either detailed or simple, according to your discretion. It must include the basic elements and have a roadmap to guide you through your business.
- Complete your registration and acquire a licence: Once you have your business plan ready, it’s time for you to register your business and get proper licences. You would also want to purchase insurance to cover you up in case of an accident.
- Open a business bank account: Opening a business bank account ensures that your personal finances are safe in case your business goes downhill.
- Applying for loans: The investment required for starting a painting business is relatively low. If you are not ready to pay for the startup costs in cash, then you can always opt for taking loans for your business. There are many compelling loans available with different interest rates that you might eye for.
Marketing strategies to grow your painting business
Marketing helps scale all types of businesses. A painting business is no exception. Here are certain marketing ideas that can help you grow your painting business.
- Door-door marketing: If you are new to the painting industry, then door-door marketing can be very useful in generating leads for your painting business. You might get 1-2 potential customers every hour with this marketing strategy. Try approaching high-income neighbourhoods that are likely to avail of your services.
- Ask for referrals: Do not shy away from asking for referrals from your existing customers. Build a trustworthy and respectful relationship with your customers. Do not overrate your service. Only promise what you can actually deliver. This might increase your chances of getting a referral. People generally don’t trust new contractors easily, and hence referrals make it easy for you to get new customers.
- Approach lead providers: There are several companies that help generate leads for service-based businesses like painting, carpentry, etc. When clients give their requirements for painting services, they can directly send the information to you. You can either make payments per lead or pay a monthly amount to generate a certain number of leads.
- Install lawn signs: Lawn signs are one of the most effective and practical ways of marketing your painting services. You can take permission from your clients and set up a lawn sign in their garden with your company info so that neighbours and passersby are able to see your work. This is an easy way of getting referrals as people can see both your service information and your work in progress at the same time.
- Flyers: This type of marketing can be a bit expensive for your painting business. But if you still choose to go for this, make sure that the flyers you set up are appealing and uncomplicated. People do not spend much time reading details on flyers. Hence it is important to put only necessary details. The flyers should have powerful call-to-action phrases.
- Mobile truck advertising: Having your company logo and details on a moving truck can attract the attention of passersby while you work. Similar to flyers, the graphics and information on the truck must be simple and attractive.
- Website designing and online advertising: It is very important to have an attractive and informative website of your own. Once you are done with website building, start with advertising your business online. Facebook and Google are two of the best places to advertise your business. Proper attention must be given to search engine optimisation (SEO) for better results.