Setting basic goals will help a painting business survive.
A painting business, like any other business, must apply for a license and tax ID number and get insurance. Also, it is crucial to set appropriate goals and objectives. For a painting business, three basic goals and objectives will bring success.
Marketing
New business owners are one group that should be targeted.
Create a unique company name and circulate it among prospective clients via both word of mouth and advertising. Flyers, newspapers and radio and television are all common marketing tools. Community newspapers, free newspapers, trade journals and business journals are all good options because they reach several groups, from homeowners to new businesses. Find residential paint jobs through regular newspaper advertising; find commercial jobs through business journal advertisements. Also, send press releases. Perhaps a media outlet will do a story. Craig's List is another good way to market a painting business.
Cost
Overhead costs should be low.
Keep your costs low. You are providing a service; thus, the customer's bill should include both tool and product expenses, including paint, brushes, rollers, tape, extra drop cloths and more. Ladders, scaffolding or other tools used on multiple jobs come out of your budget. Ideally, marketing is your company's biggest expense.
Good Product
Painting business need to remember their product and make sure painting is done well.
Do solid, professional work in a timely manner. If you don't, you will not have a profitable business, no matter how good a marketing job you do. Your finished product is what will cause clients to spread a positive report around town. Also, good customer service will help a painting business receive more jobs. Communicate well with your clients so they understand their money is well spent. Let them know exactly what steps you will take to finish the job and how much time it will take. Address any concerns and let them know they can ask questions as your work progresses.
