How to Start a Painting Business in 7 Steps

Many painters swear by sprayers, particularly for exterior jobs. A well-made airless paint sprayers will start at around $200. Business plans act as an owner’s manual for your business, and are required to obtain financing from a lending institution. Hire a business consultant to help write your plan, or visit the U.S.
If you don’t have time for everything, consider hiring an assistant. You can hire them as an employee or contractor, and they can free up more of your time to paint or communicate with clients. If you can’t decide which is best, use a combination of the two. You might hire one or two full-time employees who you can count on to complete most projects.
Workmens’ compensation, payroll tax, and additional benefits like medical and paid time off will place a bigger financial burden on your company. On the other hand, without the additional help, you may find you cannot scale your business. A bank will require you to have a business plan to acquire a loan.
However, the list can help you give more accurate quotes when bidding for jobs. However, for painting businesses, a focus on either residential house painting or commercial painting is one of the main ways to define who you are in the market. Once you have 2 to 3 years of on-the-job experience behind you, you’ll be ready to start your own business. How much you’ll make owning your own house painting business will depend a lot on how you choose to run your business.
In some states, you might need a contractor’s license to paint houses but in others, you won’t even have to file a license application. learn here of Goods Sold are recouped on each job (assuming the job is profitable), so I did not include them above. Or you can use your accountant that does your monthly bookkeeping. Tax prep will typically be a separate cost and won’t be included in the bookkeeping fee. Expect to pay $500 to $3000 for tax prep if you hire an accountant. You can track every transaction on a spreadsheet if you want to avoid bookkeeping costs.
Maybe you get an influx of clients needing painting work, so you decide to hire a few subcontractors. If you want to make more money from your painting business, you can offer specialized services. Businesses typically have more money to pay for those projects, so you can charge them more.