Have you been toying with the idea of starting your own painting business? Perhaps you’ve had enough of your current career and want to change it up; to take the initiative and build something of your own? Whatever the case, before you can make such a drastic career change, first you need to do some research. Is painting a good business do be in? How do you go about starting your own painting company? And what sort of money should you be charging in the beginning?
In this article, we will answer these questions and more, as we explore the painting profession in greater depth.
Is painting a good business?
In short, yes. As a painter, whether commercial, residential, or industrial, you can make a decent living. In fact, as monotonous as painting walls every day might sound, it is actually an incredibly fun way of making a living.
Some people are forced to sit behind a desk for nine hours in a customer service job, speaking to rude and disgruntled customers all day long. Painters on the other hand, get to spend their days, working independently and waving a brush about. Doesn’t sound so bad right?
But what is most important of all: is painting a good business to be in? Is it a safe and stable industry to pursue? Again, the answer is yes. No matter what, people are still going to need their homes painting, both inside and out. Shop-fronts will always need refitting and bringing back to life. There will always be a need for it, which is precisely why if you are thinking about pursuing painting as a career, that you are on the right track.
A commercial painting contractor can make some serious bank. So, if you want to take it to the next level and paint for businesses, rather than homeowners, then you should do plenty of research on the competition. Who are you competing with?
How do I start a paint company?
Starting a company is actually incredibly straight forward. All you need to do is research your industry, find out all that is required, take comprehensive notes, and tackle each task bit by bit. Before long, you’ll be up and running, independent, and making your money!
- First of all, you need to understand your market. Who are you going after? What are their expectations?
- Try painting a few rooms in your house. Are you any good? Keep practicing! If you want to start a business, you must be competent in this.
- Settle on a solid brand name, get your logo designed, and build a website.
- Register your business with the relevant authorities.
- Get all of the required permits and insurances.
- Open a bank account in your business’s name.
- Setup a book-keeping system (and hire an accountant ASAP).
- Launch your online presence and target local SEO.
- Market to potential clients and spread the word.
How much do I charge for painting?
It’s a good question and one that is very important when first starting out. Of course, you don’t want to undersell yourself, but in the same breath, you don’t want to overcharge either. Finding the right balance is key. To be honest, whether you are experienced or not, you will be better off sticking around the average price mark.
You see, the average cost and quoted rate for standard house painting gigs in Australia, is about $40 per hour (excluding the cost of paint and other required materials). For the smaller jobs, you might be looking at about $35 an hour, whereas the more complex gigs tend to be priced at about $45 an hour.
In any case, between $35 and $45 per hour is where you want to be at in the beginning.
Then again, what you charge is entirely up to you. If you are going to charge an above average rate, then you better be able to deliver the quality.
If on the other hand, if you aren’t feeling confident enough in the beginning to be charging too much, then make sure you factor in all extra costs before you settle on a fixed hourly rate. If you go too low, you’ll risk making no profit at all.
Find the right balance!
We hope that you have found this article inspiring. Whilst it isn’t the most comprehensive guide to starting a new business, it has certainly outlined a few important questions:
- Is painting a good business to be in? YES!
- How do I start a painting company? With relative ease (just follow the steps and take your time)!
- How much should I charge? Stick with the averages while you find your feet!
If you’d like to get an idea as to how some established and reputable painting companies are running things, check out Platinum3Painting.com.au. This should give you some inspiration as to how your website should look etc.