A painting business can be very profitable, or those with the resources and discipline to make a go. We’ll outline a few steps in this article to help you start your own painting business.
Step 1: Start by securing $10,000 in start-up. If you lack these types of funds, you should look through your local bank for a silent partner, backer, or application for a production loan. If you go to a bank, make sure you have a pat down your business plan and dress professionally.Learn more about this at PMV Custom Finishes – Kalamazoo Painting Contractors.
Step 2: It is important to keep track of employee payments, credit card accounts, advertisements, proposals and expenses on a basic laptop. This will enable you to take care of matters relating to industry on the road or on the job site. Furthermore, there are many different types of software which will do all these things for you. Go down to your local computer store and assess options.
Step 3: Head down to your local court and purchase a licence for a small business. Some states require the owner of the firm to buy a licence, while others require that the contractor pass a series of tests. Check the business regulations in your states to find out more about your specific needs.
Step 4: Buy approximately one million dollars of insurance and cover your truck or can cover yourself through the same industry. Make sure you ‘re using a local company that takes the time to get to the site and view any claim you may have. The more familiar the firm is to the customers, the more likely it will be that you will get the job.
Step 5: Contact a business lawyer with respect to becoming incorporated. This serves you by way of only those earned by the corporation if your painting company becomes involved in a lawsuit, that the other party will not be able to go after your personal assets.
Step 6: Take a trip to your local paint supply shop under the company name and open credit accounts. Buy materials on your card and get them paid off every month. This will act as a way of building credit for your company.