business plan for a painting business

Painting Business Plan Template

Written by Dave Lavinsky

Painting Business Plan

You’ve come to the right place to create your Painting business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Painting businesses.

Below is a template to help you create each section of your Painting business plan.

Executive Summary

Business overview.

O’Reilly Brothers House Painting is a new residential painting business located in Peoria, Illinois. We paint both interiors and exteriors of houses and apartments and offer free color and project consultations. At O’Reilly Brothers, we know that a person’s home is their place for rest and relaxation at the end of a long day. Therefore, it’s essential that we provide the best painting services possible to ensure our customers’ homes look their best. Our mission is to provide these quality services while maintaining lifelong relationships with our clients.

O’Reilly Brothers House Painting is led by Luke and Samuel O’Reilly. These two brothers have worked as contractors and painters for other companies and have built up a loyal client base over the years. After having disappointing experiences with their prior employers, the two brothers decided to work together to start a painting business that is founded on affordable pricing and client-oriented service. Their experience, education, and pre-existing client base will ensure that O’Reilly Brothers House Painting is a success.

Product Offering

O’Reilly Brothers House Painting offers residential painting services to the residents of Peoria, Illinois. These services include:

• Interior painting
• Exterior painting
• Cabinetry painting
• Ceiling painting
• Door refinishing
• Free color consultations

Customer Focus

O’Reilly Brothers House Painting will primarily serve homeowners and landlords in Peoria, Illinois. The Peoria area has a booming population, with thousands of people who own their own homes. Peoria also has a large population of middle and upper-class residents who have the disposable income to invest in painting services. Therefore, we have a large target demographic to work with and are sure to be successful in this industry.

Management Team

O’Reilly Brothers House Painting is led by Luke and Samuel O’Reilly. Both brothers have extensive experience as contractors and painters, having worked for local competitors for several years. Both had disappointing experiences with their prior employers, as the companies charged high fees and were not committed to providing excellent client-oriented services. These experiences led the brothers to plan their own business that would provide better quality services at a more affordable price. The experience and expertise of Luke and Samuel will be the company’s most valuable assets.

Success Factors

O’Reilly Brothers House Painting will be able to achieve success by offering the following competitive advantages:

• O’Reilly Brothers is led by two professional contractors who have considerable experience in the residential painting industry.
• O’Reilly Brothers will have a full staff of friendly and qualified painters who will provide the best painting services in the area.
• O’Reilly Brothers will offer all of its services for a moderate price.

Financial Highlights

O’Reilly Brothers House Painting is currently seeking $425,000 to launch. The funds will be used for funding capital expenditures, salaries, marketing expenses, and working capital. Specifically, these funds will be used as follows:

• Store design/build: $100,000
• Vehicle purchase and maintenance: $100,000
• Equipment and initial supplies: $100,000
• Three months of overhead expenses (payroll, rent, utilities): $75,000
• Marketing costs: $25,000
• Working capital: $25,000

The following graph below outlines the pro forma financial projections for O’Reilly Brothers House Painting.

Company Overview

Who is o’reilly brothers house painting.

O’Reilly Brothers House Painting is a new residential painting business located in Peoria, Illinois. We can paint any room or part of a house or apartment, including interiors, cabinetry, and exteriors. Our company is committed to providing quality painting services for a cost that anyone can afford. O’Reilly Brothers House Painting strives to be the best painting business in the area, focusing on customer service and maintaining long-term relationships.

  At O’Reilly Brothers House Painting, we believe that every customer deserves to live in their dream home. Our expert painters will work with customers to design and create the perfect spaces that will make their current home their dream home. With years of experience, we can take on any painting project and create any space that our customers desire.

O’Reilly Brothers House Painting’ History

Luke and Samuel O’Reilly recently began researching what it would take to incorporate their business and expand their client base. They have analyzed the costs, market, demographics, and local competition. They compiled enough information to develop their business plan in order to approach investors.

Once their research was complete, Luke and Samuel incorporated O’Reilly Brothers House Painting on May 1st, 2023 as an S-Corporation. The business is currently being run out of Luke’s home, but once the lease on O’Reilly Brothers House Painting’s office location is finalized, all operations will be run from there. Luke and Samuel are currently using a personal vehicle to drive to clients’ homes but will purchase a vehicle that will be used specifically for the business.

Since incorporation, the company has achieved the following milestones:

• Found a commercial space and signed a Letter of Intent to lease it.
• Developed the company’s name, logo, and website.
• Planned the suite of services to be offered.
• Determined equipment, supplies, and materials needed.
• Begun recruiting key employees.

O’Reilly Brothers House Painting’ Services

O’Reilly Brothers House Painting will offer a suite of residential painting services to the residents of Peoria. Whether our customers need one room painted or their entire home, they can expect quality work and customer service every step of the way. Below is a list of our painting services:

Industry Analysis

The residential painting industry provides painting services to recolor houses and apartments. This market is typically segmented into interior house painting and exterior house painting services. The market can be further segmented into painting services for new homes vs repainting services. Painting businesses can stand out in the market by providing all of these services.

In recent years, the market has been negatively affected by COVID. Many people lost their jobs, so they did not have the extra income needed to spend on painting or other contractor work. However, the industry has been making a comeback since the pandemic ended. The unemployment rate has lowered significantly, meaning many people have disposable income for contractor services again. Furthermore, the housing boom in 2021 has led to many new homeowners needing painting and other contracting services. As such, there is a large demand for residential painting services once again.

According to OpenPR, the global home painting market is expected to grow at a CAGR of 5.8% from now until 2030. This is solid growth that shows that the industry is bouncing back and thriving once again. Therefore, this is the perfect time to start a new painting business.

Customer Analysis

Demographic profile of target market, customer segmentation.

O’Reilly Brothers House Painting will primarily target the following customer profiles:

Competitive Analysis

Direct and indirect competitors.

O’Reilly Brothers House Painting will face competition from other companies with similar business profiles. A description of each competitor company is below.

Riverside Commercial Painting

Riverside Commercial Painting has been one of the most popular commercial painting businesses in the area since it was established in 1985. This company helps offices and other establishments update their spaces by providing repainting and other interior design services. They have many loyal clients and showcase a large gallery of previous projects on their social media. Many businesses have sworn by Riverside’s services, and the company’s reputation has skyrocketed simply through word-of-mouth marketing.

Though Riverside Commercial Painting will continue to thrive, the company only provides commercial painting services and, therefore, will be a minor competitor for O’Reilly Brothers House Painting.

River City Painting Inc.

River City Painting Inc. has been a small yet profitable residential painting business for over a decade. This small company provides a variety of residential painting services, including painting ceilings, interiors, cabinetry, and exteriors. Though they are small and have limited resources, River City Painting Inc.’s team has still managed to gain a great reputation for their friendly customer service and the professional quality of their work.

Though River City Painting Inc. has gained a positive reputation, its scope of work remains small, even after a decade. They can only help with small projects and generally don’t sign up for larger-scale services. As O’Reilly Brothers House Painting grows, we will take on larger projects and aim to be the primary painting company that the residents of Peoria can rely on.

Painting And More LLC

Established in 2001, Painting And More LLC set out to be the best residential painting business in the area. Painting And More has achieved this goal, as the company is consistently given positive reviews and is usually the first painting service residents think of when they need a painting job done. Customers working with Painting And More can expect high-quality painting work paired with excellent customer service. Their popularity and success make Painting And More our biggest competitor.

Competitive Advantage

O’Reilly Brothers House Painting will be able to offer the following advantages over their competition:

• Customer Focus : O’Reilly Brothers House Painting’s painters will provide the highest quality customer service focused on transparency, communication, and responsiveness. Clients can expect this level of service throughout the entire process, from the initial inquiry to the follow-up once the project is completed.
• Management : Luke and Samuel O’Reilly have been extremely successful working in the painting industry and will be able to use their previous experience to help clients with whatever they need. Their unique qualifications will serve customers in a much more sophisticated manner than many of their competitors.
• Relationships : Having lived and worked in the community for decades, Luke and Samuel know many of the local residents and have already established a loyal clientele from their years of working in the industry. These relationships will provide the company’s initial clientele and help our business through word-of-mouth marketing.

Marketing Plan

Brand & value proposition.

O’Reilly Brothers House Painting will offer a unique value proposition to its clientele:

• Client-focused painting services, where the company’s interests are aligned with the customer.
• Service built on long-term relationships and personal attention.
• Professional industrial experience in a small business setting.

Promotions Strategy

The promotions strategy for O’Reilly Brothers House Painting is as follows:

Social Media Marketing

Social media is one of the most cost-effective and practical marketing methods for improving brand visibility. O’Reilly Brothers House Painting will use social media to develop engaging content in terms of sharing color and design ideas and posting customer reviews that will increase audience awareness and loyalty.

Word of Mouth Marketing

O’Reilly Brothers House Painting will encourage word-of-mouth marketing from loyal and satisfied clients. The company will use recommendations and word-of-mouth marketing to grow its customer base through the network of its existing customers.

Website/SEO

O’Reilly Brothers House Painting will invest in developing a professional website that displays all of the services offered by the company. It will also invest in SEO so that the company’s website will appear at the top of search engine results.

Advertisement

Advertisements in print publications like newspapers, magazines, etc., are an excellent way for businesses to connect with their audience. O’Reilly Brothers House Painting will advertise its company offerings in popular magazines and news dailies. Obtaining relevant placements in industry magazines and journals will also help in increasing brand visibility.

O’Reilly Brothers House Painting’s pricing will be estimated on a project basis drawing on Luke O’Reilly’s deep expertise in painting services. The pricing will be determined by the size of the job, the amount of paint needed, and the labor required to complete the job. Pricing will be moderate and less expensive than our competitors but more expensive than lower-quality, efficiency-driven painting businesses.

Operations Plan

The following will be the operations plan for O’Reilly Brothers House Painting. Operation Functions:

• Luke and Samuel O’Reilly will be the co-owners of O’Reilly Brothers House Painting. They will oversee the general operations of the company and manage the staff. They will also conduct all work on the painting projects for their clients until they can hire several more painters to keep up with demand. Luke and Samuel will hire the following staff over the next few months:
• An Administrative Assistant who will manage all the administrative tasks.
• An Accountant who will manage all client invoicing, billing, and payables.
• A Marketing Manager to manage all of the marketing and advertising functions.
• Several painters who will provide painting services and customer service.

Milestones:

O’Reilly Brothers House Painting will have the following milestones completed in the next six months.

• 06/2023 Finalize lease agreement
• 07/2023 Design and build out O’Reilly Brothers House Painting
• 08/2023 Hire and train initial staff
• 09/2023 Kickoff of the promotional campaign
• 10/2023 Launch O’Reilly Brothers House Painting
• 11/2023 Reach break-even

Luke and Samuel have worked in the industry long enough to gain an in-depth knowledge of the business, including the operations side (e.g., running day-to-day operations) and the business management side (e.g., staffing, marketing, etc.). They will hire several other employees to help run the parts of the business that they are unfamiliar with.

Financial Plan

Key revenue & costs.

O’Reilly Brothers House Painting’s revenue will primarily come from charging homeowners for completed painting services. Pricing will be determined by the size of the room, the amount of paint needed, and the amount of time it takes for our painters to complete the job.

The main cost drivers for O’Reilly Brothers House Painting will include labor expenses, materials and equipment, marketing, and the lease for the office space.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and pay off the startup business loan.

• Number of clients:
• Year 4: 120
• Year 5: 150
• Annual lease: $30,000
• Annual maintenance expenses: $10,000

Financial Projections

Income statement, balance sheet, cash flow statement, painting business plan faqs, what is a painting business plan.

A painting business plan is a plan to start and/or grow your painting business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Painting business plan using our Painting Business Plan Template here .

What are the Main Types of Painting Businesses? 

There are a number of different kinds of painting businesses , some examples include: Residential Painting, and Commercial Painting.

How Do You Get Funding for Your Painting Business Plan?

Painting businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Painting Business?

Starting a painting business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Painting Business Plan - The first step in starting a business is to create a detailed painting business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast. 

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your painting business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your painting business is in compliance with local laws.

3. Register Your Painting Business - Once you have chosen a legal structure, the next step is to register your painting business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your painting business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.

7. Acquire Necessary Painting Equipment & Supplies - In order to start your painting business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your painting business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful painting business:

• How to Start a Painting Business

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Painting Contractors Business Plan

Start your own painting contractors business plan

Barnum Painters

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.

Barnum Painters will provide top-quality interior and exterior residential and commercial painting services. The principal officers of Barnum Painters believe that most companies in this industry suffer two major problems. These are poor scheduling of job projects and poor retention of quality employees. Both lead to lower customer satisfaction, lack of repeat business and a low word-of-mouth referral rate. Barnum Painters believes that by implementing this contractor business plan, it can improve upon and exploit these weaknesses to gain local market share.

The objectives for Barnum Painters over the next three years are:

• To achieve sales revenues of approximately $620,000 by year three.
• To achieve a customer mix of 30% commercial/60% residential building contracts per year.
• To expand operations to include all the Greater Seattle area including Kirkland, Renton and the Kitsap Peninsula.

The company will seek to provide its painting services in the most timely manner and with an ongoing comprehensive quality-control program to provide 100% customer satisfaction. The company’s principal officers see each contract as an agreement not between a business and its customers, but between partners that wish to create a close and mutually-beneficial long-term relationship. This will help to provide greater long-term profits through referrals and repeat business.

Barnum Painters will institute the following key procedures to reach its goals:

• Create a position of inventory coordinator, and have at least one expediter assigned to each project.
• Have a dedicated project manager for each project who can handle quality-control issues.
• Institute a program of profit sharing among all employees.

Barnum Painters is a start-up limited liability company consisting of three principal officers with combined industry experience of 40 years. Barnum Painters will be a partnership between Mr. William Barnum, Mr. Anthony Barnum and Mr. Michael Kruger. The principals will be investing significant amounts of their own capital into the company and will also be seeking a loan of $7,000 to cover start-up costs and future growth. Finally, the company has procured a $10,000 line of credit (not shown on financial statements) that will be used if necessary to cover unforeseen expenses or opportunities.

Barnum Painters will be located in a rented suite in the Rucker Industrial Park on 710 Snoquamie Route, Suite 250 in Edmonds, WA. The facilities will include a reception area, offices for the principals, storage area for inventory, and employee lounge. Barnum Painters offers a wide variety of services primarily focused on interior and exterior residential and commercial painting. The firm also provides such services as drywall plastering, acoustical ceilings, pressure washing, and others. The idea is to provide clients with a broad range of related services that will minimize their need to employ a variety of contractors.  Barnum Painters will engage in a low-cost leadership strategy while maintaining a suitable level of quality.

Initially the company will focus on residential and commercial customers in the Everett, Washington area. However, by the end of the three-year projections, the company expects to be serving the entire Puget Sound area. The company has rigorously examined its financial projections and concluded that they are both conservative in profits and generous in expenditures. This was done deliberately to provide for unforeseeable events. The company’s principals believe that cash flow projections are realistic.

Keys to Success

The principal officers of Barnum Painters have had many years of experience in the contracting business. They believe that most companies in this industry, which includes painting contractors, suffer from two major problems that Barnum Painters can improve upon and exploit.

The first problem comes from scheduling of jobs. Many painting contractors find it difficult to maintain established schedules with their customers that lead to a decrease in customer satisfaction and retention. This is caused by poor management, less than reliable employees, and delays in inventory procurement and distribution. The second problem is in retaining reliable and motivated personnel. Many painting companies rely on temporary or transient employees that lead to high turnover rates and decreased service quality.

Barnum Painters will institute the following key procedures:

• Creation of a position of inventory coordinator and have at least one expediter assigned to each project.
• Have a dedicated project manager for each project who can handle quality control issues.

The mission of Barnum Painters is to provide top-quality interior and exterior residential and commercial painting services. The company will seek to provide these services in the most timely manner and with an ongoing comprehensive quality control program to provide 100% customer satisfaction. The company’s principal officers see each contract as an agreement not between a business and its customers, but between partners that wish to create a close and mutually beneficial long-term relationship. This will help to provide greater long-term profits through referrals and repeat business.

The objectives for Barnum Painters over the next three years is to:

• Achieve sales revenues of approximately $450,000 by year three.
• Achieve a customer mix of 30% commercial/60% residential building contracts per year.
• Expand operations to include all the Greater Seattle area including Kirkland, Renton and the Kitsap Peninsula.

Company Summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">

Barnum Painters is a start-up limited liability company consisting of three principle officers with combined industry experience of 40 years. The company was formed to take advantage of the perceived weakness and inadequacies of other regional companies in terms of quality and customer satisfaction. Barnum Painters will be a partnership between Mr. William Barnum, Mr. Anthony Barnum and Mr. Michael Kruger. The principles in the company will be investing significant amounts of their own capital into the company and will also be seeking a loan to cover start-up costs and future growth.

Barnum Painters will be located in a rented suite in the Rucker Industrial Park on 710 Snoquamie Route, Suite 250 in Edmonds, WA. The facilities will include a reception area, offices for the principals, storage area for inventory, and employee lounge.

The company plans to use its existing contacts and the combined customer base of Mr.’s Barnum and Kruger to generate short-term residential contracts. Its long-term profitability will rely on focusing on commercial contracts that will be obtained through strategic alliances and a comprehensive marketing program.

Company Ownership

Barnum Painters is a privately owned limited liability partnership with each of the principal officers holding an equal share in the company.

Start-up Summary

The following table and chart show the start-up costs for Barnum Painters.

Company Locations and Facilities

Barnum Painters offers comprehensive interior and exterior painting services for both the residential and commercial markets.

Service Description

Barnum Painters services include:

• Full prep work.
• Dry wall contouring.
• Fine detailing.
• Small carpentry work.
• Specialty wall coatings.
• Refinishings.
• Acoustical ceilings.
• Pressure washing/roof cleaning.

Each project is customized to the wants and needs of the client. Prices are determined by the scope of the project, materials needed, wear and tear on equipment and required profit margin.

Competitive Comparison

The contracting and painting market is very competitive. The barriers to entry and exit in this market are very low making this an industry with a large number of rival firms with high turnover rates. Buyers have a significant amount of power since they have a large number of companies to choose from. Moreover, services are undifferentiated, which means that customer loyalty is usually low. Painting companies must compete on quality and timeliness of service, customer relations, and price.

Barnum Painters believes that it can improve on the quality and timeliness of services in this industry by instituting procedures that will avoid many of the mistakes that other firms make. This includes delayed schedules and high employee turnover which leads to lower service quality. The company will be equally competitive in price and will maintain close ties with its clients throughout the entire project since each project is a customized job. Through these steps, Barnum Painters will be able to build up a reputation of better quality service at competitive prices than its competitors.

Market Analysis Summary how to do a market analysis for your business plan.">

Barnum Painters will focus on two markets within the industry, the residential segment (including apartment buildings) and the commercial segment (including buildings used for professional purposes).

The commercial market requires the shortest amount of time to completion of projects and usually the least amount of customization. Since our projects impinge upon a business’ profitability, it is absolutely crucial for our project foremen to maintain schedule and keep the stakeholders apprised of the project’s progress.

Although the above is also true for the residental owner, time is not as critical, quality and meeting the needs/wants of the client come first in the residential segment. The client is often willing to wait a little longer to have the project done to his/her specifications. The project foremen must be willing to be more flexible and willing to listen to the client.

Over the past decade a number of new trends have been observed in this industry. This includes the tremendous growth of the economy, the high technology boom, and the growth of substitute services such as Home Depot.

Market Segmentation

Barnum Painters will focus on two markets within the industry, the residential segment (including apartment buildings) and the commercial segment which includes buildings used for professional purposes. The company can handle any size building that needs its services. It is the goal of the company to eventually have approximately one-third of all business coming from the commercial segment, since this generates the greatest cash flow. Furthermore, this segment has the lowest percentage of variable costs. The residential segment is considered to be the company’s cash cow. Even during the slow winter months, the company can expect to have a small number of residential contracts.

Initially the company will focus on the two segments in just the Everett, Washington area. However, by the end of the three year projections, the company expects to be serving the entire Puget Sound area.

Target Market Segment Strategy

Each of the two market segments has differing needs and trends. The following sections go into detail about how the company will fact them.

Market Trends

Over the past decade a number of new trends have been observed in this industry. The tremendous growth of the economy has fueled the painting contractors industry as well, as people have progressively spent more and saved less. The high technology boom has created great opportunities in the Pacific Northwest which the industry has also benefited from. However,  the growth of firms such as Home Depot, which encourages do-it-yourself painting and construction, has lead to a serious decline in sales for the residential segment. The growth of this trend poses a significant threat to the industry. Barnum Painters plans to increasingly focus on the commercial segment as the company grows in order to promote greater revenue and income.

Service Business Analysis

Most of the industry analysis is contained in the Competitive Comparison section to give the reader the idea of the competitive nature of the industry, its opportunities and threats, and the company’s flexibility in pricing. Barnum Painters exists in a purely competitive market that faces virtually unlimited competition and high demand. The ability of the company to differentiate its services or enter into a niche market is limited. The company will engage in a low-cost leadership strategy while maintaining a suitable level of quality.

In the painting contracting industry, there are a limited number of large firms that compete for the largest projects, and a vast number of smaller companies that fight for all the rest. Within the largest company section, market consolidation is always a threat.

Competition and Buying Patterns

This industry is highly seasonal. The busiest times are during the summer months where it is easy for a company to become so engaged that it must turn down contracts. During the winter months businesses must focus on marketing to get any contracts at all.

Main Competitors

The main competitors for Barnum Painters include Kolby and Wilson, DMB Enterprises, Sun Painting, and Milbrant Commercial Painters.

Each of these competitors is able to achieve a high degree of profitability through marketing, volume or high-end contracts. They pose a significant threat to Barnum Painters because of their deep pockets and their desire to acquire other painting competitors. Barnum Painters will compete with these rivals through the use of greater marketing and better service.

Strategy and Implementation Summary

As stated before, the company will focus on greater service through better scheduling, project management, and greater alignment of personnel by providing profit sharing. The company is seeking to use the most up-to-date communications and scheduling technology between the project manager, foreman, suppliers, and operations personnel to insure that deadlines are met. Furthermore, the company will seek to create a reliable pool of individual painters to draw upon and eventually hire all the painters full time with salary and other compensation.

The company also plans to carry out an agressive marketing plan starting in year three. This includes literature, TV, radio, billboards and strategic alliances with other large contractors that do not have their own painting services. These companies include Marble Construction, Talbot Construction and Burns & Associates.

Marketing Strategy

The following sections detail the marketing strategy for Barnum Painters.

Promotion Strategy

Pricing strategy.

The company will price each project based on time, material, and a flat 5-10% profit margin, depending on the segment. In the first year or two, depending on sales, the company will focus more on getting the contracts than on maintaining its pricing structure. Therefore, profit margin may be a little low for the first year or two.

Sales Strategy

Sales forecast is based on the existing client base of the three principal officers of the company and their ability to generate new sales based on their contacts. By bringing together Mr. Kruger’s commercial painting experience and Mr. Barnum’s residential experience, the company will be able to generate sales in both areas. Furthermore, the company’s growing marketing program will generate the growth the company needs to survive.

Sales Forecast

See Sales Strategy.

Strategic Alliances

The company is currently in negotiations to form a strategic alliance with an undisclosed large contractor company. The agreement will be that Barnum Painters will provide all the painting needs that the contractor’s clients require and vice versa. The company will seek further alliances as situations develop. The company will seek only those contractors that have high standards of customer service and retention.

Management Summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">

Management consists of three individuals who have extensive experience in the painting contractors industry. These are William Barnum, Anthony Barnum, and Michael Kruger. Each individual brings a unique outlook and skill set that will help drive sales and profits.

The president and head of operations of Barnum Painters will be Mr. William Barnum, the head of inventory, expediter and Q&A will be Mr. Kruger and the person in charge of sales and contracting will be Mr. Anthony Barnum.

Organizational Structure

The company will follow a hierarchical structure with Mr. William Barnum at the top as president and Mr. Anthony Barnum and Mr. Michael Kruger as department heads. The sales and contracting department along with inventory, expediters, and Q&A will consist of only those individuals until such time as growth of the company will require more people. This is anticipated to occur in year three to five.

Management Team

Mr. William Barnum has been in the painting industry working with residential owners for 15 years. He initially started off with B&B contractors as a carpenter and painter and worked with various companies for the next ten years. Desiring to own his own company, Mr. Barnum attended Puget Sound University where he got his B.S. in business. He then worked for Star Painters as a project manager and financial analyst.

Mr. Anthony Barnum started out working with painting and contracting companies while attending college. He has a B.S. in communications from Washington State University. He has eight years experience in sales.

Mr. Michael Kruger has worked in the painting industry for 20 years as a contractor, project manager and owner of Kruger Enterprises. He has extensive experience in bidding and completing commercial painting projects.

Personnel Plan

The following table is the personnel plan for Barnum Painters.

Financial Plan investor-ready personnel plan .">

The following sections will outline the Financial Plan of Barnum Painters.

Important Assumptions

The following table shows the General Assumptions for Barnum Painters.

Key Financial Indicators

The chart below shows the Benchmarks for Barnum Painters.

Break-even Analysis

The Break-even Analysis gives the reader an idea of how many projects Barnum Painters must bid for, prep, paint and complete each month to cover costs. Because Barnum Painters is providing a customized service with many projects having unique requirements, the estimates of revenue and cost are somewhat arbitrary. Furthermore, the company experiences a high degree of seasonality in its contracts which may result in a number of unprofitable months during the late fall, winter and early spring periods.

Fixed costs are based on running costs estimated by the officers of the company and  include payroll for all employees. Variable costs are based on a 26% estimate of the average sales per unit. The average revenue estimate is based on the consensus of the principal officers who have had many years of experience in the industry and on the realistic assumption of the types of contracts the company will get in the beginning and the requirements needed to complete such projects.

Projected Profit and Loss

The following table and chart shows the projected Profit and Loss for Barnum Painters.

Projected Cash Flow

The following table and chart is the Cash Flow for Barnum Painters.

Projected Balance Sheet

The following table presents the Balance Sheet for Barnum Painters.

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Painting Business Plan

Painting is a business that never goes off-trend. There will always be homes and offices that need renovation and some painting magic. So, it is a profitable business option for anyone ready to get into this colorful affair.

Your industry expertise and painting knowledge may help you get started with a new business, but you need a detailed business plan to succeed.

Need help writing a business plan for your painting business? You’re at the right place. Our painting business plan template will help you get started.

Free Business Plan Template

Download our free business plan template now and pave the way to success. Let’s turn your vision into an actionable strategy!

• Fill in the blanks – Outline
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How to Write a Painting Business Plan?

Writing a painting business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the entire business plan is ready and summarizes each section of your plan.

Here are a few key components to include in your executive summary:

Introduce Your Business:

• This section may include the name of your painting business, its location, when it was founded, the type of painting business (E.g., commercial painting, residential painting, industrial painting), etc.

Market Opportunity:

Products and services:.

• For instance, interior painting, exterior painting, and maintenance & repair can be included as services, and specialty finishes and pressure washing can be some of your USPs.

Marketing & Sales Strategies:

Financial highlights:, call to action:.

Ensure your executive summary is clear, concise, easy to understand, and jargon-free.

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2. Business Overview

The business overview section of your business plan offers detailed information about your company. The details you add will depend on how important they are to your business. Yet, business name, location, business history, and future goals are some of the foundational elements you must consider adding to this section:

Business description:

• Residential painting
• Commercial painting
• Industrial painting
• Decorative or specialty painting
• Exterior painting
• Describe the legal structure of your painting company, whether it is a sole proprietorship, LLC, partnership, or others.
• Explain where your business is located and why you selected the place.

Mission statement:

Business history:.

• Additionally, If you have received any awards or recognition for excellent work, describe them.

Future goals:

This section should provide a thorough understanding of your business, its history, and its future plans. Keep this section engaging, precise, and to the point.

3. Market Analysis

The market analysis section of your business plan should offer a thorough understanding of the industry with the target market, competitors, and growth opportunities. You should include the following components in this section.

Target market:

• For instance, residential homeowners, commercial property owners, and real estate agents/developers can be an ideal target audience for a general painting business.

Market size and growth potential:

Competitive analysis:, market trends:.

• For instance, tech-driven solutions like virtual consultation and 3D visualization are becoming the norm, explain if you have any plans on implementing these technologies into your business.

Regulatory environment:

Here are a few tips for writing the market analysis section of your commerical or house painting business plan:

• Conduct market research, industry reports, and surveys to gather data.
• Provide specific and detailed information whenever possible.
• Illustrate your points with charts and graphs.
• Write your business plan keeping your target audience in mind.

4. Products And Services

The product and services section should describe the specific services that will be offered to customers. To write this section should include the following:

Painting services:

Mention the painting services your business will offer. This list may include services like,

• Interior painting
• Deck and fence painting
• Specialty coating
• Paint/coating removal, and more.

Describe each service:

• The color consultation service, for instance, provides expert advice and guidance on choosing the right colors, finishes, paints, coatings, etc.

Quality assurance:

• This may include overseeing the inspection and preparatory processes, choosing materials wisely, quality control checks, following industry standards, etc.

Additional services:

In short, this section of your painting plan must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

Unique selling proposition (USP):

• For example, specialized expertise, high-quality workmanship and competitive pricing could be some of the great USPs for a general painting company.

Pricing strategy:

Marketing strategies:, sales strategies:, customer retention:.

Overall, this section of your painting business plan should focus on customer acquisition and retention.

Have a specific, realistic, and data-driven approach while planning sales and marketing strategies for your painting business, and be prepared to adapt or make strategic changes in your strategies based on feedback and results.

6. Operations Plan

The operations plan section of your business plan should outline the processes and procedures involved in your business operations, such as staffing requirements and operational processes. Here are a few components to add to your operations plan:

Staffing & training:

Operational process:, equipment & machinery:.

• Explain how these pieces of equipment help you maintain quality standards and improve the efficiency of your business operations.

Adding these components to your operations plan will help you lay out your business operations, which will eventually help you manage your business effectively.

7. Management Team

The management team section provides an overview of your painting business’s management team. This section should provide a detailed description of each manager’s experience and qualifications, as well as their responsibilities and roles.

Founder/CEO:

Key managers:.

• It should include, key executives, senior management, and other department managers and supervisors involved in the business operations, including their education, professional background, and any relevant experience in the painting industry.

Organizational structure:

Compensation plan:, advisors/consultants:.

• So, if you have any advisors or consultants, include them with their names and brief information consisting of roles and years of experience.

This section should describe the key personnel for your painting services, highlighting how you have the perfect team to succeed.

8. Financial Plan

Your financial plan section should provide a summary of your business’s financial projections for the first few years. Here are some key elements to include in your financial plan:

Profit & loss statement:

Cash flow statement:, balance sheet:, break-even point:.

• This exercise will help you understand how much revenue you need to generate to sustain or be profitable.

Financing needs:

Be realistic with your financial projections, and make sure you offer relevant information and evidence to support your estimates.

9. Appendix

The appendix section of your plan should include any additional information supporting your business plan’s main content, such as market research, legal documentation, financial statements, and other relevant information.

• Add a table of contents for the appendix section to help readers easily find specific information or sections.
• In addition to your financial statements, provide additional financial documents like tax returns, a list of assets within the business, credit history, and more. These statements must be the latest and offer financial projections for at least the first three or five years of business operations.
• Provide data derived from market research, including stats about the painting industry, user demographics, and industry trends.
• Include any legal documents such as permits, licenses, and contracts.
• Include any additional documentation related to your business plan, such as product brochures, marketing materials, operational procedures, etc.

Use clear headings and labels for each section of the appendix so that readers can easily find the necessary information.

Remember, the appendix section of your painting business plan should only include relevant and important information supporting your plan’s main content.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

This sample painting business plan will provide an idea for writing a successful painting plan, including all the essential components of your business.

After this, if you still need clarification about writing an investment-ready business plan to impress your audience, download our painting business plan pdf .

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Frequently asked questions, why do you need a painting business plan.

A business plan is an essential tool for anyone looking to start or run a successful painting business. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your painting company.

How to get funding for your painting business?

There are several ways to get funding for your painting business, but self-funding is one of the most efficient and speedy funding options. Other options for funding are:

Small Business Administration (SBA) loan

Crowdfunding, angel investors.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your painting business?

There are many business plan writers available, but no one knows your business and ideas better than you, so we recommend you write your painting business plan and outline your vision as you have in your mind.

What is the easiest way to write your painting business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any painting business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software.

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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There are few certainties in life besides death, taxes, and the inevitability of home renovations, which may be good news for you if you’re looking to start your own business. If you watch home improvement shows long enough, you’ll see that a fresh coat of paint can do wonders for a home.

Not everyone has the patience or skill with a brush to do the job on their own, however. That’s why learning how to start a painting business can be a great opportunity to be your own boss and unleash your inner designer.

Whether you’re a seasoned entrepreneur or a first timer, starting a painting business can come with plenty of questions and considerations—some of which are unique to working in the home renovation industry. Some people start a painting business with little more than brushes, ladders, and a vehicle to carry it all. That isn’t necessarily the best move, however, as there are a heap of small business finances and licenses that you might need to keep your business above board (and, most importantly, protected against accidents).

Determining how to start a painting business doesn’t need to be a challenge, but there are a few considerations that you’ll have to address before hanging your shingle, throwing on your painter’s cap, and getting down to work. We’ll help you navigate the process of registering your business, setting up a business bank account, figuring out what licenses and insurance you need, and how to secure business financing if you need it.

5 reasons to start a painting business

There are tons of reasons why you might be curious about how to start a painting business: Overhead is relatively low, particularly compared to other trades, you don’t need to have a particularly specialized knowledge to get started, and you aren’t as limited by seasonal fluctuations as other trades are.

Here are five reasons why starting a painting business might appeal to you.

1. Getting started is easy

The barrier to entry for starting a painting business is low. Painters don’t usually have to go through the same kind of rigorous education and certification processes that other tradespeople, such as metalworkers or carpenters, do. This means you’ll be able to find employees that can start quickly, learn on the job, and may not be as expensive to hire as in other parts of the industry. And, if you plan to do the work yourself, you won’t have to spend time (and money!) going through preparatory classes. It’s not a bad idea to take a continuing education class to learn the finer points of painting homes, but if you’re already well-versed, you should be fine to get started without one.

Another great reason to start a painting business is its flexibility. You can work as many or as few jobs as you want. This is particularly true if you opt to do painting work seasonally. There’s a reason for jokes about teachers being house painters in the summer—it’s a great way to put a little extra money in your pocket when your regular job (or other contract work) is slow or out-of-season. And, with most businesses, you can get started without needing a ton of paperwork to register your business. Small business insurance may be another story, though, and we’ll cover that later on.

2. Startup and overhead costs are low

Operating a painting business also requires less expensive equipment than other fields. Instead of having to stock up on power tools, welding equipment, plumbing supplies, or other overhead-heavy materials, you can get started with little more than brushes and ladders. Other equipment, such as scaffolding and paint sprayers, can come later once you’ve recouped your startup expenses. Plus, upgrading your materials over time can help pay for itself, as you’ll be able to work more efficiently and take on additional jobs.

If you end up having enough business to require an additional set of hands to get things done, you won’t likely have to spend a ton on staff, either. Unlike other trades, such as carpentry and plumbing, there is less of a learning curve involved in learning how to paint houses. This means you won’t have to necessarily spend as much on staff as you would for more skilled tradespeople. Granted, this may not be true for every market, but the national average salary for painters is almost $38,000 versus a plumber’s salary, which is just above $57,000.

3. Clients pay more for specialized painting skills

There’s a big difference between putting a new coat of paint on the side of a house and creating a German smear-style coat on a brick wall. The more specialized your painting skills get, the more you can charge for your services. These techniques may take a little longer to hone, but learning specialized painting styles and techniques could help you make major bank if you invest the time in learning them.

The proliferation of home renovation shows has made even the most DIY-averse property owners attuned to the world of unique looks and decorating styles. This trend could be a huge asset for your business and provide you with a competitive edge. Plus, some niche services, such as historically accurate painting, can mean major contracts for your business.

Most communities have strict rules about what colors (and painting methods) people can use on historical homes, and you can be one of the businesses that offer these services. You could also branch out into related tasks, such as wallpapering, which opens up avenues for growth for your business.

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We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

4. Painting businesses are in demand

The painting industry grew 4.2% from 2014 to 2019, employing more than 500,000 people according to current figures. The industry is also worth about $43 billion as well. What does all of this mean for you if you’re looking at starting a painting business? Well, in short, it means that you’d be in pretty high demand.

If you live or work in an area where the real estate market is hot, you may also be able to get in on the action by starting a painting business that works alongside home flippers. Real estate investors need home improvement work done on short order, and are usually happy to work with a reliable partner across several projects. Find a flipper who needs painting services, and you might just have yourself your first long-term client. This can help you establish positive cash flow and get your business off the ground—particularly if you can harness the power of word-of-mouth advertising.

5. You get to be your own boss

This perk might be self-evident if you’re looking to start your own painting business, but it bears repeating. One of the biggest benefits of becoming an entrepreneur is setting your own schedule, building your business the way you want to, and setting the hours you want to keep. For many, that’s a huge benefit to consider when you want to know how to start a painting business, as well as just about any other kind of small business endeavor.

Granted, that also means getting your hands dirty with financial, legal, and regulatory issues—often without much help from other people if you’re starting off on your own. Painting businesses may be subject to fewer rules and restrictions than, say, an HVAC company, but there are still hurdles to clear for any business—particularly with regard to registering your business and getting set up with a business bank account.

How to start a painting business: The basics

You’re primed and ready to start your painting business (sorry, we couldn’t resist that one). Whether you’ve already thought about your strategy to enter the market or haven’t made it past the concept stage, there are plenty of factors and next steps that you’ll want to take on if you’re going to give your company the best chance at success that you can. Here are a few business basics to consider when starting your painting business, in order of operations.

Draft a business plan

You may not think that starting a painting business would mean drafting a business plan, but there are a ton of advantages to doing your homework in this regard. Plus, your business plan doesn't need to be overly complex or detailed—it can be a long or short as you want, so long as it covers a few basic elements. Don’t be overwhelmed by the idea of having to put pen to paper (or letters to screen, as it were): The best business plan is iterative, as it changes and grows alongside your business and its needs.

A good business plan empowers you with a roadmap for how you build your company, as well as a set of guiding principles once you're up and running. Owners of successful businesses are usually short on time, which means you might not have a ton of mental bandwidth to take on big-picture strategy development tasks when you’re in the middle of juggling jobs, balancing the books, and collecting invoices. A good business plan helps you stay on track when staying afloat becomes a full-time job.

Start Your Dream Business

Get your business registered

Got your business proposal in the bag? Great. Now the real fun begins. By fun, we mean paperwork (to each their own, right?). Running a small business that’s protected from accidents, legal trouble, or any kind of unforeseen incidents with the IRS means filing paperwork and covering your assets. Registering your painting business is perhaps the crucial events in your business’s life, too.

It’s important to register your business—and choose the right kind of business entity—because of the liability protections and tax implications that come with each of the options out there. Depending on where you live, you may be able to set up a sole proprietorship without even needing to file paperwork. Although this is the most expedient option, it also puts you at the most personal risk if something goes wrong.

Most painting businesses can get by with a limited liability corporation (LLC) or limited liability partnership (LLP). There are several varieties of both, each designed to accommodate different business structures. Some LLCs are designed as a pass-through entity for individual owners or partners. These allow you to keep your personal assets separate from those of your business, and even allow you to file your business taxes through your own personal returns.

Other corporation types, such as S-Corps and C-Corps, involve a bit more paperwork and logistics, and require you to file business taxes separately from your own return. As with all matters legal, be sure to get in touch with a lawyer before making a decision.

Purchase insurance and get licenses

Some municipalities require painting businesses to be insured and licensed, while others may not. In all states except Texas, for example, employers are required to get workers compensation insurance. Even if you’re not required to do one or both of these steps, it’s in your best interest to get both in most cases. Some types of small business insurance will help cover you and your employees in the event of an accident while on the job, as well as financial support in the event of a lawsuit or legal issue. Your coverage will depend on the kind of policy you purchase, and there are a variety of options out there from which you can choose.

Most areas will require a business license for you to do professional painting work legally. These rules are typically enacted and enforced on a state and local level. Therefore there’s no one-size-fits-all recommendation here, as your location is likely to have its own unique rules. You’ll want to make sure you’re fully licensed and on the right side of local laws before you start working. Without proper licensure, you may find yourself on the wrong side of the law and incur penalties for working without the right permits. Again, this is where a lawyer’s expert advice can come in handy.

Set up a business bank account

Once you’ve gotten your business officially on the books with the local or state governments, you’ll want to open a business checking account to keep your personal and business finances separate. This is a crucial step in the business startup process: If you don’t route your business’s money through a business bank account, you run the risk of leaving your personal assets up for grabs if your business goes under or gets sued.

The good news is that it’s easy to set up a business bank account. Most brick-and-mortar banks will let you start the process online and finish at a local branch. There are a growing number of online-only business banks that allow you to register for a business bank account online without needing to step foot in a bank. These banks won’t work for businesses that conduct most of their transactions in cash, though, since these options offer no ATMs where you can deposit greenbacks. If you anticipate doing most of your business in cash, you may want to stick with a more typical business bank account.

How to start a painting business: The financials

Even though the startup costs involved in starting a painting business are relatively low, that doesn’t necessarily mean that you’ll have the cash on hand to pay for everything you need to get started or grow your business. There are some compelling opportunities to get the cash you need, though—primarily through loans and zero-interest credit cards. Here are your options for what you can borrow in order to start your painting business.

Get an equipment financing loan

Equipment financing loans can be a great option for people who are looking to start a painting business. These loans function differently than your typical bank term loan: instead of requiring you to put up collateral in order to get the money you need, equipment financing loans allow you to borrow the amount of cash you need to make a specific purchase. Most equipment loan lenders will ask you what you’re looking to buy and a price quote from a vendor. If approved, they’ll loan you the total cost of the equipment in exchange for repayment over a certain period of time, plus interest. What you purchase serves as the loan’s collateral, meaning that the lender will sell what bought with the loan in the event that you can’t pay what you owe.

Get a small business term loan

When you think of a conventional bank loan, you’re likely envisioning a small business term loan. These loans are given out by banks to creditworthy borrowers. They require repayment on a predetermined schedule, and come with fixed or fluctuating interest rates depending on the way the loan is set up. Business term loans can be a great option for business owners that have strong personal credit, a track record of repaying business loans, and a robust business plan. Note that small business term loans are usually difficult for first-time entrepreneurs to get, so you may not be as likely to get money through these means if you haven’t already developed a track record through prior business loans.

Get a 0% intro business credit card

If banks aren’t open to lending your business money and you can’t pinpoint a specific purchase that you need the loan to complete, you aren’t completely out of options. Getting a 0% intro APR business credit card can give you access to cash with no interest payments, so long as you use your card properly. This option lets you buy what you need to get started while avoiding interest payments during the 0% APR period. This may even be better than a loan in some circumstances as a result.

Bear in mind that you have to pay your balance off in full before the introductory period expires—otherwise you’re on the hook for interest payments on top of your credit card balance.

The bottom line

Being your own boss by starting a painting business can be a rewarding experience, particularly if you’re not averse to getting your hands dirty (metaphorically and literally). With a little bit of paperwork, cash, and drive, you can get your business scaled up and ready for primetime without having to move mountains.

So long as you’ve set yourself up for success with the right business structure, licenses, insurance, and strategy, your paint rollers should be, well, ready to roll.

This article originally appeared on JustBusiness, a subsidiary of NerdWallet.

On a similar note...

Painting Business Plan Template & Guidebook

Are you an aspiring painter looking to get your own business off the ground? Do you need help developing a comprehensive business plan that will take your painting business from dream to reality? Look no further than the #1 Painting Business Plan Template & Guidebook. This detailed template and guidebook have everything you need to create a simple, step-by-step plan for launching and growing your painting business. With this essential tool, you can create a professional plan that will ensure your success as a successful entrepreneur.

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• How to Start a Profitable Painting Business [11 Steps]
• 10+ Best & Profitable Painting Business Ideas [2023]
• 25 Catchy Painting Business Names:
• List of the Best Marketing Ideas For Your Painting Service:

How to Write a Painting Business Plan in 7 Steps:

1. describe the purpose of your painting business..

The first step to writing your business plan is to describe the purpose of your painting business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.

It also helps to include a vision statement so that readers can understand what type of company you want to build.

Here is an example of a purpose mission statement for a painting business:

Our mission at ABC Painting is to provide high-quality painting services to our clients, creating a lasting impression and beautiful aesthetic that adds value to their homes and businesses. We also strive to be a leader in the painting industry by using innovative techniques, providing excellent customer service, and being committed to sustainability.

2. Products & Services Offered by Your Painting Business.

The next step is to outline your products and services for your painting business. 

When you think about the products and services that you offer, it's helpful to ask yourself the following questions:

• What is my business?
• What are the products and/or services that I offer?
• Why am I offering these particular products and/or services?
• How do I differentiate myself from competitors with similar offerings?
• How will I market my products and services?

You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.

3. Build a Creative Marketing Stratgey.

If you don't have a marketing plan for your painting business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals. 

A good marketing plan for your painting business includes the following elements:

Target market

• Who is your target market?
• What do these customers have in common?
• How many of them are there?
• How can you best reach them with your message or product?

Customer base 

• Who are your current customers? 
• Where did they come from (i.e., referrals)?
• How can their experience with your painting business help make them repeat customers, consumers, visitors, subscribers, or advocates for other people in their network or industry who might also benefit from using this service, product, or brand?

Product or service description

• How does it work, what features does it have, and what are its benefits?
• Can anyone use this product or service regardless of age or gender?
• Can anyone visually see themselves using this product or service?
• How will they feel when they do so? If so, how long will the feeling last after purchasing (or trying) the product/service for the first time?

Competitive analysis

• Which companies are competing with yours today (and why)? 
• Which ones may enter into competition with yours tomorrow if they find out about it now through word-of-mouth advertising; social media networks; friends' recommendations; etc.)
• What specific advantages does each competitor offer over yours currently?

Marketing channels

• Which marketing channel do you intend to leverage to attract new customers?
• What is your estimated marketing budget needed?
• What is the projected cost to acquire a new customer?
• How many of your customers do you instead will return?

Form an LLC in your state!

4. Write Your Operational Plan.

Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations. 

In it, you should list:

• The equipment and facilities needed
• Who will be involved in the business (employees, contractors)
• Financial requirements for each step
• Milestones & KPIs
• Location of your business
• Zoning & permits required for the business

What equipment, supplies, or permits are needed to run a painting business?

• Drop cloths
• Paint trays
• Paint sprayers
• Painting Tape
• Sandpaper, sponges, and/or scrapers
• Work clothes/gloves/face masks/safety glasses
• Business license for the city, county, or state where you plan on operating your business.

5. Management & Organization of Your Painting Business.

The second part of your painting business plan is to develop a management and organization section.

This section will cover all of the following:

• How many employees you need in order to run your painting business. This should include the roles they will play (for example, one person may be responsible for managing administrative duties while another might be in charge of customer service).
• The structure of your management team. The higher-ups like yourself should be able to delegate tasks through lower-level managers who are directly responsible for their given department (inventory and sales, etc.).
• How you’re going to make sure that everyone on board is doing their job well. You’ll want check-ins with employees regularly so they have time to ask questions or voice concerns if needed; this also gives you time to offer support where necessary while staying informed on how things are going within individual departments too!

6. Painting Business Startup Expenses & Captial Needed.

This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.

Typically, expenses for your business can be broken into a few basic categories:

Startup Costs

Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a painting business varies based on many different variables, but below are a few different types of startup costs for a painting business.

Running & Operating Costs

Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.

Marketing & Sales Expenses

You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your painting business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.

7. Financial Plan & Projections

A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your painting business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses. 

Here are some steps you can follow to devise a financial plan for your painting business plan:

• Determine your start-up costs: This will include the cost of purchasing or leasing the space where you will operate your business, as well as the cost of buying or leasing any equipment or supplies that you need to start the business.
• Estimate your operating costs: Operating costs will include utilities, such as electricity, gas, and water, as well as labor costs for employees, if any, and the cost of purchasing any materials or supplies that you will need to run your business.
• Project your revenue: To project your revenue, you will need to consider the number of customers you expect to have and the average amount they will spend on each visit. You can use this information to estimate how much money you will make from selling your products or services.
• Estimate your expenses: In addition to your operating costs, you will need to consider other expenses, such as insurance, marketing, and maintenance. You will also need to set aside money for taxes and other fees.
• Create a budget: Once you have estimated your start-up costs, operating costs, revenue, and expenses, you can use this information to create a budget for your business. This will help you to see how much money you will need to start the business, and how much profit you can expect to make.
• Develop a plan for using your profit: Finally, you will need to decide how you will use your profit to grow and sustain your business. This might include investing in new equipment, expanding the business, or saving for a rainy day.

Frequently Asked Questions About Painting Business Plans:

Why do you need a business plan for a painting business.

A business plan for a painting business is important in order to make sure that the business is profitable and successful. It helps to determine the goals and objectives of the business, as well as the strategies and tactics necessary to achieve those goals. It can also help the owner assess the financials of the business, such as expenses, revenue, and profitability. Additionally, it provides a roadmap for business growth and development. Finally, it can be used to secure funding from investors or lenders.

Who should you ask for help with your painting business plan?

It is advisable to consult a professional business consultant or accountant to help you create a comprehensive business plan for your painting business. Additionally, you may find help and resources from government agencies, non-profit organizations, and other private entities that specialize in providing assistance to small businesses.

Can you write a painting business plan yourself?

Yes, you can write a painting business plan yourself. You will need to do some research on the painting industry, as well as consider your budget, target market, and goals for the business. You should also make sure to include a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis of your business and a financial plan that outlines your projected costs and revenue. Additionally, consider writing out a marketing plan that will help you reach your customers and promote your business.

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I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.

BUSINESS STRATEGIES

How to create a painting business plan

• Jeremy Greenbaum
• Sep 14, 2023

When starting a business that specializes in interior or exterior painting, a well-crafted business plan is your essential tool. It goes beyond just words on paper; it's your guiding star to thrive in the industry. More specifically, a painting business plan is a strategic document that outlines the fundamental elements of your business: your goals, target market, services offered, pricing strategies, marketing approach, financial projections and operational procedures.

Learn more about the essential component of a business plan, and how to get started crafting your own.

Ready to get your painting business off the ground? Get started making a website with Wix .

Why create a painting business plan?

When stepping into the world of painting, having a comprehensive and crystal-clear business plan can help in a variety of ways:

Gives you clear direction: By carefully defining your business's purpose, objectives and target audience, your plan can articulate where your business is headed. This clarity means you're less likely to make costly missteps that could slow down your business's growth.

Helps you raise money for your business : A well-crafted business plan is your pitch for securing funding and investments. Whether you're seeking loans or courting potential investors, a detailed plan shows that you're serious and that you understand the market inside and out. That boosts your business's credibility and makes it more attractive to potential financial supporters.

Guides your marketing and branding: Your business plan isn't just about words; it's also about actions. It's your guiding light when building assets, like your business website , that should feature consistent messaging. By defining your company vision and marketing strategy up front, you can more easily create brand guidelines that take all of your multichannel efforts into account.

Regardless of what type of business you’re starting, a strong business plan consists of the following elements:

Executive summary

Business and domain names

Market analysis and research

Operations plans

Marketing and advertising plans

Financial plan

Before creating your business plan, check out how to start a service business .

01. Executive summary

The executive summary of a painting business plan is a concise overview of the entire plan. It encapsulates the business's mission, services offered, target market, competitive edge and financial projections. In essence, it provides a snapshot of the business plan's key points, serving as a preview for potential investors and stakeholders.

To craft a clear executive summary for a painting business, focus on highlighting the uniqueness of your services, your commitment to quality workmanship and the potential growth prospects.

Here's an example: “Brushstroke Pros is a dynamic painting services company dedicated to transforming spaces through exceptional craftsmanship and innovative design. With a team of skilled professionals and a passion for artistic expression, we offer a comprehensive range of residential and commercial painting services. Our commitment to delivering top-notch results and personalized service sets us apart in the industry. We project steady growth, targeting a 25% increase in revenue within the first year. By merging our expertise with client aspirations, we're poised to become a recognized leader in the painting sector.”

02. Business and domain names

Selecting an appropriate business name is vital for building brand identity and trust. A well-chosen name, like "Brushstroke Pros," emphasizes your expertise and professionalism. If you’re not sure where to start, use a business name generator to think of creative small business names.

Use: Small business name generator

When choosing a domain name , align it closely with your business name, ensuring it's easy to remember and spell. Checking domain name availability is crucial—and a .com extension is generally preferable for its familiarity and credibility.

Be inspired: Painting business name ideas

Remember to also register your business once your name and business structure is set in stone.

03. Market analysis and research

Conduct thorough market research to identify your ideal clients, whether they're homeowners seeking interior painting or businesses in need of exterior upgrades. Understanding your target audience's preferences and pain points helps tailor your services and marketing strategies.

Analyze local and regional competitors to identify gaps in the market. This analysis will guide your pricing, service differentiation and marketing approach, allowing you to position your business uniquely.

04. Operations plan

An operations plan outlines the practical aspects of running your painting business effectively. It should include things like:

Location: Determine whether your painting business will serve a specific geographical area or have a broader reach. Consider choosing a central location for easy access to clients and projects.

Premises and equipment: Outline the equipment needed for various painting projects, from brushes and rollers to power washers. Detail how you'll maintain your equipment to ensure consistent performance.

Staffing: Specify the number of skilled painters required for different project sizes and types. Define their roles and responsibilities to ensure seamless project execution and completion.

05. Marketing and advertising plan

This should include your marketing plans and strategies focusing on your:

Social media presence: Utilize platforms like Instagram, Facebook and Pinterest to showcase before-and-after photos of your projects. Engage with followers by sharing painting tips and insights.

Local advertising: Utilize local newspapers, magazines and community boards to promote your services. Offer special discounts for first-time clients to attract initial business.

Networking: Attend local home improvement shows, trade fairs and networking events to connect with potential clients and collaborators in the construction and design industries.

Need help thinking of a strong logo for your business? Try Wix’s free logo maker .

06. Financial plan

Some important components to include as part of your financial plan include:

Startup costs: Estimate expenses for equipment, marketing materials, insurance, licenses and initial staff training.

Revenue projections: Project revenue based on the number of projects and average service fees. Aim for gradual growth, targeting a revenue increase of 20% annually.

Funding: Consider self-funding, small business loans or partnerships to secure the necessary funds for startup and initial operations.

Profitability timeline: With a diligent marketing and execution strategy, anticipate achieving profitability within the first 18 months of operation.

Hypothetical painting business plan example: ColorSplash Painting Services

ColorSplash Painting Services is poised to become a leading name in the painting industry, offering top-notch residential and commercial painting solutions. Our team of skilled professionals is committed to transforming spaces with vibrant colors and superior workmanship. We project a 20% increase in revenue within the first year as we establish our brand and solidify our reputation for quality and creativity.

Company and domain Names

Company name: ColorSplash Painting Services

Domain name: www.ColorSplashPainting.com

Our company name, "ColorSplash Painting Services," reflects our commitment to adding vibrancy and life to spaces. The corresponding domain name aligns with our brand identity and ensures easy online access for potential clients.

Target market: Our focus will be on homeowners seeking interior and exterior painting services, as well as local businesses looking to refresh their commercial spaces. Research shows a growing demand for personalized and creative painting solutions.

Competitor analysis: We've analyzed local painting companies and identified an opportunity to stand out through innovative design concepts and exceptional customer service. This analysis will guide our approach to service differentiation and marketing strategies.

Operations plan

Location: Our headquarters will be strategically located for easy access to residential and commercial areas within a 30-mile radius.

Premises and equipment: We'll maintain a storage facility for equipment, including brushes, rollers and paint sprayers. Regular maintenance and replacement will ensure efficient operations.

Staffing: Our team will consist of experienced painters and color consultants who are passionate about translating clients' visions into reality. We'll hire based on skill, professionalism and commitment to quality work.

Marketing and advertising plan

Social media presence: Active profiles on Instagram and Facebook will showcase our portfolio, project transformations and paint color trends. Engaging content will help us connect with potential clients.

Local advertising: We'll collaborate with local home and lifestyle magazines, offering special features and discounts for readers. This will increase brand visibility and attract local clientele.

Networking: Attending home improvement expos and joining local business associations will allow us to network with potential clients, interior designers and real estate professionals.

Startup costs: Initial investments in equipment, marketing materials, insurance and staff training are estimated at $30,000.

Revenue projections: We anticipate revenue growth from $50,000 in the first year to $100,000 in the second year, fueled by increasing clientele and positive referrals.

Funding: We plan to secure funding through a combination of personal savings, a small business loan and contributions from a silent investor.

Profitability timeline: With a strategic marketing approach and efficient operations, we anticipate reaching profitability by the end of year two.

Other business ideas you might be interested in and how to get started

Check out these additional service business ideas as well as service business examples for more inspiration.

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A Step-By-Step Guide To Starting Your Own Painting Business

Deanna deBara

One industry that never goes out of style? Home improvement. People are always going to be looking to update and improve their homes, offices, and other properties—which creates a lot of opportunities for businesses that can help them make those updates and improvements.

And one of the most common improvements people look to make to their properties? Painting.

A fresh coat of paint can completely transform a space—and people are willing to pay professional painters a lot of money for that transformation. If you have painting experience and are thinking about starting a new business, getting into the painting industry could be a way to start your path to entrepreneurship, become a small business owner, and build a thriving, sustainable company.

But how, exactly, do you build a successful painting business from the ground up? Let’s take a look at the step-by-step process for starting your own painting business.

Is Starting A Painting Business A Good Idea—And Is It Profitable?

First things first—before we jump into how to start a painting business, let’s quickly touch on whether breaking into the painting industry is a good (and profitable!) idea.

And the answer is—it depends.

Opening a new painting company certainly can be a solid business idea—and an idea that can drive a significant amount of revenue. But whether it’s a good and profitable idea for you depends on a variety of factors, including:

• Experience. While you don’t need decades of experience to start a painting company, you do need to know the basics of how to paint—and be able to do a professional job for your customers.
• Market. The market where you’re launching your painting business will also play into how good/profitable of an idea it ultimately is. For example, if your market already has 10 other painting companies, it’s going to be a lot harder to turn a profit than it would be if you were the only paint operation in town.
• Marketing. As a business owner, your ability to make a profit is directly related to your ability to successfully market your business—and that includes in the painting industry.

Before you make the leap into the world of professional painting, it’s important to evaluate the different factors at play—and make sure that starting a painting business is a viable business idea with plenty of profit potential.

And once you make that decision and decide to move forward? Here are the steps you’ll need to take to get your business off the ground.

Figure Out What Type Of Painting Business You Want To Start

“Painting” is a broad term; there are so many different niches and specialties within the painting industry. So, before you get too far into planning and launching your business, the first step in the process?

Figuring out what type of painting business you want to start.

For example, you might decide you want to start a house painting business and specialize in residential properties, helping homeowners with both interior and exterior painting projects. Or you might decide you want to focus on commercial painting, tackling large-scale painting jobs for office buildings, restaurants, and other commercial properties in your area.

Whatever type of painting company you want to start, it’s important to establish your niche from the beginning; that way, you can adjust your business strategy (for example, who to hire and how to market your business) accordingly.

Create A Business Plan 

Every successful business starts with a business plan—and that includes painting businesses. So, once you’ve established what type of painting company you want to create, the next step in the process is creating a plan for how to get your company off the ground.

Your business plan is like a roadmap; it helps you figure out how to get from where you are now (a budding business owner with an idea) to where you’re trying to go (an established small business owner with a thriving painting company).

But what, exactly, does that roadmap need to include? Your plan should include all relevant information about starting and growing your business (the more detail, the better!), including:

• Business Name. What are you going to name your business—and how is that name going to stand out in your market?
• Target Market. Who are your target customers? What are their painting needs? How are they currently getting those needs met (for example, through competitors or through taking the DIY route to painting)?
• Competitor Analysis. Who are your big players in your area’s paint market? What kind of presence do they have in the market? And how are you going to differentiate yourself from those competitors and show your target customers that you’re the paint company they should work with?
• Equipment And Supply Needs. What kind of painting equipment and supplies do you need from the get-go—and what kind of equipment and supplies will you need once you start booking paint jobs? 
• Startup Costs. What are your startup costs? Where are you going to get the capital to fund getting your business off the ground?
• Services And Pricing Structure. What painting services is your business going to offer—and how are you going to price those services? For example, are you going to charge clients by the hour or by the project?
• Operational Strategy. How are you planning to operate and manage your business ?
• Staffing Needs. Who do you need to hire in order to get your business off the ground? Are you going to hire full-time house painters/employees or hire subcontractors when you need them?
• Marketing Strategy . How are you going to get the word out about your painting business and connect with potential clients?
• Revenue Goals . What are your revenue goals? What are your profit margins? How much revenue do you need to bring in to get your business in the green?

You’ll need to invest time, energy, and effort into crafting your business plan. But it’s a must if you want to set yourself and your business up for success in the long-term—so make the investment and make sure you have a detailed plan from the very beginning.

Legally Establish Your Painting Company…

Once you have a plan for your painting company in place, the first step to putting that plan into action? Taking care of the legal side of starting a business. 

Before you start marketing your business or taking on clients, there are a few steps you’ll want to take to legally establish your business and protect yourself, your team, and your company, including:

• Choose your business structure and register your business. There are a variety of ways to structure a business. For example, if you’re not going to hire a team (and are just going to tackle paint jobs yourself), you may choose to function as a sole proprietorship. If you’re going into business with another business owner, you may decide to explore an LLC partnership. Depending on your business, there can be benefits and drawbacks to different types of business structures—so make sure to do your research, choose the business entity that makes the most sense for you, then take any necessary steps to legally establish your business and register it with your state.
• Get licensed and insured. You’ll need a business license in order to operate your painting business—and in order to protect yourself, your team, and your business, you’ll also want to secure the proper insurance (like general liability insurance and workers’ compensation ).
• Establish your business finances. As a new business owner, it’s important to separate your personal finances and your business finances from day one —and that means getting all your business financial ducks in a row (like opening a business bank account, securing a business credit card, and setting up a bookkeeping software) from day one. 

...And Establish Your Presence Online

In today’s digital age, every business needs a presence online—and that includes your painting company. Some steps you’ll want to take to establish your presence online before marketing your business include:

• Create a website. Your website is your most important digital asset—and it’s the first thing you’ll want to create when establishing your business’ presence online. Make sure to design a website that not only includes the key information about your business (like your contact information and services), but also looks professional and gives potential customers peace of mind that your business is the real deal.
• Create social media profiles . Social media can be a great way to network and find new clients—so make sure to create profiles on all the major social media sites (like Facebook, Twitter, and Instagram). 
• Get reviews . If you already have experience working with clients, ask them to write reviews about your services—then include those reviews on your website or social media profiles to help show potential customers that they can trust you with their painting jobs.

Hire A Team

Before you start marketing your business and taking on jobs, you need to ensure you have the capability to manage those jobs successfully—and, depending on what types of clients and jobs you’re going to take on, that could mean hiring a team.

If you’re going to hire a team to support your painting business, a few things to keep in mind include:

• What kind of team members do you need to hire? Again, there’s more than one way to build a team. Depending on your needs, you may choose to hire full-time employees , part-time employees , or work with painting contractors on an as-needed basis . There’s no right or wrong way to hire—just make sure that the structure you choose makes sense for your business and workload.
• What type of experience do you need your team to have? If you’re tackling simple jobs, you may be able to hire more junior painters—but if you’re going to be working on more complex jobs or jobs that require knowledge of a specific technique or piece of equipment, you’ll want to hire painters with more experience.
• What kind of people do you want to hire? Your team is an extension of your business—so you’ll want to put some thought into who you want to represent you on job sites and in working with clients. What kind of characteristics do you want your team members to have? For example, you may decide you’ll only work with people who are trustworthy, punctual, and have a keen attention to detail.

Get The Necessary Painting Equipment And Supplies

Another thing you’ll need to take care of before you start actively taking on painting work? Getting the right equipment and supplies.

The type of equipment you’ll need to get started will vary based on your business and what types of projects you’re going to tackle; for example, if you’re going to be working on interior paint jobs, you’ll need drop cloths to protect your client’s flooring—and if you’re going to be offering spray paint services, you’ll need to invest in sprayers.

One supply you can wait on? Paint. While you’ll eventually need to invest in high-quality paint, that’s a supply you can buy on a project-by-project basis based on the colors and quantity each client needs.

Get The Word Out About Your Company And Services

You’ve fleshed out your business plan. You’ve secured your painting equipment. You’ve got your staff on standby. At this point, you’re ready to start actively taking on painting work.

And that means it’s time to get the word out about your business and start marketing.

There are a number of different ways to market your new painting company, including:

• Social Media. As mentioned, social media can be a great way to connect with potential customers in your area—especially if you focus on localized social media apps like NextDoor or locally focused Facebook groups.
• Advertising . Digital advertising is a great way to deliver targeted messaging to your ideal customers and build buzz around your business and services. Depending on your audience and where you’re building your business, you might also think about exploring traditional advertising avenues, like buying an ad in the local paper or posting flyers in the local home improvement store.
• Word Of Mouth. One of the best ways to land new clients is through a recommendation from an existing client. As you expand your painting company, ask your existing clients to share your business with their friends, families, and colleagues—and offer them an incentive (like a discount on their next painting service) for those referrals.

Bottom line? As you’re building and expanding your painting business, you need to connect with as many potential clients and customers as possible—so make sure to invest plenty of time, energy, and resources into marketing your services and getting the word out about your company.

Get Out There And Build A Thriving Painting Business

Starting a new business can be hard work. But now that you know the steps to start a painting business from scratch, you’re armed with the information you need to build a successful and sustainable business from the ground up. So what are you waiting for? Get out there and build that business!

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Free Painting Business Plan PDF to Get Started in 2023

Downloadable Example

When starting your own painting company, you need to take the time to create a written painting business plan. While it won’t be the most exciting part of being an entrepreneur, it is vital to the success of your venture.

We’ve put together a helpful guide so you can dive in and create a business plan that provides direction, attracts investors, and drives results.

Enter your email below to download a painting business plan PDF sample

What Is a Business Plan?

A painting business plan is a document detailing how to start a painting company, the business goals, services, and how the contractor plans to reach their goals.

Along with focusing on your painting company’s goals, it’s helpful to include other information, such as the painting services you plan to offer, your process for how to bid a paint job , and any competitive differentiators that set up a part in the local market.

Think of your business plan as a written outline about your painting company startup that you can share with other individuals, companies, or investors who want to join your business venture.

It is essentially a pitch about why someone would want to be involved with your painting company and how it will benefit them by detailing everything from team structure to financial projections.

Sections of a Painting Business Plan

Remember that as the business owner, you get to decide what to and what not to include in your painting business plan. If a section doesn’t make sense for your business or aligns with your growth goals, don’t feel forced to leave it in.

Determine which sections make the most sense for your painting company’s needs. To create a comprehensive business plan, consider including the following sections:

1. Executive Summary

At the beginning of the business plan, you want to provide a short summary of who your painting business is and why it will be successful.

• This is where you would provide any company details you have, including your painting company mission statement, leadership team, employees, location(s), service area, and any other basic business details.

2. Company Description

Here you will outline who your painting company is and discuss your purpose.

• What problems do you help your customers solve?
• What makes you stand out from similar competitors in the market?
• What expertise and training does your team of painting contractors have?

Use the company description section as a place to brag about yourself a little bit and highlight what makes your painting business stand out from others.

3. Market Analysis

Anyone can say they will become a painting contractor , but you need the numbers to back up that claim. Analyzing your local market and performing competitor research will help uncover your competitors’ strengths and weaknesses.

In doing so, you can determine where you need to excel and how your painting company can outshine the competition. Determine what they are doing well, what they are struggling with, and what you can do better.

4. Organizational Structure

Having a clearly defined organizational structure ( 1 ) is a crucial aspect of any business — especially if you are looking to get funding or investments.

• Create an org chart that outlines the company structure, detailing who is in charge of all business operations down to the painting contractors who are out in the field executing the job.

5. Painting Services

Provide a menu of service offerings that you plan to offer to your customers.

• Do you plan to offer residential painting? If so, are you focusing on new development jobs led by contractors, or are you appealing to the homeowner crowd?
• Will you bid on commercial painting leads?
• Do you only offer single-room paint jobs or whole-home jobs as well?
• Is your team equipped to handle interior and exterior paint jobs?

Use this section to outline your service offerings and explain how they will benefit your target customer base.

6. Marketing and Sales

While your painting company’s marketing strategy should be fluid to align with the current market, this section will describe your high-level plan for attracting new business and retaining existing customers when word of mouth alone isn’t sufficient.

• What is your plan to increase the leads coming in?
• How do you plan to close those leads and convert them into customers?
• Is there a strategy to make your existing sales repeat customers?

Provide an insight into the traditional marketing and digital marketing strategies you plan to employ.

7. Funding Request

If you are asking for funding or plan to in the future, you will need to provide an outline of your funding requirements. Explain how much money you are requesting and details on how those funds will be distributed and used over the next few years.

8. Financial Projections

Including financial projections for your painting company is an effective way to demonstrate that your business will succeed.

If you are an established company, you can fill out this section with existing financial statements or cash flow statements for the last few years to demonstrate your painting company’s profitability .

• Use this section to forecast where you expect the company to be financially five years from now.
• It can be helpful to break up your projections by quarters so you can easily determine if you are on track to meet your projections.
• Include revenue projections and expenses such as insurance, advertising, taxes, property leases, etc.

9. Appendix

At the end of your painting business plan, you should add any supporting documents for the information you’ve provided. This can include resumes for your leadership team, licenses, credit histories or bank statements, and other contracts.

Example of a Painting Business Plan PDF

You can open or download our free painting business plan PDF below:

You can get an editable version emailed to you by entering your email below:

Does My Painting Company Need a Business Plan?

Starting a company in the painting trade is an exciting process — but it often comes with a lot of headaches. Even though you may want to dive right in, it’s vital to set up your business for success from day one.

Creating a solid business plan is one of the most effective ways to prepare your business for any challenges or obstacles you face.

While a business plan isn’t necessarily a mandatory requirement, it is a step that shouldn’t be glossed over.

• It’s a valuable tool that you and your leadership team can continue to use to stay focused and on track toward your painting company’s goals.
• Not only does a painting company business plan make your vision clear to yourself, as well as possible investors, but provides many additional benefits as well:

Business Growth

Every successful painting company starts with a good foundation. Diving in without a well-thought-out plan might be okay initially, but without concrete revenue goals and essential business details sorted out, you’re doing your painting business a disservice.

• Creating the core strategy of your painting company will help accelerate your growth because you will have clear benchmarks that need to be met.
• If you aren’t meeting these benchmarks, you’ll know that your business plan might need to be adjusted.

And on the other hand, you might surpass these benchmarks and be able to reach your goals more quickly because of the clear path you laid out for yourself. Taking the time to create a painting business plan ensures you have a roadmap to success.

Depending on the growth goals you have for your new painting venture, you may need additional funding to achieve them.

• By creating a solid business plan for your painting company, you’re demonstrating to investors and loan providers that you understand the growth trajectory of your business.
• No investor or loan provider will want to invest in a business that isn’t financially stable.
• Writing up a business plan allows you to share your ideas and goals for your painting company.

Business Decisions

As a business owner, you need to be able to make essential business decisions. Whether dealing with a significant fluctuation in painting leads or facing a labor shortage, you must be prepared to deal with situations even when you have little prior experience.

• A business plan enables you to make strategic business decisions because you will know your most recent forecasting information and trajectory toward your goals.
• You can be a confident owner of a painting business, knowing that you have a solid business plan in place to back up your decision-making.

Common Questions About a Painting Company Business Plan

What is the purpose of having a painting business plan.

A business plan will help you determine if your painting business idea is viable, increase your chances of success, and secure financing.

What are the parts of a painting company’s business plan?

Executive summary, company description, market analysis, organizational structure, painting services, marketing & sales, funding requests, financial projections, and appendix.

What is an executive summary for a painting company?

An executive summary includes a mission statement, information about the leadership team, and financial goals.

• https://www.investopedia.com/terms/o/organizational-structure.asp

Written by George Leon

George Leon is a Managing Partner at Scalebloom. He used to be a partner at a painting company in Charlotte NC. George loves to help business owners scale their business with modern marketing strategies and branding.

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Painting Company Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Home Improvement » Painting

Are you about starting a painting business? If YES, here is a complete sample painting business plan template & feasibility report you can use for FREE .

Okay, so we have considered all the requirements for starting a painting business . We also took it further by analyzing and drafting a sample painting marketing plan template backed up by actionable guerrilla marketing ideas for painting businesses. So let’s proceed to the business planning section.

As an aspiring entrepreneur who is looking for a thriving business to start, one the business opportunities that can guarantee you steady income is a painting business.

In the united states of America and in most countries in Europe, you may notice that a good percentage of homes and offices paint their facilities on a regular basis. This goes to show that there is indeed a large market for the painting business.

The Painting business can be learnt within a few months especially if you know how to pay attention to details. If you are actually convinced that starting a painting company is the right business for you, then you need to write your own business plan.

The essence of writing a business plan before starting any business is for you to have a roadmap and a blueprint of how you want to setup, manage and expand your business. Below is a sample painting company business plan template that will help you successfully write yours with little or no stress.

A Sample Painting Company Business Plan Template

1. industry overview.

The painters industry comprises of various niches such as construction and industrial painters amongst others. What construction cum industrial painters do is to apply paint, special coatings, and wallpaper to various internal as well as external surfaces for protection, cleanliness or beautification.

Industry painters offer services to a wide range of customers that cut across residential, commercial, industrial and municipal building markets as well as for infrastructure projects like roads, bridges and stadiums et al. Painters are sometimes contracted to paint ships but not automobile and aircraft.

On the average, a standard painting business offers services such as bridge painting, painting of buildings or other structures, paper hanging for the purpose of beautification, spray painting buildings or other structures, wallpapering, house/residential painting, rustproofing (excluding automotive), paint and wallpaper removal, and whitewashing. Painting or coating provides two primary functions; decoration and protection.

If you are a close watcher of the Painters industry, you will agree that the industry’s foundation shook as the housing bubble burst, with several factors contributing to discourage consumers from spending on home improvements such as painting.

Experts projected that the Painters industry recovery will be driven by improvements in employment and per capita disposable income.

In the United States and in most countries of the world, home prices are expected to continue to raise, facilitating growth in demand for painters industry services because homeowners often leverage the value of their homes through loans to fund remodeling projects.

The Bureau of Labor Statistics (United States of America) projects 11.1 percent job growth for the real estate industry between 2012 and 2022, which is about as fast as average. During that time, an additional 38,000 jobs will open up in the industry.

Hence any painting company that is well equipped and positioned will rake in huge revenues from this industry within this period and of course the future is bright.

Statistics has it that in the United States of America alone, there are about 323,194 registered and licensed painting companies responsible for employing about 503,130 people and the industry rakes in a whooping sum of $43 billion annually.

The industry is projected to grow at a 4.2 percent annual growth within 2014 and 2019. It is important to state that there are no establishments in this industry that has a lion market share.

A recent report published shows that the Painters industry is very labor-oriented, as it relies on employees to carry out most industry activities. Therefore, the industry requires a low level of capital investment and instead allocates much of its cost structure to labor payments, which accounts for 23.1 percent of revenue. Purchases account for 56.9 percent of industry revenue.

The report further stated that these costs are largely related to materials, components and supplies used during service requests as well as the costs associated with contracting work out to third-party subcontractors. Depreciation absorbs only 1.0 percent of industry revenue, and capital purchases are largely limited to vehicles and computers used in sales offices.

Lastly, as a professional painter, it is very important to be creative, to be able to use your ideas to meet the rapidly changing needs of the society when it comes to properties; you should be able to convert a shanty town property or facility into a beautiful edifice if indeed you want to become a major player in the industry.

2. Executive Summary

Jim De Rosa® Painting Company, LLC is a construction painting company that is incorporated under the law of the United States of America.

Our head office will be located in a standard and centrally located office facility in the heart of Newark – New Jersey. Although our Head Office will be located in Newark – New Jersey, but we will open our branch offices in major cities in all regions of the United States of America.

Within the first two years of operation, we would have set up our offices in the following locations; New York City, Los Angeles, Florida, North Dakota, Boston, Dallas and Washington.

Jim De Rosa® Painting Company, LLC will engage in industrial and commercial painting services such as bridge painting, painting of buildings or other structures, paper hanging for the purpose of beautification, spray painting buildings or other structures, rustproofing (excluding automotive), paint and wallpaper removal, and whitewashing.

We will work towards becoming one of the largest painting companies in the United States of America with active presence in major cities. As part of our plans to make our customers our number one priority and to become one of the leading painting companies in the United States of America, we have perfected plans to adopt international best practices.

Jim De Rosa® Painting Company, LLC will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.

Jim De Rosa® Painting Company, LLC will be owned by Jim De Rosa and his immediate family members. Jim De Rosa has a Degree in Fine Arts and he has over 13 years’ experience as a professional painter working for one of the leading property development companies in the United States of America.

3. Our Products and Services

Jim De Rosa® Painting Company, LLC is going to offer varieties of services within the scope of the Painters industry in the United States of America. Our intention of starting our painting company is to favorably compete with leading players in the industry in the United States of America.

We are prepared to make profits from the industry and we will do all that is permitted by the law in the United States to achieve our business goals. Our business offerings are listed below;

• General residential painting
• General nonresidential painting
• Paper hanging, wall covering and removal
• Non building painting
• Other related services

4. Our Mission and Vision Statement

• Our vision is to become one of the top 10 painting companies in the United States of America within the first 10 years of starting Jim De Rosa® Painting Company, LLC.
• Our mission and values are to help people, businesses and property owners in the United States of America paint their homes to fit into the ideal mental pictures they have of how a world – class home should be and to also paint other public structures to fit into the plan of the government.

Our Business Structure

Our company’s structure is not entirely different from what is obtainable in the industry, as a matter of priority, we have decided to create a structure that will allow for easy growth for all our employees and also, we have created platforms that will enable us attract some of the best hands in the industry.

We are quite aware that the success of any business lies in the foundation on which the business is built on, which is why we have decided to build our painting company on the right business foundation. We will ensure that we only hire people that are qualified, honest, hardworking, customer centric and are ready to work to help us build a prosperous business that will benefit all our stakeholders.

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more depending how fast we meet our set target. Jim De Rosa® Painting Company, LLC is fully aware of the modus operandi in the painting industry, hence adequate provision and competitive packages have been prepared for independent sales agents.

Our marketing department will be responsible for managing this aspect of our business. Below is the business structure we will build Jim De Rosa® Painting Company, LLC on;

• Manager (Owner)

Project Manager

Admin and HR Manager

Professional Painters

• Business Developer/Sales and Marketing
• Customer Service Executive / Front Desk Officer

5. Job Roles and Responsibilities

Manager (Owner):

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results
• Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for fixing prices and signing business deals
• Responsible for providing direction for the business
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Responsible for the planning, management and coordinating all projects on behalf of the company
• Supervise painting projects
• Ensure compliance during project executions
• Providing advice on the management of projects
• Responsible for carrying out risk assessment
• Responsible for overseeing the accounting, costing and billing of every project
• Ensures that project desired result is achieved, the most efficient resources are utilized and different interests involved are satisfied.
• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defining job positions for recruitment and managing interviewing process
• Carrying out induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Oversees the smooth running of the daily office activities.
• Read blueprints/instructions and examine surfaces to determine the kind and amount of work necessary
• Make on-site preparations such as building scaffolding, covering fixtures etc.
• Prepare walls and other surfaces for painting by scraping, using sandpaper, removing old paint etc.
• Fill cracks and holes with appropriate material (e.g. plaster)
• Mix paint and other materials to prepare the right color or texture
• Paint surfaces according to instructions with various tools
• Apply varnish and other finishes
• Take and adhere to all health and safety precautions.

Marketing and Sales Executive/Business Developer

• Identify, prioritize, and reach out to new partners, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Document all customer contact and information
• Represent the company in strategic meetings
• Help increase sales and growth for the company
• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managers with financial analyses, development budgets, and accounting reports
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensuring compliance with taxation legislation
• Handles all financial transactions for the company
• Serves as internal auditor for the company

Front Desk/Customer’s Service Officer

• Receives Visitors / clients on behalf of the organization
• Receives parcels / documents for the company
• Handles enquiries via e-mail and phone calls for the organization
• Distribute mails in the organization
• Ensures that all contacts with clients (e-mail, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s services
• Manages administrative duties assigned by the line manager in an effective and timely manner

6. SWOT Analysis

The fact that painting business is a very rewarding business does not mean that there are no challenges in the industry. Starting a painting business in the United States of America comes with its own fair share of challenges, you would have to abide by the law and also compete with loads of other entrepreneurs in the real estate business value chain who also are interested in making a living and building a business in the US.

In order to compete favorably in the industry as a painting company we have been able to hire the services of tested and trusted business consultant to help us conduct critical SWOT analysis for us. Here is a summary from the SWOT analysis that was conducted on behalf of Jim De Rosa® Painting Company, LLC;

Some of our strengths that we will be bringing to the table in the Painters industry is our robust relations with works departments, homeowners and property investment moguls in the whole of the United States of America. We have a team of experts who have cut their teeth in the commercial painting line of business.

Our commission structure and relationship with freelance real estate agents in Newark – New Jersey and other states in the US will also count towards our advantage.

As a newbie in the Painters industry, we might have some challenges competing with big time property developers and other painting companies that have been in the industry for many years; that perhaps is part of our weakness.

• Opportunities:

The opportunities in the Painters industry especially as a painting company is massive considering the numbers of home owners who have the financial capacity to renovate their homes as at when due and government painting contracts in the United States. We are well – positioned and ready to take advantage of any opportunity that comes our way.

Some of the threats that we are likely going to face as a painting company are unfavorable government policies , and global economic downturn; global economic downturn usually affects spending power and the real estate industry cum painting business is known to encounter decline in sales and profits during this period.

7. MARKET ANALYSIS

• Market Trends

As a result of real estate growth and expansion, demand for industry services across several construction markets has significantly expanded over the five years to 2019. The residential market, a key source of industry revenue, has been especially supportive.

Furthermore, activity in nonresidential construction sectors has also grown, further widening demand for industry services. Over the five years to 2019, broad improvements in the US economy facilitated strong growth in the housing market. During the period, housing stats increased at an annualized rate of 6.2 percent.

Another obvious trend that is common with painting companies in the United States of America is that most of them are making use of health friendly paints hence the production and usage or insect repellent paints.

Lastly, one thing is certain for every painting company; if they are hardworking, creative and proactive, they will always generate enough income to meet all their overhead and operational cost , keep their business going without struggle and make reasonable profits from all projects that they are involved in.

8. Our Target Market

As a painting company, our target market cuts across people (home owners) of different classes and from all walks of life, corporate organizations and the government. We are coming into the Painters industry with a business concept that will enable us work with a wide range of clientele.

As a matter of fact, our target market is the whole of the United States of America and we have put plans in place to recruit freelance agents (brokers) nationally to represent our business interest wherever they are located in the United States of America. Below is a list of the people and organizations that we have specifically designed our services for;

• Corporate organizations who are interested in acquiring their own property / properties
• Home Owners who are interested in remodeling, painting and selling off their home
• Properties Owners who are interested in remodeling, painting and selling off their properties
• Foreign investors who are interested in owning properties in the United States of America and remodeling and painting the property
• The government of the United States of America (Government contracts)
• Managers of public facilities who would want to engage painting companies to help them paint properties under their care.

Our competitive advantage

The Painters industry is indeed a very prolific and highly competitive industry. Clients will only hire your services if they know that you can paint their homes to fit into the picture of the ideal home they have in mind. We are quite aware that to be highly competitive in the industry means that you should be able to deliver consistent quality painting jobs and you should be able to meet the expectations of your clients at all times.

Jim De Rosa® Painting Company, LLC  might be a new painting company in the Painters industry, but our management team and the owner of the business are professional who have what it takes to grow a business from scratch to become a top brand within the shortest time possible. This is what will count as a competitive advantage for us.

Aside from our robust experience and the expertise of our team of experts, we have a very strong online presence that will enable us attract clients from all across the United States of America. Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry.

It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives. We will also engage freelance marketing agents on a commission level to help us market our services.

9. SALES AND MARKETING STRATEGY

We mindful of the fact that there are stiff competitions in the painting market in the United States of America, hence we have been able to hire some of the best business developers to handle our sales and marketing.

Our sales and marketing team will be recruited based on their experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the organization. The training is not restricted to only our full – time employees but also our freelance brokers that are scattered all over the United States of America.

Our goal is to become one of the leading painting companies in the United States of America which is why we have mapped out strategies that will help us take advantage of the available market and grow to become a major force in the industry. Jim De Rosa® Painting Company, LLC is set to make use of the following marketing and sales strategies;

• Introduce our business by sending introductory letters alongside our brochure to stakeholders in the real estate industry, government public works department, also property owners and potential clients in the United States of America
• Promptness in bidding for painting contracts
• Advertise our business in real estate/property magazines and websites
• List our business on yellow pages (local directories)
• Attend real estate related expos, seminars, and business fairs et al
• Create different packages for different category of clients in order to successfully paint their homes / properties
• Leverage on the internet (social media platforms) and our official website to promote our business
• Encourage word of mouth marketing.

Sources of Income

Jim De Rosa® Painting Company, LLC is established with the aim of maximizing profits in the Painters industry. We have successfully built a vibrant real estate network that covers the whole of the United States of America so as to help us build a profitable business. Below are the sources we intend exploring to generate income for Jim De Rosa® Painting Company, LLC;

• Nonbuilding painting

10. Sales Forecast

It is a known fact that as long as there are facilities and home owners in the United States of America, there will always be need to for them to remodel their homes from time to time to conform with the trends in the neighborhood or city. Hence the demand for the services of painting companies to help them solve these needs.

We are well positioned to take on the challenges that are synonymous to painting businesses in the United States, and we are quite optimistic that we will meet our set target of generating enough income/profits from our first month of operation and grow the business beyond New Jersey to other states in the United States of America within record time.

We have been able to examine the painting line of business, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions peculiar to similar startups in New Jersey.

Below are the sales projections for Jim De Rosa® Painting Company, LLC it is based on the location of our business and the painting and related services we will be offering;

• First Fiscal Year (FY1):  $200,000
• Second Fiscal Year (FY2):  $500,000
• Third Fiscal Year (FY3):  $1.2 million

N.B : This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and any major competitor offering same services as we do within the locations where we have a strong business presence. Please note that the above projection might be lower and at the same time it might be higher since some factors are beyond our control.

11. Publicity and Advertising Strategy

We have been able to work with our consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to take the Painters industry by storm which is why we have made provisions for effective publicity and advertisement of our company. Below are the platforms we intend to leverage on to promote and advertise our painting business;

• Place adverts on both print and electronic media platforms
• Place our flexi banners with our company’s logo and contacts in every property we are painting
• Sponsor relevant TV shows so as to be able to communicate our brand and what we do
• Maximize our company’s website to promote our business
• Leverage on the internet and social media platforms like; Instagram, Facebook, Twitter, LinkedIn, Google+ and other platforms (real estate online forums) to promote our business.
• Install our billboards in strategic locations
• Distribute our fliers and handbills in targeted areas from time to time
• Attend landlord and residence association meetings with the aim of networking and introducing our business.
• Ensure that all our workers wear our branded shirts and all our vehicles are branded with our company’s logo.

12. Our Pricing Strategy

Part of our business strategy is to ensure that we work within the budget of our potential clients to help them paint their homes and facilities to meet their expectations. It is the practice in most parts of the world for properties to be valued by professionals based on the area the facility is located, the type of facility and other factors.

Since we are not directly in control of the pricing system in the real estate industry, we can only abide by what is obtainable when it comes to fixing the price for a painting contract. But one thing is certain, we will ensure that we deliver excellent jobs when have we are contracted to do so.

Lastly, we will ensure that we keep our fees below the average market rate by keeping our overhead low and by collecting payment in advance. In addition, we will also offer special discounted rates to our clients from time to time especially when they recommend clients to us.

• Payment Options

At Jim De Rosa® Painting Company, LLC our payment policy is all inclusive because we are quite aware that different people prefer different payment options as it suits them but at the same time, we will not accept payment by cash because of the volume of cash that will be involved in most of our transactions. Here are the payment options that Jim De Rosa® Painting Company, LLC will make available to her clients;

• Payment by via bank transfer
• Payment via online bank transfer
• Payment via check
• Payment via bank draft

In view of the above, we have chosen banking platforms that will help us achieve our plans without any itches and we will also pay our freelance sales agents with same platforms.

13. Startup Expenditure (Budget)

This is what it would cost us to set up Jim De Rosa® Painting Company, LLC in the United States of America;

• The total fee for incorporating the business in The United States of America – $750.
• The budget for permits and license – $2,000
• The cost for hiring Consultant – $2,500.
• The cost for computer software apps (Accounting Software, Payroll Software, CRM Software, Microsoft Office, QuickBooks Pro) – $7,000
• The budget for insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $5,400.
• Cost for payment of rent for a suitable office facility with enough space in Newark – New Jersey for 12 month at $1.76 per square feet in the total amount of – $105,600.
• The cost for office remodeling (construction of racks and shelves) – $20,000.
• The cost for equipping the office (computers, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) – $15,000
• The cost for the purchase of painting equipment and accessories – $30,000
• Other start-up expenses including stationery ($500) and phone and utility deposits ($2,500).
• Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $100,000
• The cost of launching our official website – $600
• Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $5,000

Going by the report from the market research and feasibility studies conducted, we will need over two hundred and fifty thousand (250,000) U.S. dollars to successfully set up a small scale but standard painting company in the United States of America.

  Generating Startup Capital for Jim De Rosa® Painting Company, LLC

Jim De Rosa® Painting Company, LLC will be owned and managed by Jim De Rosa, his immediate family members and other business partners. They decided to restrict the sourcing of the start up capital for the business to just three major sources.

• Generate part of the startup capital from personal savings and sale of stocks
• Generate part of the startup capital from friends and other extended family members
• Generate a larger chunk of the startup capital from the bank (loan facility).

N.B: We have been able to generate about $100,000 ( Personal savings $80,000 and soft loan from family members $20,000 ) and we are at the final stages of obtaining a loan facility of $150,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and the business structure. If all of these factors are missing from a business, then it won’t be too long before the business closes shop.

One of our major goals of starting Jim De Rosa® Painting Company, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to offer our painting services a little bit cheaper than what is obtainable in the market and we are prepared to survive on lower profit margin for a while.

Jim De Rosa® Painting Company, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry and they will be more committed to help us build the business of our dreams.

Check List/Milestone

• Business Name Availability Check : Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Renting of Office Facility and remodeling the facility in Newark – New Jersey: Completed
• Conducting Feasibility Studies: Completed
• Generating capital from the CEO / President and Business Partners: Completed
• Applications for Loan from our Bankers: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents and other relevant Legal Documents: In Progress
• Design of The Company’s Logo: Completed
• Printing of Promotional Materials: Completed
• Recruitment of employees: In Progress
• Purchase of the needed painting equipment and accessories, furniture, office equipment and electronic appliances: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business (Business PR): In Progress
• Health and Safety and Fire Safety Arrangement: In Progress
• Establishing business relationship with key players in the industry (networking and membership of government contractor’s association): In Progress

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HOW TO START YOUR OWN PAINTING BUSINESS

There are several key considerations when starting a new painting company. Take the time to do it right, and put yourself on the path to success.

Create an Identity

• What makes you stand out?
• What will make people remember you?
• What will make people spread the word about your good reputation?

Register Your Business Legally

Check your state’s business regulations.

• Your business name and location
• Your ownership structure: Is it just you? Or you and a partner or partners?
• Do you have a registered agent who receives legal documents on behalf of your company?

Make Sure You’re Insured

• Workers’ compensation
• Unemployment insurance
• Disability insurance
• Auto insurance for any vehicles you use

Get Equipped

Developing an Online Presence Is Time Well Spent

Get Connected

• Determine the start-up supplies you actually need, and what options are best for your jobs.
• Choose products and tools that will work best for your specific job (e.g., Scuff-X ® for a clothing retailer who wants scuff-free walls, Aura ® Bath & Spa for a bathroom project, etc.)
• Get job leads in your area.
• Introduce you to potential customers.

Staff Up (or Not)

Starting a new painting company lets you be your own boss.

How to Estimate Paint Jobs

Avoid potentially costly mistakes and headaches by being buttoned-up up front.

Why You Need a Business Plan—and How to Do It

Taking the time to create a thorough roadmap can help you find your way to success.

How to Name Your Painting Business

The right name needs to be memorable, differentiating in your marketing, and enduring.

Grow Your Business

Increase Productivity

Looking for more business info?

Get product and business support with guidance from someone who understands your needs.

• Received a document?

How to Start a Painting Business: 9 Keys to Growth & Success

20 articles

If you’re looking to start a painting business, it’s time to get rolling — or brushing, or spraying. Industry research reveals that the US painting industry includes over 255,000 businesses with total annual revenues exceeding $35 billion. It’s an excellent time to consider starting a painting company, as both the residential and commercial sectors are experiencing a wave of new construction, and that means opportunities for painters. 

Moving from working as a painter to starting your own business may seem like a daunting process, but it doesn’t have to be. Establishing a business legally is a straightforward process, and creating a plan for growth is exciting. As you get deeper into the process, you’ll get to tackle challenges with cash flow, marketing, hiring, and more. 

We’ve covered everything you need to know in our guide, so keep reading to get a handle on the key steps to take when starting a business as a painter. 

Table of Contents

1. Start right by registering, licensing, and insuring your business

Handling the fundamentals is like putting on a coat of primer: It sets you up for success later. Starting a business starts with the legal and logistical nuts and bolts that get you ready for growth later on. 

Here are a few key steps to make sure you cover:

• Register your business with your state’s Secretary of State. You’ll need a name for your business entity and a business structure — often a sole proprietorship or limited liability company (LLC). 
• Get the proper license and insurance according to your state’s requirements. We have a contractor licensing guide for every state you can refer to. 
• Obtain a business bank account and any software or staff you’ll need for accounting and bookkeeping. It’s important to keep your business’ finances separate from your personal accounts. 

Once your business is registered, licensed, insured, and financially prepared, you’re ready to start thinking about how to grow your business from the ground up. 

2. Create a plan for growth

The first step in growing your painting business is to create a growth plan. Start with your business plan – if you didn’t have a business plan when you started your painter’s business, now would be a good time to write it down. Below, we’ve listed some items your business plan should definitely include. 

Set goals for your business

Goals may include the revenue you want to generate over the next five years, the number of new jobs you will take on, or targets for hiring employees. The clearer you can be with your growth objectives, the easier it is to determine what resources you need in order to accomplish them. 

Get clear on your customers

Are you going to specialize in a specific niche, or diversify your client base? Will your business focus on residential customers or commercial painting projects ? The audience you are trying to reach — and the types of painting jobs you want to take on — will determine your marketing strategy and hiring requirements, as well as other business decisions.

Analyze your competition

Once you’re clear on your goals and the types of painting projects you’re going after, look at what your competition is doing. What kinds of jobs are they bidding on? How can you differentiate your company from existing businesses?  

Action item: Create a growth plan for your painting company.  Why it matters: Avoid the most dangerous business error of all: “Failing to plan is planning to fail.” 

3. Keep the cash flowing as smoothly as your paint

Here’s a little-known fact about growing a painting business: It can be incredibly cash-hungry. If you start growing without proper financial management, you will quickly find your company out of cash and in bankruptcy court. That’s not an overstatement: Cash flow is the number one reason why painting contractors fail . 

In order to grow, a painting company must proactively manage cash flow — or you’ll end up doing about as well as a clogged paint sprayer. Since you’re a seasoned painter, you know that payments can lag behind job completion—sometimes way behind. But your costs keep adding up, and you need cash on hand to continue hiring skilled painters, buying paint and equipment, and taking on more or bigger painting jobs. 

To grow your painting business sustainably, it’s not enough to be a Master Painter, you need to be a master of your cash flow . 

Becoming a successful business owner means knowing when to delegate and when to stay involved. When it comes to cash flow, it’s important to always have your finger on the pulse. 

Review your cash flow regularly

If you have an accountant, work with them to create a real-time view of your cash flow that you can check at any time. Even without a dedicated accountant, you can use a cash flow forecast to predict your cash needs for the upcoming week, month, or year. Revise your projections to include actual expenses and revenue to make sure your model is accurate. 

Modern construction accounting software can take into account expenses, accounts payable, and accounts receivable to help you spot cash flow problems before they sink your business. 

WATCH : How to calculate cash flow for a construction project  

Use cash flow to inform your business decisions

When making financial decisions for your painting business, operate with certainty rather than assumptions. Cash flow predictions and analytics are useful, but you’ll also want to lean on cash flow statements from past months and years that give a true picture of how your business is doing. 

Beyond staying on top of cash flow as an owner, you’ll also want to make sure that you develop operational excellence among your team as your business grows: prompt invoicing , strong payment terms, and efforts to drive down costs where possible. 

Action item: Evaluate a recent cash flow statement and develop a real-time cash flow dashboard. Make it a priority to check in on your business cash flow at least weekly. Why it matters: If your business is cash flow negative, it doesn’t matter if you have significant revenue coming in down the line. Growing and maintaining your painting business means having positive cash flow to expand your workforce and take on new jobs. 

4. Set pricing carefully — don’t just bump it 

While cash flow is critical for survival, profit is essential for growing a painting business. Your profit is the money you will use to reinvest in the business for continued growth. Too many painters fail to price their services correctly, either aiming too high to attract customers or too low to maintain profitability. 

Read more: The profit roadmap for contractors

For many business owners, nailing down the right pricing structure feels like a mystery, and some resort to simply copying competitors in hopes of success. But here’s the truth: Painting businesses charge wildly different rates ( $2 to $5 per square foot for residential painters or $2 to $6 per square foot for commercial painters ), and you need to figure out the price that will work for your business.

Your prices are going to depend on your region, whether you’re doing commercial or residential paint work, and your specialization. Fortunately, getting the price right isn’t difficult, and you only have to follow one simple rule: The customer has to cover every cost . 

When you’re just doing individual jobs, it’s easy to forget about the cost of doing business — but when you’re running a business, you need to remember that every job you take on needs to cover overhead as well. In addition to materials and labor for painting a new or remodeled building, you need to cover the cost of staff, offices, benefits, and more. 

Oh, and you do want to make a profit, right? Your pricing needs to take all of this into account. The average profit margin across the painting industry is around 8% , but you may adjust that number higher or lower depending on your business needs.

Keep reading: Contractor’s guide to profit and overhead

Action item: Take a look at your current hourly rate and billable hours, then determine whether they are actually covering your costs and working toward making a profit. Why it matters: Too many businesses fail because they undercharge or overprice their services. Make sure you know the real cost of running your painting business and price accordingly. 

5. Hire & retain employees that act as catalysts 

Your employees are the face of your painting business, which means that whoever you hire will represent your company in front of your customers. Successful business owners put their people first because a thriving team leads to a growing company. Just like paint has catalysts to improve its finish, you want to hire catalysts that improve the quality of your company’s offerings.

Update your benefits package to remain competitive

The more you can offer potential employees, the better employees you will attract. Strong health benefits, retirement plans, and leave policies may seem like high costs, but the value of productive employees can quickly outweigh the initial investment. Hiring, training, and developing an excellent team is the best investment you can make in growing your painting business. 

When your employees consistently treat your customers with respect and demonstrate professional knowledge, growth comes naturally. Also, when you invest in your employees, they’re more likely to stick around, helping you to keep turnover low and engagement high. 

Provide training opportunities

Create onboarding procedures for every position that orients new employees to skills as well as company culture. While standardizing training for painters is important, don’t forget about your back-office employees. Make sure your office staff has access to tools and courses that help them do their jobs more efficiently.

Training doesn’t have to be expensive. Levelset’s Payment Academy offers free courses on collections and credit, construction financial management, and more. 

Make it clear how employees can grow from the start. Rather than providing a job, open up a career path for everyone who works in your painting business. Strong employees are attracted to growth opportunities, so provide incentives and promotions for performance to everyone who works for you.

Action item: Look at your processes for hiring, training, and development to identify areas for improvement.  Why it matters: Employees are the single greatest asset of any painting business. Treat them accordingly. 

6. Keep consistent policies and procedures across the board

As your business grows, you’ll have less direct involvement in the day-to-day operations of the company. Too many business owners try to fight fires or manage every aspect of operations, but this is a recipe for burnout and stagnation.

Instead, you need to optimize your operations by building great processes, writing them down, and trusting your employees. Take all that you’ve learned about painting, sales, and more—and add in knowledge from your employees. Use this accumulated experience to standardize how your team handles calls, evaluates customer creditworthiness , and manages painting projects. 

You need to have clear, written instructions for every company process. A policy serves three purposes: 

• Keeps everyone on the same page
• Saves supervisors from having to repeat information
• Ensures that wisdom isn’t lost when you have employee turnover 

Trust your employees

Once you have standard procedures, let your employees follow them. Too many business owners try to micromanage, but this approach is rarely successful. Instead, refine your procedures over time and use ongoing training to empower your employees to handle every situation. 

In the end, your business is a collection of many different processes—from simple phone greetings to deciding whether to file a mechanics lien for non-payment . Having clear, unified processes for every aspect of your painting business improves productivity and prevents knowledge from disappearing when employees leave your company. 

Action item: Identify processes that need standardization, write out clear instructions for those processes, and keep going until you have documentation to handle (nearly) every aspect of your painting business. Why it matters: As you grow, you’ll have less direct control over your business. By crafting great processes, your wisdom stays in every aspect of the company even as your attention moves toward strategy rather than day-to-day operations. 

7. Focus on marketing & sales to increase your coverage

You can have the best painters, office manager, and accountant on the planet, but if you don’t win jobs, your painting business will not grow. Build a sales and marketing team that understands your target audience – and what gets them to say “yes” to the sale. 

On residential jobs, the homeowner is dealing with a potentially large outlay of funds and may be in a stressful situation — like a major home renovation or preparing for a sale. You want your sales staff to act with empathy and understanding. 

If your goal is to get more commercial or public jobs, you’ll need someone experienced in writing winning bids. Bidding on a private commercial project can be different from bidding on a government job – your team should understand the difference.    

Both residential and commercial painting companies need to be able to demonstrate their value to potential customers by addressing their needs and maintaining professionalism.

Growing a painting business requires that customers know who you are and how to find you. Having a recognizable brand, a strong online presence, and an easy-to-use website are vital for growth. 

According to Findstack , 72% of people use Google reviews to find businesses, and those with at least 200 reviews generate twice as much revenue on average . As a residential painting business owner, you need to recognize that the majority of your marketing efforts must go toward optimizing for Google searches, which is where the majority of your potential customers are likely to find you when they’re looking for help with large and small painting jobs for the interior and exterior of their homes.

Optimize your website

Either hire an outside agency or an internal specialist who can help you rank in Google for relevant search terms, like “painter in X city.” You’ll want a strong domain name (www.yourdomain.com), well-written marketing copy, and perhaps even a regularly updated blog with information that supports potential customers. 

You can have your business show up in Google Reviews and on Google Maps by signing up for a business profile . 

Your website needs to work well on both computers and mobile devices, have your contact information readily available, and include a contact form that is easily accessible. When your potential customers find your website from a Google search, make it easy for them to get information about your business and reach out to you.

Feature recent painting projects that highlight the types of projects you want to work on. Write up the project details, like problems you solved, your standards of cleanliness during construction, and the communication process with the project owner. 

Create a recognizable brand

Beyond optimizing your website and working toward better rankings on Google, you’ll want to make sure that you have a strong brand. Considering your business’ colors, logo, slogan, name, uniforms, trucks, and more can make marketing easier—and make it easier for your business to spread by word of mouth.  

If people know about your business, you’ll get more business. Once you’re an established name in your area, marketing becomes easier, but it never loses importance. Staying ahead of the competition means continually reaching out to potential customers and positioning your painting business as the best solution to their needs.

4 techniques for closing sales

Here are four ways that strong painting businesses get the sale for both repair work and new installations:

• Participate in a sales training program that includes role-playing over the phone and in person. 
• Encourage your salespeople to spend more time listening than speaking, and to take notes on what the customer is looking for. 
• Ensure your sales staff do a thorough inspection , provide options, and use the echo customer’s language to share that they’ve understood.
• Provide a detailed proposal on-site , including transparent pricing and line item costs that give the customer a clear sense of your value. 

Action items: 

• Evaluate your sales performance and audit your processes to see if there are areas for improvement.
• Review your sales and marketing materials regularly to make sure they speak to the audience you’re trying to attract. 
• Take a close look at your current branding and your online marketing efforts to find areas for improvement.

Why it matters: Without a strong sales and marketing machine, there are no jobs to bring in revenue for your business. Making sure that your sales staff is well trained is a crucial part of running a successful painting business. 

The majority of your customers are looking for you online, so making sure you stand out there is critical for business success. And it’s not just important for residential jobs — even developers and general contractors will look up your website as part of their prequalification process to determine your ability to complete a commercial job. 

8. Know the laws that apply to your painting business

Construction law is complex, and painting contractors have a lot of rules to follow. Failure to comply with building codes and other regulations can result in project delays, steep financial penalties, or a loss of your contractor license.

In addition to property rules, painter’s licensing requirements , and other laws, you also need to be able to read and understand your construction contract thoroughly. If you’re not careful, you may end up agreeing to contract terms that delay payments or hurt your business financially. Someone at your company should review every contract — even better, hire a legal team to do it for you.

9. Become a more durable leader

Becoming a strong leader for your business is an important step if you want to grow. Business leaders with a clear vision, strong communication, and deft organization are able to overcome challenges and make wise decisions as they grow. 

Many painting business owners started out as painters or supervisors. The upside of that path is that you have excellent background knowledge about the industry that can inform decisions about materials, techniques, or sales. On the other hand, very few people are natural-born leaders, and working as an individual painter doesn’t always offer the opportunity to develop leadership skills. 

So start working on becoming a better leader right now. 

Always keep communicating

As the business owner, it’s easy to get stuck in your silo — but it’s a mistake. Your painters, salespeople, customer service representatives, accountants, and more are at the front of your business and have information you need. Take time to ask three simple questions : What’s going well? What isn’t? How can I help you?

Stay open to feedback

It’s easy to get caught in a rut doing business the way you’ve always done it. Be open to new insights by meeting with other business owners, attending classes, joining professional groups, and getting feedback from members of your team. 

Never stop learning

Leadership skills develop over time and by incorporating insights from many sources. Listen to leadership podcasts , read leadership books , and take leadership classes with the intent to never stop growing as a leader.

The success of your business starts with your own success as a leader. Build from your strengths and work on your weaknesses to develop into a business owner capable of growing and expanding where you want to be. 

Action item: Make a plan to become a better business leader this year.   Why it matters: Your painting business’ success starts with you. Leadership skills take time to develop, and these skills will help you gain the insights you need for continuous growth. 

Daniel Gray

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Sales & Marketing Plan for a Painting Business (Example)

• January 9, 2024
• Business Plan , Sales & Marketing Strategy

Starting and operating a successful painting business requires not only exceptional painting skills but also a strategic approach to sales and marketing. We have prepare this comprehensive guide to help you in crafting an effective sales and marketing plan for the business plan of a painting business.

It covers market analysis to understand competitors and client needs, building brand identity, exploring marketing channels to engage clients, and implementing sales strategies for revenue growth. Let’s dive in!

Painting Business Plan

Fully editable 30+ slides Powerpoint presentation business plan template.

Download an expert-built 30+ slides Powerpoint business plan template

Market Analysis

Understanding the dynamics of your market is fundamental to devising a successful sales and marketing strategy. Conducting a thorough market analysis will provide insights into your competitors and your target clientele.

Competitive Analysis

• Identify competitors: Thoroughly research other painting businesses in your area, evaluating their service offerings, pricing structures, customer reviews, and marketing strategies. This analysis helps identify areas for differentiation and potential niches to exploit.
• SWOT Analysis : Conduct a comprehensive SWOT analysis for your painting business. Identify your strengths, weaknesses, opportunities, and threats concerning competitors. This analysis serves as a foundation for formulating strategies that capitalize on strengths and address weaknesses.

Target Audience Profiling

• Demographic and Psychographic Insights: Define the demographics (age, gender, income) and psychographics (preferences, lifestyle) of your ideal clients. Understanding these factors guides your marketing strategies and the customization of services to align with client preferences.
• Client Needs and Expectations: Understand what your target audience prioritizes when hiring a painting service—whether it’s reliability, expertise in certain techniques, eco-friendly practices, or timely project completion.

Branding and Positioning

Establishing a strong brand presence is pivotal for setting your painting business apart in a competitive market.

Brand Identity Development

• Craft Your Story and Values: Develop a compelling narrative highlighting the founding principles and values of your painting business. Emphasize your commitment to quality, customer satisfaction, or innovative painting approaches that resonate with your audience.
• Visual Brand Elements: Create a consistent visual identity, including a logo, color scheme, and design aesthetic across marketing collateral, uniforms, and online presence. Visual consistency reinforces brand recognition and credibility.

Market Positioning Strategy

• Define Your Unique Value Proposition (UVP): Clearly articulate what makes your painting business stand out. Whether it’s the use of premium eco-friendly paints, exceptional customer service, or specialization in unique painting styles, emphasize what sets you apart.
• Positioning Statement: Formulate a concise positioning statement encapsulating the distinctive qualities of your business and communicating its value proposition to potential clients. This statement serves as a guiding beacon for all marketing and operational decisions.

Marketing Channels

Utilize various marketing channels to promote your painting business, connect with your audience, and generate leads.

Digital Marketing

Utilize online platforms to expand your reach:

• Website and SEO: Develop a professional website showcasing your portfolio, client testimonials, and service offerings. Optimize it for local SEO to rank higher in search engine results for painting services in your area.
• Social Media: Utilize platforms like Instagram, Pinterest, and Houzz to showcase before-and-after project images, engage with followers, and demonstrate your expertise through helpful content, painting tips, and design inspirations.
• Email Marketing: Build an email list to send newsletters featuring seasonal offers, painting tips, and updates on your services. Engage subscribers regularly to maintain brand awareness and encourage repeat business.

Local Advertising

Connect with your local community effectively:

• Print Materials: Distribute well-designed flyers, brochures, or postcards to local community centers, real estate agencies, coffee shops, and local businesses. Advertise in local newspapers or magazines to reach a broader audience.
• Community Engagement: Sponsor local events, home improvement workshops, or neighborhood gatherings. Offer demonstrations or talks on painting techniques or color trends to showcase your expertise and build rapport within the community.
• Networking and Partnerships : Collaborate with interior designers, real estate agents, or home renovation companies for referrals and joint promotions. Building strong partnerships can significantly expand your client base.

Promotional Activities

Engage potential clients with enticing offers:

• Seasonal Deals: Launch seasonal promotions like ‘Spring Refresh – 10% off Exterior Painting’ or ‘Holiday Interior Color Makeover’. Offer time-limited promotions to create urgency and drive sales.
• Referral Programs: Incentivize existing clients to refer new customers by offering discounts on future projects or a free color consultation. Word-of-mouth referrals can be a potent source of new business.
• Customer Appreciation Events: Organize events or workshops showcasing painting techniques, inviting past and potential clients. Creating an engaging and educational experience fosters goodwill and brand loyalty.

Sales Channels

Utilize different sales strategies to maximize revenue and client satisfaction.

Consultative Selling

During client interactions, employ consultative selling techniques:

• Customized Proposals: Tailor proposals based on the client’s specific needs, offering personalized paint recommendations, design insights, and project timelines.
• Value-added Services : Highlight additional services like color consultations, surface preparation, or post-painting maintenance to enhance perceived value.
• Up-selling and cross-selling: Offer premium paint finishes, eco-friendly options, or additional services while discussing project details to increase the sale value.

Online Booking and Sales

Simplify the booking process for clients:

• Online Booking Platform: Implement a user-friendly online booking system on your website, allowing clients to schedule consultations or estimate requests conveniently. Streamlining the booking process enhances the customer experience.
• E-Commerce Integration: Sell painting supplies, color swatches, or DIY painting kits through your website. Expanding your offerings to include products complements your services, providing additional revenue streams and customer convenience.

Membership and Loyalty Programs

Foster repeat business and customer loyalty:

• Membership Packages: Create membership programs offering exclusive benefits like priority scheduling, discounted rates for multiple projects, or free touch-up services. Membership programs encourage recurring business.
• Loyalty Rewards: Develop a loyalty program where clients earn points for each project completed, redeemable for discounts on future services or complementary add-ons. Rewarding loyalty incentivizes repeat business.

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Privacy Overview

Artist Business Plan Template

Written by Dave Lavinsky

Artist Business Plan

Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their artist businesses. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write an artist business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is an Artist Business Plan?

A business plan provides a snapshot of your artist business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for an Art Business

If you’re looking to start an artist business or grow your existing artist company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your artist business to improve your chances of success. Your artist business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Artist Businesses

With regards to funding, the main sources of funding for an artist business are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for artist companies.

Finish Your Business Plan Today!

How to write a business plan for an artist business.

If you want to start an artist business or expand your current one, you need a business plan in the proper business plan format . The guide below details the necessary information for how to write each essential component of your artist business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of artist business you are running and the status. For example, are you a startup, do you have an artist business that you would like to grow, or are you operating a chain of artist businesses?

Next, provide an overview of each of the subsequent sections of your plan.

• Give a brief overview of the artist industry.
• Discuss the type of artist business you are operating.
• Detail your direct competitors. Give an overview of your target customers.
• Provide a snapshot of your marketing strategy. Identify the key members of your team.
• Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of artist business you are operating.

For example, you might specialize in one of the following types of artist businesses:

• Antiques: This type of artist business may include the restoration, curation, and auction of antique furniture and other items.
• Art Consultant: This type of artist business involves helping clients find and select art pieces for their own collections.
• Tattoo Artist: Tattoos are a popular way for artists to earn money by tattooing permanent ink art onto their customers.
• Photography: Photographers may specialize in certain categories like wedding photography or nature photography.
• Graphic design: This type of business encompasses all kinds of design from creating logos and marketing materials for businesses to creating websites and designing products.
• Art teacher: This type of artist business involves art instruction and can include anything from teaching an elementary school art class to a recreational painting class, or an online art course.

In addition to explaining the type of artist business you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of clients served, the number of art pieces sold, reaching $X amount in revenue, etc.
• Your legal business Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the artist industry.

While this may seem unnecessary, it serves multiple purposes. First, researching the artist industry educates you. It helps you understand the market in which you are operating. Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends. The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your artist business plan:

• How big is the artist industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential target market for your artist business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your artist business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals, schools, families, and corporations.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of artist business you operate. Clearly, individuals would respond to different marketing promotions than corporations, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other art businesses. Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This may include other sources of art pieces, auctions, or resellers. You need to mention such competition as well.

For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as

• What types of customers do they serve?
• What type of artist business are they?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you make it easier for your customers to engage with your product or service?
• Will you offer products or services that your competition doesn’t?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a artist business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type of artist company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you sell paintings or sculptures, consult on various art pieces, instruct a painting class, etc?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the products and/or services you offer and their prices.

Place : Place refers to the site of your artist company. Document where your company is situated and mention how the site will impact your success. For example, is your artist business located in a busy retail district, a business district, a standalone office, or purely online? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your artist marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

• Advertise in local papers, radio stations and/or magazines
• Reach out to websites
• Distribute flyers
• Engage in email marketing
• Advertise on social media platforms
• Improve the SEO (search engine optimization) on your website for targeted keywords

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your artist business, including answering calls, meeting with clients, billing and collecting payments, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to book your Xth client, or when you hope to reach $X in revenue. It could also be when you expect to expand your artist business to a new city.  

Management Team

To demonstrate your artist business’ potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in managing artist businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing an artist business or successfully running a small curation business.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you meet with 5 clients per day, and will you charge by the hour for art consultation services? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your artist business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a artist business:

• Cost of equipment and office supplies
• Payroll or salaries paid to staff
• Business insurance
• Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and equipment

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your office location lease or a sample of your artist portfolio.  

Writing a business plan for your artist business is a worthwhile endeavor. If you follow the sample template above, by the time you are done, you will have an expert artist business plan; download it to PDF to show banks and investors. You will understand the artist industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful artist business.  

Artist Business Plan Template FAQs

What is the easiest way to complete my artist business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your artist business plan.

How Do You Start an Artist Business?

Starting an artist business is easy with these 14 steps:

• Choose the Name for Your Artist Business
• Create Your Artist Business Plan
• Choose the Legal Structure for Your Artist Business
• Secure Startup Funding for Your Artist Business (If Needed)
• Secure a Location for Your Business
• Register Your Artist Business with the IRS
• Open a Business Bank Account
• Get a Business Credit Card
• Get the Required Business Licenses and Permits
• Get Business Insurance for Your Artist Business
• Buy or Lease the Right Artist Business Equipment
• Develop Your Artist Business Marketing Materials
• Purchase and Setup the Software Needed to Run Your Artist Business
• Open for Business

Don’t you wish there was a faster, easier way to finish your Artist business plan?

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to see how Growthink’s business planning advisors can create your business plan for you.

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