Do you enjoy working with your hands? Do you have a creative side that’s currently untapped? Do you possess a good head for heights? If you answered ‘yes’ to the previous questions, a business in the painting and decorating sector might be the right fit for you.
With a successful painting and decorating company, you can enjoy a financially rewarding venture that supplies a varied day-to-day schedule. However, it’s important you avoid the common conception that this business type is easy money. A lot of time and effort is required before you can start reaping the potential rewards on offer.
With that in mind, below are four mistakes you have to avoid when starting a painting and decorating business.
Mistake #1: Failing to budget for your business
It’s true: a painting and decorating business doesn’t require a massive financial outlay to get started. In fact, it is one of the more affordable entrepreneurial routes you can take. The equipment you require isn’t too expensive, staff members are not necessary (at least at the start), and advertising to a local market can be relatively cheap.
However, when you total up all of the expenses, you still require a notable sum of money to cover everything. Due to this, you might have to think about funding options such as a bank loan or borrowing from your family.
It’s also not just that initial outlay to worry about. You also have to consider the loss in earnings that come from starting a new business. Do you have enough funds saved up to cover your personal expenses? After all, it’s unlikely you will be turning over a viable profit right from the start, and you have to plan for this situation in advance.
Mistake #2: Not having the necessary equipment
As a painter and decorator, it’s easy to feel like you only require a relatively small number of tools to get the job done. The likes of paintbrushes, a paint tray, masking tape, sandpaper, and a stepladder are all a given. Yet there’s more to the equipment game when it comes to running a successful – and effective – painting and decorating business.
For example, one tool you should always have in your repertoire is a heat gun. Heat guns provide you with an excellent solution to strip paint, varnish, and wallpaper. Rather than go at this with a scraper – and waste valuable time in doing so – you can use a heat gun to clear the walls in double-quick time.
With the right collection of tools, you can improve the quality of your work while reducing work time. The result: customer satisfaction goes up, as does the reputation of your business.
Mistake #3: Assuming that decorating is easy
A lot of people take the viewpoint that decorating is a simple task. All they need is to buy a couple of tools, hand out a few leaflets, and begin painting walls. Yet this is an assumption you should avoid.
To reach a professional standard – aka the standard customers are paying for when they enlist your services – you need to put in the training. Now you don’t necessarily have to gain qualifications. What you should do, however, is receive guidance from other decorators. By training with them and picking up valuable knowledge, you are in a better position to hit the standards required with your business.
Mistake #4: Think customers will simply come to you
Once you have established your business, it’s fair to assume you will get plenty of business due to word of mouth. This is certainly the case if you supply a premium service for customers.
Yet when you’re just starting up, the impetus is on you to go out there and attract customers to your business. If you simply sit back and expect them to come to you, the more likely scenario is they select one of your rivals.
There are numerous ways to promote your new painting and decorating business. If you go down the traditional route, leaflets are a good way to drum up local business. You should also take the time to create a dedicated website. This can serve as the central hub for your business, a place where customers can easily find out your services, prices, operating hours, and so on.
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