In 2010 it was time for me to start my own business. I had just graduated from college after working with another painting company for the last 6 years where I trained other students on all of the aspects of running a painting business. It was a no brainer for me – I KNEW I could run a successful painting company, but I didn’t want to.
I wanted something sexier like an awesome online company, or some new amazing idea nobody thought of. I tried starting a t shirt company that I thought was going to take off.. it didn’t.
I started a consulting business which I thought I would love… I didn’t love it.
I did a multi level marketing business that I thought would make me rich without working… I hated it.
While I was starting all of these other businesses, I had a painting company on the side. For the first 2 years I really didn’t bother trying to grow my painting company – I didn’t want to! I wanted something else!
And after 2 years and 4 other businesses, I realized something…
It could take 5 years… or 10 years… or 20 years… before I create that monster business I was after. And for the last 2 years I’ve been avoiding the one business that has been profitable, successful, and growing with ease…. My painting business! So I thought, maybe it’s time I start to invest my energy into my painting business.
What I realized I LOVE about the painting business…
- The market isn’t going anywhere and it’s huge. Roughly 10% of homes will be painted every year. There are always houses that need to be painted, and they will always need to be painted. Other businesses could grow and die in a short amount of time. Technology could make them obsolete. But painting? It’s not going anywhere… and the market is only getting bigger.
- The competition is terrible. Everyone has heard stories about the horrible contractor they worked with, the painter that didn’t show up on time, the guy who didn’t finish the job, the person who took payment and ran off with it… These are the people you compete with when you start a painting business. When nobody else even shows up on time, it’s pretty easy to win business.
- Profit margins are great. It’s not hard for us to make a 20%+ profit margin consistently. In fact, when I started my business I was making over 30% margin on every job without doing any painting.
- Low start up cost. You can start your painting company for less than $1,000, depending on the state you are in and licensing fees. I started my company for less than $300 and made a profit in the first week. No, you do not need to go out and buy equipment, ladders, sprayers, brushes, etc…
- Easy to find workers. Remember – the competition is terrible. Not just for finding customers, but for keeping employees. Have you ever worked for someone who treats you like garbage? Ever worked for someone who doesn’t pay you on time? Doesn’t pay you well? It sucks… and that’s how a lot of the painting business works. You can hire the best people and keep them on your time by being a better boss. Lots of people know how to paint, so it’s not hard to find help.
- Simple. It’s a simple business. There isn’t a lot to painting. It’s pretty straight forward. So there isn’t a lot to learn – it’s not like learning how to develop software. I can teach you to paint a house much faster than I can teach you to write code (I don’t even know how to write code). But anyone can learn to paint a house, faster than how to write code!
I think what I like more than anything though… I was able to grow my company to a $1,000,000 painting business in 4 years, without ever working more than 20 hours per week.
It’s why I’ve helped several friends start painting companies who are all crossing the $1,000,000 mark… 3 of my best friends own $1,000,000 painting companies in Colorado, who also started their business within the last 5 years.
It’s why I’ve helped hundreds of people start painting companies.
I love entrepreneurship, I love entrepreneurs, I love being self employed, and I think you’ll love it too.
I’ve had the opportunity to travel all over the world, play tons of golf, spend time with friends, go to weddings, take time off, sleep in when I feel like it, and really create the life I want to have because of the painting business.
Before you start any business, think about WHY you want to be in business and share it with me in the comments! I’d love to hear why being self employed, and working for yourself is important to you – what would that make possible in your life?
Do you want to start your own painting company? I’ve been there, and it can be a little overwhelming getting started. So I made a “Checklist for Starting a Painting Business” so you know you covered everything and a “$1,000,000 Business Blueprint” to give you some direction. You can get them here:
Have a question or something to add? Please share in the comments.