How to Start a Residential Painting Business

For the frugal entrepreneur, a residential painting business is a good choice because of the low start-up costs. It is also one of the easiest businesses to start. This business can be quite lucrative and if you plan well, it can provide year-round profit. Read on to learn how to start a residential painting business.

Instructions

1. Pick a name for your business and file for a Tax ID number with your state's Department of Revenue. Apply for a business license, if needed in your area.

2. Call around to local insurance companies and compare rates. Tell them what type of business you're starting and ask them to explain coverage options.

3. Open a bank account and establish a line of credit to start your residential painting business.

4. Find reliable help unless you are planning to be a one-man show. When you look for help, make sure you ask for applicants who have experience in painting. You can always hire an apprentice, but when you are starting a new business, it's best to have the most professional, knowledgeable team possible. You must build a good reputation in order to get referrals.

5. Get set up with a paint supply company. This is where your line of credit will be important. Establish a good relationship with them and they'll be a great source of referral business. Set yourself up with local builders in order to get new construction business. Print flyers to advertise your residential painting business to the community and you'll get individual jobs for re-painting homes, apartments and condominiums.

6. Purchase your equipment to start a residential painting business. Get a good quality spray painting rig for making big jobs go faster. You'll need ladders and a supply of brushes in various sizes.