How to Calculate Start Up Costs for a Painting Business

A painting business can require a large investment of start up funds to get the business going. To calculate the costs of starting a painting business, consider the following costs you are likely to have during the first three to six months. If you will be borrowing funds to get your business started, use these calculations to help you get started.

Instructions

Difficulty: Moderate

1. Estimate equipment start up costs for the painting business. This can include spray guns, drop cloths, rollers, ladders, and other equipment the business needs. To determine the costs of the equipment your organization needs, look for online distributors or commercial wholesalers available locally.
2. Determine business start up costs for your area. This can include a business license, insurance for your business and employees, licensing for painters, getting a tax identification number and loan application fees.
3. Figure out what office space and other asset costs will be. This can include a work truck (including purchase or lease payment, insurance and maintenance) as well as rent for an office, accounting software and computers, as necessary.
4. Think about advertising and marketing expenses that can get your business out there. Newspaper ads, flyers, phone book advertisements, or online advertisements are examples. Business cards and referral cards can be helpful as well.
5. Calculate ongoing expenses of your start up painting business costs. Ongoing costs can include utilities, rent, supplies needing replenishing (paint, brushes, other tools) and some forms of advertising. Ongoing expenses for three to six months should be considered.
6. Add initial investment costs to ongoing expenses. These figures are based on rates and costs for your individual location based on the types of clients you have, as well as the overall costs in your area.