One of the biggest reasons why starting a painting business is a good idea is because there is a huge market for painting.
This service is always in demand for homeowners and businesses around the country so, it can provide a steady source of income and the opportunity to be your own boss. For those new entrepreneurs who don’t want to start from scratch, purchasing a painting franchise may be the way to go
There’s a strong housing demand in virtually every region of the country. With a renewed interest in maintaining living spaces, home improvements sales are projected to top $510 billion by mid-decade. That means the demand for services from a painting franchise goes up as more houses are built.
Not only is the market large though, but it’s also a recurring market. This means that even though you’ve painted a house or an office this year, in a few years they will likely need to be repainted hence the client will give you a call. The size of the market is constantly growing as well. Think about how many new homes and businesses have opened in your area over the past few years. All of those structures needed to hire a painting company because painting is often a need, not a luxury.
Types of Painting
There are so many types of painting jobs out there for the taking. You can choose to specialize in residential interior or exterior painting for homeowners, new construction painting, or residential painting for builders. There are also commercial painting jobs for offices, apartment buildings, industrial facilities, and more. The options are endless with the size of the market!
Why a Franchise
When you invest in one of the best painting franchises, you tap into a well-established brand with systems and strategies in place to help you grow from day one. A painting franchise gives you an advantage to learn from an entire team of like-minded go-getters who want to expand the brand and build their own businesses.
That’s not something you can find when you try to start a business on your own. Instead of learning everything from scratch, franchise ownership gives you the keys to a complete set of resources to launch your business.
Your role as a franchise owner is to run the business. That means hands-on management of sales, marketing and operations – not prep, prime and paint. It also means knowing how to hire the right people to provide service that goes beyond customer expectations.
If you’re interested in starting a painting franchise, you’re in luck. Understanding the painting business is relatively simple and easy for someone with limited painting experience to pick up. You don’t need to have a background in painting to wrap your head around how the painting business works and get started. This makes it relatively easy to start a painting franchise with no experience.
Competition
You may think your community has a crowded field of painters who pop up in a local search. Take a closer look, and you’ll probably realise few of those listings are for professional painting contractors who know how to deliver the right customer experience. That makes for a fragmented painting industry. No contractor service holds more than five percent of the market. That means plenty of opportunity for you to transform the industry in your area as a painting franchise owner.
While competition in the painting industry certainly exists, the companies you’re competing with are majorly lacking. If you look for painting companies in your area, you’ll likely find hundreds of them. But just because there are a lot of them, doesn’t mean you have tough competition.
Most of these painting companies are not business-savvy. If you read their reviews (if they even have reviews!), you’ll find that they aren’t good at communicating with their clients, they’re always running fashionably late, and they provide subpar paint jobs, or don’t reply back to their clients. On the business side of things, they often don’t understand how to run a business, lacking a streamlined sales process, and ignoring important marketing channels. While there might be a lot of competitors out there in your city or state, most of them aren’t real competition.
It’s easy to say you’re a painter, but it’s a lot harder to prove that you’re a professional painter. If you’re able to get your name out there as a reputable painting company in your area, you’ll be able to turn a decent profit quickly and stand out from the competition.
