Originally Posted by ProWallGuy

So you think you want to own a painting company…


So for whatever reason, you have decided you want to start a business. More specifically, you want to be a painting contractor. You’ve come to the right place for information pertaining to this choice of careers. But before we get too deep into it, let’s get this out of the way. Buy this book, and read it. Seriously, for your own good, do it. It’s a short, fast, and easy read, and it will set you straight right from the start. It will help you determine if you truly want to own a business, or if you are just a technician who is having an entrepreneurial seizure. I can tell you from experience, and think that most of the professionals on this site that have been in business for 10 years or more will agree that running a painting company isn’t near as easy as most people think it is. In fact it is damn hard. So you painted your buddy’s house, and think you can make a living at it? Read on.


Next, determine if you have enough experience in the industry to successfully run a painting business.* You will need to have more than just the basic knowledge of using a brush and roller. If you have only painted a couple rooms or such for friends or family, you don’t have enough experience to run a successful and profitable company. I would say a minimum of 5 years of actually painting for living would be a decent start. If you’re only 22, and claim to have been painting for 10 years, guess what. Being 12 years old and helping your cousin/uncle/dad/whoever after school and on weekends doesn’t count as experience. Experience starts when you are painting to pay your bills, feed your family, keep your utilities on, etc. If you have less than 5 years experience of actually painting for a living, I highly recommend finding a job with another contractor and gaining some time on the wall and in the trenches.



*If you want to run only the business end of the business, and plan on subcontracting out the labor, then I can’t help you here as that isn’t my experience. Maybe, if you ask really, really nicely, Brian might give you some good input on that business model.



There are a couple books on the market that could also help a newbie paint contractor. These will give you only basic information (nothing beats hands-on experience):


The Painter’s Handbook by William McElroy
Paint Contractor’s Manual by Dave Matis & Jobe H. Toole


The PDCA puts out several good books on the subject. They are fairly pricey, but well worth the money. All the PDCA books can be found at the PDCA store.


The Business of Painting – a basic business management manual for paint contractors
Marketing for Paint Contractors
Effective Business Planning for Painting and Wallcovering Contractors


While knowing the hands-on technical know-how to be able to paint for money, just as important is the ability to be a businessman to run the business. To do this you need to know accounting, bookkeeping, estimating, and have managerial skills. No one is born with these traits, they must be learned somewhere, somehow. If you have no experience, in any of these, I highly recommend looking into some night classes at your local community college. Bookkeeping I & II, Accounting I & II, Taxes for Small Businesses, etc. Most of these classes are cheap, and can be done at night. If school ain’t for you, then start reading. Some basics to start off with:


On the numbers:


How Much Should I Charge? By Ellen Rohr
Where Did The Money Go? By Ellen Rohr
Keeping the Books by Linda Pinson
Markup & Profit by Michael Stone


On estimating:


2008 National Painting Cost Estimator
PDCA Estimating Guide Volume I – Professional Estimating Procedures
PDCA Estimating Guide Volume II – Rates and Tables
Defensive Estimating by William Asdal


Be aware, I see many new contractors come to these forums looking for pricing information. While it is possible that another contractor might be able to help you understand how to price something, it really isn’t feasible for them to tell you an actual price for that task or job. Why? Read this.


And estimating is all about production rates. You need to keep careful track of how long everything you do takes. I also often see contractors asking what a good choice of software is to help them estimate jobs. Here is a news flash for ya: If you don’t know your own production rates, there isn’t a piece of software in the world that can help you. Every piece of estimating software I have ever seen requires you to punch in your own production rates and material usage rates to be able to accurately spit out a final price. Learn to figure out production rates, materials, and pricing on your own before you look for a software shortcut.


Some more books that might help out in the long run:


Run Your Business So It Doesn’t Run You by Linda Leigh Francis
System Buster by Phillip Paul Beyer
The One-Minute Manager by Kenneth Blanchard


One last tip: Read every thread started by PressurePros.


That is about all I can stand to type right now. I welcome all the veteran contractors here to please add to this post with comments, advice, or whatever they can offer to help out the newbies.
Please keep it respectful, and on topic.