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Old 07-18-2010, 10:32 AM   #1
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Default Hello from Indy

Hey guys, I am new here and been painting about 15 years on and off. I have mainly done residential work, from high end custom with laquered wood to quickie apartment repaints. I also do drywall, mainly small to medium repairs.
I haven't painted "full time" for about 8 years, but have still been doing small side jobs here and there on weekends and evenings. I am ready to take the plunge and start a company here in indianapolis with a couple partners. We are going to start out focusing on interior repaints, mainly apartments.
Like I said I have been out of the game for awhile, so will be trying to pick the brains of anyone here who will let me.

Thanks in advance for any advice.
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Old 07-18-2010, 10:47 AM   #2
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Apartment repaints with partner's? Sweet move!
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Old 07-18-2010, 10:50 AM   #3
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good luck! should be low overhead doing apartments.
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Old 07-18-2010, 10:56 AM   #4
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Thanks, that was kind of the plan.
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Old 07-18-2010, 11:00 AM   #5
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Thanks, that was kind of the plan.
Welcome.

So who's running sales in your Biz.?
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Old 07-18-2010, 11:01 AM   #6
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Do you guys split an equal wage among you?
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Old 07-18-2010, 11:04 AM   #7
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I'm also thinking about starting a painting business. Is it better to go solo, or have a partner?
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Old 07-18-2010, 11:08 AM   #8
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One of my partners has been in sales for over 30 years mainly dealing in wholesale auto-parts and has moved on to real-estate. As far as wages go we are putting ourselves on a modest hourly rate until until we get a comfortable enough cushion in the bank to hire some hourly help.
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Old 07-18-2010, 11:16 AM   #9
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I'm interested in partnerships as a structure for a painting company. Did you guys write out and specify an agreement? Is it just you and one partner? Did you open a common account? I'm curious.

Thanks.
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Old 07-18-2010, 11:16 AM   #10
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Dirtyrash,

Would you consider yourself the lead painter with the most experience in your partnership?

The reason I ask is, at some point I would be concerned that there could be some power plays regarding who adds the most value to the partnership.
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Old 07-18-2010, 11:21 AM   #11
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I have 2 partners, 1 other painter and a guy to do sales, marketing, scheduling and general office stuff. We haven't realy done a contract, but the sales guy is my father and the other painter has been one of my best friends since junior high, who I also play in a band with. These are actualy the only 2 people I trust enough to go into something like this with.
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Old 07-18-2010, 11:23 AM   #12
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Quote:
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I'm also thinking about starting a painting business. Is it better to go solo, or have a partner?
Its best to just hook up with College Pro. And if you really wanna shine, sign on with Home Depot.
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Old 07-18-2010, 11:24 AM   #13
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I have 2 partners, 1 other painter and a guy to do sales, marketing, scheduling and general office stuff. We haven't realy done a contract, but the sales guy is my father and the other painter has been one of my best friends since junior high, who I also play in a band with. These are actualy the only 2 people I trust enough to go into something like this with.
Thanks for the clarification.

Sounds like your part of a family business with Pops running the show.

Good luck. Hope everything turns out well!
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Old 07-18-2010, 11:25 AM   #14
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Welcome aboard Indy. Do you ever hit any of the races out there?
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Old 07-18-2010, 11:28 AM   #15
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Its best to just hook up with College Pro. And if you really wanna shine, sign on with Home Depot.
Thanks Woodland.

However, I haven't heard many good things about painting franchises, but I do shop at Home Depot, and may consider that route.
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Old 07-18-2010, 11:29 AM   #16
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Quote:
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Thanks Woodland.

However, I haven't heard many good things about painting franchises, but I do shop at Home Depot, and may consider that route.
doggone paint applicators
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Old 07-18-2010, 11:32 AM   #17
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Thanks Woodland.

However, I haven't heard many good things about painting franchises, but I do shop at Home Depot, and may consider that route.
LOL I was being sarcastic.
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Old 07-18-2010, 11:34 AM   #18
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Quote:
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Thanks for the clarification.

Sounds like your part of a family business with Pops running the show.

Good luck. Hope everything turns out well!
Kinda, except "pops" has no painting exp. Actualy the running joke/rule is he is not allowed to touch paint.
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Old 07-18-2010, 11:37 AM   #19
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Kinda, except "pops" has no painting exp. Actualy the running joke/rule is he is not allowed to touch paint.
Well if he has good salesman experience, as Harry suggests, you guys will do fine.
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Old 07-19-2010, 05:18 AM   #20
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What is Home Depot?
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