What would you be buying? Name? Established website? Customer lists? Tools? current employees? Overall brand? Just considering the angle here. Would it not be more beneficial to invest in yourself and make your own mark?

 

Invest in your dads business?

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Workaholic Thanks for the response! The more questions that I can answer now the better. What I envision is purchasing a customer list from this business. He operates a fairly small painting company. I don't know any numbers but I do know how much and how often he buys paint from me. I think that buying a customer list, in this case, would be the best option. His business is very reputable and they do excellent work. I think, long term, it only makes since to run my business under a different trade name. I suppose I could always open under his name and then gradually switch to my own name down the road too. It all needs more thought.

ewingpainting.net That is a good point. I would be interested in investing in my dad's business but his business is 2500 miles away. Also, oddly enough, when I mentioned the idea of opening a painting business to my dad, he was not very receptive. He said if he had the choice of opening a painting business today or not opening one, he said he wouldn't do it. His motivations to not open a painting business were due to what he faces in his location competing against a lot of illegals and also the general lack of painting work in his area.

 

Workaholic Thanks for the response! The more questions that I can answer now the better. What I envision is purchasing a customer list from this business. He operates a fairly small painting company. I don't know any numbers but I do know how much and how often he buys paint from me. I think that buying a customer list, in this case, would be the best option. His business is very reputable and they do excellent work. I think, long term, it only makes since to run my business under a different trade name. I suppose I could always open under his name and then gradually switch to my own name down the road too. It all needs more thought.

To me, the problem in buying a customer list from a small company is that there's a good chance that the success of that company is really driven by the personality of the owner. The likelihood of those customers staying loyal seems pretty slim.

As a small operator myself, I'm acutely aware of this. I realize that the market value of my company is probably pegged to the market value of scrap aluminum (our ladder collection) and not a lot more.

 

Before you go any further, you should investigate the contractor license issues that you will face. Depending on your state you may or may not qualify for one. If you do not, and it is still your intention to start a paint company, then you better start working for one. If you have no experience in the field in any sort of capacity then reconsider. Sounds like you are working for a paint company now. Depending on your position and future prospects that may be the best place to be. I worked for SW for 13 years and Frazee paint for 7, I started my own paint contractor company in CA last October. A massive cut in pay and left over 20k in bonuses and rewards at the end of the year, but less stress is what I gave up to pursue the american dream.

 

MikeCalifornia Thanks for the advice! I'm currently working in a small town working for a Ma and Pa run hardware store. We happen to also sell Pratt and Lambert paint. I make very little money where I'm at and the stress level is high (if you can imagine!). My father owns a painting business on the East coast that I have worked for over the years. I did all of his prep work and worked my way into painting but only after years of prep. I enjoy the painting business. In Montana, you don't even (technically) need a contractors licence to paint. They recommend that you file with the State but that's something anyone can do. Anyhow, I appreciate the advice! Maybe, I'll just go work for SW! ;-)

 

I wanted to get some input from folks on the forum about buying an existing painting business. Their is a local company that has been in business for quite a while and has an excellent reputation. I've visited with the owner briefly and from the sounds of it, he is very interested in retiring. I understand this does not mean that he would sell his company or his customer base, but it is worth investigating. I just want to approach this with an open mind and from a more educated prospective.

I am looking to enter the wonderful world of painting and am interested in finding out what the best (quickest) way is to get established.

Any advice on this is appreciated.

Cheers,

MTPainter

That's an oxymoron! To be "Established" takes time & commitment.
es·tab·lished

/iˈstabliSHt/
Adjective
(of a custom, belief, practice, or institution) Having been in existence for a long time and therefore generally accepted


The Best way is slow and methodical but most don't have the patience.

 

Open a paint store. You already know that end. Talk to a rep and see what you need to do.

 

Aaron, I'm not challanging what you are saying. But didn't your business take off like a rocket? I'm just going off of what you have posted in the past seemed one day you were doing home shows and door hangers, the next day you were off.

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That's true. But I'm 1 in a million:whistling2:

 

Just kidding...I guess it would depend on what you consider quick.

 

That is my point, some can grow at light speed, some can not. I can take what you did and put it to practice and it may not work for me. There is no secret formula. I've seen dope succeed and wonder why, and I've seen intelligent people crash and burn. I've seen lazy people cash out, hard working people work hard there whole life only to move a inch.

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He draws his power from the wavy grey hair.

 

I know this may sound like a no-brainer, but if you proceed with this and start to get serious, require that you be allowed to have an accountant review their books. You want to be sure of what you are buying rather than one that "seems" to be doing well.

 

What are you "buying" when you buy a painting company?

Go with carpet cleaning or drain cleaning.

 

Just go certapro

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Now don't get nasty.:no:

 

Best way to get established next to word of mouth is......money.......spend money....lots of it.....wish I had a 300k marketing budget like some companies around here.......

 

Bored?