Your First Step To Start A Painting Business
This objective is achievable but requires a method and certain knowledge, to help you in your installation we present in this article the main stages of the creation of this type of business.
Find everything you need to know to create a successful house painter business: market research, legal status, business plan, fundraising. Focus on the essential elements that will allow you to carry out your professional project.
Do market research before setting up as a house painter
The decision to open a building painting business does not take a whim. It is only once you are sure of your motivation that you can focus on the prerequisite for any business creation project: market research.
This study will allow you to refine your project and choose the right commercial positioning by gathering as much information as possible about the sector and its players.
First, get an idea of the situation in the building paint industry by gathering the following information:
- What is the turnover of the sector? Is it growing or declining? Has the price of services increased or decreased in recent years?
- Who are the main contractors? Individuals, businesses, local authorities, architectural firms, project managers?
- What are the size and average duration of a site?
- Is the activity subject to a particular seasonality?
Continue your market research by refining your research on the geographic area where you want to set up.
In order to estimate the size of the local market, look at the following economic indicators:
- Demographic statistics: the size of the local population, age pyramid, disposable income
- Rate of households owning their home
- Number of housing starts, and the number of transactions in old real estate
Then study the companies in the sector:
- How many building paint companies are there in the local market?
- Are these small structures? Freelancers or franchises?
- How many people do they employ?
- What are their service offerings and prices?
- What is their economic situation: flourishing or close to recovery? Between the two?
Also, note that the competitors located nearby are a good indicator of the situation on the market. If you find that there are too many of them or are already struggling to cope, given the low demand, it is better to consider moving elsewhere!
In your analysis, also take into account the importance of posted workers in the sector, as well as the certainly illegal but very real competition from undeclared work or “moonlighting.”
Also, try to estimate the market share held by your competitors and ask yourself if an original and differentiating positioning could allow you to acquire market shares.…