In order to build a successful and well equipped painting and decorating business investing in the right apparatus and knowledge is of paramount importance.
We’ve put together a short guide on the top 4 things you must prepare for when building a painting and decorating business from scratch.
Ok, this one seems like a given, but it’s a good place to start. Bear with us.
Registering a business isn’t expensive. It does mean having to submit accounts, but unless you want to work illegally, this is necessary anyway. Creating a business isn’t just signing a few pieces of paper. You need to invest, time and (hopefully) money into building up a visible entity- a website, a social presence, a van, and advertising. You need to give people a way to find your business, and having these tangibles is a vital first step.
It goes without saying that equipment is necessary, but specifically what and how, isn’t so clear-cut. You’ll need the basics, such as work tables, paintbrush, overalls, and various hand tools. But, depending on what particular area you would like to focus on, you may need trestles and scaff planks, ladders of various sizes and possibly even scaffold towers.
Some of this equipment you should buy outright, but a lot of it can be hired. Depending on the cost and how busy you are, you might be better off hiring equipment long term from a hire company.
To begin with you’ll almost certainly be working on yourself for yourself. The overheads are lower, you don’t have to worry about anyone else, and it’s just simpler. However, when you take on a bigger job consider hiring an extra pair of hands rather than extending the length of the job. Getting things done to a good standard and in good time paints a great picture (pun intended) of your company. In the beginning local references by word-of-mouth are going to be your bread and butter as your business takes off.
Once you start bringing in some money, evn if it’s not quite enough, you must make sure that you’re on top of your tax situation right from the get-go. The last thing you need at the end of the financial year is to be left with a box full of receipts that make no sense, and zero time to organize them You can use online systems like Quicken , Accountz, and Wave, but when it comes to submitting your tax returns, things become very complicated very quickly. On top of this you’re going to want to make the most of tax deductibles to reduce your burden, and experienced accountants can end up saving you a lot of money in this regard.