Are you considering starting a painting company or buying a franchise? If so, you probably asked, why should I buy a franchise when I can create my own?
That’s a great question, and there is no correct answer. Each has pros and cons, and as you read on, you can determine which direction makes the most sense.
I’ve broken the pros and cons into four factors in determining if it would be advantageous to start a painting company alone or through franchising.
There is plenty of work out there for everyone, so whichever direction you choose, I wish you the best. However, if you are interested in exploring a franchise, please check us out. I think you appreciate what we offer over other painting franchises.
I factored that franchises have royalties, territorial limitations, and other restrictions and fees independent painting companies do not have. Therefore, if a Klappenberger & Son franchisee only had a slight advantage, I gave the Independent painting contractor the round.
Generating Marketing Materials
The difference becomes more apparent when we look at the steps to having a professional appearance.
Starting a painting company on your own will always take longer than if you invest in a painting franchise.
If you want to start a painting company and do the labor yourself you do not need a social media plan. However if you want to build a scalable painting company with a team of painters than you will need to hire an expert.
According to Entrpenuership, start-up companies spend between 12%-20% of their gross sales on marketing. Established companies can reduce that number by 6-12%
In addition, social media posts for new companies start at $1,500.00 per month, and a more robust and active campaign would cost closer to $4,000 per month.
Developing a website with organic visibility would cost a minimum of $25k to $100k. It is a very complicated and time-consuming process to get good visibility organically.
Keep in mind you are competing with the big boys such as Home Advisor, Angie’s List, and painting franchises. When starting a painting company on your own, it may be smarter to get to the top of the list by using Google Adwords, also known as PPC.
The marketing strategies of only 10 years ago have completely changed.
If you are contemplating starting a painting company, consider I would advise that you not try to learn digital marketing.
Digital marketing is so complicated that many companies with smart people with the best of intentions have no idea how to do it.
I went through about ten different digital marketing companies over a 15-year span before I found one that did what it said it would do.
Unless you are an expert in the field, it’s not a wise investment of your time to figure it out. Instead, have a budget of about $25,000 to build a website and continue to invest at least $500.00 – $1,500 a month for the business’s life.
The other aspects of incorporating social media, Google My Business, and Google Maps, and others, should budget between $1,000 – $2,000 per month.
Having a professional website, logos, and marketing material done is incredibly beneficial. Customers today reach for their smart phones for everything, including calling for painting and handyman estimates. They are looking for a professional company, and our painting franchise provides that. If I were writing a book on “How to start a painting business,” I would include a website, log, and marketing material at the top of the list of importance.
To have your website findable, your PPC operating correctly, or Facebook adds having a proper ROI takes an expert. A novice has no chance. These challenges are not for an inexperienced entrepreneur who is trying to start a painting company.
When starting a painting company, the bookkeeping responsibilities are the first to get pushed to the side. Your day is preoccupied with estimating, project management, sales, and solving problems. The backlog of admin work happens to everyone, including our painting franchises. So, we added a bookkeeping service.
When you invest in our painting and handyman franchise, you pay a reduced monthly fee to have your books kept current.
This monthly service will give you profit and loss statements, accounts payable, and job cost analysis.
The cost of this monthly service starts at $525.00 a month. This monthly fee is far less than what a part-time employee would cost if you start a painting company independently.
The time you save and the reports’ accuracy are well worth the monthly cost. It is common that business procrastinate admin work because they are focused on growing the business. Having an inexpensive bookkeeping service help keep you organized allows you to understand your profits and cash flow.
82% of all business fail because of poor cash flow.
Having monthly updates keeps you informed of how your business is doing. Small companies that do not know their numbers are surprisingly common. What is less surprising is they are most likely to fail.
Keeping your accounting books current is the best practice in how to start a painting business.
Starting a painting business with no experience will cost you time and money.
The School of Hard Knocks is very real, and Professor Murphy teaches it with a hard stick.
I wish I had someone tell me how to start a painting business. In the beginning, I made a lot of costly mistakes.
Mistakes come in two forms, that is, reputation and money.
When you correct your errors, it will minimize damage to your reputation.
However, time is money, and it quickly eats away at the profits.
Mistakes almost always come with a price tag. I do not know how much money I spent at the School of Hard Knocks.
I expect the tuition was likely six figures before I came up with my system and training videos.
If I were advising someone how to start a painting business with no experience, I would suggest these four things.
Our painting franchise, Klappenberger & Son, has over 45 videos that include topics such as:
Reason: Life is short. When you have the tools, training, coaching, and guidance, you have the ingredients to establish yourself faster. If you can stay focused and disciplined, your margins will be significantly higher.
I believe that the benefits of owning a Klappenberger & Son painting franchise outweigh the investment costs if time, stress, and profits are essential.
Yes, fees stink—no doubt about that. I cannot argue fees are no fun to pay. However, I will often pay a fee to go on an expressway.
Reason: Life is short. When you have the tools, training, coaching, and guidance, you have the ingredients to establish yourself faster. If you can stay focused and disciplined, your margins will be significantly higher.
I believe that the benefits of owning a Klappenberger & Son painting franchise outweigh the investment costs if time, stress, and profits are essential.
If you are starting a painting company alone, you have a couple of advantages. Firstly, you are not limited to any geographic location. If you start your own painting company, you can work and advertise wherever you want. Painting franchises have specific territories that restrict where a franchisee can work and promote.
Klappenberger & Son is aware of territory limitations, and that is why we give you the most largest territories. Our painting franchises have territories 2-5 times larger than our competitors.
One downside to working in an area too large is the lost time driving. Driving an extra hour per day adds up to 261 hours a year or 11 days straight without sleeping! If I were to advise someone on starting a painting business, I’d suggest targeting local areas.
Klappenberger & Son has few restrictions on the type of work you can do. Besides painting, Klappenberger & Son franchisees can do remodeling, decks, and other home remodeling projects. However, as a sole proprietor, you can switch to any service you choose at any time.
Reason: Not being limited to where you can work or advertise is always better than limitations. With that said, our franchisees have the most extensive territories and the most freedom to do diverse work in the painting and handyman franchise industry.
Phone: 443-223-0645
Email: dklappenberger@klappenbergerandson.com
Address: 902 Bluff View Dr. Myrtle Beach, SC 29579