Growing business
Accountants and bookkeepers unlock 11.5% more revenue in small and mid-sized businesses
STARTING YOUR OWN BUSINESS
How to start a painting & decorating business
Creating beautiful spaces and working for yourself – it’s no wonder starting a painting and decorating business is so appealing. But, setting up a business is complicated.
In this comprehensive guide, we’ll help you hit the ground running. Give your business the best chance with our tips for managing your time, finances, and resources. From creating a business plan to building a loyal customer base, here’s how to become a decorator.
Jump to a section:
How to create a decorator business plan
A steadfast business plan is the first step in starting a decorating business.
Your plan should clearly outline your business goals, and the practical steps to get there. Asking difficult questions like ‘Who is my target audience’, ‘Who else is operating in the area’ and ‘What makes my business unique’ will help you shape your business’ future.
Crucially, you need to ensure your finances are in check. For example, do you have enough money to buy equipment and set up your business, and can people afford you?
Here are five important things to consider when creating your business plan.
Understand your customer base & market demand
Knowing who to target can make or break your business, and your chosen market will shape both your strategy and operational approach. The below questions can help:
Are you interested in ongoing maintenance contracts, or one-off jobs?
Will you offer other services, such as wallpapering or plaster repair?
Residential only, or commercial projects like offices, schools, or shops?
Will you focus on a small area (less choice), or travel (more fuel)?
If you take on a wider range of clients when you start your business, you can refine your clientele once you build traction. You could even target clients with multiple properties.
Obtain the right skills and equipment
If you want customers to pay you a fair price, invest in quality tools and materials.
You’ll need reliable brushes, sprayers and rollers, alongside good quality paint for a professional finish. Other essentials will include ladders, drop cloths and chemicals to thin paints or clean your equipment. And don’t forget your clothing and PPE for safety!
Practical skills, rather than formal qualifications, are key. You’ll need experience in:
Preparing surfaces, including sanding, filling, and priming
Applying paint evenly and efficiently, with attention to detail
Hanging wallpaper and managing intricate patterns
Selecting the right tools and materials for different surfaces
Working in a range of commercial and residential spaces
However, some form of qualification might be required. This will signal to customers that you’re skilled and trustworthy, helping you get your foot in the door as a newcomer. You may decide to train as an apprentice, or develop specialist skills in period properties.
If you’re working on construction sites, you’ll need a CSCS card to work there legally.
Review your competition
The allure of transforming spaces and working on your own terms draws many to starting a painting and decorating business. It’s vital to research your competitors, so you can provide a unique or superior service to them, and create a brand that stands out.
For example, if nobody in your area highlights eco-friendly practices, you can target environmentally conscious clients. Or, focus on your speed or customer service skills.
Not sure where to begin? Check out our guide to how to do competitor analysis.
Create a pricing plan
Set your pricing to cover business costs, while reflecting the quality of your work.
Research local rates and start with competitive prices. As you get clients, you can raise prices and be more selective. Fixed fees and profit margins will help your business grow.
Plan how you will market your services
Check out our expert tips for building a digital marketing plan for small businesses.
Whether you rely on word of mouth and leaflets or use social media marketing, it’s essential to attract customers. Share photos of your best work, ask for testimonials, and keep an eye on the housing market – landlords and owners always need your services!
You can even partner with hardware or paint stores, hosting workshops as a local expert.
How to formally set up your painting & decorating business
Setting up a business can be complicated, and it’s important to do it right. Let’s explore how to choose your business structure, and how to stay compliant with HMRC.
Decide whether to be a limited company or sole trader
One of the first things to consider is whether you’re starting your painting and decorating business as a sole trader, or as a limited company. Both have their pros and cons.
If you operate as a sole trader, paying taxes may be simpler, and you have full control over the business. However, if something goes wrong, you are personally liable. As a limited company, your assets are more protected, and you may be taxed less on profit. There are additional compliance considerations that need to also be factored into running a limited company.
Read our detailed guide to setting up as a limited company vs a sole trader.
Learn about small business tax obligations
Whether you’re the director of a limited company or a sole trader, you’ll likely need to declare and pay tax through Self Assessment. You’ll need to keep detailed records of your expenses and income, as you may be able to claim back tax on the following:
Tools and equipment like brushes, rollers, and ladders
Work uniforms and personal protective equipment (PPE)
Vehicle mileage for travelling to clients' homes or job sites
Advertising costs, such as flyers or a business website
You might also be able to deduct costs for materials like paint or cleaning fluids. If you handle your bookings and finances from a home office, some office costs may qualify.
Here are some tax tips for small businesses, including essential tax dates for your diary.
Plan & analyse your cash flow
Maintaining a positive cash flow is crucial for the survival of your decorating business.
Demand can fluctuate, so plan for quiet periods by saving profits in busy times, or offering additional services during off-peak months. Keep an eye on your income and fixed assets (like tools and vehicles), so you can pay for materials, insurance, or marketing.
Check out our cash flow management blog for more tips on managing your finances.
Choose the right insurance
Sorting insurance is essential for a small business where many accidents can happen.
Public liability insurance – covers accidental damage to a client's property
Tools insurance – protects against theft or damage to your equipment
Commercial vehicle insurance – essential if you use a van for work
Customise your insurance to fit your needs, and stay informed and up to date on rules and regulations relevant to the painting and decorating industry. You and your team must wear protective gear and maintain your tools and equipment to help prevent accidents.
Have clear terms and conditions for every job, and always tell customers if issues arise.
Set up an accounting system
Having an easy, effective way to manage your finances helps you get on with your job. As a painting and decorating business, here are the main areas to focus on regularly:
Cash flow and expenses
Invoicing and payments
Mileage tracking for tax
Choose an accounting solution that lets you simplify or automate these admin tasks, allowing you to focus on growing your business. QuickBooks’ accounting software is built for small businesses, allowing you to track everything we’ve discussed in this guide.
You’ll get a bird’s eye view of your finances, helping you to make decisions.
How to grow & develop your painting business
If you have big dreams for your painting and decorating business, a solid growth strategy can help you achieve them. Here’s how to build a solid brand that customers will trust.
Create a solid brand
Your brand should offer more than just saving your customers money or time.
What makes your brand stand out from competitors, and how does it resonate with your target audience? Select your USPs carefully, whether it’s attention to detail, an emphasis on creativity and innovation, exceptional customer service, or an eco-friendly focus.
During your planning stage, you should check if there’s demand for your offering.
In painting and decorating, your branding has to look the part. Use colours and imagery that reflect your services, and a memorable name that appeals to your target market.
Be polite and give helpful advice to your customers – they may recommend you!
Review budgets regularly
Regular budgeting can help keep your business expenses healthy each month.
You may need to adjust your budget for rising material costs or inflation. By planning for supply chain issues and unexpected costs, you can help keep your business afloat.
And if your expenses increase, make sure your prices are rising to reflect costs.
To make a profit in decorating, raise your prices regularly but fairly, and focus on areas of the business that are lucrative. Here’s how to create a small business budget.
Stay in control of your finances
If you want to expand your business and make a profit, your income must exceed your expenses. Financial forecasting can help you make decisions to meet your goals.
Forecasting helps you predict future costs, like hiring extra staff, upgrading the tools or paints you use, or buying additional vehicles. You can then weigh up short-term costs versus long-term gains for your business, helping you spend money wisely.
Here’s how financial forecasting works and how it can help small businesses to grow.
Grow your business with QuickBooks
Starting a decorating business can be challenging, but the right tools can help you focus on what’s important. Use QuickBooks to streamline and better understand your money.
Designed to grow with your business, our professional accounting software:
Is accessible and easy to use, from anywhere
Gives a comprehensive overview of your finances
Automates admin jobs like sending invoices
Gives multiple ways for customers to pay you
Helps you make important financial decisions
Is recognised and compliant with HMRC rules
Try QuickBooks' sole trader accounting software here. Cancel anytime.
With QuickBooks, you can spend less time calculating your finances manually, and more time maintaining relationships and building your brand. Good luck with your business!
The information on this website is provided free of charge and is intended to be helpful to a wide range of businesses. Because of its general nature the information cannot be taken as comprehensive and they do not constitute and should never be used as a substitute for legal, accounting, tax or professional advice. We cannot guarantee that the information applies to the individual circumstances of your business. Despite our best efforts it is possible that some information may be out of date. Any reliance you place on information found on this site or linked to on other websites will be at your own risk.
Share:
