Becoming an Entrepreneur
Starting a Commercial & Industrial Paint Business
This advice is perfect for those who want to open a commercial and industrial paint business. This is a must-read before you start!
Wondering how to start a commercial and industrial paint business? We take you step-by-step from start to success.
Best Practices: Business Plans for Commercial & Industrial Paint Businesses
A great business plan will lay a strong foundation for growth in your startup commercial and industrial paint business.
Business plans address a wide range of issues, including startup financials. Not surprisingly, lenders immediately turn to the financial section and use the accuracy of your forecasts to gauge the value of other parts of the plan.
With so much riding on your business plan, we recommend getting a firm grasp on business plan financial basics before you start writing the other parts of your business plan.
Look Over Competitors
Long before you open a commercial and industrial paint business in your area, it's a smart move to determine how you will fit in the competitive landscape. We've provided the link below to help you get a list of local competitors in your area. Simply enter your city, state and zip code to get a list of commercial and industrial paint businesses in your town.
How are you going to successfully complete with existing firms? It's important that you never underestimate the competition.
Find Good Remote Business Advice
After you've evaluated your local competitors, it's essential that you have a conversation with someone who is in the business. If you think your local competitors will give you advice, you're being overoptimistic. Why would they want to educate a future competitor?
However, an entrepreneur who owns a commercial and industrial paint business outside of your community will be much more likely to talk with you, as long as they don't view you as a competitive threat. In that case, the business owner may be more than happy to discuss the industry with you. Our estimate is that you may have to contact many business owners to find one who is willing to share his wisdom with you.
So, what can you do to find a commercial and industrial paint business manager in a different locale who can assist you?
We can help. Follow the link below, try a few city/state combos or zipcodes, and then start calling!
Commercial & Industrial Paint Business Acquisitions: Financial Considerations
Startup commercial and industrial paint businesses carry a host of financial risks and concerns. Without an operational history, it's hard to predict how your startup will actually perform in the marketplace.
Financial risk management requires you to at least consider the possibility of setting your startup plans aside to explore acquisition opportunities. At a minimum, it's worth exploring the financial benefits of buying a business to get an established customer base.
Based on the acquisition target's financial records, you should be able to piece together a realistic forecast of your new company's financial picture for the first year and beyond. If you need assistance, we suggest talking to an accountant or professional business planning consultant.
Consider Franchising
Recognize that your chances of growing your business are much better when you join the ranks of franchisees and benefit from the prior work of others and their lessons learned.
If your goal is to start a commercial and industrial paint business, you may want to determine whether there are good franchise opportunities available that might increase your chances of success.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
Related Articles on Starting a Company
These additional resources regarding getting started as an entrepreneur may be of interest to you.
Buying vs. Starting a Business
Coming Up With Good Business Ideas
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