How to Start a Painting Business; The painting business in Nigeria is a vocation that entails the application of paints and related coatings to various surfaces. Painting contractors are sometimes also referred to as “paint contractors,” “painters,” or “painter men.”
The painting business can be very profitable. It is also a highly competitive market with many players in the industry. Paint contractors should, therefore, strive to set themselves apart from their competitors by going the extra mile to ensure that they present themselves as an outstanding painting business. This may not come easy or cheap, but it is necessary to beat out your competition.
As a paint contractor, you are required to have an established customer base to drive your business growth. A sizable customer base will enable you to spread out your marketing strategy and easily diversify your portfolio of customers.
The services rendered by painters include:
- Painting of houses, flats, offices, and other buildings
- Painting of bridges and flyovers for both aesthetic purposes as well as protection against rust and corrosion.
- Cleaning up old paint from walls or roofs
- Old buildings are being renovated and painted.
Steps to Starting a Painting Business in Nigeria
To have a successful painting business, here are the steps:
1. The first step is to get an idea of the market and what other painters are doing
Make certain that you are not duplicating anything that is already available on the market. Register with the right authority so that the application for registration can be processed. Once you have registered, you will be given a license number. This license gives you the right to run a business in Nigeria.
2. Find out where the market is
You need to decide whether you want to do your painting business in Nigeria or somewhere else. It is important to know where the market is before deciding on a place to start your business. You need to know how many people are likely to need your services and whether there is enough buying power for you.
3. Establish your relationships, either with clients or with other professionals who can help you in your business
This may include finding out if furniture manufacturers will hire you as long as you promise quality work. Find out if any professional associations will give you a chance and discuss what requirements are needed to be a member. You can also try contacting local businesses that have access to relevant information about the market to see if anyone will give support or help in this aspect of your business.
4. After getting an idea of what other painters are doing and where the market is, you need to get materials for your work of art
You should try as much as possible not to use expensive paints for this purpose because it will make it difficult for you to make money from your painting business.
Materials Needed to Start a Painting Business in Nigeria
The materials are:
- Brushes: a variety of brushes, such as round and flat brushes
- Oil paint
- Acrylic paint
- Paint palette
- Clothes brush
- Palette knife
- Light box
Reasons to Start a Painting Company in Nigeria
The reasons are:
- The paint industry is a huge business in Nigeria, generating over 3 billion naira annually.
- The Nigerian government has undertaken an aggressive economic diversification drive, and painting has been identified as one of the sectors to foster and grow.
- There are no other major players in the market, which means there’s room for anyone to come in with a strong offering.
- Nigeria is one of Africa’s biggest economies and Africa’s most populous country, with more than 170 million people and GDP growth of 6% per annum, making it among the continent’s fastest-growing economies.
- The lack of a paint industry in the country is a threat to our economy and socio-economic development.
- The government’s initiative to promote the sector has been successful in increasing the number of business owners.
- Most states in Nigeria have their own departments for supply chain management, and as such, it has become quite easy for a paint merchant to source his or her products from each state through government support.
- There is a vast market for paint products, thus creating an opportunity for a sound business opportunity in this sector.
- The industry contributes significantly to government revenue through individual taxes (ASK) and value-added tax (VAT) on paints.
Benefits of Starting a Paint Business in Nigeria
If you’re considering starting a paint business in Nigeria, then you should know about the many benefits that this decision will bring.
With paint, Nigerians can protect their structures from future damages and make sure that they live in clean and safe homes. You’ll also be able to generate more income for your family and gain a sense of fulfillment when people come to you for advice on how to:
- You get to provide a service to your community. As part of your plan to start an independent business, you should ensure that you provide your community with more than just paint and brushes—that’s just one component of the service that you can offer. It would also be worthwhile for you to provide them with other services, such as roofing and windows, as well as the necessary training to become efficient in this trade.
- You’ll have a steady income stream. If you have some basic skills related to painting and decorating, then you can start a successful business that will help you earn a living. When you understand how business works, you can ensure that your income will be enough to meet your needs without having to make sacrifices in other areas of your life.
- You’ll have the opportunity to explore more opportunities in the area where you live. Many people go into business because they feel like they have no other way to make a decent living. If you are one of them, then you’ll be happy to know that with a painting business, you can explore many new opportunities.
- You’ll get to make money on the side. Your main source of income will be your painting business, but if you have some expertise in other areas, such as carpentry or building, then you can also start up a side business that will earn you an extra income.
- You get to do something fun and rewarding—this is what’s important. Finally, you can enjoy what you do because you’ll be able to do something that has a rewarding aspect as well as make a living at the same time. This is more than what many people are able to say about their jobs.
If all these reasons aren’t enough to encourage you to start a painting business, there are still many others that could convince you. To learn about some of these reasons, continue reading this article for more details.
You can actually start your own painting business with very little investment. You don’t need to take out loans from the bank or have any capital up front in order for the business to get off the ground successfully.
Frequently Asked Questions
Is painting a profitable business?
Yes, most painting businesses are profitable thanks to low startup costs and high profit margins. If your number one goal as a small business owner is to be profitable, the painting industry is a perfect choice for you.
How do I become a self employed painter?
- Set up your business.
- Notify HMRC of your tax status.
- Look at your start-up costs and finances.
- Get insured.
- Find some clients.
- Scalebloom.com – How To Start a Painting Business -(Even Without Experience)
- Nerdwallet.com – How To Start A Painting Business In 7 steps
- Simplybusiness.com – How To Start A Painting Business – A simple Guide