I want to start my own business...?
Answers:
You have your idea and some customers. You will need to register this business with your city government. The state should have info on what it takes to register a sole proprietorship. Be careful because I know that some states require licensing for painting but they let small jobs fly under the radar.
Most important though are two things: understanding how to foster and network customers and the ability to give a quality job without breaking the bank while still making a profit.
Bidding the job you need to ask yourself questions such as:
How long will this job take me and how much do I want to earn hourly (prob $10-$12/hr)?
How much profit do I intend to make? Profit is on top of that hourly labor pay. If you expand your employees will get that labor pay and you will get this profit. An easy way to decide your profit is by using set percentages.
Unless you are good friends or family with customers you should write up contracts that specify what exactly work you are going to do and how much that work costs. Include when they will have to pay you and a way they can contact you with any grievances.
Consider your ability to do this job. If you are very inexperienced you will probably take longer than an experienced professional to do a quality job. This unfortunately doest mean you can charge the customer for every hour of your work just because you are slow. Competition would outbid you then.
In calculating how much the job will cost in material and labor, you need to remember the cost of not only paint, but tape, brushes etc and how much depreciatoin each will suffer.
After each job is completed you will want to make sure your customer is happy mainly so that they will recommend you. Give them business cards with a dedicated phone number (cell phone is ok).
Keep all receipts for tax purposes.
Lastly dont get discouraged. All businesses start out slow, but if you play cards right they will grow exponentially.
Good Luck
Just come up with a company name and get some business cards that you can hand out. Once you start getting paid for your work you're in business.
I also suggest having a clear pricing strategy so that you can quote quickly and at the right price. You can get some pre-printed forms to write up quotes or just use a MS Word template and print on a home printer.
You also may want to look into insurance, since many people will want you to be insured if you are working on their homes.
Overall don't complicate the administrative stuff though. Focuse on gettign work and getting paid.
My first advise would be to read a book by Robert Kiyosaki called "Rich Dad Poor Dad". Being a business owner is different than being an employee. As an employee you get paid first. As a business owner, you may get paid last and thats if there is anything left.
Just about every town has some type small business resource center that helps people just like you. They can go over the laws in your state, county or city concerning business licenses and tax. Many states require you carry the proper insurances to do business. Workmans Comp. is something many new business owners don't think about at first but it may be something you may need to address. You definitely want to cover your butt in case something happens that was beyond your control. It happens all the time.
I talked to an attorney, CPA, and bookkeeper concerning my business and I started as a one man shop myself. I was surprised how much more there was to think about and I followed thier advise. It cost me a little money up front but they helped me avoid lawsuits, fines, and penalties that would have cost me way more that a couple of thousand dollars.
If you are limited on funds, you can always just goto a mentor in the same business who is successful and ask them. You would be surprised how much even your own competition would be willing to help.
Hope this helps.
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