heyheyheynoname
New member
In order to get started, I had to take care of a few things:
Legalities:
Labor:
It’s a simple rinse and repeat method…same exact principles are applied. I finance paint, and pay it off on a monthly basis at 0% interest, this frees up cashflow.
The reason I’m posting this, is because I did a Business Breakthrough (can be found here) with someone wanting to scale their house painting business but lacking cashflow.
I couldn’t understand it. But then I realized, he was mis-allocating his resources…he was too afraid to finance, even though there was so many great 0% programs available.
Another reason I'm posting this is because when I was thinking about getting started, I would go back and forth about how much I needed to have saved in order to do it...I probably spent an additional year saving money. I saved all the way up to $20k... Never touched it... the $500 I used was all put on a credit card.
Legalities:
- Luckily in FL I didn’t need a license to paint. It’s a county by county law, and fortunately, my county didn’t require it. - $0
- County Business Tax - $35
- Workers Comp exemption - I started my business with subs, and I heard I needed an exemption…so, I got one. $50.
- General Liability Insurance - Pretty easy, went with a large company, $80/m
- I filed and registered as an LLC (Later changed to S-Corp) with FL - $125
- I built my own website and did month-to-month hosting on it, $20/m
- I signed up with HomeAdvisor for leads, paid $175 annual fee (Lead fees were due on a weekly basis)
- I financed a paint sprayer for $650 through PPG at 0% interest for 12 Months
- I financed all paint for 30 days rolling credit at 0% through Sherwin Williams
Labor:
- I paid labor once our first job was finished (easy)
It’s a simple rinse and repeat method…same exact principles are applied. I finance paint, and pay it off on a monthly basis at 0% interest, this frees up cashflow.
The reason I’m posting this, is because I did a Business Breakthrough (can be found here) with someone wanting to scale their house painting business but lacking cashflow.
I couldn’t understand it. But then I realized, he was mis-allocating his resources…he was too afraid to finance, even though there was so many great 0% programs available.
Another reason I'm posting this is because when I was thinking about getting started, I would go back and forth about how much I needed to have saved in order to do it...I probably spent an additional year saving money. I saved all the way up to $20k... Never touched it... the $500 I used was all put on a credit card.