Wondering how to start a paint store? We take you step-by-step from start to success.
Successful Business Plans for Paint Stores
How good is your paint store's business plan? If you aren't completely confident in the quality of your business plan, it could be because you haven't invested enough time and effort in its creation.
Although there are a lot of tasks screaming for your attention, cutting corners on your business plan can be a precursor to disaster. Why? Because there are a multitude of reasons why your company can't succeed without a sound business plan.
From a business ownership perspective, that makes business planning your first priority - and not a task that can be assigned to the back burner.
Begin With the End in Mind
You will likely start with a local focus, but it's a good idea to think about how you might eventually expand your business.
Because many paint stores achieve growth by launching multiple sites and treating each location as a new, local business, we recommend that you build your paint store such that it can be replicated in other locations in the future.
Don't Ignore Competitors
Prior to launching a paint store in your area, it's worthwhile to find out how strong the competition is. Try our link below to get a list of local competitors in your area. After following the link, enter your city, state and zip code to get a list of paint stores in your area.
It's important to be aware of what the competition is doing. Take the time to visit the competition to properly assess their strengths and weaknesses.
A Good Source of Advice
Once you've finished assessing the competion, be sure to learn from folks who are already in business. Local competitors are not going to give you the time of day, mind you. It'd be crazy for them to teach you the business.
However, an entrepreneur who owns a paint store on the other side of the country may be willing to share their entrepreneurial wisdom with you, provided that you won't be directly competing with them. 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.
Want the scoop on finding somebody who runs a paint store who is willing to advise you because you live in different cities?
Easy. Find them using our link below and start calling until you are successful.
Advantages of Using a Business Broker
Business owners are decision makers. And the first decision you'll need to make is between a paint store startup and an acquisition. In most cases, there are compelling financial and practical reasons buying an existing paint store.
If a business purchase seems like the right move, your first step should be to contact a qualified business broker. Why? Because business brokers offer several advantages to paint store entrepreneurs.
Top quality brokers with an industry track record understand the nuances of paint store acquisitions and are equipped to make your transition to paint store ownership as easy as possible.
Explore Franchising Options
The odds of achieving your primary goal of being a successful business owner zoom upwards when you franchise and leverage their successful brand and track record.
Prior to starting a paint store, you should investigate whether purchasing a franchise might help you on your entrepreneurial journey.
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.
These additional resources regarding starting a business may be of interest to you.
If you already are in business and came here to learn about growing an existing paint store, these resources will come in handy:
If you sell to paint stores, this isn't the right place for you. These resources are more appropriate for you:
If you are interested in starting a different kind of business, please browse our directory of guides below.