Busy Or Making Money?

THINKPAINTING

I am always asked by other painters and contractors(big difference) if I am busy. My brother-in-law had one of the biggest and busiest painting companys in the Northeast for years. He was always busy with work but made no money.

My next door neighbor is a 2 man show who also stays busy almost yr round with work. He should because his rate is $30 dollars an hour.
He has no health insurance drives a beat up old van and always complains he has no money.

The stats show 90% painters are out of business in 2-5yrs, number one reason is they do not charge enough for there work.

SeanATL

Good point, and I saw you mention it in my other thread. If you're doing $30k a month, that's great, but if you're only making a 5% margin, that sucks.

NSolano

maybe he is hiring tier subcontractors to do the work for him. Stay away from those, they are a big headache. Hire hourly painters and a foreman to make sure they are doing their job right. You will pay less and save yourself from having to come back to fix the work. Extra time means extra money spent.
Also save your money from buying really expensive NEW trucks, buy some used ones from like 2002 or around there. You don't need brand new trucks to do your work. (just make sure the used ones you buy don't have many miles or are beat down)
Finally, your equipment should be NEW, don't buy used stuff when it comes to this. Your equipment should be the newest and best thing you own because you don't want your work to affected by this.

Frankawitz

As a painting contractor it can get tricky out there, most of the Home Owners I deal with want to do their own painting anymore. They just need someone to fix their ceilings and walls, like I've been told by many "Anyone can paint!" I tell them yes and so can a dog if you keep paint on his tail and keep him happy so he waggs it. But most people can't paint, I mean watch some of the DIY shows these people can't paint, most of them don't even use an extensin pole when they paint. I had a customer tell me she was going to do the painting. I said fine I told her I would get the room ready for paint then, After we finished up I told her she needed to prime everything then spackle as needed, she freaked out and said don't you do that, I said no that's the painters job to do the perp work. she didn't know what that was so I explained what she needed to do. She could not believe that had to be done before she could paint. some people can paint NOT!
As for your neighbor not making money he probly drinks it away. Most painters do.

4thGeneration

As for your neighbor not making money he probly drinks it away. Most painters do.[/quote]

Glad you inserted "MOST" Now that gets a

THINKPAINTING

He does not make any money because his hourly rate is $30 dollars an hour. Once he gets through paying all his overhead etc...there is not much left. He does not drink and he's been in business for over 40 years.

KellyPainting

BURP!
.... what were we talking about again?


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Richard

I'm new in the business and I've been steady except for 1 month out of the past 13 months. I am not the most expensive guy, but I'm not the cheapest.

I'm not sure what your looking for as an "answer" to this thread, but I am busy AND I make good money...Some things that help...

I dont drink, I dont spend frivilously, I dont smoke, I dont eat fast food, I dont drink coffee.

farrellpainting

Think, I think I can answer your question with two questions?

Does one, PAINTING CONTRACTOR have foresight of the future and has developed a plan to achieve his/her goal?

Or, does a PAINTER have this great idea that he can make more $$$ if he does everything himself?

THINKPAINTING

BENPM

FarrellPainting makes the best comment on this thread. If you are not building a business but rather trying to do everything yourself you will not grow your company and make good money. You may hit it lucky with a job that pushes you to the next level by luck...but luck is not a business plan. Pricing, marketing and knowing your marketplace are part of business thinking and that is how you make money.

Ben

PressurePros

Nick@, I think you and I share the same opinions.

__________________
Ken Fenner
Pressure Washing PA
Roof Cleaning Services PA

THINKPAINTING

Ken, still amazes me how contractors will defend there $30 dollar an hour mind set.................

lornmastro

good points...I'm now trying to get out of the bucket and was wondering if you used a marketing person to figure out how you want to market your company or if you went at it on your own?I often wonder if i make this way more complicated than it is

PressurePros

Nick,
I am amazed when someone justifies the $100/hr mindset. If you can bill at $100/hr, 50 hours a week, 40 weeks per year, you might make a halfway decent living but in exterior/seasonal work the actual tally comes nowhere near that. Someone billing $30 per hour will not be around long. If they are, they are a paid hobbyist that owns a job not a business.

__________________
Ken Fenner
Pressure Washing PA
Roof Cleaning Services PA

myshtern

I think your problems are in the fact your costs/living expenses are too high, not that you're charging your customers too much.

Not everyone can paint, but lets face it - most people can. If they don't know how, they'll go to a seminar a free seminar at home depot.

Joewho

People can't paint. Most people don't really know what good paint work is. This is a trade where you can't just cut on the dotted line. It does take experience and it shows.
From way down here, starting from scratch, it makes me feel bad to see this thread. I have to remind myself I'm starting from scratch.

30/hr AFTER expenses is just fine for me. I'll go contract a job by myself, make rate or more, and not have to worry about getting up and working for some slob that wants to make money off my back.

At first, I thought the title was a serious question, if everyone is working and making money. Darn, I wanted to say I'm doing better and better.

premierpainter

30/hr AFTER expenses is just fine for me. I'll go contract a job by myself, make rate or more, and not have to worry about getting up and working for some slob that wants to make money off my back.


Joe-Who??...that is what is going to be asked around the paint store unless you raise your rates

PressurePros

$30 an hour after D&I expenses, materials, payroll, workmens comp and liability insurance etc etc is livable. But to get to that you better be billing at $60+ per man hour and be running crew(s) 5 days per week to get there. If you are biling at $30 /hr plus materials I wil blow TAPS for you now. You won't be in business more than a couple of years.

__________________
Ken Fenner
Pressure Washing PA
Roof Cleaning Services PA

KellyPainting

Busy...2 months in advance... working Com Ave Boston right now... paying bills that I couldn't afford to pay last month (new construction). Have trimed down.... just me now.... have a helper maybe one day a week. More money coming in it seams.... And going out.