Is a Painting Franchise Worth the Investment?
If you’re tired of the corporate grind and want to pursue entrepreneurship, delve into the world of painting franchises, and assess their value. Learn about profitability, market trends, and what makes this business appealing.
Corporate workers are rethinking their futures. Long hours, high pressure, lack of job security, under-employment, the constant demand to do more, and limited growth opportunities are sparking people to evaluate their options.
Many are charting a course for entrepreneurship. According to the statistics:
- A record 5.5 million new business applications were filed in 2023, on top of 5 million filed in 2022.
- Through the first three quarters of 2024, an average of 430,000 new business applications were filed each month.
- The number of new business applications has increased by 50% since 2019.
Is a Painting Business Right for You?
If you’re ready to take the entrepreneurial leap, launching a painting business has strong potential. Painting is the No. 1 improvement project homeowners tackle. These businesses weathered the COVID-19 outbreak by ramping up home painting projects as commercial opportunities fell. As the housing market falters, the number of commercial painting jobs is picking up the shortfall, according to IBISWorld. The U.S. painting industry is forecast to reach $42 billion in 2024, up 1.3% from last year.
To understand if a painting business is the best opportunity for you, look at the pros and cons:
Pros
A painting business is a low-investment opportunity with multiple revenue streams. Startup costs for a painting franchise can start as low as $60,000. Painting doesn’t require an outlay for expensive equipment or supplies, and you can add employees gradually as demand increases. Many painting businesses also offer supplementary services, like power washing, to increase revenue streams.
Cons
While a painting business can be successful, it does have some drawbacks. A painting business can experience fluctuations in demand depending on the season. Revenue may dip during the winter. Hot weather can also impact the paint’s ability to adhere properly.
Although painting is in demand, the average ticket price for painting businesses is on the low side. One painting franchise requiring an initial investment of $126,701, reports an average ticket price of nearly $27,000. But in general, the average cost to paint a small bedroom is close to $400 and a home exterior is $3,000. This requires a lot of smaller jobs to recoup the initial investment.
Concrete Craft: An Alternative Opportunity
If the downside of a painting business outweighs the benefits, consider a different home improvement opportunity. Concrete Craft is the No. 1 decorative concrete franchise, providing hand-crafted concrete resurfacing, including stamping and staining, and concrete repair at half the cost of other materials.
The popularity of polished and stained concrete floors, stamped concrete patios and driveways, and other decorative concrete applications is surging, as customer search for low-cost alternatives to improve the appearance of their homes. And, the versatility of concrete allows for endless design options, appealing to customers looking for unique aesthetics.
The artistic flair and technical knowledge required to provide decorative concrete services command high average ticket prices. The average ticket price of all Concrete Craft franchisees was $9,600 in 2023.*
Our strong franchise system with more than 85 locations also enables owners to benefit from group buying power for supplies and brand recognition in your protected territory. We offer a comprehensive marketing program, branded products, and tested procedures to ensure customer satisfaction. And you’ll get the training you need to ensure you get five-star reviews for your service.
Learn More About Concrete Craft
To learn more about partnering with Concrete Craft to be your own boss and achieve financial freedom, submit a franchise inquiry form.
*See FDD for details.