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How to Start a Paint and Sip Business in 2021

 

Every New Year comes with new opportunities. How to start a paint and sip business in 2021 is a great business opportunity and so will be the focus of this practical guide. The question we are asking now is, have you ever considered or showed any interest on how to start a paint and sip business? You don’t have to worry anymore, if you have or have not, as the aim of this practical guide is to help educate and inform you on the required steps you have to take on how to start a paint and sip business.

Generally speaking, a paint and sip business is simply a business of running a painting class, where you get people together to paint in a fun-filled way, while offering a drink, as they learn or do the painting work presented.

According to available research findings, paint and sip businesses launched in the 2000s, and has boomed ever since, with more and more people taking advantage of this opportunities to start their own business. There is no doubt then that this will be a very good business opportunity to invest in.

The beauty of the paint and sip business model is that it mixes creativity and fun, so as an entrepreneur, would you not rather start a business that deals mainly with fun and creativity?

For the purposes of this practical guide, on how to start a paint and sip business, we will be looking at the following steps on how to get started.

  1. Register your Business
  2. Write a Business Plan
  3. Apply and obtain Permits/Licenses/Insurance
  4. Create a Business Model
  5. Choose a Niche
  6. Choose a Location
  7. Hire a Team
  8. Buy your Painting Supplies
  9. Decide on your Price List
  10. Choose a Franchise Partner
  11. Market your Business

 

  1. Register your Business

The first step in starting any business is to get your business registered. You may decide not to register if you only want to run it as a hobby, but no long as you want to run it as a professional business, it will then be mandatory to get your business registered. The registration process will depend on the operational guidelines of your state or country.

The first step therefore is to contact the company house of your state or country and get your business registered, using the available option of either a sole proprietor, limited liability partnership or limited liability company, we will however advise that you register as a limited liability company, as this option protects you from personal losses, when the business goes downhill in the future. You can however, seek the advice of a lawyer for counsel on the best form of business legal structure that will be best suited for your business.

Once you have your paint and sip business registered, the next important key step then is to register your business with the revenue board, for tax purposes, as your business will be expected to pay taxes depending on the state or country, you will be operating from. When registering for taxes, also ensure that you apply and obtain Employer Identification Number (EIN), as this will serve as a form of social security number for your business.

You may also have to register a domain name for your newly registered business, and create social media channels, if the name is available, as you might need it for the marketing purposes of your business.

  1. Write a Business Plan

It is very important that you write a business plan for your paint and sip business, as your business plan will serve as the road map and compass for your business, as this will guide you on the necessary steps to take to make your business profitable.

The process of thinking through the process of writing your business plan, will help you understand who your target audience will be, how much you will charge for your services, the financial cash flow for your business, your marketing plan, etc. For the purposes of this practical guide, we will not be highlighting the key elements of a business plan, we have already covered that, so you can check it out here: https://freemoneydomain.com/how-to-start-a-home-business-in-2021/

  1. Apply and obtain Permits/Licenses/Insurance

Depending on the state or country you live in  or will be operating from, there are chances that your new paint and sip business, will need certain permits and licenses to enable your business to operate smoothly. It is therefore required that you contact your state chamber of commerce or any other relevant associations, so as to find out the types of permits and licenses you will need to operate your business.

Once you find out the permits and licenses, you should then apply for them, so as to keep your business on the side of the law.

For instance, you may want to install CCTV equipment, it implies that public surveillance license will be necessary. Also, there is the likelihood of you having music in the venue, if you do, a noise, and general disturbances licenses will be a requirement.

With your permits and licenses, you will have to also apply for an insurance cover, which is a very big essential for your business. Starting or running a business, does not always go the way you plan, so it is very imperative to contact an insurance broker to find out the types of insurance covers that your business will need. For instance, some of the clients during your painting classes might get injured, so it then very important that you have an insurance cover to protect you from such occurrences.

  1. Create a Business Model

You should create a business model for your paint and sip business, as there are different or varied models you can adopt. For instance, you can decide to choose a model, where you charge your clients individually or as a group, you can also decide to sell alcohol/drinks on your venue, or you can allow your clients to come with their own drinks.

So starting a paint and sip business will therefore demand that you choose a business model you will have to adopt from the beginning so as to enable you have a direction for your business. For instance, if you don’t have a business model, there will be confusion, if for instance, you sell drinks in your painting classes and the clients are also coming with their own drinks.

  1. Choose a Niche

Choosing a niche for your paint and sip business will help to stand you out in your new business. There are different options of choosing either “boy’s night out group” or “house wives painting class”, which will help you decide if you will be offering craft beer or wine. There is also the option of catering for kids and serving them juice or date night out classes.

According to Brian Bullard of The Paint & Wine Studio National Training Center “Creating a unique business is not the matter of copying the exact model of a competing business and “painting” it a different colour. If this concept is employed, the only thing setting you off from the competition is the price, and inevitably, novices believe if they copy a successful business and offer a lower price they will be successful — which couldn’t be further from the truth.”

So you have to think through the niche that will be profitable and sustainable for your new paint and sip business and choose the niche that will the best fit for your business.

  1. Choose a Location

A good location for your paint and sip business will to a large extent determine the success or otherwise. So choosing the right location, will be a very important decision to take. If you don’t have a big enough space at home to start, it is then expected that you rent or lease a new space and ensure that it is a location that your prospective clients can easily access and such that will also be conducive for a painting class and the fun of sipping of drinks that comes with it.

We will suggest choosing a location that is in a business district or centrally located, with large enough space, as this will increase your chances of getting booked out easily, as clients can easily walk in a book for a class.

  1. Hire a Team

You may not necessarily have to be an artist to start a paint and sip business, as you can hire instructors and other support workers, who can help you interact or chat with your clients as they do their painting and sipping.

So you will have to hire a team/staff that will help you with the running of your paint and sip business, which their tasks may include handling of bookings, customer service, providing assistance for the painters and serving of drinks, while classes are going on.

It is therefore important from the beginning that you set up a system for employee hire. Your system should help you answer the questions? How will the staff be paid? How will you recruit new staff? What will you work out their working hours?

It is then key that you have a system that will help you hire and manage team members of your paint and sip business, as the type of staff or team members you have will to large extent determine the success of your business.

  1. Buy your Painting Supplies

Running a paint and sip business implies that you will need canvasses, brushes, paints, and other types of accessories. It is therefore expected that you source for wholesalers that can help you with the best prices that will be within your budget. You should  be mindful when choosing a wholesaler  that quality is key, so it is important you choose a wholesaler that offers quality products, and such that will be willing to deliver your supplies whenever you make requisition for the materials.

Create a Price List

In as much as your paint and sip business is a mix of creativity and fun, it does not mean you will not charge your client for the services, so creating a price list for your services will help you know what to charge your clients. For instance, you should have prices for private parties and individual classes. You should then create your price list after you have taken into account your expenses, not forgetting expenses like rent and utilities, and then choose a price that will enable you make a profit.

  1. Choose a Franchise Partner

You can make the process of starting a paint and sip business easy by considering buying a franchise. As buying of a franchise will give you access to support and guidance, and you will also start your business, drawing clients, who will rely on the brand recognition of your franchisor.

It will be good to state that your background or work experience may not necessarily matter when considering buying a franchise, as you can draw from the support and guidance of the franchisor and other fellow franchisees.

According to Franchise Chatter, the best paint and sip franchises for 2021 are:

You may have to first consider Painting with a Twist for your franchise as they offer extensive gallery and training, with their franchise fee starting at $25,000 and it comes with a proprietary online system, a fun culture, and economical prices for supplies.

You may also have to consider buying a franchise from Pinot’s Palette, as they have been rated by franchise business review as a top rated franchise. Pinot’s Palette started business in 2009, with their first studio in Houston, Texas, and since then have spread across United States and Canada, and now boast of over 1 million paintings to their credit.

Pinot’s Palette franchise requires a minimum capital investment of $80,000, depending on location and format of business and they also offer 20 percent franchise fees discount for veterans.

Other companies offering franchises are Pretty in Paint with franchise fee starting at $14,000 and Broad and Brush, with their initial franchise fee starting at $25,000.

 Market your Business

A key factor that will determine the success of your paint and sip business, will be how effective you are with the marketing, as no one will know about your business if you are not willing or ready to market it. You can start the process of marketing your paint and sip business by building an online presence. You remembered we advised you to register a domain name and create social media accounts when you registered your business. You will need your marketing efforts online to share information on how clients can book for a class online, how to contact you, or how they can find out detailed information about what your classes or business offer.

Your business will also benefit from active social media presence and promotions, using Facebook and Instagram. You can also promote and market your paint and sip business with flyers, word of mouth or listing in business directories.

You can also buy search ads using google ads, classified adverts in local newspapers and social media ads to reach more customers online and direct them to your website where they can book a class. You can possibly also sponsor events or use outdoor adverts if you can afford it.

Final thoughts

Paint and sip business and a fun and create way to make money by meeting the needs of your clients and we have through this practical guide, provided all the details you will need on how to start a paint and sip business in 2021. The big question is, are you willing to follow the steps? Will you be disciplined enough to get started with your own business?

You can prove this by taking the right steps right now. Action is cure.

What are your thoughts with regards to this guide and do you have any business idea you want us to write about? Let us know in the comment session.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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