Business Challenges: Painting Through A Down Economy

The pandemic is presenting numerous business challenges for painting contractors. In this article, we explore three ways you can mitigate your risk and build for the future during these challenging economic times.

 

1. Shift to exterior work

 

Some customers may be uncomfortable with having painters and other tradespeople in their homes right now. One way to practice social distancing while still booking jobs is to focus on exteriors. Since they don’t require as much social contact, customers may be more open to exterior projects.

 

Further, use this as an opportunity to offer potential new customers a “touchless” exterior repaint experience, by discussing the project over the phone, walking the property by yourself and e-mailing your proposal.

 

Also, consider moving up some of the future exterior work you have already scheduled.

 

2. Expand into different markets to face business challenges

 

In times like these, the work opportunities can often shift dramatically. The most successful painting companies are those that are capable of pivoting quickly to find work where demand is highest.

 

As noted above, interior specialists may find success by opening up to exterior work during events like the pandemic. In addition, if you currently only do residential painting, you might consider making some bids on light commercial projects. Smaller-scale jobs like restaurants and retail stores are a good starting point. Utilize many of the skills and systems you’ve already mastered in your residential work.

 

Shutdown work is another segment worth exploring. This term refers to projects related to a plant or manufacturing facility shutdown for upgrades, closing, maintenance, etc. With many plants in shutdown mode due to the pandemic, this could be a good time to offer your services to these kind of facilities.

 

Multi-family properties are another good opportunity to expand your business. Apartment construction has been growing each year for the past decade. With more people from every age group choosing the convenience of multi-family living than ever before. And since every building – new or existing – has ongoing painting needs, now is a good time to consider taking advantage of this opportunity.

 

No matter how you adjust, it pays to be creative, regardless of the market conditions or economic climate.

 

3. Connect with past customers

 

How are you currently promoting your business to get work? Owners of many small businesses are focused on attracting new customers. But past customers are just as important, and marketing to your existing customer base is a good way to drum up new business. Also, research has shown it costs about six times more to acquire a new customer than to sell to an existing customer.

 

The key is to keep your company “top of mind” so past customers continue to think of hiring you for new projects, and that refer your company to their family, friends and colleagues. One way to do this is to find ways to make them feel special. A customer’s birthday, wedding anniversary or the anniversary of the first time they did business with you are all natural times to reach out. Along with a card or an email note, consider including a coupon or savings offer that is substantial enough to be meaningful.

 

Bonus: Use social media to help with business challenges

 

Finally, if you use social media as a way to promote your business, you can promote your services by sharing relevant content on multiple platforms.

 

Keep in mind: What might usually be considered appropriate social media content might not be best suited to post now – or the tone may need to change. It’s a good idea to assess your social posts to ensure they’re suitable for the current situation.