Starting a paint booth online business can appear to be a daunting task at first look, however after breaking everything down it is very achievable. Paint booths are a great business to get into and should be seriously considered by entrepreneurs who are looking for a highly profitable evergreen business.
With that being said, getting into the paint booth business isn’t for everybody. There are many challenges that you will inevitably face. We recommend not considering the business unless you have a large amount of startup capital. Having your own startup capital is best but outside investors are also an option for this business. This is not a challenge for the beginner entrepreneur. These are high ticket items and the equipment may need to be insured. If there was accidental damage to your paint booth equipment it could end up being extremely costly and you would be responsible for the damage if you have not yet sold it. This business is best suited for serial entrepreneurs with a couple successful businesses under their belt.
If you are a novice to the paint booth industry you have a couple of options when starting out. You can manufacture your very own paint booths in-house or you can outsource your manufacturing to another factory. Outsourcing manufacturing is always a great option when first starting out. Later, after business maturity you can then begin to start building the necessary systems to manufacture the equipment yourself. This will help significantly with shipping costs and save money over time however it is important to understand that it will take a while for these costs to offset each other.
Why should someone buy your paint booths over someone else’s? This is one of the most important questions to consider when starting your business. Is your equipment cheaper? Better quality? Does it have additional technological innovations that the competition lacks? It is important to set yourself apart in this industry. Many of these companies have been around for decades and have a strong reputation. In order to stand out from the noise you will have to set yourself apart from the completion. There are many different ways to do this and it would be very upsetting to spend hundreds of thousands to millions starting up this business and then have your paint booths collecting dust in a warehouse.
If you are outsourcing your manufacturing it is extremely important to quality check your equipment. Multiple prototypes with extensive testing is highly recommended. I would advise against being risky with this business. You do not want to risk your reputation in the industry by cutting corners too aggressively.
After reading these past few paragraphs you may be hesitant to get into this wonderful industry due to the potential headaches listed above. However, do not let this stop you from getting into paint booth production. After the initial setup and once processes are streamlined this has the potential to be an extremely profitable business. Once the business is successful you can potentially exit and sale the company or even pass down the business to your family so that your company can live on for generations to come. Watching your equipment come to life is amazing. Watching the results of other companies utilizing your equipment for their endeavors is even more fulfilling. This is another excellent reason to get into the industry.
Profit. The profit potential of this business is another one of the reasons why you should consider this business model. Sure, there are more profitable businesses unlike a lot of different industries the value of paint booths are not going to go down in time. Consider the car industry, for example, if your vehicle doesn’t sale for 6 months it’s value could go down thousands of dollars. The paint booth price is very linear fortunately and has no depreciation curve for many years.
Diversity of innovation. Another important reason for in favor of starting this business model is the amount of diversity in choices that you have. In 2019 there are so many different kinds of booths. Leaving plenty of room for you to find your place in the market. There are inflatable booths, metal booths, and many more varieties. It make take some time to determine your exact place in the market and the market will ultimately decide where you belong.
Where is your place in the market going to be? Are you going to be going after large contracts with Fortune 500 companies? Are you going to be serving the mom and pop shop that needs a simple open front booth? You have many different options here. Paint booths can be built for about 2,000 USD at the very minimum and if you have done your research you can find that they even go up well into the 6 figure range. Some are even more expensive than that. This is an important decision that will affect your business destiny in this industry.
As you can see, there are many different aspects to this industry that you probably didn’t think about. You may be thinking that this is a great industry to get into and I may have helped provide support for this belief. However, you may be thinking the exact opposite as well due to the potential challenges that lay ahead if you decide to get into this business. With whatever your decision may be, we wish you the best of luck! May your potential journey into this endeavor be an exciting and fruitful one.
