The global market for powder coatings is going to reach $17 billion in a few years. Powder coatings make up 15% of the industrial finishings market.
It’s because they’re durable and come in a wide range of colors. It’s what potential clients are looking for.
What does that mean for you if you’re in the powder coatings industry? It’s a great time to start your own powder coating services business.
You can take your expertise and build a thriving business. There are plenty of risks when starting a new business. It’s crucial that you build a strong business at the start to overcome the challenges.
Don’t go anywhere, because you’re about to learn what it takes to start a powder coating services business.
Write a Business Plan
The business plan is the most important document that you’ll write. This is how you build the foundation of the business. It proves that there is a market and opportunity to build a profitable business.
You’ll discover how much money you need to start the business. You’ll find that it’s expensive to start a powder coating business.
You’ll research the equipment you’ll need, like powder spray booths and spray guns. Research the powder coating process and determine how you can set your business apart from the competition.
Determine your ideal clients so you can formulate a market plan later on.
Finance the Business
It costs thousands of dollars to start a powder coating services business. Don’t forget to put funds towards your marketing budget, too. Plan to have a few months of little to no income as you build up your client base.
You can finance the business yourself or you can find outside investment. Take your business plan to banks to get a loan if you want outside investment.
That will help you start the business and take the pressure off of you from having to get clients immediately.
Get a Location and Equipment
As soon as you figure out funding for the business, you’ll need to buy powder coating equipment and a location for your business.
An old warehouse or industrial space would be perfect for your business. You’ll be able to store your systems and equipment there.
Find a reputable vendor to purchase powder coating equipment. You should know your options based on the information in your business plan.
Get Smart at Marketing
Getting clients consistently is the hardest part of running a business. Understand what you offer, to whom, and why your business is better than the competition.
Communicate that your business understands the challenges that potential clients have. Show that your company can help them meet those challenges. You’ll find it easy to get clients.
Jump Into Powder Coating Services With Your Own Business
There’s a lot of growth in the powder coating industry. You can start a powder coating services business and create something very profitable.
Take the time to investigate the industry for your business plan. It’ll make financing and the other steps for starting a business easier. You’ll end up with a solid business platform.
If you want more tips and advice to start and grow your new business, check out the other articles on the blog.
