8 Ways To Make MORE Money In Your Furniture Painting Business In 2018
With 2017 closing out, it’s a time of reflection of how we did in our businesses this year. I hope that’s a fun and excited time for you!
Unfortunately though, for many, it is not be such a happy experience.
Maybe you wished you had made more money in your business.
Maybe you said to yourself at the end of 2016 that “2017 will be the year I quit my 9-5 and paint full time” and that just, well, didn’t happen.
It can be frustrating….and defeating!
If this is how you feel right this moment, I want to hug you through the screen, because I was in this same exact boat a few years ago. I was so disappointed in myself. We were barely making ends meet, and most of the time it felt like I spent more money on painting supplies than I actually made.
I want to share with you the things that I incorporated into my business to increase my income streams. These are the things that really turned things around for me, because YOU DESERVE to have a thriving business that provides for you and your family!
So, let’s get right to it shall we? Here are 8 ways you can make more money in your furniture painting business in 2018!
1. Buy Furniture, Paint It, and Sell It.
This is pretty much the industry standard thing so you’re probably saying “Duh, Amy, I already do that” but it’s on this list for increasing your current pricing. If buying, making fabulous, and selling is your bread and butter, increasing your pricing by even 10% will add some dollar bills to your bottom line. Remember, you can always go down on your pricing, but you can never go up. Take a chance and price on the high end for your area and see what happens! On the flip side, with soooo many painters in the world, this cannot be your only form of income as a furniture painter. So with that said, let’s get on with the list shall we?
2. Flip Unfinished Furniture
Do you have a furniture hoard you’re sitting on? Start selling it and make some moolah! I totally encourage you to cash in on some of those amazing deals you’ve gotten and turn some profit. Don’t worry, the furniture market isn’t going to dry up, you’ll still find amazing deals to pick up in the future. My rule of thumb is to triple but nothing lower than double my money on unfinished furniture. If you put some real hustle into buying and selling unfinished furniture, you could totally make a killing!
3. Provide Custom Furniture Painting Services
The best part of doing custom furniture painting is: no inventory needed! You can make really really good money painting other peoples furniture for them. You can have them drop off and pick up at your location, and you get paid well for your talents. Win-Win for you! This option works really well if you want to be able to have consistent income. Schedule people months in advance and you’ll be able to gauge if you are meeting your business income goals. Smart business move here!
4. Work With A Paint Line
Whether you become a re-seller of a paint line, or just a brand ambassador, there is defiantely money to be made in working with a paint line. Start by reaching out to your favorite paint company and see what they offer. Some will require you to invest in becoming a re-seller. This is great if you have a brick and mortar location, or you have a booth inside of a brick and mortar. You’ll also be able to get your own paint at wholesale cost, BONUS! Some paint lines have affiliate programs where you can earn a percentage of sales you send their way as a brand ambassador. This option is great if you don’t have a brick and mortar or booth inside a brick and mortar. Either way, working with a paint line is a good solid decision to grow your business.
5. Become An Amazon Affiliate
Why not make money on things you use anyway! Can I get an Amen here? It’s soooo easy to sign up to become and Amazon affiliate and make money recommending all the supplies you use on a daily basis. As an added bonus, when someone clicks on your link, your special code or “cookie” as they call it will apply to all the other things that person buys while they’re there on Amazon. Imagine making a percentage on a multi thousand dollar purchase of an ATV! It’s HAPPENED!
6. Teach Other People To Paint Furniture
Do people contact you just to “pick your brain”? I know. That’s frustrating. But here’s the thing, teaching people how to paint furniture well can be a very lucrative gig. Many people love the satisfaction of knowing they did it themselves. They’re proud to say they made something old and yucky gorgeous like we do! Don’t be worried. They aren’t out to take your business. You can offer private classes, group classes, or online classes….it’s all about what you are most comfortable with. On average, I make $400 per hour when I teach an online class. That’s good money Girlfriend, and something you should definitely consider!
7. Add In A Direct Sales Product
I know this seems like it doesn’t fit, but hear me out. The direct sales market is huge, and people buy from people they know, like, and trust. People may see you wearing cool jewelry and say “Wow, I love that necklace! Where did you get it?” or “OMG your house (or shop) smells ahhhmazing! What is that?”, and THAT is your prime opportunity to turn something you already use and love, into profit! With so many options out there in the direct sales world, you are bound to find something you can really get behind!
8. Offer Additional Services
Offering additional services to the furniture painting services you already offer is an excellent way to drive more income your direction. Services like Kitchen Cabinet Painting, Bathroom Vanity Painting, and Front Door Facelifts are perfect additions to Furniture Painting Services. If you have a knack for decorating, then Staging Services, Interior Design, and Holiday Decorating may be services you’d love to offer. On top of these, think about Garage Door Painting, Interior Wall Painting, Deck Staining, Furniture Refinishing (the stripping and re staining kind), or if you’re handy (or have a handy hubby) Custom Built Furniture. I could go on and on here….like Plank Walls, Faux Finishing (it’s making a come back!), or Custom Made Decor and Signs. The possibilities are ENDLESS! So sit down and start making of list of stuff you’re good at, and add in some additional services!
Well, there you have it! My top 8 ways to make more money in your furniture painting business in 2018!
Do any of these stick out to you??
I’d love to know which one (or ones) your planning on adding to your business next year! Leave me a comment mmmkk??
Till next time!