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New subscriber here and Great discussion guys 👍 I'm a painter here in the UK (working for myself) work is going really good and booked in for about 4-months in advance. I'd love to grow the business. I have ideas for adversting on Google and Facebook, however what i cant wrap my mind around is getting other good painters on board and paying them well and making a profits? Any advice on where to start? Thanks Ty.
Hey Ty, love this question! This is actually kind of the root issue as to why most people can't grow their business. Our advice is that you need to *currently* be pricing your work to be able to afford to pay somebody else. Build that into your current pricing model and charge that NOW, even before you’re paying the new hire. So, if you’re currently charging, for example, $35/hour because that's what you want to make, you need to raise your price to a number that allows you to pay for somebody else, too. So, whatever the going wage is in your area plus any taxes and burden and cost. So, let's just pretend you’ve got to pay a new hire $20/hour plus taxes and things like that (typically about 20-25% more than the actual cost of the hourly wage). Take that number multiply it by three. That's gonna give you a pretty good idea of what you need to be charging per hour. Business isn't always that simple, but that's a pretty good starting place. This is a continuous problem that, right now, it's hiring the first painter - but then it becomes hiring the first admin person to help with answering the phones and scheduling the work, and then it becomes hiring the production manager or sales rep, etc. etc. Bottom line is: We have to build into our current pricing the ability to afford the future hires. Hope that helps!
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He said he has 6 sub crews he works with. Where would you recommend finding subs? Amazing video and great info, thank you!
One place to start is with your local paint vendor Reps. For example, ask your Sherwin Williams Rep if you buy paint from them.
@ thank you so much!
New subscriber here and Great discussion guys 👍
I'm a painter here in the UK (working for myself) work is going really good and booked in for about 4-months in advance.
I'd love to grow the business. I have ideas for adversting on Google and Facebook, however what i cant wrap my mind around is getting other good painters on board and paying them well and making a profits? Any advice on where to start?
Thanks
Ty.
Hey Ty, love this question! This is actually kind of the root issue as to why most people can't grow their business.
Our advice is that you need to *currently* be pricing your work to be able to afford to pay somebody else. Build that into your current pricing model and charge that NOW, even before you’re paying the new hire.
So, if you’re currently charging, for example, $35/hour because that's what you want to make, you need to raise your price to a number that allows you to pay for somebody else, too. So, whatever the going wage is in your area plus any taxes and burden and cost.
So, let's just pretend you’ve got to pay a new hire $20/hour plus taxes and things like that (typically about 20-25% more than the actual cost of the hourly wage). Take that number multiply it by three. That's gonna give you a pretty good idea of what you need to be charging per hour.
Business isn't always that simple, but that's a pretty good starting place.
This is a continuous problem that, right now, it's hiring the first painter - but then it becomes hiring the first admin person to help with answering the phones and scheduling the work, and then it becomes hiring the production manager or sales rep, etc. etc.
Bottom line is: We have to build into our current pricing the ability to afford the future hires.
Hope that helps!
@@paintscout Brilliant response and noted 👍 look forward to future content!!