Comments on: Should this college student start a painting business?

By: quietgiant

quietgiant — Sun, 27 Jun 2010 03:46:44 +0000

you need insurance to do ant type of work. . . . . it is comparitivley cheap. . . . I am required to have 5 million worth of insurance to paint for some of my builders. . . . it costs me 3 grand for ins. . . and one paint job can be 60k plus so ins. is not a big deal you can get 1 million although 2 million is the most common. you can usually deduct the premiums come tax time, so you will not really loose any money carrying insurance,equipment is your largest expense other than employees,if you are doing all the work yourself ,then you will do ok,painting apt. turns is low margin,high volume work,so you will hopefully have a large complex or two to give you the volume you need to make good money,remodels and new construction are where the good money is also faux. . . learn the faux plasters and you will make the money of 10 apt . turns in one job. . . . . good luck

By: tim r

tim r — Sun, 27 Jun 2010 03:22:45 +0000

Get the insurance. Comparatively, it costs very little for the money you could make. Many times, a liability waiver can be torn apart in court. A good lawyer can make mince meat out of it.

All it takes is one or two full apartment jobs and you have insurance for a year. Look around and shop rates, you’ll be suprised at what you can find.

Good luck and all the success.

By: justcurious

justcurious — Sun, 27 Jun 2010 02:55:21 +0000

join college pro. They are college kids who learn to run the business while painting houses. Sounds like a win, win situation for you.
www. collegepro. com

By: go_lc_bears

go_lc_bears — Sun, 27 Jun 2010 02:14:25 +0000

The insurance isn’t to cover you incase you don’t finish, it is to protect you incase of accidental damages. I’ll give you an example:

A gentleman here in town was painting a newly finished basement with a spray gun, he was nearly finished when the lady that owned the house came downstairs and told him to stop, and that he needed to see something. He went upstairs to find small white specks on everything in the house. Furniture, walls, carpet, appliances, everything was covered by a fine mist of paint. The heat had kicked on while he was painting and blown the airborn paint all over the house.

His insurance paid over half a million dollars to return the house to the way it was. I certainly wouldn’t want to come up with that money.

By: Oya A

Oya A — Sun, 27 Jun 2010 01:16:15 +0000

It is a good idea. Here, where I live a group of enterprising college students started up their own cooperative business and they are doing really well. It is simply called Student House Painters.