Painting NoCo | Application Preview
Painting NoCo is seeking government grants to enhance its strategic marketing efforts and invest in business systems aimed at scaling growth. The company currently generates $75K in revenue, significantly impacted by COVID, with an ambitious target of reaching $300K over the next two years.
The business plan focuses on transitioning from a hands-on painting role to leveraging a business degree and MBA to drive growth through marketing and high-quality contractor selection. After establishing a positive reputation over 8-9 years, the owner aims to initiate business scaling that had been stalled due to the pandemic and recent inflation. Market-tested pricing models and customer profiles have been developed to attract the right clientele, with an ultimate goal of hiring 1-3 full-time employees and pursuing more government and commercial contracts.
Approval for funding is justified by a strong track record of successfully growing from part-time to a respected business that supports local contractors. Investment would create more stable job opportunities for subcontractors facing work shortages. Additionally, a focus on generating first-time clients could lead to increased referrals, boosting project volume in the following year. Past performance has shown that satisfied clients can yield multiple referrals, significantly enhancing business prospects.
The competitive landscape includes Foothills Painting, Certapro, and M&E Painting, who currently dominate. However, Painting NoCo’s competitive edge lies in its commitment to higher-quality materials and project execution, fostering client relationships rather than treating transactions as one-off deals. The business also prioritizes fair wages for subcontractors, ensuring quality personnel are engaged in projects. A 5-year labor warranty is offered due to the low occurrence of project rework, which further distinguishes the company from competitors. Client feedback often highlights dissatisfaction with competitor services, reinforcing Painting NoCo’s aim to elevate industry standards and improve workforce quality in the region.
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General Information
Business Registration Number: Painting NoCo
Location: Loveland, CO, United States
Length of Operation: 6-10
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: NO
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Funding Usage
Investment in strategic marketing to grow the business. Having more projects will help retain the subcontractor pool that is not being kept adequately busy. The funds will also be used to invest in business systems that will help scale the business. Current revenue is $75K post-COVID impact and the goal is to grow to $300K over 2 years.
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Business Plan
Instead of being the primary operator in the business (painter), I will use my business degree and MBA to scale the business through strategic marketing initiatives and qualifying high-quality contractors. I have developed a reputation of high quality over the last 8-9 years, but have delayed the launch into scaling the business due to a slowdown with COVID and recent inflation. I have market-tested better pricing models and created customer profiles that will be the ideal fit for my business services. Ultimately, I would like to be profitable enough to support 1-3 full-time employees. I also plan to get qualified for bidding on government projects, bid on more commercial projects, and simplify my residential offers to better scale the business. I have a track record of successfully scaling from a part-time business to building a positive reputation supporting other small businesses and contractors in my area. Further investment in my business would help me scale that positive impact and provide more stability to struggling subcontractors asking me for more work. Historically, we get 3-5 clients per delighted client served as a word-of-mouth referral. A goal of this grant is to get more first-time clients to begin that client-referral snowball going again. A larger investment this year will historically lead to a larger season the following year. For example: if we paint 2 houses in a neighborhood and the clients are delighted with the results, word of mouth will lead to 6-10 projects in that neighborhood the following year.
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Self Identified Competition
Foothills Painting, Certapro, and M&E painting are dominating this market. My offering is focused on providing higher-quality paint and application. Instead of having a transactional exchange with clients like many of my clients, I focus on building relationships and introducing my clients to other contractors that can help serve their needs. On principle, I offer subcontracting crews higher wages/contracts to attract insured professionals that will best serve my client's needs. My competitors do not always use insured subcontractors and this helps them undercut my pricing. Additionally, though we offer a 5-year labor warranty - it rarely needs to be executed as we do the project right the first time and this delights our client base. The feedback we get from our clients is that our competitors did not deliver the services they were promised and often we're fixing their work. We'd like to create more competition in the area to bring the overall quality of the industry up to a higher standard. This will better serve clients and lead to a better-trained workforce.
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Contact Applicant
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