If you’re a new paint party business owner, one of the challenges you are likely facing is how to balance costs so that you make a profit. Here are my top tips for keeping the cost to start painting down so you can turn a profit and grow your business.
Are you new to growing a paint party business? If you’re anything like me, there are probably a few things you didn’t know or realize when you first started it.
The learning curve to owning, running, and growing your own business can be steep!
One of the first struggles I faced early in my business centered around the costs associated with starting a paint party business. Although I felt alone at the time, I now know that almost every new entrepreneur faces similar challenges.
After lots of trial and error and plenty of “skinned knees,” I have learned some important lessons that I think will help you on your journey. And I’m sharing them with you!
How Much Does It Cost To Start Painting As A Beginner?
How much does it cost to start painting as a beginner? Well, I don’t see that question as one with a definite dollar amount answer. Instead, I see the answer in terms of tips for ways to reduce costs. Here are my top tips.
1. Buy What You Need As You Go
In order to paint you need supplies. That may seem like a no-brainer (and it is!), but what’s not quite as obvious is that you don’t need to have all. the. things. right away.
“Spend money on things you don’t need in order to make money,” said no one, ever.
You don’t need to have paint in every single color or every single paintbrush size.
My point is simply that you don’t need to spend on supplies you don’t NEED to have. Instead, buy only what you need as you go along. You’ll save more money.
2. Keep The Cost To Start Painting Lower By Purchasing Affordable Supplies
Paint parties are gatherings that are about the experience of enjoying an evening together while creating beautiful art.
And you can absolutely create beautiful art without paying tons of money on expensive art supplies!
I buy nearly all my art supplies at Hobby Lobby, Michaels, and Amazon because they have great selections at affordable prices (especially if you can use their store coupons).
And as you begin to build up your supply of easels, aprons, brushes, paints, stencils, etc. you’ll be able to reuse many of these supplies to reduce costs over time.
Here’s my list of the top 20 art supplies I use at my parties. Remember, start with the basics and then add on!
3. Carefully Choose Your Hosting Venue
If you host a painting party at a rented venue, you will need to pay for both the venue and the food and drinks. On the other hand, hosting at your house means you don’t pay for the venue but pay for food and drinks.
The best option is to host your event at a restaurant. There’s no venue fee, and the customers pay for their own food and drinks.
4. Use Economical Marketing Strategies To Keep The Cost To Start Painting Down
There’s no need to place ads or do any expensive marketing. Instead, use the power of social media, email, and word of mouth to spread the message about your events.
5. Turn A Profit With Every Party
Your overall goal is to walk away with cash in your pocket at each event. Turning a profit is important for helping you to stay motivated and being able to use that money for yourself and your family.
Determine what you pay for supplies for each party and make sure factor in other overhead expenses as well such as rentals, food and drinks, and advertising if you paid for any of those items.
Use this graphic to help you figure those numbers out.
Want to learn more? Join me inside Paint Party Headquarters where I walk you through how to host a paint party event (in-person or online) that makes money! I’ll give you all the info, tips, and ideas you’ll need to make hosting a successful paint party profitable.