EP57: The Pro’s and Con’s of Adding Commercial Work
In this episode of the DYB podcast, the team tackles the differences and similarities between a residential and commercial painting contractor and how to move between the two especially if one would like to expand to the other, which is usually from residential to commercial.
The team discusses the advantages and disadvantages of taking on commercial projects. They share their company processes and give valuable advice on handling new construction projects, getting paid, dealing with general contractors and other challenges involved in commercial painting jobs.
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WHAT YOU’LL LEARN:
- The differences and similarities between a residential and commercial painting
- Pro’s and con’s of commercial projects
- How to add commercial painting to your business
- Challenges involved in commercial painting and how to handle them
“Residential is not always about the price, it’s about relationship and quality.”
“In the commercial world most of the time they’re not spending their own money, so they’re really just looking for the best result
“There is this misconception that, you need a better painter to do your residential than you do your commercial and I’m not sure that’s completely accurate.”
“When you’re working with a management company or a business owner, there’s no reason not to get a deposit because it’s really a similar transaction as to what you do day in and day out.”
“If it [a project] sounds too good to be true, it is too good to be true.”
“Having a credit line, I realize is a real tool for business.”
0:55 What makes a commercial project and what are HOAs?
5:50 Product quality in commercial projects
11:20 Relationships in both the commercial and residential worlds
19:37 New construction projects, general contractors and how to get paid
29:06 Other reasons for doing commercial work
LINKS & RESOURCES MENTIONED IN THIS EPISODE:
ADDITIONAL FREE RESOURCES:
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