Painting leads are often considered a throwaway product by many painting contractors because they offer little to no profit margin. However, there are strategies that can be used in order to increase the revenue from these products:
-Developing a pricing strategy for your company’s paints is key. Lower prices may lead to higher volume but lower profits per gallon while higher prices will lead to less sales and more money earned per paint unit sold. Determinations should be made based off of factors such as local demand and competition within the area of operation when deciding on what price point you would like your company’s paints released at; this information can then be utilized throughout all marketing materials including flyers, brochures, advertising campaigns etc., thus informing consumers up front of the pricing they can expect.
-Releasing a higher volume paint product such as an oil based or latex low odor, which may cost more to produce but will lead to greater profits for your company through increased sales and lower price point per gallon.
-Creating custom paints that have high levels of coverage yet are budget friendly is another way you can increase profitability while also appealing to consumers looking for products with eco-friendly qualities. This strategy involves creating custom colors in order to meet specific needs from clients like hospitals who require sterile environments without increasing their costs on exterior maintenance items like fertilizer & pesticides; these types of specialized paints would not be feasible if it weren’t for companies developing them at a fractional additional production cost due to the low volume of production.