How to Price Your Painting Jobs for Maximum Profit

Pricing is the difference between a thriving painting business and one that's barely scraping by. Price too low and you'll work yourself to death for peanuts. Price too high and you'll lose jobs to competitors. Here's how to find the sweet spot.

The Biggest Pricing Mistake

Most painters price based on what they think customers will pay, or what competitors charge. This is backwards. You should price based on your costs plus desired profit margin.

The Profit-First Pricing Formula

Here's the formula successful contractors use:

Total Price = (Labor Cost + Material Cost + Overhead) / (1 - Desired Profit Margin)

Know Your True Costs

Before you can price profitably, you need to know your actual costs. Most contractors underestimate their overhead.

Labor Costs

Calculate your true hourly labor cost including wages, taxes, insurance, and benefits.

Material Costs

Don't just estimate materials. Calculate exactly what you'll need and add 10-15% for waste and touch-ups.

Overhead Costs

Overhead includes everything that isn't direct labor or materials: truck payments, insurance, marketing, office expenses, etc.

Setting Your Profit Margin

A healthy painting business should aim for 30-40% gross profit margin. Don't feel guilty about this - it's what keeps you in business.

Presenting Your Price

How you present your price matters as much as the price itself. Always provide options.

Conclusion

Pricing is both art and science. Use the formula as your foundation, but adjust based on market conditions and the value you provide.