Planning a Painting Budget
Posted Oct 14, 2019 by Dave Scaturro
Compared to everything else that goes into the management of a commercial or industrial facility, painting seems relatively simple. At the same time, it shouldn’t be taken lightly just because of how important it is to protect your investment. You want to make sure it fits into your capital budgeting strategy.
Understanding how to plan for your painting project is critical. You wouldn’t begin work on a new product or expansion without having an idea of how much it will cost you, and budgeting for a new paint job can help you get the most bang for your buck.
So, What Goes Into a Budget?
There are several key factors that go into the creation of such a budget. First and foremost, calculate the total square footage that needs to be coated. Next, think about the surfaces being coated and the demands placed on those coatings. This influences the type of paint you will need.
Secondly, know how easily crews will be able to access all affected areas. Depending on your facility, specialized equipment such as lifts, cranes or scaffolding may be required. Perhaps the single-largest factor in how big your budget will be (and whether or not you can stay within it) is the contractor you choose.
Selecting a painter based on a lower-than-expected quote could potentially lead to a lower-quality job, increased safety risks and unexpected costs to fix it. On the other hand, overspending when you don’t need to could break the bank just as easily.
How Do You Create a Painting Budget?
Here are some key takeaways:
- Know the specs. Having the most accurate information about the coverage area, accessibility issues and coating requirements will help you understand what to expect. The more data you have in the beginning, the more on-target your plan will become.
- Select your approach. You can plan from the bottom up or the top down. Starting at the bottom means talking to contractors first and requesting quotes. Working with the top-down approach means setting a cost figure first, then trying to fit the contractor’s services into that estimate. The advantage to the first approach is that it should be relatively accurate, while the other strategy makes it easier to remain within a fixed target.
- Always be prepared for overruns. Even if you’re certain that you planned for every detail, there’s always the possibility that something will go wrong "Murphy's law." That’s why you should set up a contingency reserve account inside your budget to cover any unforeseen issues.
Make Alpine Painting Part of Your Plan
At Alpine Painting and Sandblasting our professionals do everything they can to make your painting job go as smoothly as possible. We are very good at what we do because we like what we do. No other painting contractor we know of can boast more emphatically about their repeat customer rate than Alpine. We will work closely with you to identify your needs and suggest the proper way to handle them. Our expertise means we will be able to provide you with an accurate estimation of your costs. For information about our waterproofing, industrial painting, and tank/floor coating services, reach out to us today.