As with everything, balancing what you can afford regarding commercial painting projects and what needs to be done is a delicate act. This is especially true if your overall maintenance budget hasn't matched the work you've already carried out. Similarly, budgeting for unexpected complications can be very tricky. There are two primary methods for projecting budgets for commercial painting projects, and both are very simple, with a little time and practise.
The Purpose Driven System
Purpose driven spending is the most natural way to think about budgeting, especially budgeting for commercial painting projects.
You allocate the budget to the section of your business most likely to benefit from the project. Or, more simply put, why do you want to start a commercial painting project?
Under this system, painting can thought of as day-to-day facilities conservation - making it an intuitive approach to budgeting because painting is often considered a preventative means of limiting damage to a building or structure. On this view, painting ought to allocated to the maintenance budget.
That said, painting does more than prevent damage later on, and has a more superficial benefit too - namely, that well maintained structures, from a retailer's perspective, directly translate to a more successful business. Think of it this way: if you encounter two shops selling identical items - one is pristine and well-maintained, and the other is shabby-looking - which shop do you choose to purchase your item from? Of course, you choose the first. As a result, painting also plays a part in the marketing of a business, so could also be allocated to your marketing budget.
Whichever case better represents your reasons for beginning your painting project, allocate your budget accordingly - or, if it's elements of both, then divide budgeting duties.
If your business model regularly accommodates outsourcing of services, budgeting for commercial painting projects by changing the contracting process can really save you money, as well as time.
Job order contracting systems take preset base prices for various services and determine the overall cost of what's needed by multiplying relevant base prices by a co-efficient.
The main downside of this system is that it can look a little daunting to newcomers, and the cost of most projects will become complicated to calculate when you get down to it. If you find yourself a little overwhelmed by this system, then it's well worth employing the services of a professional to help you budget for your commercial painting project.
As a final word, while it is possible to employ both systems across all your facility budgets, as a general rule of thumb, it's better to pick one based on the majority of your budgeting needs, so that management approval can be met with minimal confusion, and your painting budget can be met with ease.
If you'd like further information on budgeting for commercial painting projects, or you're looking to start your own, contact The Painters Group in Toronto now on (905) 294-7777.