How 360° Painting Stayed Ahead of the Paint Shortage

360° Painting, the residential and commercial painting franchises with over 140 units, has been seeing explosive growth over the past couple of years as other businesses struggle through the ongoing challenges of the COVID-19 pandemic. During Q2, the brand saw sales almost double — up to $15.34 million from $7.7 million in the first quarter of 2021 — following a year of increased demand as homeowners spent more money on home improvements and repairs.

But, as is the case with many sectors, not all painting brands have been able to keep up with this pent-up demand due to unprecedented supply chain disruptions, increased shipping costs and labor shortages. As a result, many painting businesses have had to reluctantly raise their prices.

Producer prices for painting and coating manufacturing went up 10.6% year-over-year in August, according to CNBC, the biggest annual jump since January 2009. At the same time, sales at paint and wallpaper stores have increased, up 7.8% annually in June to $1.34 billion. With paint shelves at half-full and certain products out of stock, many are struggling to find the paint they require, and experts believe that prices could continue to rise.

360° Painting has managed to keep its prices down thanks to its partnership with the national brand Sherwin-Williams. “In certain instances, reasons for the increase may be shipping costs to get paint faster, travel costs for stores further away or changes in the type of painting we are using on a job,” said Dave Rychley, president of 360° Painting. “We have seen a 5% increase to our franchisees on most products at Sherwin-Williams. Our franchisees buying paint at other stores are seeing even higher price increases.”

By partnering with major suppliers such as Sherwin-Williams, 360° Painting allows customers to choose from a wide range of water and oil-based paints selected specifically by the brand for their performance, resilience and workability. And keeping prices relatively low not only benefits customers, but also ensures 360º Painting franchisees can continue to stand out from the competition and satisfy homeowners in their communities.

These types of national partnerships are some of the primary benefits that come with the backing of parent company Premium Service Brands. In addition to vendor support, the franchisor provides comprehensive training, marketing and technology systems so owners are able to continue receiving nearly 100% positive feedback from customers.

“We work hard to provide the systems, resources and relationships franchisees need to succeed, so that when issues like the supply chain challenges come up, they are prepared,” said Iric Wexler, the brand’s chief development officer. “That is why we continue to sign new franchisees while simultaneously seeing a boost in year-over-year sales. Looking ahead, we will continue to navigate the post-pandemic landscape and provide as much support as possible to our new and established franchisees so they can help homeowners who are looking to make improvements to their spaces.”

Now, 360° Painting is looking for qualified franchisees who are eager to join a well-established, supportive and resilient brand as it expands to new territories across the country.

The startup costs for a 360° Painting franchise range from $101,350 to $145,000. The franchise fee is $65,000. To learn more about franchising with 360° Painting, visit https://www.premiumservicebrands.com/360-painting/.