These days, more and more people are choosing to be their own bosses. If this sounds like something you would be interested in, you might want to learn more about how to start a paint and sip business.
Teaching sip classes is a great way to earn extra money on the side, and unlike other businesses, it doesn’t take much to start your own sip business.
One thing that is great about the sip business model is that you don’t have to go out and spend tens of thousands of dollars to get started and attract clients. Obviously, if you plan on having your own sip studio, it will cost you more to rent a location for the sip company.
But, your business plan could revolve around teaching at clients’ homes and other locations instead of in a sip studio. Then you don’t have to worry about rent at all, and more profit goes into your pockets, increasing your cash flow.
Paint and sip parties are loads of fun, and a sip business can be quite profitable. If you are interested in setting up your own sip studio, read on to learn more about how to launch a paint and sip business.
What is a Sip and Paint Business?
There are actually a few different ways you can go about setting up a paint and sip business. In most cases, paint and wine parties are led by professional artists, often in a sip studio.
There are all kinds of sip and paint parties. Some companies use them as corporate events or team building events. Or, maybe someone in your local community wants to give others the chance to have contemporary art lessons.
For these paint and sip parties, people will invite their guests, and then the artist will teach a class. At the end of the sip classes, each participant will have their own work of art to take home with them.
So, how does paint and sip work?
Party Themes
These parties tend to involve wine or other liquor, hence the name, paint and sip. It is up to you to decide if you will provide the drinks, or if the guests will have to provide their own.
A paint and sip business plan can include ideas for many party themes. These can include but are not limited to, girls nights, bachelorette parties, or even a typical private party in clients’ homes or other sip locations.
Who Supplies Food and Drink?
When it comes to supplying food and drink, there are a few options. You can choose to do this yourself, and it will attract a lot of potential customers, as well as give you a bit of a competitive advantage over artists who do not provide treats.
If you are providing wine or other drinks and snacks, you will need to charge more for the paint and drink parties in order to see a profit.
Another option is to have the host supply food and beverages. In this case, you will need to adjust your rates in order to keep that competitive advantage.
Finally, these parties can be BYOB in nature. This means that the guests provide their own beverages. The host will likely provide some beverages, such as a bottle of wine, as well as snacks for everyone, unless this is part of what you offer.
Check our guide for more food ideas for paint and sip party.
You Provide the Painting Supplies
The artist who is teaching the class, in this case, you, provides all of the painting supplies that everyone will need for these private parties. So, you will need to set up a business bank account and take the funds for supplies from this account.
In order to have a successful paint and sip business, you will need to provide guests with paints, brushes, canvasses, palettes, and easels to use. Unless they bring their own supplies, or they have arranged to buy the supplies from you, you retain ownership of everything but the canvases that they paint on.
There may be instances where guests prefer to use their own paint. If they want to use their own paint and brushes, go ahead and let them. When they bring their own paint and supplies, it’s less money that you will have to spend.
On Location or In Sip Studios?
Some artists prefer to host these parties in professional sip studios. So, this would involve renting a studio location, unless you have space in your own home to set up a sip studio.
Other artists prefer to work on-location. This involves taking the supplies to someone’s home or another venue, and teaching the group painting lessons there.
If you have found an ideal venue for your event, check these tips on how to request a venue for your paint and sip class.
Is a Sip Business Profitable?
One of the first questions you likely have is, “Is a sip business profitable”.
Paint and sip parties have really taken off over the past couple of decades, and most business owners are enjoying good profits. This is an industry with a considerable growth segment.
If you have ever been to a paint and wine class, you know just how much fun it can be. Many people all over the world are enjoying wine and paint parties, and it is an easy business model to work with.
Startup Costs and Other Start Up Expenses
Obviously, you are going to have to come up with a business plan, and figure out how you are going to finance your new paint and drinking wine business. There will be several startup costs, but these initial expenditures should pay for themselves after one or two parties.
You may need to apply for a business license for your new sip business. This is something you will need to discuss with your local Chamber of Commerce.
Other expenses can include art supplies, wine glasses (if you have your own sip studio and provide beverages), marketing efforts, having a competitive analysis completed, etc.
You can read our guide on Paint and Sip Startup Expenses to learn more about all the costs involved.
Will You Need Bank Loans?
Depending on how you set up your sip business, you may or may not need to bother with bank loans. If you choose to take the paint and sip parties on the road to other people’s homes, you won’t need to worry about renting a sip studio.
On the other hand, if you prefer to have potential clients come to you, then you will need to have studio space, preferably in your business district. You can avoid taking out loans if you already have some personal savings for the initial investment.
Other Considerations
There will be many things to think about in order to create a successful paint and wine business. These include your marketing strategy, startup costs, your target market, whether or not you want a physical location, market trends, etc.
How much does a paint and sip business make?
The amount of revenue and profit a paint and wine business can make varies depending on several factors, including how often events are held, studio size and location, marketing performance, your profit margin after rent, supplies, and other bills as well as the level of competition in the area.
On average, a profitable paint and sip business can potentially bring in an average of $50,000 to $75,000 in net profit annually.
Larger and more successful paint and sip franchises, on the other hand, claim to bring in several hundred thousand dollars annually. This is one of the many advantages of buying a paint and sip franchise.
It’s crucial to remember that, despite the possibility of financial success, running a paint and sip business demands a large time, money, and effort commitment.
Supplies, rent, utilities bills, online and offline marketing, and staffing expenses can add up rapidly, and revenue may vary seasonally.
As with any business, success ultimately depends on factors such as customer satisfaction and retention, referrals or word of mouth and other effective marketing strategies, and strong management practices.
Paint and Sip Business Plan: How to Get Started
If you have decided that you want to learn more about how to start your own paint and sip business without franchise, the first step is to create a sip business plan. Your business plan template should include your business model.
Create Your Business Model
There are different ways that you can set up your business model. For instance, if you are using your own sip studio, you can choose to obtain a liquor license and sell alcoholic beverages to your clients.
Another model would be one that sees you going to teach at other locations, such as clients’ homes. In this case, you would likely ask that clients provide the alcohol or that each guest brings their own.
Don’t rush your sip and paint business plan, especially if you are going to be applying for financing. You want it to look professional and unique, to show potential clients and investors that you have something great to offer.
Come Up with a Catchy Paint and Sip Business Name
You are going to need a catchy name for your new business. Take your time with this, so you can come up with something that is going to stand out from other sip companies.
Here are a few examples so you can get an idea of what other sip and paint business owners are doing:
- Pinot’s Palette
- Painting with a Twist
- Wine & Design
- Board & Brush
Once you have decided on your sip and paint business name, make sure you secure a domain name for your website, as soon as possible. It is important that your URL matches your business name.
Create Your Sip and Paint Business Website
Okay, so you have a business name for your painting studio and a URL. Now, it is time to build your website, which is going to be a big part of your digital marketing.
A business website is one of the most important things for any business these days. It could be one of the first things that new customers will see when they go online to set up their event. The right website will help you to attract customers.
As a business owner, you have a couple of options when it comes to setting up your website. You could launch your own website (even without being a techie) and have it all ready to go in less than an hour. Check out Kadence, where you can easily build your own business website for free.
If you would rather have someone with more experience building your site, there are many designers out there, as well as ready-made themes that you can purchase. If you choose to use a designer, make sure that you give them all of the information they need to create a website that is going to showcase your fun business in the best light to attract clients.
Social Media Platforms
In addition to your website, you also need to think about your social media platforms. There are both paid and free options that you can use in order to create a prosperous business.
Don’t limit yourself to the free stuff on social media. The old saying, “you need to spend money to make money” is so true! Your market analysis will help you decide which social media to use.
Look into All Legalities
Every municipality has its own rules and regulations for small business owners. As mentioned earlier, if you need to find out about a business license or other legal issues, it is best to go right to the source, which is usually the local Chamber of Commerce.
If you are going to run the sip and paint business from your own home, you may still be required to have a license. Other legalities can include a liquor license, business insurance, zoning permits, and building inspections, to name a few.
Learn more about how to hold a sip and paint party without liability on our blog.
New Business Location
Now you have to decide on your new business location. It is a good idea to learn as much as possible about the local market in order to choose the right location for your sip business. Remember, this is going to be part of the initial investment for your sip business.
If you choose to have a sip studio, it needs to be in a location that is not too expensive, and also easy for people to access. Choosing a location is one of the more important aspects of your market research.
When you lease a location for sip events, it is important to make sure that there is enough space to host these painting classes. You also need to make sure that the space is right for you, before you get locked into a long-term lease.
Services and Pricing
Now you can start figuring out what your services and pricing will look like. A sip and paint business can be quite profitable, as long as you aren’t spending a fortune on supplies and you are charging enough per person for each of the sip classes.
Pricing will depend on the different types of sip classes you plan to offer. You might charge more for corporate paint and sip events than you would for private parties. Often, the number of guests will determine the rates.
It is a good idea to remain flexible when it comes to rates. In the paint and wine industry, rates can vary from $20 to $40 per person, or more.
Before you can set your paint and sip business rates, you need to look at all of your expenses. This will include, but is not limited to, your lease, licensing, overhead costs, sip business paint and other supplies, etc.
If you are planning on having employees, you will also need to consider wages when setting your prices. Sit down and make a list of all of your expenses, and then you can work on setting a fair price for your sip and paint classes.
Marketing Your Paint and Sip Business
Paint and sip companies need marketing just like any other businesses. We have already mentioned social media marketing and how important it is. But, your marketing strategy shouldn’t be a one-trick pony.
Sip businesses need to rely on many types of marketing. For the sip industry, newspaper advertising works well, because graphics can be used to showcase sip businesses.
Other advertising options to consider include television and radio ads, billboards, and even placing flyers at other local businesses.
To really get your paint and sip business noticed, you might even want to host a charity paint and sip fundraising event.
For more actionable tips, check our detailed guide on paint and sip marketing.
Setting Up Your Sip Business Management Team
Often, sip businesses are one-man operations. But, if you think you are going to grow into something bigger, you might want to consider having a paint and sip team.
It may be that you are a great artist, but not such a great business person. This is nothing to be ashamed of. In fact, that is why you need to hire people who can do certain jobs for you.
Ask yourself what you are truly capable of, and what you may need help with. Set realistic goals for your paint and sip business to avoid burnout, and if necessary, build a team that can help make your paint and sip business the best it can be.
Check this guide on how to recruit an experienced paint artist for more tips.
Booking Your First Paint and Sip Class
Once you have everything ready to go for your paint and sip business, it is time to book your first paint and sip class. You might want to offer discounts in the beginning, and let clients know that this is your first event.
Ask your clients to provide you with feedback after the paint and sip event. Find out what they did and didn’t like, and then adjust your next event accordingly. The more feedback you can get, the better your paint and drink business will be.
Consider a Sip Franchise
Another option is to buy into a paint and sip franchise that is already successful. You won’t have to worry as much about building a reputation because the reputation is already there.
There are several sip franchises that you can look into. The best way to learn more about sip franchises is to go online and see what is out there.
It may cost a bit more to own a sip franchise, at least in some aspects, but there will be more than enough benefits to offset the expenses. A lot of the difficult work will already be done with you, which will save a lot of time and money in the long run.
If you plan to buy an existing business, check our comprehensive list of questions to ask when buying a paint and sip business.
Conclusion
Owning your own paint and sip business is a great way to earn extra money, and have lots of fun doing it. You get to be creative, and you get to meet all kinds of new and interesting people.
One of the great things about this type of business is that you will have a lot of freedom. You don’t necessarily need to have a sip studio if you are going to various locations. You can set up your own sip business in a way that will suit your financial needs and your lifestyle.
Read our guide to learn more about how to host a paint and sip party.
See more:
- How Do I File My Taxes as a Sip and Paint Business?
- 10 Reasons to Start a Paint and Sip Business
- Paperwork and Contracts for Paint Parties
*image by Krakenimages/depositphotos
Sari Green is a semi-professional artist and professional writer. She has been hosting paint & sip parties for the past couple of years, and truly enjoys helping other people to create their very own masterpieces. She loves to create, and you never know what she’s going to come up with next!