Training & careers

So you want to be a decorator?

Moving on up - growing your business

Return on investment

Once you have made the commitment to growing your business, the next step is to look at all the costs that would be incurred and compare these against anticipated profits. One of the most popular ways of calculating if your figures are on target is to test them using the Return on Investment (ROI) formula. This will tell you what percentage of return you will get over a specified time. Three years is a good timescale for an expanding business.

ROI is determined by taking the total investment sum, working out the increased revenue it will generate each year and the net profit from that, then calculating that as a percentage of the investment.

It's a good idea to test the ROI with a number of different sales figures as your initial predictions could be affected by a number of factors.

Further information on how to grow your business effectively is available from: www.businesslink.gov.uk, or www.bizhelp24.com.

Employing staff and apprentices

Taking on apprentices

Today's apprentices combine learning arranged by the Skills Funding Agency and the YPLA (Young People's Learning Agency) along with on-the-job learning provided by employers like you.

It's an excellent way to increase your workforce, with staff whose knowledge is bang up to date, and come with the highest levels of enthusiasm and raw talent.

Apprenticeships in the decorating business have been designed by people within the industry to give trainee decorators the grounding and skills they need for their trade. You can use apprenticeships to train your existing staff or take on somebody new. Either way you'll be investing in the future of your business.

Depending on the kind of apprenticeship that is being undertaken, there may be funding available. To find out more information and to get hold of a free employers pack visit www.apprenticeships.org.uk.

ConstructionSkills also offers apprenticeships in painting and decorating as well as grant facilities.

Jobcentre Plus

If an apprentice isn't what you're looking for, a free alternative to employment agencies is Jobcentre Plus. You can usually choose from a wide number of people seeking employment and is ideal if you need to recruit quickly. You'll also get access to the latest Government initiatives such as Flexible New Deal which may provide financial support for you to take on and train a new employee. In fact, Jobcentre Plus is a great place for all kinds of information and resources as well as staff recruitment. You can visit the website here.