Published by Michael E. Porter of Harvard University in 1979, these five forces have proven to be a great way to analyse the attractiveness of an industry.

In a podcast for The Painting and Decorating Show on Fix Radio with Joel Bardall, Mears analysed each of the five forces and what it means for the decorating industry.

The five forces are:

1. Competition in the Industry
2. Potential of New Entrants into the Industry
3. Power of Suppliers
4. Power of Customers
5. Threat of Substitute Products

Mears said there are two main competitors for decorators in the industry. “Other decorators and DIYers. Dulux Academy recently found that the average age of a decorator in the UK is 50, and that 66% of UK decorators will retire in the next 10 years,” he said. “In terms of the DIY market, we live in an ageing society. More and more people are physically incapable of doing their own decorating. And the younger generations are proving to be less willing to even try. This means the market is growing and the competition is shrinking. A great start!”

On the potential of new entrants into the industry, Mears asked: “What are the barriers to entry for becoming a painter and decorator in the UK? Some would say not much. You can pick up some brushes from a local shop and start advertising your services on social media for virtually nothing.”

However, he said while that's true, there is a new breed of decorators emerging. “These are decorators who spray and use dustless sanders. These decorators have thousands of pounds worth of equipment. So, whilst the barrier to entry of the decorating market might be quite low, you can separate yourself from new companies by investing in your skills and equipment,” he advised.

According to Mears, if there were only a few places to buy paint and sundries, then those suppliers could easily increase their prices and reduce the profit margins available to decorators and painters. “Fortunately, we are in a mature market full of suppliers. This means prices stay competitive and quality remains high to the benefit of decorators and painters,” he said. “On the other hand, as I’ve already mentioned, the number of decorators in the UK is decreasing and the market size is growing. This means your average customer won’t have the power they once did. Although there are no real barriers for someone to switch from one decorator to another, there is a shortage of supply. What this means in terms of  the law if supply and demand is that more power is given to the decorators and painters.”

He pointed out that on the threat of substitute products, decorators in the UK can be assured that at the moment, this threat doesn’t have much of an impact on the decorating industry as a whole. “There are currently no real substitutes to decorating your home. That being the case, it is vital to note that if you only offer painting services and wallpaper becomes wildly popular in the market, you might see a dip in demand for those painting services. But in general, there are no substitute products or services when it comes to decorating a home,” he said.

Mears urged painters and decorators across the country to continue investing in themselves with skills development and most importantly in the business by acquiring modern kit like spraying machines, dustless sanding and doing some marketing. “I firmly believe that in 10 years’ time decorators could be earning so much money they won’t know what to do with themselves,” he said.