{"id":634530,"date":"2026-04-27T17:51:17","date_gmt":"2026-04-27T17:51:17","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/634530\/"},"modified":"2026-04-27T17:51:17","modified_gmt":"2026-04-27T17:51:17","slug":"my-20m-paint-business-is-a-wall-to-wall-success","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/634530\/","title":{"rendered":"My \u00a320m paint business is a wall-to-wall success"},"content":{"rendered":"<p>To get his paint brand off the ground during the pandemic, Rob Abrahams spent his weekends hand-making samples on stickers laid out across fold-up tables and blowing hot air over them with hairdryers. \u201cNo one could do that for us, so we did it ourselves,\u201d said Abrahams, 37.<\/p>\n<p>Coat Paints sells premium paint online and competes with the likes of Farrow &amp; Ball. Abrahams launched the business in 2020 with his friend Rob Green and five years on, they employ 43 people. Their colours are on the walls of tens of thousands of homes, largely in London. <\/p>\n<p>Last year they sold \u00a312.9 million worth of made-to-order paint pots at about \u00a332 a litre, generating a profit \u2014 measured as earnings before interest, tax, depreciation and amortisation (ebitda) \u2014 of \u00a3378,000. This year revenues are expected to hit \u00a320 million, with expanding profits.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\"   height=\"4480\" width=\"6720\" src=\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/04\/8103748a-9a9a-4dc4-80fa-20785f9695b4.jpg\" alt=\"A person in green clothing holding several white paint cans labeled &quot;COAT&quot;.\" class=\"wp-image-21761516\"\/>Coat\u2019s colours feature quirky names such as Duvet Day and The Coal DropCOAT Paints<\/p>\n<p>Coal dust rather than paint is in Abrahams\u2019 blood. He grew up in Mansfield in Nottinghamshire, where his father\u2019s side of the family had historically been miners. His mother was a midwife and he has three younger sisters. <\/p>\n<p>At his local state secondary he was \u201cthe clever one at quite a rough school\u201d, and when he wanted to do A-level French, the school agreed to run a bespoke solo class just for him. Then came a business degree at Leeds University from 2006 to 2010, before Abrahams secured a place on a graduate scheme at BMW.<\/p>\n<p>It was there he met Green, sparking a lifelong friendship. While Green moved into product-based roles at 3M, the adhesives to electronics group, and the paints and coatings company Sherwin-Williams, owner of Valspar and Ronseal, Abrahams stayed with BMW until 2015. <\/p>\n<p>He then joined <a href=\"https:\/\/www.thetimes.com\/business\/companies-markets\/article\/carwow-valued-at-250m-as-it-raises-funds-from-us-investor-bdz6hvv39\" rel=\"nofollow noopener\" target=\"_blank\">Carwow<\/a>, the online vehicle marketplace, after it had a run-in with BMW. \u201cI thought, \u2018Someone doesn\u2019t like what [Carwow] is doing, which means it\u2019s interesting.\u2019 So I reached out to the founder,\u201d Abrahams recalled. He was given a job with no title and a \u201cblank sheet of paper\u201d to work on product expansion. <\/p>\n<p>Joining when the team stood at just 20 people, he watched it scale up to more than 400, gaining a first-hand insight into venture capital and business modelling. It convinced him that founding a company was a viable career path. <\/p>\n<p>Abrahams\u2019 first attempt at entrepreneurship came in 2018 with Off Paper, which aimed to replace traditional CVs with psychometric-based personality assessments. The venture did not work out, in part due to his lack of experience in the recruitment industry. He was a \u201clittle bit naive\u201d, he admitted.<\/p>\n<p>Looking for his next project, he started talking to Green about starting a paint company \u2014 an idea planted by the stories of a friend who had gained some experience in the industry. The pair ran with that idea and visited a paint factory in Wales in early 2020. Later, in Green\u2019s father\u2019s office, they drew a line down the middle of a whiteboard, writing which parts of the business they wanted to focus on. Abrahams took on brand, marketing and sales; Green opted for operations and product development.<\/p>\n<p>\u201cI like all that stuff and he hates all that stuff, and vice versa,\u201d Abrahams said. \u201cThat was the deciding moment when we knew we could [do it].\u201d With no family wealth to lean on, the pair raised \u00a3150,000 from 23 friends and family members, and <a href=\"https:\/\/www.thetimes.com\/sunday-times-100-fast-growth\/company-profile\/article\/2025-uk-coat-paints-0tjd656nw\" rel=\"nofollow noopener\" target=\"_blank\">Coat Paints<\/a> was born. <\/p>\n<p>The firm has its paint base made in the UK before it is taken to Coat\u2019s facility in north London, where pigment is added. Abrahams admitted that \u201call paint, within reason, is made of the same ingredients\u201d, largely water with some pigment and resin. As a brand, Coat needed to stand out in other ways.\u00a0<\/p>\n<p>\u201cInternally, we say we don\u2019t sell paint,\u201d Abrahams said. \u201cPeople don\u2019t sit there wanting to hear about water and pigment; they want the room they\u2019ve seen on Instagram.\u201d<\/p>\n<p><img loading=\"lazy\" decoding=\"async\"   height=\"2527\" width=\"3110\" src=\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/04\/40a921ec-1384-4bcb-8cfb-2523f4bda582.jpg\" alt=\"Millie Mackintosh sitting on a chair in a room undergoing renovation, with paint color swatches and design photos on a board behind her.\" class=\"wp-image-21761667\"\/>The Made in Chelsea star Millie Mackintosh has collaborated with the companyCOAT Paints<\/p>\n<p>Coat\u2019s entire range is water-based, solvent-free and made to order, so there is less waste. From an initial 30 colours, the range has grown to 119, bolstered by collaborations with influencers such as the TV presenters <a href=\"https:\/\/www.thetimes.com\/world\/russia-ukraine-war\/article\/stacey-dooley-ready-for-war-review-ukrainians-sheer-courage-shows-how-they-wrong-footed-putin-nl28b8pch\" rel=\"nofollow noopener\" target=\"_blank\">Stacey Dooley<\/a> and Laura Jackson, as well as Made in Chelsea star Millie Mackintosh. Recent projects include fitting out the Margate House hotel in Kent.<\/p>\n<p>The brand\u2019s offerings include \u201cDuvet Day\u201d (a sandy beige) and \u201cSmith &amp; the Devil\u201d (an earthy red). Abrahams remains his own best guinea pig; his box room has been repainted 15 times in five years. He has \u201cThe Coal Drop\u201d, a charcoal grey, in his hall, while his daughter\u2019s room is a mix of grey-green \u201cYard Party\u2019 and \u201cCheap Souffl\u00e9\u201d, a creamy yellow.\u00a0<\/p>\n<p>Coat Paints has also focused on service to help customers pick the right colour. It employs \u201ccolour experts\u201d \u2014 specifically trained in undertones, overtones and colour scales \u2014 who guide homeowners through their decisions, while an AI-powered visualiser produces room previews.<\/p>\n<p>After a successful first year, the company attracted venture capital funding, raising \u00a31 million from Pembroke VCT and True Capital. It has since raised another \u00a36 million, leaving Abrahams and Green with about 40 per cent of the shares, Pembroke another 40 per cent and other investors the rest. The duo have no plans for a further fundraising.<\/p>\n<p>Enterprise newsletter<\/p>\n<p>Advice and inspiration for entrepreneurs in The Times Enterprise Network\u2019s briefing.<\/p>\n<p>\t\t\t\t\tSign up with one click<\/p>\n<p>The journey has not been without friction. In 2022, feeling pressure to demonstrate rapid scale to investors, Coat expanded into Europe with a manufacturing hub in Belgium. The project was shuttered within months. \u201cIt was wildly loss-making,\u201d Abrahams admitted. \u201cShipping was expensive, labour was crazy \u2026 things we didn\u2019t really know or think about.\u201d<\/p>\n<p>This misstep reinforced their initial focus. While Abrahams still enjoys \u201cside quests\u201d to keep the brand from becoming staid, he is committed to dominating the UK premium market. Guided by chairman Tony Stockil, Abrahams is aiming for \u00a3120 million in revenue within five years.<\/p>\n<p>Stockil previously held the same role for recipe delivery firm Mindful Chef, which successfully sold itself to food and drink giant Nestl\u00e9 in 2020.\u00a0An exit at some point in the future might also be on the cards for Coat Paints \u2014 but for now Abrahams said he is absolutely \u201cloving it\u201d.\u00a0<\/p>\n<p>\t\t\t\tAsk me anything\t\t\t<\/p>\n<p>The best way to start the day \u2026 Naturally, and unhurriedly, with enough headspace to plan. Frantic starts never make productive days for me.<\/p>\n<p>The best advice I was given \u2026 \u201cMean something to someone, or nothing to everyone.\u201d You don\u2019t need to please everyone.<\/p>\n<p>My best decision \u2026 Keeping key business functions, like performance marketing, in-house. Building those skills internally compounds over time.<\/p>\n<p>My worst decision \u2026 Overspending on above-the-line brand marketing too early.<\/p>\n<p>Best business tip \u2026 Do less, but do it better.<\/p>\n","protected":false},"excerpt":{"rendered":"To get his paint brand off the ground during the pandemic, Rob Abrahams spent his weekends hand-making samples&hellip;\n","protected":false},"author":2,"featured_media":634531,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[64,63,99,198],"class_list":{"0":"post-634530","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-entrepreneurship","8":"tag-au","9":"tag-australia","10":"tag-business","11":"tag-entrepreneurship"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/634530","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=634530"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/634530\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/634531"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=634530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=634530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=634530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}