The present document has as objective to analyze the investment of the fase one start up of a business based on special licenced industrial paint on the brazilian market. Such analysis was accomplished with the Real Options Theory based on a Monte Carlo Simulation process where the costs (uncertainty factors) are stochastic and will follow the Mean Reversion Model. Therefore, it will be able to quantify the management flexibility and how they affect the project value. Nowadays, this industrial paint market has expressive profit share in Europe and a great potential in Brazil. Those paints are anticorrosive and do not have metallic pigments or solvents. They are indicated for all industrial sectors with high chemistry and mechanic resistence application. One of the great advantages on this kind of paint is the lack of extensive time to become dry. The fase one business model is bases on an outside production and the correct formula will be obtained throught direct supervision of qualified internal employees. The bus iness model has advantages such as the reduction of the inicial investments and the development of market knowledge.