I bought these supplies and followed the directions. 3 coats for magnetic primer, 3 coats of chalkboard paint rolled on with a sponge roller.
I measured and taped off the wall for the paint, making sure I left room for the molding. The molding is lightweight foam molding. Jeff miter cut the corners for me (with a cheap hand saw/miter box kit) and I painted them up and then put a bead of glue made for foam molding and stuck them on the wall…yes, the sticking part was nerve-wracking but it worked out PERFECTLY! I put a tiny bit of caulk where the 4 edges met, and then touched that up with paint.
The paint color of the trim is Eddie Bauer Valspar EB8-1 Island Blue. Since I just needed a little I bought a cute little sample container for $2.99 and used that.
I (and the kids) LOVE it by the way! Yes, there is a little chalk dust that accumulates on the molding and floor, but since it’s in the kitchen it's easy to wipe down. The magnetic-ness is not very strong…two magnets will hold a light piece of paper or small photo. The chalkboard erases fine with an eraser, but nice and clean with a damp washcloth.