Considering A Painting Business Franchise in Dillon?

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Should You Buy a Painting Business Franchise in Dillon ?

Don't Buy a Painting Business Franchise in Dillon

• An Important Note About Our Methodology
• Learn About Our Process
• Our Story
• Why Franchise
• The Process
• Your Investment
• Problem 1 The REAL Cost of a Painting Business Franchise in Dillon
• Problem 2 How Franchises Screw Your Ability to Grow Your Business
• Problems 3 Do They Really Care About What You Care About
• Problem 4 You re Buying a Job Not a Business
• With All These Problems Why do People do It
• So what now
• Understanding the Ranking
• Our Purpose
• Opportunity Guide
• Home Services Franchise Industry
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• About
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• Learn How a $1,000,000 Painting Business Works
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• The franchise fee for a territory with a population of between 175,000 and 200,000 is $44,900. If the population of your territory exceeds 200,000, you must pay an additional $500 for each 1,000-population unit (or any portion of a 1,000-population unit) in excess of 200,000.

• For example, for a territory with a population of 201,135, the total franchise fee would be $45,900 .

• The initial franchise fee is fully earned and non-refundable upon receipt.

• During the first 24 months after you purchase your first franchise, you may be eligible for a 10% discount on the then-current initial franchise fee for each additional franchise that you purchase. To be eligible for this discount, you must pay the entire franchise fee at the time you sign the Franchise Agreement for the initial franchise and for each additional franchise.

• Fresh Coat is a member of the International Franchise Association and participates in the IFA’s Veterans Transition Franchise Initiative (“VetFran Program”), which encourages franchise ownership by offering financial incentives to honorably discharged veterans of the U.S. Armed Forces. Fresh Coat offers a $2,000 discount on the initial franchise fee to veterans who meet Fresh Coat’s requirements and those of the VetFran program.

2.  Deposit:  $5,000

• You can reserve a specific territory for up to 30 days by paying a $5,000 deposit and sending Fresh Coat a signed Deposit Remittance Form. The deposit is fully earned and non-refundable upon Fresh Coat’s receipt, in consideration of its reservation and removal from the market of your territory for 30 days, and will be applied toward your initial franchise fee.

3.  Website Fee:  $95

• You must pay an initial Website Fee of $95 to cover the cost and maintenance of website(s) you will use in the operation of the business.

4.  Right of First Refusal:  $3,000

• Your Franchise Agreement does not give you any option, right of first refusal, or similar right to acquire additional franchises, but you may purchase a right of first refusal to purchase an additional franchise territory. The price for a right of first refusal is $3,000, which would be credited toward the initial franchise fee if you exercise the right of first refusal.

• A right of first refusal would give you the right to purchase a specific territory first if another prospective purchaser shows an interest in purchasing the territory within 1 year after you purchase the right of first refusal.

• You would have 7 calendar days after notice by Fresh Coat to exercise the right. Fresh Coat must receive the entire balance of the then-current initial franchise fee for the territory by the seventh day after you receive the notice.

• A right of first refusal lasts for 1 year.

5.  Royalty Fee:  6% of Gross Revenues; $300 monthly minimum

• Due Date:  Payable by the fifth day of each month.

• Paid on Gross Revenues for preceding month ending on Friday.

6.  National Branding Fund:  2% of Gross Revenues; $350 monthly minimum

• Due Date:  Payable by the fifth day of each month.

7.  Local Cooperative Advertising:  up to 3% of your Gross Revenues unless a majority of the cooperative members agree on a higher contribution

• Due Date:  Monthly.

• If an advertising cooperative is established or operating in your area, you must contribute.

8.  Transfer Fee:  the greater of either $10,000 or 3% of the purchase price, plus legal and administrative costs

• Due Date:  Prior to consummation of transfer.

• Payable when you sell your franchise; no Transfer Fee is payable for transfers to a company you form for the convenience of ownership.

9.  Lead Referral Fee:  $10,000

• Due Date:  Upon a transfer of your franchise to a buyer who was already listed in Fresh Coat’s sales database at the time you and the buyer began discussing a sale.

• Intended to partially reimburse Fresh Coat for its costs in developing leads who then purchase from existing owners.

10.  Formation of Business Entity:  variable

• Due Date:  Within 90 days after signing the Franchise Agreement.

• If you sign the Franchise Agreement individually, then you must form a business entity (such as a corporation) and assign your individual rights in the franchise to the business entity.

11.  Grand Opening Promotion:  $3,000 to $4,000

• Due Date:  1-2 months before opening.

• Before opening, you must spend at least $3,000, as directed by Fresh Coat, on a grand opening promotion.

12.  Electronic Copies of Marketing Materials:  variable

• Due Date:  Upon order by you.

• Should you request electronic copies of marketing materials, you will need to reimburse the national branding fund for its costs in creating the materials.

13.  Technology/Software License Fee:  $95

• Due Date:  Monthly.

• You must pay a fee for technology/proprietary software that Fresh Coat licenses or makes available to you for use in the operation of the business.

14.  Website Fee:  $95

• Due Date:  Monthly.

• You must pay a fee to cover the cost and maintenance of website(s) and web hosting services Fresh Coat makes available for your use in the business.

15.  Franchisee Meetings:  $350 per person

• Due Date:  Prior to attending meeting.

• Fresh Coat may hold regional and/or national meetings with its support personnel and franchisees.

16.  Late Fee:  greater of $100 or 10% of royalty or branding fee; $50 for ACH payments returned for insufficient funds; $100 for late sales reports or other business records

• Due Date:  On demand.

• You must pay a late fee on any payment or sales report that Fresh Coat receives more than 5 days late.

17.  Interest:  18%

• Due Date:  On demand.

• In addition to the late fee above, any payments more than 30 days late accrue interest at the rate of 18% per year.

18.  Audit Fee:  cost of audit, plus 18% interest on underpayment

• Due Date:  On demand.

• Payable only if audit is prompted by your failure to maintain or submit records or audit shows an understatement of Gross Revenues of at least 3% for any week.

19.  Territory Amendment Fee:  $1,500

• Due Date:  Prior to amending territory.

• If Fresh Coat allows you to amend your franchise territory, you must pay a fee to compensate it for its costs.

20.  Sales/Use Taxes:  variable

• Due Date:  Payable with your royalty or national branding fee payments.

• You must pay any state or local sales or use tax that may be assessed on the royalties, advertising fees, or other fees you pay to Fresh Coat.

21.  Reimbursements:  amount of expense advanced, plus 18% interest

• Due Date:  On demand.

• You must reimburse Fresh Coat if it pays your expenses if you fail to so do, such as rent, taxes, customer refunds, or other liabilities.

22.  Legal Expenses:  amount of expense advanced, plus 18% interest

• Due Date:  On demand.

• You must pay any legal expenses Fresh Coat incurs, including attorney fees, to enforce your Franchise Agreement.

23.  Mapping Software Updates:  $200

• Due Date:  On demand.

• Fresh Coat may, from time-to-time, need to update its internal map-keeping software to reflect demographic and population changes in your territory; if Fresh Coat does so, it may charge you a reasonable fee, not to exceed $200, to compensate it for its costs.

24.  Indemnification:  amount of expense advanced, plus 18% interest

• Due Date:  On demand.

• You must reimburse Fresh Coat fully if it is held liable for claims arising from your business.

WHY YOU OUGHT TO NOT BUY A Painting Business Franchise in Dillon

If you are thinking of purchasing a paint franchise business, stop now.
I'm going to break down the fundamental issues with purchasing a painting franchise, and also the alternate options you need to begin a paint firm.

This is based upon my experience expanding a effective painting business where we took into consideration coming to be a franchise business but decided for a collaboration arrangement instead. I hear the battles of franchisee's regularly, and I feel for them.



Painting Business Franchise in Dillon FAQs
How much does it cost to open your own franchise?

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Are painting companies profitable?

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How much is a Five Star Painting Franchise?

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Is painting a good business to start?

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How much do painters make?

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How much money can you make owning a painting business?

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How can I start a painting business with no money?

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Is painting a good trade?

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Is a Painting Business Franchise in Dillon a good investment?

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Is it hard to start a painting business?

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How can I promote my painting business?

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How do I market my painting business?

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What are the disadvantages of a Painting Business Franchise in Dillon ?

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Is it better to start a painting business or buy a Painting Business Franchise in Dillon ?

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BR> I don't desire you to end up in the very same placement that many franchisees find themselves in.
There is a much better way! We will begin with the issues of a franchise, then we'll get into options.

ISSUE # 1: THE REAL COST OF A PAINTING FRANCHISE
CertaPro Painters, Five Star Painting, 360 Painting, as well as WOW-1-Day Painting are a few of the bigger franchises available.
These franchise business range from $10,000-$ 40,000 in franchise business costs just for the right to the franchise in a minimal number of zip codes where you can operate your franchise business.
They additionally take 6-9% as an continuous royalty ... for life.
If you stay in business for 10 years as well as you generate $5,000,000 in profits, this franchise finishes up costing you upwards of $500,000. That's a steep cost to pay.
And also certainly you get some support and also service systems, yet everything that a franchise business gives can be obtained with other avenues for much less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you get a Painting Business Franchise in Dillon you are acquiring the rights to that business in a established region. You are assigned a small number of postal code where you have the civil liberties to the service.
This is a HUGE issue. The simplest method to grow and also expand a painting business is by broadening geographically. Franchise business take away this.
Painter Choice is our advertising business. We deal with franchisees throughout the nation. I always really feel terrible for these company owner due to the fact that they have such a difficult time producing organisation.
A typical firm in Atlanta, for example, can utilize our lead solution in North Atlanta to create 20-30 leads each month.
Yet a franchisee in North Atlanta that just possesses the civil liberties to 7-8 zip codes can just generate 5-7 leads each month from our lead solution.
In various other words, if those franchisees had their very own organisation, they can promptly increase their organisation 3-5 times! In other terms, that means an boost from $500,000 to $2,000,000. This is a enormous restriction on your potential service growth.
As a franchisee, your only choice is to buy even more territory, or such it up and maintain your organisation little.
If someone else currently has the neighboring territory, you don't have that alternative.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Fundamentally, franchisees and the franchisor have actually misaligned rewards. The franchisor wishes to create as much profits as feasible because they make money a set percent of income.
But as the organisation owner, your objective is to maximize earnings.
I'm a large believer in lining up incentives, and in this instance, motivations are not lined up. They are playing a different video game than you are. They intend to make best use of profits in all of their areas, as well as offer as several franchises as they can.

TROUBLE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're purchasing a work. Let me show you why.
Due to royalties, your margins wind up being around 10% -12% after all overhead.
In order to make $100k/year you 'd need to have a $1,000,000 business.
You can not have a $1,000,000 organisation in the small territory. And also also if you can, you're stuck at a optimum of $100,000 for yourself. You're paying $70k-$ 100k/year in royalties for what?
That's a ludicrous quantity of cash to pay your franchise ... the very same firm that has an agreement that they hold over your head not allowing you to expand your company geographically.
They've got you by the spheres.
Or, you can buy one more territory to expand. But again ... I 'd rather not need to pay for the right to expand my organisation. That's ridiculous.
The majority of franchises end up in the $500,000-$ 600,000 variety. You can possibly make $80,000-$ 110,000, sure. However you likewise don't ever have sufficient margin to hire other individuals to run the entire business, which is among the biggest advantages to constructing a company.
You possibly aren't creating sufficient earnings to also work with actually solid workers. In our business, we pay regarding 5-6% to our manufacturing supervisor that manages $1,000,000 in manufacturing. That's $50,000-$ 60,000 each year for the manager. But if you are only doing $500,000 a year in profits, you can pay 5% ($ 25,000) to your production supervisor, which is insufficient money for a strong worker.
Your choices are to pay a greater percent ( eliminating your revenue margin), or get the job done yourself (killing your lifestyle). Both of which are not extremely appealing choices.
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IN SUMMARY:
You pay a great deal of cash to limit your growth, you do not obtain to develop your own point, as well as if you wish to expand geographically you need to spend for the legal rights to do so ... thinking no one else currently owns the rights to the region you are attempting to get.
As a result of your constraints, as well as the high royalty fee, you are significantly limited in your capability to expand your profits, build a solid team, and build a huge company.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid business plan
# 2-- They do it for the support and training given by the franchise business
# 3-- They do it for the neighborhood of other franchisees so they aren't alone
# 4-- They do it out of fear of failure
Now, allow's check out services. How can you obtain all the advantages without paying the high cost of a franchise business?

BENEFIT # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the cost of a franchise business, you can purchase my service system. This is the specific business system we use and also comply with in our service, which did over $3,000,000 in revenue in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My course includes training as well as assistance. When you start with Painting Business Academy, you get accessibility to the whole business system and also all of the training that goes along with that system.

ADVANTAGE # 3: THEY DO IT FOR THE COMMUNITY SO THEY AREN'T ALONE
When you sign up with Painting Business Academy, you likewise join our exclusive members-only Facebook group. We have loads of inquiries asked everyday from our members.
Our community is highly involved as well as energetic.
Individuals in our community also share their successes. Simply a few days ago somebody shared a Facebook advertising technique, word for word, that's eliminating it for their organisation.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more money does not eliminate the concern of failing. With Painting Business Academy, you can obtain accessibility to a strong organisation plan, company training, and all of the done-for-you types and systems that are confirmed to construct a million-dollar paint business.
You additionally get access to the impressive community of similar entrepreneurs doing the same thing as you that we spoke about earlier. While you do pay 1/10th of the cost up front (on the high end), you have NO aristocracies to pay afterwards.
The chance of failure coincides whether you remain in a franchise business or running your very own company. When you acquire a franchise, you are taking a larger danger, indicating there's a bigger failing if you do fall short.

SO WHAT NOW?
Prior to you invest in a franchise business as well as throw countless bucks down the commode for a proven system, you might intend to look into Painting Business Academy.
Painting Business Academy is additionally a tested system to construct a million-dollar painting firm, with a community of thousands of others. On top of that, there is no recurring aristocracy, as well as no geographical constraints to development.
Get every one of the benefits of a Painting Business Franchise in Dillon for a portion of the cost. Check the course out below and also call me if you have any type of inquiries.
The paint business is a wonderful business to be in! I wish you'll belong of it soon.
Best of luck!

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You don't necessarily need a college degree, a bunch of money in the bank or even painting business experience to start something that could become the next major success. However, you do need a strong plan and the drive to see it through.
If you're here, odds are you already have the drive, but you might not know how to start building your painting empire.
That why we are here.
1. Evaluate yourself.
Let's start with the most basic question: Why do you want to start a painting business? Use this question to guide what kind of painting business you want to start. If you want extra money, maybe you should start a side hustle. If you want more freedom, maybe it's time to leave your 9-to-5 job and start something new.
Once you have the reason, start asking yourself even more questions to help you figure out the type of painting business you should start, and if you have what it takes.
What skills do you have?
Where does your passion lie?
Where is your area of expertise?
How much can you afford to spend, knowing that many painting businesses fail?
How much capital do you need?
What sort of lifestyle do you want to live?
Are you even ready to be an entrepreneur?
Be brutally honest with your answers. This will create a foundation for everything you do moving forward, so it's better to know the truth now than later.

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