Considering A Painting Business Franchise in North Augusta?

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Painting Franchise - PaintingBusinessAcademy.com ##generated-article-tags##

Should You Buy a Painting Business Franchise in North Augusta ?

Don't Buy a Painting Business Franchise in North Augusta

• 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 North Augusta
• 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
• Top Painting News
• Franchise News Room
• News By Industry
• About
• Training Support
• Training
• Support
• Full Support Complete Control

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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 North Augusta

If you are assuming of acquiring a paint franchise, quit right now.
I'm going to break down the essential problems with getting a painting franchise business, and also the alternative options you have to start a painting company.

This is based on my experience growing a successful paint organisation where we considered coming to be a franchise but selected a partnership arrangement instead. I hear the battles of franchisee's regularly, as well as I really feel for them.



Painting Business Franchise in North Augusta 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 North Augusta 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 North Augusta ?

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

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BR> I do not want you to finish up in the exact same placement that many franchisees find themselves in.
There is a much better means! We will begin with the troubles of a franchise, then we'll enter solutions.

PROBLEM # 1: THE REAL COST OF A PAINTING FRANCHISE
CertaPro Painters, Five Star Painting, 360 Painting, and WOW-1-Day Painting are a few of the larger franchises available.
These franchises range from $10,000-$ 40,000 in franchise business costs simply for the right to the franchise business in a limited variety of zip codes where you can run your franchise business.
They also take 6-9% as an recurring aristocracy ... for life.
If you are in organisation for 10 years as well as you produce $5,000,000 in revenue, this franchise business winds up costing you upwards of $500,000. That's a high cost to pay.
And also certainly you get some support as well as organisation systems, however every little thing that a franchise offers can be gotten with various other avenues for a lot less than $500,000.

TROUBLE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you buy a Painting Business Franchise in North Augusta you are getting the rights to that company in a established territory. You are designated a handful of postal code where you have the legal rights to business.
This is a HUGE problem. The most convenient way to expand and also expand a painting business is by increasing geographically. Franchises take away this.
Painter Choice is our advertising and marketing company. We deal with franchisees all over the country. I always feel horrible for these company owner due to the fact that they have such a hard time producing organisation.
A normal company in Atlanta, as an example, can use our lead service in North Atlanta to generate 20-30 leads each month.
But a franchisee in North Atlanta that just possesses the legal rights to 7-8 postal code can only generate 5-7 leads each month from our lead service.
To put it simply, if those franchisees had their very own organisation, they can right away increase their service 3-5 times! In other terms, that indicates an increase from $500,000 to $2,000,000. This is a huge restriction on your prospective service growth.
As a franchisee, your only choice is to purchase more region, or such it up as well as maintain your service small.
Yet if somebody else already possesses the close-by territory, you don't have that option.

PROBLEMS # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees and also the franchisor have actually misaligned rewards. The franchisor intends to create as much profits as possible since they earn money a collection percent of profits.
But as business owner, your objective is to make best use of revenue.
I'm a large follower in lining up motivations, and in this instance, motivations are not straightened. They are playing a different video game than you are. They wish to make best use of income in all of their areas, as well as sell as lots of franchise business as they can.

ISSUE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're acquiring a work. Allow me reveal you why.
Due to the fact that of aristocracies, your margins finish 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't have a $1,000,000 organisation in the small region. As well as also if you can, you're stuck at a maximum of $100,000 for on your own. You're paying $70k-$ 100k/year in nobilities of what?
That's a crazy quantity of cash to pay your franchise business ... the very same firm that has an arrangement that they hold over your head not enabling you to grow your organisation geographically.
They've got you by the spheres.
Or, you can get another region to expand. Once more ... I 'd rather not have to pay for the right to expand my organisation. That's unreasonable.
A lot of franchises wind up in the $500,000-$ 600,000 array. You can possibly make $80,000-$ 110,000, sure. But you also do not ever before have sufficient margin to hire other individuals to run the entire organisation, which is just one of the best advantages to building a firm.
You possibly aren't producing sufficient profits to even hire actually solid employees. In our company, we pay about 5-6% to our production manager who manages $1,000,000 in manufacturing. That's $50,000-$ 60,000 annually for the supervisor. If you are only doing $500,000 a year in revenue, you can pay 5% ($ 25,000) to your manufacturing supervisor, which is not adequate money for a strong worker.
Your choices are to pay a higher percentage (killing your profit margin), or get the job done on your own ( eliminating your way of living). Both of which are not really appealing options.
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IN SUMMARY:
You pay a whole lot of cash to restrict your growth, you do not reach build your own point, and also if you intend to expand geographically you require to spend for the rights to do so ... assuming nobody else already has the rights to the territory you are attempting to buy.
Due to your constraints, as well as the high aristocracy charge, you are considerably restricted in your capacity to grow your income, build a solid group, as well as develop a large business.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid organisation plan
# 2-- They do it for the assistance and also training given by the franchise business
# 3-- They do it for the area of various other franchisees so they aren't alone
# 4-- They do it out of worry of failure
Now, let's check out remedies. Just how can you obtain all the advantages without paying the high rate of a franchise business?

ADVANTAGE # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the expense of a franchise business, you can purchase my organisation system. This is the specific service system we utilize as well as comply with in our business, which did over $3,000,000 in earnings in 2016.

BENEFIT # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My training course consists of training as well as support. When you obtain begun with Painting Business Academy, you obtain access to the whole company system and also all of the training that accompanies that system.

BENEFIT # 3: THEY DO IT FOR THE COMMUNITY SO THEY AREN'T ALONE
When you sign up with Painting Business Academy, you additionally join our private members-only Facebook group. We have dozens of questions asked on a daily basis from our members.
Our area is highly involved as well as energetic.
People in our community also share their successes. Just a few days ago a person shared a Facebook marketing method, verbatim, that's eliminating it for their company.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more cash does not remove the fear of failing. With Painting Business Academy, you can obtain access to a solid service plan, business training, as well as all of the done-for-you types and systems that are verified to develop a million-dollar paint organisation.
You additionally obtain access to the impressive community of like-minded business owners doing the same point as you that we discussed earlier. While you do pay 1/10th of the cost up front (on the high-end), you have NO royalties to pay after that.
The probability of failing coincides whether you remain in a franchise or running your own company. However, when you buy a franchise business, you are taking a larger risk, indicating there's a bigger failure if you do fail.

WHAT NOW?
Before you invest in a franchise and also throw countless dollars down the commode for a proven system, you might desire to look into Painting Business Academy.
Painting Business Academy is also a tested system to build a million-dollar painting business, with a area of thousands of others. Additionally, there is no ongoing nobility, and no geographical constraints to growth.
Get all of the benefits of a Painting Business Franchise in North Augusta for a fraction of the price. Examine the training course out right here and also call me if you have any type of inquiries.
The paint business is a great company to be in! I wish you'll be a component of it quickly.
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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