Considering A Painting Business Franchise in Rock Hill?

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

Should You Buy a Painting Business Franchise in Rock Hill ?

Don't Buy a Painting Business Franchise in Rock Hill

• 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 Rock Hill
• 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 Rock Hill

If you are considering purchasing a paint franchise, stop now.
I'm going to break down the essential problems with purchasing a paint franchise business, as well as the alternative options you need to start a painting company.

This is based upon my experience growing a successful painting business where we thought about becoming a franchise business however opted for a partnership arrangement rather. I listen to the battles of franchisee's constantly, and also I feel for them.



Painting Business Franchise in Rock Hill 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 Rock Hill 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 Rock Hill ?

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

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BR> I don't desire you to end up in the same setting that many franchisees locate themselves in.
There is a much better method! We will start with the problems of a franchise, after that we'll get right into services.

TROUBLE # 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 out there.
These franchises vary from $10,000-$ 40,000 in franchise business charges just for the right to the franchise business in a limited variety of zip codes where you can run your franchise.
They additionally take 6-9% as an ongoing nobility ... forever.
If you are in business for 10 years and you create $5,000,000 in income, this franchise business ends up costing you upwards of $500,000. That's a steep price to pay.
And obviously you obtain some support as well as organisation systems, however every little thing that a franchise business supplies can be gotten with other avenues for a lot less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you acquire a Painting Business Franchise in Rock Hill you are getting the legal rights to that organisation in a set region. You are assigned a handful of zip codes where you have the civil liberties to the company.
This is a HUGE trouble. The easiest method to grow and also increase a paint business is by increasing geographically. Franchises take away this.
Painter Choice is our advertising company. We work with franchisees throughout the nation. I constantly really feel horrible for these business owners because they have such a hard time producing service.
A common firm in Atlanta, for instance, can use our lead solution in North Atlanta to produce 20-30 leads monthly.
But a franchisee in North Atlanta who just has the rights to 7-8 zip codes can only produce 5-7 leads each month from our lead solution.
Simply put, if those franchisees had their own business, they could instantly boost their organisation 3-5 times! In various other terms, that means an increase from $500,000 to $2,000,000. This is a enormous limitation on your prospective service development.
As a franchisee, your only option is to acquire even more territory, or such it up and also maintain your business tiny.
However if somebody else already possesses the nearby region, you don't have that choice.

TROUBLES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees and also the franchisor have actually misaligned incentives. The franchisor desires to produce as much revenue as feasible because they obtain paid a set percent of revenue.
As the business proprietor, your goal is to make best use of revenue.
I'm a large believer in straightening incentives, and also in this case, rewards are not lined up. They are playing a different game than you are. They intend to take full advantage of revenue in all of their areas, as well as offer as many franchises as they can.

TROUBLE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're purchasing a job. Let me show you why.
As a result of royalties, your margins finish up being around 10% -12% nevertheless business expenditures.
In order to make $100k/year you would certainly have to have a $1,000,000 service.
You can't have a $1,000,000 organisation in the tiny area. And also also if you can, you're stuck at a optimum of $100,000 on your own. You're paying $70k-$ 100k/year in aristocracies for what?
That's a ridiculous quantity of money to pay your franchise ... the same company that has an contract that they hold over your head not enabling you to expand your business geographically.
They've obtained you by the rounds.
Or, you can get another territory to grow. Once again ... I 'd instead not have to pay for the right to expand my service. That's ridiculous.
A lot of franchise business wind up in the $500,000-$ 600,000 variety. You can possibly make $80,000-$ 110,000, sure. Yet you additionally do not ever have adequate margin to hire other people to run the entire organisation, which is among the best advantages to building a business.
You possibly aren't creating adequate revenue to even work with actually strong workers. In our firm, we pay regarding 5-6% to our production supervisor that oversees $1,000,000 in production. That's $50,000-$ 60,000 each year for the manager. Yet if you are only doing $500,000 a year in earnings, you can pay 5% ($ 25,000) to your production manager, which is inadequate cash for a solid staff member.
Your options are to pay a greater percent ( eliminating your profit margin), or get the job done on your own (killing your way of living). Both of which are not very eye-catching alternatives.
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IN SUMMARY:
You pay a great deal of money to restrict your growth, you do not reach construct your own thing, and if you wish to grow geographically you need to pay for the legal rights to do so ... thinking no one else already owns the civil liberties to the region you are attempting to get.
As a result of your restrictions, as well as the high nobility charge, you are substantially limited in your capability to grow your revenue, build a solid group, and also build a big service.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid organisation strategy
# 2-- They do it for the support and also training given by the franchise
# 3-- They do it for the neighborhood of other franchisees so they aren't alone
# 4-- They do it out of fear of failing
Currently, let's check out remedies. Just how can you obtain all the advantages without paying the steep rate of a franchise business?

BENEFIT # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the price of a franchise, you can buy my company system. This is the exact service system we utilize and comply with in our company, which corrected $3,000,000 in profits in 2016.

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

BENEFIT # 3: THEY DO IT FOR THE COMMUNITY SO THEY AREN'T ALONE
When you join Painting Business Academy, you additionally join our private members-only Facebook team. We have lots of inquiries asked every day from our participants.
Our community is extremely engaged as well as active.
Individuals in our area also share their successes. Just a few days ago a person shared a Facebook advertising and marketing approach, word for word, that's killing it for their organisation.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more money does not remove the fear of failing. With Painting Business Academy, you can get accessibility to a solid business plan, organisation training, and all of the done-for-you types and systems that are verified to construct a million-dollar paint business.
You additionally obtain access to the incredible neighborhood of similar entrepreneurs doing the same thing as you that we discussed previously. While you do pay 1/10th of the price up front (on the high end), you have NO aristocracies to pay after that.
The likelihood of failing is the very same whether you are in a franchise business or running your own business. When you get a franchise, you are taking a bigger danger, suggesting there's a larger failing if you do fail.

WHAT NOW?
Before you purchase a franchise business and throw hundreds of bucks down the bathroom for a tried and tested system, you could want to check out Painting Business Academy.
Painting Business Academy is also a tested system to build a million-dollar painting company, with a area of thousands of others. Furthermore, there is no continuous royalty, and no geographical limitations to development.
Obtain all of the advantages of a Painting Business Franchise in Rock Hill for a portion of the price. Check the program out below as well as call me if you have any type of inquiries.
The painting business is a terrific company to be in! I wish you'll belong of it soon.
Good good 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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