Considering A Painting Business Franchise in West Columbia?

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

Should You Buy a Painting Business Franchise in West Columbia ?

Don't Buy a Painting Business Franchise in West Columbia

• 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 West Columbia
• 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 West Columbia

If you are thinking about getting a painting franchise, quit right currently.
I'm going to damage down the essential issues with acquiring a painting franchise, and the alternative choices you have to begin a painting company.

This is based upon my experience growing a effective painting service where we thought about coming to be a franchise business yet decided for a collaboration setup instead. I listen to the battles of franchisee's regularly, and also I feel for them.



Painting Business Franchise in West Columbia 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 West Columbia 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 West Columbia ?

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

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BR> I don't desire you to wind up in the very same position that many franchisees discover themselves in.
There is a far better way! We will start with the issues of a franchise business, after that we'll get involved in solutions.

TROUBLE # 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 bigger franchise business around.
These franchise business vary from $10,000-$ 40,000 in franchise business charges simply for the right to the franchise business in a restricted variety of zip codes where you can run your franchise business.
They additionally take 6-9% as an continuous nobility ... permanently.
If you are in organisation for 10 years as well as you create $5,000,000 in profits, this franchise winds up costing you upwards of $500,000. That's a high cost to pay.
As well as obviously you obtain some support as well as organisation systems, however every little thing that a franchise business supplies can be gotten via various other methods 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 West Columbia you are acquiring the rights to that business in a set region. You are assigned a handful of postal code where you have the rights to the service.
This is a HUGE problem. The most convenient means to grow and also expand a painting business is by expanding geographically. Franchises eliminate this right.
Painter Choice is our advertising and marketing company. We deal with franchisees throughout the nation. I always really feel horrible for these entrepreneur due to the fact that they have such a tough time generating service.
A typical company in Atlanta, as an example, can use our lead solution in North Atlanta to generate 20-30 leads each month.
However a franchisee in North Atlanta who only has the legal rights to 7-8 postal code can only produce 5-7 leads per month from our lead service.
To put it simply, if those franchisees had their own service, they could immediately boost their service 3-5 times! In other terms, that indicates an boost from $500,000 to $2,000,000. This is a substantial restriction on your possible organisation development.
As a franchisee, your only alternative is to buy more territory, or such it up and also maintain your business tiny.
However if another person already has the close-by region, you do not have that choice.

TROUBLES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees and also the franchisor have actually misaligned motivations. The franchisor wishes to generate as much earnings as possible since they get paid a set percent of profits.
But as the service owner, your objective is to take full advantage of revenue.
I'm a big believer in aligning incentives, as well as in this instance, motivations are not aligned. They are playing a various game than you are. They want to take full advantage of profits in all of their regions, as well as market as lots of franchise business as they can.

PROBLEM # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're acquiring a task. Allow me reveal you why.
Due to nobilities, your margins finish up being around 10% -12% besides overhead.
In order to make $100k/year you would certainly have to have a $1,000,000 company.
You can not have a $1,000,000 organisation in the small territory. And even if you can, you're stuck at a maximum of $100,000 for yourself. You're paying $70k-$ 100k/year in aristocracies for what?
That's a ridiculous amount of money to pay your franchise ... the very same business that has an contract that they hold over your head not permitting you to grow your company geographically.
They've obtained you by the rounds.
Or, you can acquire an additional territory to grow. Yet again ... I 'd rather not need to spend for the right to grow my organisation. That's ridiculous.
A lot of franchise business 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 service, which is one of the best benefits to constructing a firm.
You probably aren't producing sufficient revenue to even employ truly strong staff members. In our company, we pay regarding 5-6% to our manufacturing manager who manages $1,000,000 in manufacturing. That's $50,000-$ 60,000 each year for the supervisor. If you are only doing $500,000 a year in profits, you can pay 5% ($ 25,000) to your production manager, which is not enough money for a solid employee.
Your alternatives are to pay a higher percentage (killing your earnings margin), or get the job done yourself ( eliminating your way of living). Both of which are not really appealing choices.
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IN SUMMARY:
You pay a great deal of cash to limit your development, you don't obtain to build your own thing, and if you wish to expand geographically you need to spend for the rights to do so ... assuming no one else currently owns the civil liberties to the region you are trying to buy.
Due to your limitations, as well as the high aristocracy cost, you are dramatically restricted in your ability to expand your revenue, develop a solid group, as well as build a large service.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid business strategy
# 2-- They do it for the support and also training offered by the franchise business
# 3-- They do it for the area of other franchisees so they aren't alone
# 4-- They do it out of fear of failing
Now, allow's look at options. Exactly how can you get all the benefits 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, you can buy my business system. This is the precise business system we make use of as well as adhere to in our business, which corrected $3,000,000 in profits in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My program consists of training as well as assistance. When you get begun with Painting Business Academy, you obtain access to the whole business system as well as all of the training that supports 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 team. We have dozens of questions asked every day from our participants.
Our neighborhood is extremely engaged and also active.
Individuals in our area even share their successes. Simply a few days ago someone shared a Facebook advertising and marketing technique, verbatim, that's eliminating it for their service.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more cash does not get rid of the concern of failure. With Painting Business Academy, you can obtain access to a strong business plan, service training, as well as all of the done-for-you kinds as well as systems that are proven to build a million-dollar paint service.
You also get accessibility to the impressive community of like-minded entrepreneurs doing the very same point as you that we spoke about previously. While you do pay 1/10th of the price up front (on the high-end), you have NO nobilities to pay after that.
The likelihood of failure is the exact same whether you are in a franchise business or running your own business. When you buy a franchise, you are taking a bigger threat, meaning there's a bigger failing if you do fail.

SO WHAT NOW?
Before you purchase a franchise and toss countless bucks down the bathroom for a tested system, you may desire to take a look at Painting Business Academy.
Painting Business Academy is also a tried and tested system to develop a million-dollar paint firm, with a area of numerous others. Additionally, there is no ongoing royalty, and no geographical constraints to growth.
Get all of the benefits of a Painting Business Franchise in West Columbia for a portion of the rate. Examine the course out right here and contact me if you have any inquiries.
The painting business is a great business to be in! I wish you'll belong of it soon.
Excellent 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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