Considering A Painting Franchise in Aiken?

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

Should You Buy a Painting Franchise in Aiken ?

Don't Buy a Painting Franchise in Aiken

• 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 Franchise in Aiken
• 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 Franchise in Aiken

If you are thinking about buying a painting franchise, quit right now.
I'm going to break down the basic troubles with getting a paint franchise business, and also the alternative options you have to begin a painting firm.

This is based on my experience growing a effective paint business where we considered ending up being a franchise business yet went with a collaboration configuration rather. I listen to the battles of franchisee's constantly, and I really feel for them.



Painting Franchise in Aiken 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 Franchise in Aiken 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 Franchise in Aiken ?

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

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BR> I do not want you to wind up in the very same position that numerous franchisees locate themselves in.
There is a much better means! We will certainly start with the issues of a franchise business, after that we'll get involved in solutions.

PROBLEM # 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 larger franchise business around.
These franchise business range from $10,000-$ 40,000 in franchise costs just for the right to the franchise business in a restricted number of postal code where you can operate your franchise.
They additionally take 6-9% as an continuous royalty ... forever.
If you stay in business for 10 years as well as you produce $5,000,000 in income, this franchise ends up costing you upwards of $500,000. That's a high rate to pay.
And naturally you obtain some support as well as company systems, however everything that a franchise gives can be obtained via various other methods for much less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you buy a Painting Franchise in Aiken you are buying the legal rights to that business in a set area. You are designated a tiny number of postal code where you have the legal rights to business.
This is a HUGE issue. The simplest means to grow and also broaden a paint business is by increasing geographically. Franchises take away this.
Painter Choice is our advertising and marketing firm. We deal with franchisees throughout the nation. I constantly really feel terrible for these entrepreneur due to the fact that they have such a difficult time generating service.
A typical firm in Atlanta, for instance, can use our lead service in North Atlanta to create 20-30 leads monthly.
Yet a franchisee in North Atlanta who only owns the civil liberties to 7-8 zip codes can only produce 5-7 leads each month from our lead service.
Simply put, if those franchisees had their own service, they can right away boost their company 3-5 times! In other terms, that suggests an rise from $500,000 to $2,000,000. This is a substantial constraint on your potential service development.
As a franchisee, your only option is to purchase even more area, or such it up and also maintain your business tiny.
However if another person currently owns the close-by area, you do not have that choice.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Essentially, franchisees as well as the franchisor have actually misaligned rewards. The franchisor wishes to create as much income as possible due to the fact that they obtain paid a set percent of earnings.
But as business proprietor, your goal is to optimize revenue.
I'm a big follower in aligning incentives, as well as in this situation, motivations are not aligned. They are playing a different game than you are. They intend to make best use of earnings in all of their areas, and market as several franchises as they can.

TROUBLE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're acquiring a job. Allow me show you why.
As a result of nobilities, your margins end up being around 10% -12% after all organisation expenditures.
In order to make $100k/year you 'd need to have a $1,000,000 company.
You can't have a $1,000,000 service in the small area. And even if you can, you're stuck at a maximum of $100,000 on your own. You're paying $70k-$ 100k/year in nobilities of what?
That's a ludicrous quantity of money to pay your franchise business ... the same business that has an agreement that they hold over your head not enabling you to expand your service geographically.
They've got you by the spheres.
Or, you can purchase an additional region to grow. Yet once more ... I 'd rather not have to spend for the right to grow my company. That's absurd.
Many franchises wind up in the $500,000-$ 600,000 array. You can probably make $80,000-$ 110,000, sure. You likewise don't ever before have adequate margin to hire other people to run the entire business, which is one of the greatest benefits to developing a firm.
You most likely aren't generating sufficient profits to also employ really strong staff members. In our business, we pay about 5-6% to our manufacturing supervisor who oversees $1,000,000 in production. That's $50,000-$ 60,000 annually for the supervisor. Yet if you are just doing $500,000 a year in earnings, you can pay 5% ($ 25,000) to your production supervisor, which is insufficient money for a strong worker.
Your options are to pay a greater percent ( eliminating your revenue margin), or get the job done on your own ( eliminating your lifestyle). Both of which are not extremely appealing alternatives.
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IN SUMMARY:
You pay a great deal of cash to limit your growth, you do not reach construct your very own thing, and if you want to grow geographically you need to pay for the civil liberties to do so ... assuming no one else already has the rights to the region you are trying to buy.
Due to your limitations, and also the high aristocracy charge, you are dramatically limited in your capability to expand your earnings, build a solid team, and construct a huge business.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong service strategy
# 2-- They do it for the assistance as well as training supplied by the franchise
# 3-- They do it for the neighborhood of various other franchisees so they aren't alone
# 4-- They do it out of anxiety of failing
Now, let's consider services. How can you get all the advantages without paying the high cost of a franchise?

BENEFIT # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the expense of a franchise business, you can buy my business system. This is the exact business system we make use of and 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 program consists of training and assistance. When you start with Painting Business Academy, you get accessibility to the entire business system as well as all of the training that goes along with that system.

BENEFIT # 3: THEY DO IT FOR THE COMMUNITY SO THEY AREN'T ALONE
When you sign up with Painting Business Academy, you likewise join our personal members-only Facebook team. We have lots of questions asked each day from our participants.
Our neighborhood is highly involved and energetic.
People in our community also share their successes. Simply recently a person shared a Facebook marketing method, verbatim, that's eliminating it for their service.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more money does not eliminate the fear of failure. With Painting Business Academy, you can obtain accessibility to a strong business plan, company training, as well as all of the done-for-you kinds and systems that are confirmed to develop a million-dollar painting company.
You likewise obtain accessibility to the remarkable community of similar entrepreneurs doing the same thing as you that we discussed earlier. While you do pay 1/10th of the cost in advance (on the high end), you have NO nobilities to pay afterwards.
The possibility of failure is the same whether you remain in a franchise or running your very own company. When you acquire a franchise, you are taking a larger danger, implying there's a larger failing if you do fail.

WHAT NOW?
Before you purchase a franchise business and also toss countless bucks down the commode for a tested system, you might wish to have a look at Painting Business Academy.
Painting Business Academy is likewise a tested system to build a million-dollar paint firm, with a community of numerous others. On top of that, there is no ongoing nobility, and also no geographical restrictions to growth.
Get every one of the benefits of a Painting Franchise in Aiken for a portion of the cost. Inspect the training course out below and call me if you have any type of concerns.
The paint business is a wonderful business to be in! I hope you'll belong of it soon.
All the best!

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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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