Considering A Painting Franchise in Dillon?

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Should You Buy a Painting Franchise in Dillon ?

Don't Buy a Painting 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 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
• Top Painting News
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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 Franchise in Dillon

If you are considering buying a paint franchise, quit now.
I'm going to damage down the essential troubles with acquiring a painting franchise business, as well as the alternate choices you have to start a paint firm.

This is based on my experience expanding a successful paint organisation where we took into consideration coming to be a franchise yet went with a collaboration configuration instead. I listen to the struggles of franchisee's continuously, and also I feel for them.



Painting 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 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 Franchise in Dillon ?

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

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BR> I don't want you to finish up in the exact same setting that several franchisees find themselves in.
There is a better way! We will start with the troubles of a franchise business, 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 available.
These franchises vary from $10,000-$ 40,000 in franchise business fees just for the right to the franchise in a limited number of postal code where you can run your franchise.
They additionally take 6-9% as an ongoing aristocracy ... for life.
If you stay in business for 10 years as well as you produce $5,000,000 in earnings, this franchise business ends up costing you upwards of $500,000. That's a high rate to pay.
And certainly you obtain some support and also service systems, but whatever that a franchise offers can be gotten through 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 Franchise in Dillon you are acquiring the rights to that organisation in a established area. You are appointed a small number of postal code where you have the legal rights to business.
This is a HUGE trouble. The simplest method to grow as well as increase a paint business is by expanding geographically. Franchise business eliminate this right.
Painter Choice is our advertising and marketing company. We work with franchisees all over the nation. I always feel awful for these business owners because they have such a tough time generating company.
A common firm in Atlanta, as an example, can utilize our lead solution in North Atlanta to create 20-30 leads monthly.
A franchisee in North Atlanta that just has the legal rights to 7-8 zip codes can only generate 5-7 leads per month from our lead service.
Simply put, if those franchisees had their own business, they can instantly enhance their business 3-5 times! In other terms, that suggests an rise from $500,000 to $2,000,000. This is a large restriction on your potential company development.
As a franchisee, your only alternative is to purchase even more area, or such it up as well as maintain your service tiny.
However if a person else already has the close-by area, you do not have that option.

PROBLEMS # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Fundamentally, franchisees as well as the franchisor have misaligned rewards. The franchisor wishes to generate as much revenue as possible since they obtain paid a set percent of earnings.
As the service proprietor, your objective is to make the most of profit.
I'm a big believer in aligning rewards, and in this instance, rewards are not lined up. They are playing a various game than you are. They intend to optimize revenue in all of their areas, as well as sell as many franchise business as they can.

ISSUE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're getting a work. Let me show you why.
Since of royalties, your margins wind up being around 10% -12% nevertheless overhead.
In order to make $100k/year you would certainly have to have a $1,000,000 company.
Yet you can't have a $1,000,000 business in the little area. As well as also if you can, you're stuck at a maximum of $100,000 for yourself. You're paying $70k-$ 100k/year in nobilities wherefore?
That's a crazy quantity of cash to pay your franchise business ... the very same business that has an contract that they hold over your head not permitting you to expand your company geographically.
They've got you by the spheres.
Or, you can buy one more territory to grow. Again ... I would certainly instead not have to pay for the right to grow my service. That's absurd.
The majority of franchise business wind up in the $500,000-$ 600,000 array. You can possibly make $80,000-$ 110,000, sure. You also don't ever before have sufficient margin to work with other individuals to run the entire business, which is one of the biggest advantages to building a business.
You possibly aren't creating enough profits to even employ truly solid workers. In our company, 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. If you are just doing $500,000 a year in profits, you can pay 5% ($ 25,000) to your manufacturing manager, which is not enough cash for a solid staff member.
Your alternatives are to pay a greater percent ( eliminating your earnings margin), or do the job yourself (killing your lifestyle). Both of which are not very appealing choices.
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IN SUMMARY:
You pay a whole lot of cash to restrict your development, you do not obtain to build your very own point, and also if you wish to grow geographically you require to spend for the rights to do so ... thinking nobody else currently has the rights to the area you are attempting to purchase.
Because of your limitations, and also the high royalty fee, you are dramatically restricted in your ability to grow your income, construct a strong group, and develop a big company.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong organisation plan
# 2-- They do it for the support and also training supplied by the franchise
# 3-- They do it for the community of various other franchisees so they aren't alone
# 4-- They do it out of fear of failing
Currently, let's check out options. Exactly how can you obtain all the advantages without paying the steep cost 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 acquire my service system. This is the specific organisation system we make use of and also comply with in our service, which corrected $3,000,000 in earnings in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My training course includes training and assistance. When you begin with Painting Business Academy, you get accessibility to the entire service system and 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 also join our personal members-only Facebook group. We have lots of concerns asked everyday from our participants.
Our community is very involved and also active.
Individuals in our area also share their successes. Simply the various other day somebody shared a Facebook marketing strategy, verbatim, that's killing it for their service.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more cash does not get rid of the concern of failure. With Painting Business Academy, you can get accessibility to a solid company plan, organisation training, and all of the done-for-you kinds as well as systems that are confirmed to build a million-dollar painting service.
You additionally obtain access to the outstanding neighborhood of like-minded entrepreneurs doing the exact same point as you that we discussed earlier. While you do pay 1/10th of the cost up front (on the luxury), you have NO royalties to pay after that.
The probability of failing coincides whether you are in a franchise or running your own business. Nevertheless, when you acquire a franchise, you are taking a bigger risk, suggesting there's a larger failure if you do fall short.

SO WHAT NOW?
Before you purchase a franchise business and also toss hundreds of dollars down the bathroom for a tested system, you might wish to have a look at Painting Business Academy.
Painting Business Academy is likewise a tried and tested system to develop a million-dollar paint firm, with a area of hundreds of others. Additionally, there is no ongoing aristocracy, as well as no geographical constraints to development.
Get all of the advantages of a Painting Franchise in Dillon for a portion of the cost. Examine the program out below as well as call me if you have any kind of inquiries.
The painting business is a great service to be in! I wish you'll be a part of it soon.
Great 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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