Considering A Painting Franchise in Greenwood?

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Should You Buy a Painting Franchise in Greenwood ?

Don't Buy a Painting Franchise in Greenwood

• 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 Greenwood
• 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
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• Training
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• 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 Greenwood

If you are thinking of buying a paint franchise business, stop now.
I'm going to break down the essential problems with getting a painting franchise, and also the different options you need to begin a painting firm.

This is based on my experience expanding a effective paint company where we thought about becoming a franchise business but chose for a collaboration arrangement rather. I listen to the struggles of franchisee's regularly, and I feel for them.



Painting Franchise in Greenwood 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 Greenwood 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 Greenwood ?

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

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BR> I do not desire you to finish up in the same placement that many franchisees discover themselves in.
There is a much better means! We will certainly start with the troubles of a franchise, after that we'll enter remedies.

TROUBLE # 1: THE REAL COST OF A PAINTING FRANCHISE
CertaPro Painters, Five Star Painting, 360 Painting, and also WOW-1-Day Painting are a few of the bigger franchise business out there.
These franchises 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.
They additionally take 6-9% as an recurring nobility ... permanently.
If you stay in business for 10 years and also you produce $5,000,000 in profits, this franchise winds up costing you upwards of $500,000. That's a steep cost to pay.
As well as of training course you obtain some support and also business systems, however every little thing that a franchise supplies can be gotten through other avenues for a lot less than $500,000.

PROBLEM # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you purchase a Painting Franchise in Greenwood you are acquiring the civil liberties to that company in a set area. You are designated a small number of postal code where you have the legal rights to the company.
This is a HUGE issue. The easiest method to expand and increase a paint company is by increasing geographically. Franchises take away this.
Painter Choice is our advertising company. We collaborate with franchisees all over the country. I always feel dreadful for these company proprietors because they have such a difficult time creating organisation.
A regular business in Atlanta, as an example, can use our lead service in North Atlanta to create 20-30 leads each month.
Yet a franchisee in North Atlanta who only possesses the legal rights to 7-8 postal code can just produce 5-7 leads per month from our lead solution.
Simply put, if those franchisees had their own organisation, they can immediately enhance their business 3-5 times! In various other terms, that implies an boost from $500,000 to $2,000,000. This is a large limitation on your potential organisation growth.
As a franchisee, your only choice is to acquire even more area, or such it up as well as keep your company little.
If a person else already possesses the neighboring territory, you don't have that option.

PROBLEMS # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees and the franchisor have actually misaligned motivations. The franchisor wants to generate as much earnings as feasible because they earn money a set percent of revenue.
However as business owner, your goal is to make best use of earnings.
I'm a big believer in aligning motivations, and in this instance, incentives are not straightened. They are playing a various game than you are. They intend to maximize revenue in all of their regions, as well as offer as several franchise business as they can.

PROBLEM # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're purchasing a work. Allow me reveal you why.
As a result of nobilities, your margins wind up being around 10% -12% besides company costs.
In order to make $100k/year you would certainly need to have a $1,000,000 organisation.
You can't have a $1,000,000 company in the small area. As well as also if you can, you're stuck at a optimum of $100,000 for on your own. You're paying $70k-$ 100k/year in royalties wherefore?
That's a ludicrous amount of money to pay your franchise ... the exact same company that has an contract that they hold over your head not enabling you to expand your company geographically.
They've obtained you by the balls.
Or, you can purchase an additional region to grow. Yet again ... I 'd instead not have to pay for the right to grow my organisation. That's absurd.
The majority of franchise business end up in the $500,000-$ 600,000 range. You can possibly make $80,000-$ 110,000, sure. You also do not ever have sufficient margin to work with various other individuals to run the whole company, which is one of the best benefits to constructing a company.
You most likely aren't creating enough income to even employ actually strong workers. In our firm, we pay about 5-6% to our production supervisor who oversees $1,000,000 in manufacturing. That's $50,000-$ 60,000 annually for the manager. If you are only doing $500,000 a year in income, you can pay 5% ($ 25,000) to your production supervisor, which is not enough money for a solid employee.
Your choices are to pay a higher percentage ( eliminating your earnings margin), or do the work on your own (killing your lifestyle). Both of which are not very appealing options.
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IN SUMMARY:
You pay a great deal of money to restrict your growth, you don't get to develop your own thing, and also if you intend to expand geographically you need to spend for the civil liberties to do so ... thinking no one else already possesses the legal rights to the region you are shopping.
Due to your limitations, and also the high royalty cost, you are considerably limited in your capacity to expand your profits, construct a solid team, and develop a big business.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong service plan
# 2-- They do it for the assistance and also training provided by the franchise
# 3-- They do it for the area of various other franchisees so they aren't alone
# 4-- They do it out of fear of failing
Now, let's take a look at remedies. Exactly how can you get all the advantages without paying the steep price of a franchise business?

ADVANTAGE # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the price of a franchise, you can buy my organisation system. This is the precise service system we make use of as well as comply with in our service, which corrected $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 assistance. When you start with Painting Business Academy, you obtain access to the entire service system and also 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 join Painting Business Academy, you likewise join our personal members-only Facebook group. We have dozens of concerns asked on a daily basis from our members.
Our neighborhood is highly involved and energetic.
People in our area even share their successes. Just the various other day someone shared a Facebook advertising strategy, word for word, that's killing it for their company.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more money does not remove the concern of failing. With Painting Business Academy, you can obtain accessibility to a strong service strategy, service training, as well as all of the done-for-you forms and also systems that are shown to build a million-dollar paint service.
You also obtain access to the amazing area of similar business owners doing the same thing as you that we discussed previously. While you do pay 1/10th of the cost in advance (on the high-end), you have NO aristocracies to pay after that.
The chance of failing is the exact same whether you are in a franchise or running your very own company. When you purchase a franchise, you are taking a larger threat, suggesting there's a bigger failure if you do fall short.

SO WHAT NOW?
Prior to you buy a franchise as well as toss hundreds of dollars down the toilet for a tested system, you might intend to have a look at Painting Business Academy.
Painting Business Academy is additionally a proven system to construct a million-dollar painting company, with a neighborhood of thousands of others. Furthermore, there is no recurring aristocracy, as well as no geographical limitations to growth.
Get all of the advantages of a Painting Franchise in Greenwood for a portion of the rate. Inspect the course out right here and contact me if you have any concerns.
The painting business is a fantastic service to be in! I hope you'll belong of it quickly.
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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