Considering A Painting Franchise in Ladson?

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

Should You Buy a Painting Franchise in Ladson ?

Don't Buy a Painting Franchise in Ladson

• 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 Ladson
• 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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• 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 Ladson

If you are considering acquiring a painting franchise, quit right currently.
I'm going to damage down the essential problems with purchasing a painting franchise, as well as the alternative choices you have to start a paint company.

This is based on my experience growing a effective paint business where we took into consideration ending up being a franchise business but decided for a collaboration configuration instead. I hear the struggles of franchisee's frequently, and also I really feel for them.



Painting Franchise in Ladson 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 Ladson 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 Ladson ?

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

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BR> I don't desire you to end up in the same setting that several franchisees find themselves in.
There is a better method! We will begin with the issues of a franchise, then we'll get involved in remedies.

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 larger franchises available.
These franchises vary from $10,000-$ 40,000 in franchise business fees simply for the right to the franchise business in a limited variety of postal code where you can operate your franchise.
They likewise take 6-9% as an recurring aristocracy ... permanently.
If you stay in business for 10 years and you produce $5,000,000 in profits, this franchise finishes up costing you upwards of $500,000. That's a high cost to pay.
As well as naturally you obtain some support as well as business systems, however everything that a franchise business offers can be obtained through other opportunities for much less than $500,000.

TROUBLE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you get a Painting Franchise in Ladson you are purchasing the rights to that organisation in a set region. You are appointed a handful of zip codes where you have the legal rights to the business.
This is a HUGE problem. The most convenient means to grow and expand a paint company is by increasing geographically. Franchises take away this.
Painter Choice is our advertising and marketing business. We deal with franchisees around the country. I constantly feel dreadful for these business proprietors because they have such a tough time creating business.
A normal company in Atlanta, for instance, can utilize our lead solution in North Atlanta to generate 20-30 leads each month.
A franchisee in North Atlanta who only has the legal rights to 7-8 zip codes can only create 5-7 leads per month from our lead service.
In other words, if those franchisees had their very own company, they might immediately boost their service 3-5 times! In other terms, that means an rise from $500,000 to $2,000,000. This is a massive limitation on your prospective service growth.
As a franchisee, your only alternative is to buy even more territory, or such it up as well as maintain your organisation small.
However if someone else currently has the nearby region, you don't have that alternative.

TROUBLES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Essentially, franchisees and also the franchisor have misaligned motivations. The franchisor wants to generate as much earnings as feasible because they earn money a collection percent of earnings.
As the company owner, your goal is to make best use of earnings.
I'm a huge follower in aligning incentives, and in this instance, rewards are not aligned. They are playing a various video game than you are. They desire to optimize income in all of their regions, and also sell as many franchises as they can.

TROUBLE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're buying a job. Allow me reveal you why.
As a result of nobilities, your margins wind up being around 10% -12% after all organisation expenditures.
In order to make $100k/year you 'd have to have a $1,000,000 company.
Yet you can not have a $1,000,000 service in the tiny region. And also if you can, you're stuck at a optimum of $100,000 for on your own. You're paying $70k-$ 100k/year in nobilities for what?
That's a ludicrous amount of money to pay your franchise business ... the very same business that has an contract that they hold over your head not enabling you to expand your company geographically.
They've got you by the spheres.
Or, you can get another region to grow. Once again ... I 'd rather not have to pay for the right to expand my company. That's absurd.
Many franchises finish up in the $500,000-$ 600,000 range. You can probably make $80,000-$ 110,000, sure. You additionally do not ever before have adequate margin to employ other people to run the entire organisation, which is one of the best benefits to developing a company.
You most likely aren't producing sufficient income to also hire actually solid employees. In our business, we pay regarding 5-6% to our production manager who supervises $1,000,000 in manufacturing. That's $50,000-$ 60,000 per year for the manager. If you are just doing $500,000 a year in revenue, you can pay 5% ($ 25,000) to your manufacturing supervisor, which is not sufficient cash for a solid employee.
Your options are to pay a higher percentage (killing your profit margin), or do the task on your own ( eliminating your lifestyle). Both of which are not really attractive alternatives.
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IN SUMMARY:
You pay a great deal of cash to restrict your growth, you don't reach develop your very own point, and also if you wish to grow geographically you need to pay for the legal rights to do so ... thinking nobody else currently possesses the rights to the territory you are shopping.
Due to your restrictions, and the high aristocracy cost, you are significantly restricted in your capability to grow your revenue, construct a solid group, and also develop a large company.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid organisation plan
# 2-- They do it for the support as well as training given 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 worry of failure
Now, let's check out solutions. How can you obtain all the benefits without paying the steep cost of a franchise business?

BENEFIT # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the cost of a franchise business, you can buy my company system. This is the precise business system we utilize and also adhere to in our service, which corrected $3,000,000 in revenue in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My program includes training as well as support. When you begin with Painting Business Academy, you obtain access to the entire organisation system and also all of the training that accompanies that system.

ADVANTAGE # 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 dozens of inquiries asked every day from our members.
Our neighborhood is very engaged and active.
Individuals in our neighborhood also share their successes. Simply the other day somebody shared a Facebook advertising approach, word for word, that's eliminating it for their company.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more money does not get rid of the anxiety of failure. With Painting Business Academy, you can get access to a solid company strategy, organisation training, and also all of the done-for-you kinds as well as systems that are confirmed to build a million-dollar painting organisation.
You likewise get access to the amazing community of like-minded business owners doing the very same thing 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 aristocracies to pay afterwards.
The possibility of failure is the very same whether you remain in a franchise business or running your own service. When you get a franchise business, you are taking a bigger danger, suggesting there's a larger failing if you do fail.

SO WHAT NOW?
Prior to you purchase a franchise and throw thousands of dollars down the commode for a proven system, you might wish to have a look at Painting Business Academy.
Painting Business Academy is likewise a proven system to build a million-dollar paint business, with a area of thousands of others. Furthermore, there is no ongoing nobility, and no geographical limitations to development.
Get every one of the advantages of a Painting Franchise in Ladson for a portion of the price. Inspect the training course out right here and also call me if you have any inquiries.
The painting business is a fantastic company to be in! I wish you'll belong of it soon.
Best of 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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