Considering A Painting Franchise in Okatie?

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

Should You Buy a Painting Franchise in Okatie ?

Don't Buy a Painting Franchise in Okatie

• 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 Okatie
• 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 Okatie

If you are thinking about getting a painting franchise business, stop now.
I'm mosting likely to break down the fundamental issues with acquiring a paint franchise business, and the alternate choices you have to start a painting company.

This is based on my experience expanding a successful painting service where we considered becoming a franchise business however chose a collaboration setup instead. I listen to the battles of franchisee's continuously, and also I really feel for them.



Painting Franchise in Okatie 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 Okatie 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 Okatie ?

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

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BR> I do not want you to wind up in the same position that lots of franchisees discover themselves in.
There is a far better means! We will certainly start with the troubles of a franchise, then we'll get involved in options.

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 franchises out there.
These franchises vary from $10,000-$ 40,000 in franchise business costs simply for the right to the franchise business in a restricted number of zip codes where you can operate your franchise.
They likewise take 6-9% as an ongoing aristocracy ... permanently.
If you are in company for 10 years as well as you create $5,000,000 in earnings, this franchise business winds up costing you upwards of $500,000. That's a high cost to pay.
As well as of training course you get some assistance and also organisation systems, however whatever that a franchise gives can be gotten via various other avenues for much less than $500,000.

PROBLEM # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you get a Painting Franchise in Okatie you are purchasing the civil liberties to that service in a established territory. You are appointed a tiny number of postal code where you have the legal rights to the company.
This is a HUGE trouble. The most convenient way to expand and broaden a paint service is by increasing geographically. Franchises take away this.
Painter Choice is our advertising company. We function with franchisees around the nation. I constantly feel horrible for these organisation owners due to the fact that they have such a tough time producing business.
A typical company in Atlanta, for instance, can utilize our lead solution in North Atlanta to generate 20-30 leads monthly.
A franchisee in North Atlanta who just has the rights to 7-8 zip codes can only generate 5-7 leads per month from our lead service.
To put it simply, if those franchisees had their very own organisation, they might promptly increase their service 3-5 times! In various other terms, that suggests an boost from $500,000 to $2,000,000. This is a huge restriction on your potential company development.
As a franchisee, your only option is to acquire more area, or such it up as well as keep your company little.
If someone else currently possesses the close-by region, you don't have that option.

TROUBLES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Essentially, franchisees and the franchisor have actually misaligned motivations. The franchisor desires to create as much income as possible since they make money a set percent of income.
However as the organisation proprietor, your objective is to make best use of earnings.
I'm a big follower in lining up motivations, as well as in this instance, motivations are not straightened. They are playing a various video game than you are. They intend to optimize profits in all of their territories, and also sell as lots of franchises as they can.

PROBLEM # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're getting a work. Let me show you why.
Due to nobilities, 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.
However you can not have a $1,000,000 service in the tiny territory. As well as even if you can, you're stuck at a maximum of $100,000 on your own. You're paying $70k-$ 100k/year in royalties wherefore?
That's a ludicrous amount of cash to pay your franchise business ... the very same company that has an contract that they hold over your head not allowing you to grow your business geographically.
They've got you by the rounds.
Or, you can buy an additional territory to expand. Again ... I would certainly instead not have to pay for the right to grow my organisation. That's absurd.
The majority of franchises end up in the $500,000-$ 600,000 variety. You can most likely make $80,000-$ 110,000, sure. You additionally don't ever have sufficient margin to employ other people to run the whole organisation, which is one of the best advantages to developing a firm.
You probably aren't creating enough revenue to even hire really solid employees. In our company, we pay about 5-6% to our production supervisor who looks after $1,000,000 in production. That's $50,000-$ 60,000 per year for the supervisor. But if you are only doing $500,000 a year in earnings, you can pay 5% ($ 25,000) to your manufacturing supervisor, which is inadequate money for a strong staff member.
Your choices are to pay a greater portion ( eliminating your revenue margin), or do the task on your own ( eliminating your lifestyle). Both of which are not extremely eye-catching choices.
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IN SUMMARY:
You pay a great deal of money to limit your development, you don't reach build your very own point, as well as if you want to expand geographically you need to spend for the rights to do so ... thinking no one else currently owns the legal rights to the region you are trying to buy.
Due to your limitations, as well as the high royalty charge, you are significantly limited in your capability to expand your earnings, construct a solid team, as well as develop a big organisation.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong company strategy
# 2-- They do it for the assistance as well as training supplied by the franchise business
# 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 take a look at solutions. Just how can you get all the advantages without paying the steep cost of a franchise business?

BENEFIT # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the price of a franchise business, you can acquire my business system. This is the precise organisation system we make use of as well as comply with in our business, which corrected $3,000,000 in earnings in 2016.

BENEFIT # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My program consists of training and also assistance. When you begin with Painting Business Academy, you obtain access to the entire organisation system as well as all of the training that accompanies 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 private members-only Facebook team. We have loads of questions asked everyday from our members.
Our community is highly involved and also energetic.
People in our area even share their successes. Just a few days ago someone shared a Facebook advertising and marketing strategy, word for word, that's killing it for their service.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more money does not eliminate the worry of failing. With Painting Business Academy, you can get accessibility to a solid business plan, organisation training, and all of the done-for-you kinds and also systems that are proven to develop a million-dollar paint business.
You also get accessibility to the remarkable neighborhood of similar entrepreneurs doing the very same thing as you that we talked about previously. While you do pay 1/10th of the expense in advance (on the luxury), you have NO nobilities to pay afterwards.
The chance of failure coincides whether you are in a franchise or running your very own company. When you acquire a franchise business, you are taking a larger risk, implying there's a bigger failing if you do fail.

WHAT NOW?
Before you spend in a franchise and also throw thousands of bucks down the bathroom for a tried and tested system, you could wish to have a look at Painting Business Academy.
Painting Business Academy is also a tested system to build a million-dollar paint company, with a neighborhood of numerous others. In addition, there is no recurring nobility, and also no geographical constraints to development.
Get every one of the benefits of a Painting Franchise in Okatie for a fraction of the cost. Check the course out below as well as call me if you have any kind of questions.
The paint business is a fantastic business to be in! I hope you'll be a part 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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