Considering A Painting Franchise in Rock Hill?

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

Should You Buy a Painting Franchise in Rock Hill ?

Don't Buy a Painting Franchise in Rock Hill

• 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 Rock Hill
• 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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• 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 Rock Hill

If you are thinking about purchasing a paint franchise business, stop today.
I'm going to damage down the basic problems with buying a painting franchise, as well as the different options you have to begin a paint firm.

This is based on my experience growing a effective painting organisation where we considered ending up being a franchise business yet opted for a partnership arrangement instead. I hear the battles of franchisee's frequently, and also I feel for them.



Painting Franchise in Rock Hill 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 Rock Hill 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 Rock Hill ?

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

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BR> I do not desire you to wind up in the same position that several franchisees find themselves in.
There is a better means! We will start with the troubles of a franchise business, then we'll obtain right into services.

ISSUE # 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 larger franchise business available.
These franchises range from $10,000-$ 40,000 in franchise costs just for the right to the franchise in a restricted variety of postal code where you can run your franchise business.
They likewise take 6-9% as an ongoing royalty ... forever.
If you stay in business for 10 years and you produce $5,000,000 in revenue, this franchise business winds up costing you upwards of $500,000. That's a steep rate to pay.
And obviously you obtain some support and business systems, yet everything that a franchise supplies can be gotten with other methods for much less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you get a Painting Franchise in Rock Hill you are purchasing the civil liberties to that organisation in a set area. You are designated a handful of postal code where you have the legal rights to the business.
This is a HUGE problem. The simplest way to expand and also increase a painting organisation is by expanding geographically. Franchise business take away this.
Painter Choice is our marketing firm. We work with franchisees throughout the nation. I always feel dreadful for these local business owner because they have such a difficult time producing business.
A common company in Atlanta, for instance, can use our lead service in North Atlanta to produce 20-30 leads monthly.
However a franchisee in North Atlanta that just owns the rights to 7-8 zip codes can just produce 5-7 leads per month from our lead solution.
To put it simply, if those franchisees had their very own business, they could right away boost their organisation 3-5 times! In various other terms, that indicates an boost from $500,000 to $2,000,000. This is a substantial restriction on your potential company growth.
As a franchisee, your only choice is to buy even more region, or such it up and also keep your service small.
If somebody else already possesses the close-by region, you do not have that alternative.

PROBLEMS # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Fundamentally, franchisees as well as the franchisor have actually misaligned motivations. The franchisor wishes to produce as much earnings as possible due to the fact that they earn money a set percent of income.
As the business proprietor, your goal is to maximize profit.
I'm a large follower in lining up rewards, as well as in this situation, rewards are not straightened. They are playing a different game than you are. They desire to maximize earnings in all of their regions, as well as sell as several franchises as they can.

TROUBLE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're buying a job. Allow me show you why.
Since of nobilities, your margins wind up being around 10% -12% nevertheless overhead.
In order to make $100k/year you 'd need to have a $1,000,000 company.
But you can't have a $1,000,000 business in the little region. As well as also if you can, you're stuck at a maximum of $100,000 for on your own. You're paying $70k-$ 100k/year in royalties for what?
That's a ridiculous quantity of money to pay your franchise ... the same company that has an arrangement that they hold over your head not allowing you to expand your business geographically.
They've obtained you by the rounds.
Or, you can get another region to expand. Again ... I would certainly instead not have to pay for the right to grow my business. That's ridiculous.
The majority of franchise business finish up in the $500,000-$ 600,000 array. You can possibly make $80,000-$ 110,000, sure. But you additionally do not ever have sufficient margin to work with other individuals to run the entire service, which is among the greatest benefits to building a business.
You possibly aren't creating adequate income to even employ truly strong employees. In our firm, we pay about 5-6% to our production manager who manages $1,000,000 in manufacturing. That's $50,000-$ 60,000 per year for the supervisor. However if you are just doing $500,000 a year in revenue, you can pay 5% ($ 25,000) to your manufacturing supervisor, which is not adequate money for a solid employee.
Your options are to pay a greater percentage (killing your profit margin), or get the job done on your own (killing your lifestyle). Both of which are not extremely attractive choices.
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IN SUMMARY:
You pay a great deal of money to restrict your growth, you don't reach build your own thing, as well as if you intend to grow geographically you require to spend for the legal rights to do so ... presuming nobody else currently has the civil liberties to the territory you are shopping.
As a result of your constraints, and the high aristocracy charge, you are significantly restricted in your capability to expand your income, construct a strong team, and also construct a large service.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong company strategy
# 2-- They do it for the support as well as training given 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 worry of failing
Now, let's consider remedies. How can you get all the advantages without paying the high price of a franchise business?

ADVANTAGE # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the price of a franchise business, you can acquire my company system. This is the exact business system we use and also adhere to in our company, which corrected $3,000,000 in profits in 2016.

BENEFIT # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My course includes training and assistance. When you get begun with Painting Business Academy, you obtain accessibility to the entire service system as well as all of the training that supports that system.

BENEFIT # 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 group. We have loads of inquiries asked every day from our members.
Our community is highly engaged and also energetic.
People in our area even share their successes. Simply recently a person shared a Facebook advertising approach, verbatim, that's killing it for their organisation.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more money does not remove the anxiety of failure. With Painting Business Academy, you can get access to a strong business strategy, company training, and also all of the done-for-you kinds as well as systems that are proven to construct a million-dollar painting company.
You likewise obtain accessibility to the amazing neighborhood of like-minded business owners doing the exact same thing as you that we discussed earlier. While you do pay 1/10th of the cost in advance (on the luxury), you have NO royalties to pay after that.
The chance of failure coincides whether you are in a franchise business or running your very own service. Nevertheless, when you purchase a franchise, you are taking a larger danger, meaning there's a bigger failing if you do stop working.

WHAT NOW?
Before you invest in a franchise business and also throw thousands of bucks down the commode for a proven system, you might wish to look into Painting Business Academy.
Painting Business Academy is likewise a tried and tested system to develop a million-dollar painting company, with a area of thousands of others. Additionally, there is no ongoing royalty, and no geographical limitations to growth.
Obtain every one of the advantages of a Painting Franchise in Rock Hill for a portion of the price. Inspect the training course out here and also call me if you have any type of concerns.
The paint business is a great service to be in! I wish 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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