Considering A Painting Franchise in Show Low?

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

Should You Buy a Painting Franchise in Show Low ?

Don't Buy a Painting Franchise in Show Low

• 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 Show Low
• 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
• Training Support
• Training
• Support
• 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 Show Low

If you are thinking about getting a painting franchise, quit now.
I'm going to break down the essential troubles with purchasing a paint franchise, and also the alternate options you need to begin a painting company.

This is based on my experience growing a successful painting business where we considered coming to be a franchise however chose a partnership setup rather. I hear the battles of franchisee's continuously, and also I feel for them.



Painting Franchise in Show Low 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 Show Low 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 Show Low ?

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

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BR> I don't desire you to wind up in the exact same placement that lots of franchisees discover themselves in.
There is a much better method! We will start with the issues of a franchise, after that 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 bigger franchises around.
These franchises range from $10,000-$ 40,000 in franchise business costs just for the right to the franchise business in a minimal variety of zip codes where you can run your franchise business.
They also take 6-9% as an recurring nobility ... forever.
If you stay in business for 10 years and you create $5,000,000 in profits, this franchise business ends up costing you upwards of $500,000. That's a high rate to pay.
And naturally you get some support and organisation systems, but everything that a franchise business supplies can be obtained via various other avenues for a lot less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you purchase a Painting Franchise in Show Low you are buying the civil liberties to that company in a set area. You are assigned a little number of zip codes where you have the rights to the business.
This is a HUGE problem. The most convenient way to grow and increase a paint service is by increasing geographically. Franchise business take away this.
Painter Choice is our advertising company. We deal with franchisees all over the country. I constantly really feel dreadful for these local business owner since they have such a difficult time creating company.
A regular business in Atlanta, for instance, can utilize our lead solution in North Atlanta to generate 20-30 leads per month.
However a franchisee in North Atlanta who just has the legal rights to 7-8 zip codes can only create 5-7 leads monthly from our lead service.
In other words, if those franchisees had their own business, they could right away enhance their business 3-5 times! In other terms, that means an boost from $500,000 to $2,000,000. This is a massive limitation on your potential company growth.
As a franchisee, your only alternative is to purchase more area, or such it up as well as maintain your service little.
If a person else currently possesses the neighboring territory, you don't have that alternative.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Fundamentally, franchisees and also the franchisor have actually misaligned motivations. The franchisor desires to produce as much income as possible because they earn money a collection percent of income.
Yet as the organisation owner, your goal is to maximize earnings.
I'm a huge believer in straightening rewards, as well as in this case, motivations are not lined up. They are playing a various game than you are. They wish to optimize profits in all of their territories, and also offer as many franchises as they can.

TROUBLE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're buying a job. Allow me show you why.
Due to royalties, your margins finish up being around 10% -12% besides overhead.
In order to make $100k/year you would certainly have to have a $1,000,000 service.
Yet you can't have a $1,000,000 organisation in the little area. And also also if you can, you're stuck at a optimum of $100,000 on your own. You're paying $70k-$ 100k/year in royalties for what?
That's a ludicrous amount of cash to pay your franchise business ... the exact same company that has an contract that they hold over your head not permitting you to grow your business geographically.
They've obtained you by the rounds.
Or, you can acquire one more territory to expand. Once again ... I would certainly instead not have to pay for the right to expand my service. That's silly.
The majority of franchises finish up in the $500,000-$ 600,000 array. You can most likely make $80,000-$ 110,000, sure. But you likewise don't ever before have adequate margin to employ various other individuals to run the entire service, which is one of the biggest benefits to developing a firm.
You probably aren't producing adequate profits to even work with actually strong workers. In our firm, we pay about 5-6% to our manufacturing supervisor that oversees $1,000,000 in production. That's $50,000-$ 60,000 each year for the supervisor. However if you are only doing $500,000 a year in profits, you can pay 5% ($ 25,000) to your production manager, which is insufficient money for a strong worker.
Your options are to pay a higher portion (killing your profit margin), or get the job done yourself ( eliminating your way of life). Both of which are not really appealing options.
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IN SUMMARY:
You pay a lot of cash to limit your growth, you do not reach construct your own point, as well as if you wish to expand geographically you require to spend for the civil liberties to do so ... assuming no one else currently possesses the legal rights to the area you are trying to get.
Because of your limitations, and the high royalty fee, you are dramatically limited in your capacity to expand your revenue, develop a solid group, and also develop a large company.

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 and also training given 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 services. Exactly how can you obtain all the advantages without paying the steep price 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 purchase my company system. This is the specific organisation system we make use of and also comply with in our company, which corrected $3,000,000 in income 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 begin with Painting Business Academy, you get accessibility to the entire organisation system and all of the training that supports 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 personal members-only Facebook group. We have dozens of questions asked every day from our participants.
Our community is very engaged and active.
Individuals in our community even share their successes. Simply a few days ago a person shared a Facebook advertising and marketing technique, word for word, that's eliminating it for their service.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more money does not get rid of the fear of failure. With Painting Business Academy, you can obtain access to a strong organisation plan, service training, as well as all of the done-for-you kinds as well as systems that are confirmed to build a million-dollar painting organisation.
You also obtain accessibility to the incredible neighborhood 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 expense up front (on the luxury), you have NO royalties to pay afterwards.
The possibility of failure is the very same whether you are in a franchise business or running your own organisation. When you get a franchise business, you are taking a larger danger, implying there's a bigger failing if you do stop working.

SO WHAT NOW?
Before you spend in a franchise business as well as toss hundreds of bucks down the toilet for a tried and tested system, you may intend to have a look at Painting Business Academy.
Painting Business Academy is additionally a tested system to build a million-dollar paint firm, with a neighborhood of hundreds of others. In addition, there is no continuous nobility, and also no geographical limitations to growth.
Get every one of the advantages of a Painting Franchise in Show Low for a fraction of the price. Inspect the course out right here and also contact me if you have any kind of questions.
The paint business is a wonderful company to be in! I wish you'll be a component 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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