Considering A Painting Franchise in West Columbia?

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

Should You Buy a Painting Franchise in West Columbia ?

Don't Buy a Painting Franchise in West Columbia

• 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 West Columbia
• 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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• 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 West Columbia

If you are thinking about getting a painting franchise, quit right currently.
I'm mosting likely to break down the essential troubles with buying a paint franchise, as well as the alternate options you have to start a paint firm.

This is based upon my experience growing a effective paint company where we took into consideration becoming a franchise business yet went with a collaboration arrangement instead. I listen to the struggles of franchisee's continuously, and I really feel for them.



Painting Franchise in West Columbia 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 West Columbia 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 West Columbia ?

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

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BR> I don't desire you to finish up in the same position that many franchisees discover themselves in.
There is a much better way! We will begin with the issues of a franchise business, then we'll get involved in solutions.

PROBLEM # 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 franchise business range from $10,000-$ 40,000 in franchise business fees just for the right to the franchise in a limited number of postal code where you can operate your franchise.
They also take 6-9% as an recurring nobility ... for life.
If you stay in business for 10 years and you create $5,000,000 in income, this franchise business finishes up costing you upwards of $500,000. That's a high rate to pay.
And also obviously you get some assistance and also organisation systems, but whatever that a franchise business gives can be gotten via other methods for a lot less than $500,000.

TROUBLE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you purchase a Painting Franchise in West Columbia you are purchasing the legal rights to that service in a established region. You are appointed a handful of zip codes where you have the rights to business.
This is a HUGE issue. The easiest means to grow and also expand a painting organisation is by increasing geographically. Franchise business take away this.
Painter Choice is our advertising and marketing company. We function with franchisees around the country. I always really feel horrible for these entrepreneur because they have such a hard time creating company.
A typical firm in Atlanta, for instance, can use our lead solution in North Atlanta to produce 20-30 leads per month.
Yet a franchisee in North Atlanta that only has the legal rights to 7-8 zip codes can just generate 5-7 leads monthly from our lead solution.
Simply put, if those franchisees had their own business, they can right away increase their business 3-5 times! In various other terms, that implies an boost from $500,000 to $2,000,000. This is a massive constraint on your prospective company development.
As a franchisee, your only choice is to purchase more territory, or such it up as well as maintain your company tiny.
But if somebody else currently has the close-by area, you do not have that choice.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Fundamentally, franchisees and also the franchisor have actually misaligned rewards. The franchisor wishes to create as much income as possible since they obtain paid a collection percent of earnings.
But as the service proprietor, your objective is to make the most of earnings.
I'm a big believer in lining up motivations, and also in this instance, motivations are not aligned. They are playing a various video game than you are. They intend to take full advantage of income in all of their regions, as well as offer as many franchise business as they can.

ISSUE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're purchasing a task. Allow me show you why.
Since of nobilities, your margins wind up being around 10% -12% after all business costs.
In order to make $100k/year you 'd have to have a $1,000,000 company.
However you can't have a $1,000,000 organisation in the little territory. And also if you can, you're stuck at a optimum of $100,000 on your own. You're paying $70k-$ 100k/year in nobilities wherefore?
That's a ludicrous quantity of cash to pay your franchise ... the same company that has an agreement that they hold over your head not enabling you to expand your organisation geographically.
They've got you by the spheres.
Or, you can purchase another region to grow. Once again ... I would certainly instead not have to pay for the right to expand my organisation. That's ridiculous.
The majority of franchises end up in the $500,000-$ 600,000 variety. You can most likely make $80,000-$ 110,000, sure. You likewise do not ever before have sufficient margin to employ other individuals to run the whole service, which is one of the best advantages to developing a company.
You possibly aren't producing adequate profits to even employ actually solid staff members. In our business, we pay concerning 5-6% to our production manager that looks after $1,000,000 in manufacturing. That's $50,000-$ 60,000 each year for the supervisor. If you are just doing $500,000 a year in profits, you can pay 5% ($ 25,000) to your production manager, which is not enough cash for a strong staff member.
Your options are to pay a higher percent (killing your revenue margin), or get the job done yourself (killing your lifestyle). Both of which are not very eye-catching options.
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IN SUMMARY:
You pay a great deal of money to restrict your growth, you do not reach construct your own point, and also if you intend to grow geographically you require to spend for the civil liberties to do so ... presuming no one else currently possesses the rights to the region you are shopping.
Due to your limitations, and also the high aristocracy charge, you are dramatically restricted in your capability to expand your revenue, construct a strong group, and also construct a big service.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid business plan
# 2-- They do it for the assistance as well as training supplied by the franchise business
# 3-- They do it for the neighborhood of other franchisees so they aren't alone
# 4-- They do it out of anxiety of failure
Currently, let's consider solutions. Exactly how can you get all the benefits without paying the high price of a franchise business?

BENEFIT # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the cost of a franchise, you can buy my organisation system. This is the specific service system we utilize as well as follow in our service, which did over $3,000,000 in earnings in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My course consists of training and support. When you begin with Painting Business Academy, you get accessibility to the entire organisation system and 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 sign up with Painting Business Academy, you also join our private members-only Facebook group. We have loads of questions asked everyday from our members.
Our neighborhood is highly engaged and active.
Individuals in our area also share their successes. Simply the other day someone shared a Facebook advertising technique, verbatim, that's eliminating it for their company.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more money does not remove the fear of failure. With Painting Business Academy, you can obtain access to a solid organisation strategy, company training, as well as all of the done-for-you types and also systems that are shown to build a million-dollar paint business.
You additionally get accessibility to the impressive neighborhood of similar business owners doing the same thing as you that we spoke about earlier. While you do pay 1/10th of the price in advance (on the high-end), you have NO royalties to pay after that.
The likelihood of failure is the exact same whether you remain in a franchise business or running your very own business. When you get a franchise business, you are taking a bigger danger, suggesting there's a larger failure if you do stop working.

SO WHAT NOW?
Prior to you buy a franchise business and also toss hundreds of bucks down the bathroom for a tried and tested system, you may desire to look into Painting Business Academy.
Painting Business Academy is likewise a proven system to develop a million-dollar paint firm, with a community of hundreds of others. In enhancement, there is no ongoing nobility, as well as no geographical limitations to development.
Obtain every one of the benefits of a Painting Franchise in West Columbia for a fraction of the rate. Check the course out here and contact me if you have any kind of concerns.
The painting business is a excellent company to be in! I wish 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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