Considering A Painting Franchise in Williamston?

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Should You Buy a Painting Franchise in Williamston ?

Don't Buy a Painting Franchise in Williamston

• 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 Williamston
• 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 Williamston

If you are assuming of acquiring a painting franchise business, stop today.
I'm going to break down the basic problems with buying a paint franchise, and also the different choices you have to start a painting firm.

This is based on my experience expanding a successful paint business where we took into consideration coming to be a franchise yet selected a partnership configuration rather. I hear the struggles of franchisee's frequently, and also I really feel for them.



Painting Franchise in Williamston 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 Williamston 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 Williamston ?

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

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BR> I don't want you to finish up in the exact same setting that lots of franchisees discover themselves in.
There is a far better way! We will begin with the issues of a franchise, after that we'll get into remedies.

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 franchises available.
These franchises range from $10,000-$ 40,000 in franchise fees just for the right to the franchise in a limited variety of postal code where you can run your franchise.
They likewise take 6-9% as an ongoing royalty ... permanently.
If you stay in business 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.
And also certainly you get some support and also organisation systems, but whatever that a franchise supplies can be gotten with various other avenues for much less than $500,000.

TROUBLE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you get a Painting Franchise in Williamston you are buying the civil liberties to that business in a established region. You are assigned a handful of zip codes where you have the legal rights to the business.
This is a HUGE trouble. The most convenient means to expand and broaden a paint service is by increasing geographically. Franchise business take away this right.
Painter Choice is our advertising and marketing business. We deal with franchisees throughout the nation. I constantly really feel horrible for these company 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 create 20-30 leads monthly.
Yet a franchisee in North Atlanta that only owns the civil liberties to 7-8 zip codes can just produce 5-7 leads monthly from our lead service.
Simply put, if those franchisees had their very own company, they can immediately increase their company 3-5 times! In various other terms, that means an increase from $500,000 to $2,000,000. This is a large constraint on your possible business development.
As a franchisee, your only choice is to buy even more region, or such it up as well as keep your service small.
But if another person already has the neighboring area, you don't have that option.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees and also the franchisor have misaligned rewards. The franchisor desires to produce as much earnings as possible since they make money a set percent of revenue.
As the service owner, your objective is to make the most of revenue.
I'm a large believer in lining up motivations, and in this case, incentives are not aligned. They are playing a various video game than you are. They desire to make the most of revenue in all of their areas, and also market as numerous franchises as they can.

ISSUE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're getting a work. Let me reveal you why.
Due to royalties, your margins end up being around 10% -12% nevertheless service expenditures.
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 service in the little region. As well as even if you can, you're stuck at a maximum of $100,000 for on your own. You're paying $70k-$ 100k/year in royalties of what?
That's a ridiculous amount of cash to pay your franchise ... the very same firm that has an arrangement that they hold over your head not allowing you to expand your organisation geographically.
They've got you by the rounds.
Or, you can buy another territory to expand. Once again ... I 'd instead not have to pay for the right to expand my service. That's unreasonable.
Most franchise business end up in the $500,000-$ 600,000 variety. You can most likely make $80,000-$ 110,000, sure. You additionally do not ever have enough margin to employ other individuals to run the entire organisation, which is one of the biggest benefits to developing a business.
You possibly aren't creating adequate income to even work with actually strong workers. In our business, we pay about 5-6% to our manufacturing supervisor that supervises $1,000,000 in production. That's $50,000-$ 60,000 per year for the supervisor. If you are only doing $500,000 a year in income, you can pay 5% ($ 25,000) to your manufacturing manager, which is not enough money for a strong employee.
Your alternatives are to pay a higher percent (killing your profit margin), or do the task yourself ( eliminating your way of life). Both of which are not really attractive options.
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IN SUMMARY:
You pay a great deal of cash to limit your development, you do not obtain to construct your own point, and if you desire to grow geographically you require to pay for the legal rights to do so ... assuming nobody else already possesses the rights to the region you are shopping.
As a result of your constraints, and the high nobility charge, you are substantially limited in your ability to grow your revenue, build a strong team, and also construct a huge organisation.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid service plan
# 2-- They do it for the support and training offered by the franchise business
# 3-- They do it for the area of other franchisees so they aren't alone
# 4-- They do it out of concern of failure
Currently, allow's check out services. Just how can you get all the benefits without paying the high cost of a franchise?

ADVANTAGE # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the cost of a franchise business, you can purchase my organisation system. This is the precise service system we use as well as adhere to in our organisation, which corrected $3,000,000 in revenue in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My course consists of training and assistance. When you begin with Painting Business Academy, you get access to the whole company 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 likewise join our personal members-only Facebook team. We have loads of questions asked every day from our members.
Our area is highly involved and active.
Individuals in our neighborhood even share their successes. Just the other day a person shared a Facebook advertising and marketing approach, verbatim, that's eliminating it for their business.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more cash does not get rid of the concern of failure. With Painting Business Academy, you can get access to a strong service plan, company training, and all of the done-for-you types as well as systems that are proven to build a million-dollar painting business.
You additionally obtain accessibility to the fantastic area of similar business owners doing the very same thing as you that we discussed previously. While you do pay 1/10th of the cost up front (on the luxury), you have NO aristocracies to pay after that.
The probability of failing is the same whether you remain in a franchise business or running your own business. However, when you purchase a franchise business, you are taking a bigger risk, meaning there's a larger failing if you do fall short.

SO WHAT NOW?
Before you buy a franchise business and toss thousands of bucks down the commode for a tested system, you could wish to take a look at Painting Business Academy.
Painting Business Academy is additionally a proven system to build a million-dollar painting company, with a area of thousands of others. Additionally, there is no continuous royalty, as well as no geographical constraints to development.
Obtain all of the benefits of a Painting Franchise in Williamston for a fraction of the price. Inspect the training course out right here and call me if you have any questions.
The painting business is a excellent company to be in! I wish you'll belong of it soon.
Good good 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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