Considering A Painting Franchise in Winnsboro?

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

Should You Buy a Painting Franchise in Winnsboro ?

Don't Buy a Painting Franchise in Winnsboro

• 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 Winnsboro
• 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
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• Training
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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 Winnsboro

If you are thinking about buying a painting franchise business, quit right currently.
I'm mosting likely to break down the fundamental problems with purchasing a paint franchise business, and the alternative options you need to start a paint company.

This is based upon my experience expanding a successful paint company where we took into consideration coming to be a franchise however chose a partnership arrangement rather. I listen to the battles of franchisee's continuously, and also I really feel for them.



Painting Franchise in Winnsboro 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 Winnsboro 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 Winnsboro ?

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

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BR> I do not want you to wind up in the exact same setting that numerous franchisees find themselves in.
There is a much better way! We will certainly begin with the problems of a franchise business, then we'll enter solutions.

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 larger franchises out there.
These franchise business vary from $10,000-$ 40,000 in franchise business costs simply for the right to the franchise business 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 generate $5,000,000 in revenue, this franchise winds up costing you upwards of $500,000. That's a high cost to pay.
As well as of course you obtain some support as well as business systems, yet every little thing that a franchise offers can be gotten via other opportunities for much less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you get a Painting Franchise in Winnsboro you are getting the rights to that business in a established area. You are designated a handful of postal code where you have the legal rights to business.
This is a HUGE trouble. The easiest way to grow and increase a painting business is by increasing geographically. Franchises take away this right.
Painter Choice is our marketing company. We collaborate with franchisees around the country. I always feel terrible for these local business owner because they have such a tough time generating business.
A regular firm in Atlanta, as an example, can utilize our lead solution in North Atlanta to produce 20-30 leads monthly.
But a franchisee in North Atlanta that just owns the civil liberties to 7-8 postal code can only generate 5-7 leads each month from our lead solution.
In other words, if those franchisees had their own business, they could right away boost their organisation 3-5 times! In other terms, that suggests an boost from $500,000 to $2,000,000. This is a huge limitation on your prospective business development.
As a franchisee, your only choice is to acquire more region, or such it up as well as maintain your service small.
Yet if another person already has the nearby area, you do not have that option.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Fundamentally, franchisees and also the franchisor have actually misaligned incentives. The franchisor desires to produce as much profits as feasible because they get paid a set percent of revenue.
As the organisation proprietor, your goal is to maximize earnings.
I'm a big follower in lining up rewards, and in this situation, incentives are not straightened. They are playing a various game than you are. They wish to optimize income in all of their territories, and market as numerous franchise business as they can.

PROBLEM # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're getting a work. Let me reveal you why.
Due to royalties, your margins wind up being around 10% -12% nevertheless overhead.
In order to make $100k/year you 'd have to have a $1,000,000 company.
You can not have a $1,000,000 company in the little territory. 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 nobilities for what?
That's a crazy quantity of money to pay your franchise ... the very same company that has an agreement that they hold over your head not permitting you to grow your business geographically.
They've got you by the rounds.
Or, you can buy an additional territory to expand. Yet again ... I would certainly rather not have to pay for the right to grow my company. That's ridiculous.
Many franchise business wind up in the $500,000-$ 600,000 array. You can possibly make $80,000-$ 110,000, sure. You likewise do not ever before have adequate margin to employ other individuals to run the entire service, which is one of the best benefits to constructing a business.
You most likely aren't creating sufficient earnings to also work with truly solid workers. In our company, we pay concerning 5-6% to our production manager that supervises $1,000,000 in manufacturing. That's $50,000-$ 60,000 annually for the manager. If you are only doing $500,000 a year in profits, you can pay 5% ($ 25,000) to your manufacturing supervisor, which is not sufficient money for a solid employee.
Your alternatives are to pay a greater portion ( eliminating your profit margin), or do the task yourself (killing your way of living). Both of which are not very eye-catching options.
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IN SUMMARY:
You pay a great deal of money to limit your growth, you don't get to develop your own thing, and if you wish to expand geographically you require to spend for the rights to do so ... thinking no one else already possesses the civil liberties to the area you are shopping.
Because of your constraints, and also the high nobility fee, you are substantially limited in your capacity to expand your earnings, develop a solid group, and develop a big organisation.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong company plan
# 2-- They do it for the support and training given by the franchise business
# 3-- They do it for the area of various other franchisees so they aren't alone
# 4-- They do it out of fear of failure
Currently, allow's look at solutions. Just how can you get all the benefits without paying the steep rate of a franchise business?

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

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My training course includes training and support. When you start with Painting Business Academy, you obtain accessibility to the entire business system and also 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 personal members-only Facebook group. We have dozens of questions asked every day from our participants.
Our community is highly engaged and also active.
People in our community also share their successes. Just the other day somebody shared a Facebook advertising approach, word for word, that's eliminating it for their business.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more money does not eliminate the fear of failure. With Painting Business Academy, you can obtain access to a strong service plan, organisation training, and all of the done-for-you forms and also systems that are shown to develop a million-dollar painting company.
You likewise get accessibility to the incredible neighborhood of like-minded business owners doing the very same thing as you that we chatted about previously. While you do pay 1/10th of the price up front (on the high end), you have NO nobilities to pay after that.
The likelihood of failure coincides whether you remain in a franchise business or running your own service. Nevertheless, when you buy a franchise, you are taking a larger threat, indicating there's a larger failing if you do fall short.

WHAT NOW?
Before you purchase a franchise business and also throw thousands of dollars down the commode for a tested system, you may intend to check out Painting Business Academy.
Painting Business Academy is additionally a tried and tested system to construct a million-dollar painting company, with a neighborhood of numerous others. Furthermore, there is no recurring aristocracy, and also no geographical limitations to growth.
Obtain all of the advantages of a Painting Franchise in Winnsboro for a fraction of the price. Examine the program out right here and contact me if you have any type of concerns.
The painting business is a terrific business to be in! I wish you'll be a component of it quickly.
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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