Don't Buy A Painting Business Franchise in Alafaya FL

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Should You Buy a Painting Business Franchise in Alafaya FL ?

Don't Buy a Painting Business Franchise in Alafaya FL

• 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 Business Franchise in Alafaya FL
• 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 Business Franchise in Alafaya FL

If you are thinking of purchasing a paint franchise business, quit right now.
I'm going to break down the basic issues with buying a paint franchise business, and the alternate options you need to start a paint firm.

This is based upon my experience expanding a successful paint company where we considered becoming a franchise yet chose a collaboration setup rather. I listen to the struggles of franchisee's frequently, as well as I really feel for them.



Painting Business Franchise in Alafaya FL 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 Business Franchise in Alafaya FL 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 Business Franchise in Alafaya FL ?

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Is it better to start a painting business or buy a Painting Business Franchise in Alafaya FL ?

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BR> I do not desire you to finish up in the same placement that many franchisees discover themselves in.
There is a better means! We will certainly start with the issues of a franchise business, then we'll enter into services.

PROBLEM # 1: THE REAL COST OF A PAINTING FRANCHISE
CertaPro Painters, Five Star Painting, 360 Painting, and also WOW-1-Day Painting are a few of the larger franchise business available.
These franchises vary from $10,000-$ 40,000 in franchise business fees just for the right to the franchise in a limited number of zip codes where you can run your franchise.
They likewise take 6-9% as an ongoing aristocracy ... for life.
If you stay in business for 10 years as well as you create $5,000,000 in profits, this franchise winds up costing you upwards of $500,000. That's a steep rate to pay.
And also of course you get some assistance as well as company systems, however whatever that a franchise offers can be gotten through other opportunities for much less than $500,000.

PROBLEM # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you acquire a Painting Business Franchise in Alafaya FL you are getting the legal rights to that service in a set region. You are appointed a handful of postal code where you have the rights to business.
This is a HUGE issue. The simplest way to grow and increase a painting business is by expanding geographically. Franchises take away this.
Painter Choice is our advertising and marketing company. We collaborate with franchisees all over the country. I always really feel terrible for these company owner because they have such a tough time generating service.
A typical firm in Atlanta, as an example, can utilize our lead service in North Atlanta to create 20-30 leads per month.
A franchisee in North Atlanta that just possesses the legal rights to 7-8 zip codes can only generate 5-7 leads per month from our lead service.
In other words, if those franchisees had their very own service, they might right away boost their organisation 3-5 times! In other terms, that indicates an rise from $500,000 to $2,000,000. This is a large constraint on your possible company growth.
As a franchisee, your only alternative is to purchase even more area, or such it up and also keep your company little.
But if somebody else currently owns the nearby territory, you don't have that alternative.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Essentially, franchisees and also the franchisor have actually misaligned incentives. The franchisor wants to generate as much profits as possible due to the fact that they make money a collection percent of earnings.
As the service proprietor, your goal is to make the most of revenue.
I'm a large believer in straightening motivations, as well as in this situation, rewards are not straightened. They are playing a different video game than you are. They wish to make the most of earnings in all of their areas, as well as offer as lots of franchises as they can.

PROBLEM # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're buying a task. Let me reveal you why.
Due to nobilities, your margins finish up being around 10% -12% after all overhead.
In order to make $100k/year you would certainly need to have a $1,000,000 organisation.
You can not have a $1,000,000 company in the tiny territory. And even if you can, you're stuck at a maximum of $100,000 on your own. You're paying $70k-$ 100k/year in aristocracies for what?
That's a ridiculous amount of cash to pay your franchise business ... the very same company that has an agreement that they hold over your head not allowing you to grow your business geographically.
They've got you by the balls.
Or, you can purchase an additional region to expand. But again ... I would certainly rather not need to pay for the right to grow my organisation. That's silly.
Many franchises finish up in the $500,000-$ 600,000 array. You can most likely make $80,000-$ 110,000, sure. You likewise don't ever before have enough margin to hire other people to run the entire organisation, which is one of the greatest benefits to constructing a company.
You most likely aren't producing adequate earnings to also work with really solid employees. In our company, we pay concerning 5-6% to our production manager that looks after $1,000,000 in manufacturing. That's $50,000-$ 60,000 annually for the manager. If you are only doing $500,000 a year in earnings, you can pay 5% ($ 25,000) to your production manager, which is not adequate money for a strong staff member.
Your choices are to pay a greater percentage (killing your profit margin), or get the job done yourself ( eliminating your way of life). Both of which are not very attractive choices.
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IN SUMMARY:
You pay a whole lot of cash to restrict your development, you don't reach build your very own thing, and if you wish to expand geographically you need to pay for the rights to do so ... presuming nobody else already owns the legal rights to the area you are shopping.
As a result of your constraints, and also the high royalty cost, you are considerably limited in your ability to grow your earnings, build a strong team, and also construct a big organisation.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid service strategy
# 2-- They do it for the support and training offered by the franchise
# 3-- They do it for the area of other franchisees so they aren't alone
# 4-- They do it out of anxiety of failing
Currently, let's consider options. Exactly how can you get all the advantages without paying the high 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 company system. This is the exact organisation system we make use of and also adhere to in our company, which corrected $3,000,000 in earnings in 2016.

BENEFIT # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My course includes training as well as support. When you start with Painting Business Academy, you obtain access to the whole service system as well as 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 likewise join our personal members-only Facebook team. We have dozens of concerns asked daily from our participants.
Our community is highly engaged as well as active.
People in our neighborhood also share their successes. Simply recently somebody shared a Facebook advertising and marketing approach, word for word, that's eliminating it for their business.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more money does not remove the fear of failing. With Painting Business Academy, you can get accessibility to a solid business plan, business training, and also all of the done-for-you forms as well as systems that are shown to develop a million-dollar paint company.
You also get access to the remarkable neighborhood of like-minded entrepreneurs doing the very same point as you that we spoke about earlier. While you do pay 1/10th of the price up front (on the luxury), you have NO nobilities to pay after that.
The probability of failing coincides whether you remain in a franchise or running your own business. Nevertheless, when you get a franchise business, you are taking a bigger threat, indicating there's a larger failing if you do fall short.

SO WHAT NOW?
Prior to you spend in a franchise and toss countless dollars down the bathroom for a tried and tested system, you could want to take a look at Painting Business Academy.
Painting Business Academy is also a tested system to construct a million-dollar painting company, with a community of thousands of others. Furthermore, there is no ongoing royalty, and no geographical constraints to development.
Get all of the benefits of a Painting Business Franchise in Alafaya FL for a fraction of the price. Inspect the program out below and also contact me if you have any kind of questions.
The painting business is a excellent service to be in! I hope 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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