Don't Buy A Painting Business Franchise in Amarillo TX

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Should You Buy a Painting Business Franchise in Amarillo TX ?

Don't Buy a Painting Business Franchise in Amarillo TX

• 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 Amarillo TX
• 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 Amarillo TX

If you are considering buying a paint franchise business, quit right currently.
I'm going to break down the essential issues with getting a painting franchise, and also the different choices you need to begin a paint business.

This is based upon my experience growing a effective paint organisation where we thought about coming to be a franchise however went with a collaboration arrangement rather. I listen to the battles of franchisee's constantly, and also I really feel for them.



Painting Business Franchise in Amarillo TX 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 Amarillo TX 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 Amarillo TX ?

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Is it better to start a painting business or buy a Painting Business Franchise in Amarillo TX ?

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BR> I do not want you to wind up in the very same placement that numerous franchisees locate themselves in.
There is a far better means! We will certainly begin with the issues of a franchise business, after that we'll get into solutions.

TROUBLE # 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 bigger franchises available.
These franchises range from $10,000-$ 40,000 in franchise charges simply for the right to the franchise business in a minimal variety of zip codes where you can operate your franchise.
They additionally take 6-9% as an ongoing royalty ... forever.
If you are in business for 10 years and also you generate $5,000,000 in revenue, this franchise business winds up costing you upwards of $500,000. That's a high price to pay.
As well as certainly you get some support and also service systems, but every little thing that a franchise business gives can be acquired 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 Business Franchise in Amarillo TX you are purchasing the rights to that organisation in a established region. You are appointed a handful of zip codes where you have the civil liberties to business.
This is a HUGE issue. The most convenient method to grow and broaden a paint business is by expanding geographically. Franchises take away this.
Painter Choice is our advertising and marketing firm. We deal with franchisees all over the nation. I always really feel terrible for these local business owner due to the fact that they have such a tough time generating service.
A regular company in Atlanta, as an example, can use our lead solution in North Atlanta to produce 20-30 leads per month.
Yet a franchisee in North Atlanta who only has the civil liberties to 7-8 zip codes can only produce 5-7 leads monthly from our lead service.
To put it simply, if those franchisees had their own service, they might quickly boost their organisation 3-5 times! In various other terms, that means an rise from $500,000 to $2,000,000. This is a huge restriction on your possible organisation development.
As a franchisee, your only choice is to acquire even more region, or such it up and maintain your business little.
If someone else already possesses the neighboring territory, you don't have that option.

PROBLEMS # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Fundamentally, franchisees and also the franchisor have misaligned rewards. The franchisor wishes to produce as much income as feasible due to the fact that they get paid a set percent of revenue.
As the business owner, your objective is to take full advantage of earnings.
I'm a huge follower in aligning rewards, and in this instance, motivations are not lined up. They are playing a different video game than you are. They intend to optimize revenue in all of their territories, and also market as several franchises as they can.

TROUBLE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're purchasing a job. Allow me reveal you why.
As a result of aristocracies, your margins finish up being around 10% -12% besides company costs.
In order to make $100k/year you 'd need to have a $1,000,000 company.
You can't have a $1,000,000 service in the small area. As well as also if you can, you're stuck at a optimum of $100,000 on your own. You're paying $70k-$ 100k/year in nobilities of what?
That's a ludicrous amount of money to pay your franchise ... the very same firm that has an arrangement that they hold over your head not enabling you to expand your company geographically.
They've got you by the rounds.
Or, you can purchase one more area to expand. Yet once again ... I would certainly instead not have to spend for the right to expand my business. That's ridiculous.
Most franchise business finish up in the $500,000-$ 600,000 range. You can possibly make $80,000-$ 110,000, sure. You likewise do not ever have adequate margin to hire various other people to run the whole company, which is one of the biggest benefits to building a firm.
You possibly aren't creating sufficient revenue to also employ actually solid employees. In our business, we pay concerning 5-6% to our manufacturing manager that manages $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 manager, which is not adequate cash for a solid employee.
Your options are to pay a greater percentage ( eliminating your profit margin), or get the job done yourself ( eliminating your way of living). Both of which are not extremely attractive options.
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IN SUMMARY:
You pay a great deal of cash to restrict your development, you don't reach develop your own point, as well as if you wish to expand geographically you need to spend for the civil liberties to do so ... assuming no one else currently possesses the civil liberties to the area you are trying to acquire.
As a result of your limitations, and also the high royalty charge, you are substantially limited in your capacity to grow your income, construct a strong team, and also develop a huge 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 as well as training offered 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 worry of failing
Now, let's consider services. How can you get all the advantages without paying the steep rate of a franchise?

BENEFIT # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the expense of a franchise, you can buy my service system. This is the precise company system we utilize as well as follow in our service, which corrected $3,000,000 in income in 2016.

BENEFIT # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My course includes training as well as assistance. When you obtain begun with Painting Business Academy, you obtain access to the entire company system and all of the training that accompanies 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 private members-only Facebook team. We have lots of questions asked everyday from our members.
Our area is very engaged and active.
Individuals in our community even share their successes. Just the other day a person shared a Facebook advertising technique, word for word, that's killing it for their service.

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 accessibility to a strong organisation plan, service training, and all of the done-for-you kinds and systems that are confirmed to construct a million-dollar painting company.
You additionally get accessibility to the fantastic area of like-minded entrepreneurs doing the same thing as you that we talked around earlier. While you do pay 1/10th of the price up front (on the high-end), you have NO aristocracies to pay afterwards.
The chance of failure coincides whether you remain in a franchise business or running your very own service. However, when you get a franchise business, you are taking a larger danger, indicating there's a larger failure if you do stop working.

WHAT NOW?
Prior to you buy a franchise and also toss thousands of dollars down the bathroom for a tested system, you might desire to have a look at Painting Business Academy.
Painting Business Academy is likewise a tried and tested system to build a million-dollar painting company, with a area of numerous others. Additionally, there is no ongoing royalty, and no geographical limitations to growth.
Obtain all of the benefits of a Painting Business Franchise in Amarillo TX for a fraction of the rate. Examine the training course out here and contact me if you have any type of questions.
The paint business is a great business to be in! I wish you'll be a part of it soon.
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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