Don't Buy A Painting Business Franchise in Arlington TX

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

Should You Buy a Painting Business Franchise in Arlington TX ?

Don't Buy a Painting Business Franchise in Arlington 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 Arlington 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
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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 Business Franchise in Arlington TX

If you are considering purchasing a painting franchise business, stop today.
I'm going to break down the basic problems with purchasing a paint franchise business, as well as the alternative choices you have to start a painting company.

This is based on my experience growing a effective painting business where we thought about ending up being a franchise business however went with a collaboration setup rather. I hear the battles of franchisee's frequently, and I really feel for them.



Painting Business Franchise in Arlington 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 Arlington 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 Arlington TX ?

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

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BR> I do not desire you to end up in the very same position that several franchisees discover themselves in.
There is a better way! We will certainly begin with the troubles of a franchise business, after that we'll enter services.

ISSUE # 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 out there.
These franchises vary from $10,000-$ 40,000 in franchise business charges just for the right to the franchise business in a minimal number of postal code where you can operate your franchise.
They also take 6-9% as an recurring royalty ... permanently.
If you stay in business for 10 years and you produce $5,000,000 in earnings, this franchise business finishes up costing you upwards of $500,000. That's a steep cost to pay.
And also naturally you get some support and company systems, yet whatever that a franchise gives can be acquired via other opportunities for much less than $500,000.

TROUBLE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you purchase a Painting Business Franchise in Arlington TX you are purchasing the rights to that company in a set region. You are assigned a little number of zip codes where you have the legal rights to business.
This is a HUGE problem. The easiest means to expand and expand a paint company is by expanding geographically. Franchises take away this.
Painter Choice is our marketing firm. We deal with franchisees all over the nation. I always really feel dreadful for these business owners because they have such a difficult time generating organisation.
A regular business in Atlanta, as an example, can use our lead service in North Atlanta to produce 20-30 leads per month.
A franchisee in North Atlanta that only possesses the civil liberties to 7-8 zip codes can just create 5-7 leads per month from our lead solution.
Simply put, if those franchisees had their own business, they might immediately increase their company 3-5 times! In various other terms, that implies an rise from $500,000 to $2,000,000. This is a substantial constraint on your prospective company growth.
As a franchisee, your only option is to buy more territory, or such it up and also maintain your service little.
However if somebody else already possesses the neighboring area, you do not have that alternative.

TROUBLES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Essentially, franchisees and the franchisor have actually misaligned motivations. The franchisor intends to produce as much income as possible because they get paid a set percent of profits.
As the company proprietor, your objective is to maximize earnings.
I'm a huge believer in lining up rewards, and also in this instance, incentives are not aligned. They are playing a various video game than you are. They desire to optimize profits in all of their regions, and offer as numerous franchises as they can.

TROUBLE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're getting a job. Let me reveal you why.
Due to royalties, your margins end up being around 10% -12% besides business costs.
In order to make $100k/year you would certainly have to have a $1,000,000 service.
You can not have a $1,000,000 service in the tiny territory. And also also if you can, you're stuck at a optimum of $100,000 for on your own. You're paying $70k-$ 100k/year in aristocracies for what?
That's a ridiculous quantity of cash to pay your franchise ... the exact same company that has an agreement that they hold over your head not allowing you to grow your organisation geographically.
They've got you by the balls.
Or, you can purchase another area to grow. Once more ... I 'd instead not have to pay for the right to expand my service. That's unreasonable.
Most franchises finish up in the $500,000-$ 600,000 array. You can probably make $80,000-$ 110,000, sure. But you additionally don't ever before have enough margin to work with other individuals to run the entire business, which is among the best benefits to developing a company.
You probably aren't creating sufficient earnings to also hire truly strong employees. In our company, we pay about 5-6% to our production supervisor that oversees $1,000,000 in production. That's $50,000-$ 60,000 each year for the manager. If you are just doing $500,000 a year in profits, you can pay 5% ($ 25,000) to your production supervisor, which is not adequate cash for a strong employee.
Your choices are to pay a greater percent ( eliminating your revenue margin), or do the job on your own (killing your lifestyle). Both of which are not very eye-catching alternatives.
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IN SUMMARY:
You pay a whole lot of money to limit your development, you do not reach construct your own thing, and also if you intend to expand geographically you need to pay for the rights to do so ... thinking no one else currently has the rights to the region you are attempting to purchase.
Due to your restrictions, and also the high royalty fee, you are dramatically limited in your ability to expand your profits, build a strong team, and also build a big company.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong organisation strategy
# 2-- They do it for the support and training provided 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 failing
Now, let's check out options. How can you get all the benefits without paying the steep price of a franchise?

ADVANTAGE # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the expense of a franchise, you can purchase my organisation system. This is the precise service system we use and comply with 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 includes training as well as assistance. When you obtain started with Painting Business Academy, you get access to the entire service system as well as all of the training that supports that system.

BENEFIT # 3: THEY DO IT FOR THE COMMUNITY SO THEY AREN'T ALONE
When you join Painting Business Academy, you also join our personal members-only Facebook team. We have dozens of concerns asked daily from our participants.
Our area is highly involved and also active.
People in our community also share their successes. Simply a few days ago a person shared a Facebook advertising and marketing approach, word for word, that's eliminating it for their organisation.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more cash does not remove the concern of failing. With Painting Business Academy, you can get access to a solid company plan, service training, and all of the done-for-you kinds and systems that are proven to build a million-dollar painting company.
You additionally obtain accessibility to the outstanding area of like-minded entrepreneurs doing the very same thing as you that we spoke about previously. While you do pay 1/10th of the cost in advance (on the high end), you have NO royalties to pay after that.
The possibility of failing is the same whether you are in a franchise business or running your very own service. Nonetheless, when you get a franchise, you are taking a larger threat, implying there's a bigger failing if you do fall short.

SO WHAT NOW?
Before you purchase a franchise and toss hundreds of dollars down the bathroom for a tried and tested system, you may wish to check out Painting Business Academy.
Painting Business Academy is likewise a tried and tested system to develop a million-dollar painting business, with a community of numerous others. Additionally, there is no ongoing nobility, as well as no geographical constraints to development.
Obtain every one of the benefits of a Painting Business Franchise in Arlington TX for a portion of the cost. Check the course out right here and also contact me if you have any type of concerns.
The paint business is a great company to be in! I hope you'll belong 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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