Don't Buy A Painting Business Franchise in Aspen Hill MD

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Should You Buy a Painting Business Franchise in Aspen Hill MD ?

Don't Buy a Painting Business Franchise in Aspen Hill MD

• 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 Aspen Hill MD
• 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 Aspen Hill MD

If you are considering purchasing a painting franchise, stop right currently.
I'm going to break down the fundamental troubles with purchasing a painting franchise, and the different choices you have to start a paint company.

This is based upon my experience expanding a successful paint company where we took into consideration ending up being a franchise business yet chose a partnership setup rather. I hear the struggles of franchisee's frequently, as well as I really feel for them.



Painting Business Franchise in Aspen Hill MD 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 Aspen Hill MD 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 Aspen Hill MD ?

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Is it better to start a painting business or buy a Painting Business Franchise in Aspen Hill MD ?

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BR> I don't desire you to finish up in the same setting that many franchisees locate themselves in.
There is a much better way! We will begin with the problems of a franchise business, after that we'll enter solutions.

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 larger franchises around.
These franchises vary from $10,000-$ 40,000 in franchise costs simply for the right to the franchise business in a minimal number of postal code where you can run your franchise business.
They also take 6-9% as an ongoing nobility ... permanently.
If you stay in business for 10 years and also you produce $5,000,000 in revenue, this franchise winds up costing you upwards of $500,000. That's a steep price to pay.
And also of program you get some assistance and business systems, but everything that a franchise business provides can be gotten with other methods for much less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you get a Painting Business Franchise in Aspen Hill MD you are buying the legal rights to that service in a established territory. You are designated a handful of postal code where you have the legal rights to the company.
This is a HUGE problem. The most convenient way to expand and broaden a paint service is by broadening geographically. Franchises take away this right.
Painter Choice is our advertising and marketing business. We function with franchisees throughout the country. I always feel horrible for these entrepreneur because they have such a tough time creating organisation.
A typical company in Atlanta, as an example, can utilize our lead solution in North Atlanta to generate 20-30 leads each month.
However a franchisee in North Atlanta who only possesses the civil liberties to 7-8 postal code can just produce 5-7 leads monthly from our lead service.
Simply put, if those franchisees had their own organisation, they could right away raise their service 3-5 times! In various other terms, that implies an rise from $500,000 to $2,000,000. This is a huge limitation on your prospective organisation growth.
As a franchisee, your only option is to purchase more region, or such it up and keep your organisation small.
But if a person else currently owns the neighboring area, you do not have that choice.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Fundamentally, franchisees as well as the franchisor have actually misaligned motivations. The franchisor intends to produce as much earnings as possible since they make money a set percent of income.
As the business proprietor, your objective is to maximize earnings.
I'm a big believer in aligning rewards, and also in this situation, motivations are not aligned. They are playing a various game than you are. They intend to make best use of revenue in all of their areas, as well as market as numerous franchise business as they can.

TROUBLE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're purchasing a work. Allow me show you why.
As a result of nobilities, your margins wind up being around 10% -12% after all company expenditures.
In order to make $100k/year you would certainly need to have a $1,000,000 organisation.
However you can't have a $1,000,000 business in the little area. And even if you can, you're stuck at a optimum of $100,000 for on your own. You're paying $70k-$ 100k/year in royalties of what?
That's a crazy quantity of cash to pay your franchise business ... the exact same company that has an agreement that they hold over your head not enabling you to expand your service geographically.
They've got you by the rounds.
Or, you can get another territory to grow. Again ... I would certainly rather not have to pay for the right to expand my company. That's ridiculous.
The majority of franchise business wind up in the $500,000-$ 600,000 variety. You can possibly make $80,000-$ 110,000, sure. You additionally do not ever before have adequate margin to work with various other people to run the entire company, which is one of the biggest benefits to developing a business.
You probably aren't generating enough revenue to even work with actually strong staff members. In our firm, we pay regarding 5-6% to our production supervisor that supervises $1,000,000 in production. That's $50,000-$ 60,000 per year for the supervisor. However if you are only doing $500,000 a year in profits, you can pay 5% ($ 25,000) to your manufacturing supervisor, which is not adequate money for a strong staff member.
Your alternatives are to pay a greater percentage ( eliminating your revenue margin), or get the job done on your own (killing your lifestyle). Both of which are not really eye-catching alternatives.
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IN SUMMARY:
You pay a great deal of money to restrict your growth, you do not obtain to build your very own point, and also if you intend to expand geographically you require to pay for the rights to do so ... presuming nobody else currently possesses the rights to the territory you are shopping.
Due to your restrictions, and the high aristocracy cost, you are dramatically limited in your capability to expand your revenue, develop a solid team, as well as develop a huge service.

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 as well as training given by the franchise
# 3-- They do it for the area of other franchisees so they aren't alone
# 4-- They do it out of worry of failing
Currently, allow's take a look at services. How can you get all the advantages without paying the steep price of a franchise business?

BENEFIT # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the expense of a franchise business, you can buy my company system. This is the specific company 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 program includes training and also support. When you get begun with Painting Business Academy, you get accessibility to the whole business 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 sign up with Painting Business Academy, you also join our private members-only Facebook group. We have loads of questions asked daily from our members.
Our area is extremely involved as well as energetic.
People in our neighborhood also share their successes. Just a few days ago a person shared a Facebook marketing technique, word for word, that's eliminating it for their company.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more money does not remove the worry of failing. With Painting Business Academy, you can obtain access to a solid business plan, organisation training, and also all of the done-for-you kinds and also systems that are verified to construct a million-dollar paint company.
You likewise obtain access to the amazing community of similar entrepreneurs doing the exact same thing as you that we discussed earlier. While you do pay 1/10th of the cost in advance (on the luxury), you have NO aristocracies to pay afterwards.
The likelihood of failure is the same whether you remain in a franchise business or running your own service. When you acquire a franchise business, you are taking a bigger danger, suggesting there's a bigger failing if you do stop working.

SO WHAT NOW?
Before you purchase a franchise and throw countless bucks down the commode for a tried and tested system, you may intend to have a look at Painting Business Academy.
Painting Business Academy is additionally a proven system to construct a million-dollar painting business, with a neighborhood of numerous others. Furthermore, there is no continuous aristocracy, and no geographical limitations to development.
Get every one of the advantages of a Painting Business Franchise in Aspen Hill MD for a portion of the price. Examine the program out here as well as contact me if you have any type of inquiries.
The painting business is a wonderful service to be in! I hope 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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