Don't Buy A Painting Business Franchise in Baldwin Park CA

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

Should You Buy a Painting Business Franchise in Baldwin Park CA ?

Don't Buy a Painting Business Franchise in Baldwin Park CA

• 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 Baldwin Park CA
• 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 Business Franchise in Baldwin Park CA

If you are thinking of getting a paint franchise business, stop right now.
I'm mosting likely to break down the fundamental problems with buying a painting franchise business, and also the alternate choices you need to begin a painting business.

This is based upon my experience expanding a effective painting business where we considered becoming a franchise but chose a partnership setup instead. I listen to the struggles of franchisee's continuously, and also I feel for them.



Painting Business Franchise in Baldwin Park CA 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 Baldwin Park CA 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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What are the disadvantages of a Painting Business Franchise in Baldwin Park CA ?

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Is it better to start a painting business or buy a Painting Business Franchise in Baldwin Park CA ?

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BR> I don't want you to finish up in the same placement that lots of franchisees discover themselves in.
There is a far better way! We will certainly begin with the problems of a franchise, then we'll enter remedies.

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 available.
These franchise business vary from $10,000-$ 40,000 in franchise business costs simply for the right to the franchise business in a minimal variety of postal code where you can operate your franchise.
They additionally take 6-9% as an recurring nobility ... for life.
If you stay in business for 10 years and also you create $5,000,000 in income, this franchise finishes up costing you upwards of $500,000. That's a high cost to pay.
As well as certainly you obtain some assistance as well as business systems, but whatever that a franchise business provides can be acquired with various other avenues for a lot less than $500,000.

TROUBLE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you get a Painting Business Franchise in Baldwin Park CA you are purchasing the rights to that business in a set region. You are appointed a little number of zip codes where you have the legal rights to the business.
This is a HUGE trouble. The most convenient method to grow and expand a painting company is by expanding geographically. Franchises take away this.
Painter Choice is our advertising firm. We collaborate with franchisees throughout the country. I constantly really feel terrible for these company owner due to the fact that they have such a difficult time producing service.
A normal company in Atlanta, for instance, can utilize our lead solution in North Atlanta to produce 20-30 leads monthly.
Yet a franchisee in North Atlanta who only has the legal rights to 7-8 postal code can just create 5-7 leads monthly from our lead service.
Simply put, if those franchisees had their own service, they could right away increase their business 3-5 times! In other terms, that implies an increase from $500,000 to $2,000,000. This is a substantial constraint on your potential service growth.
As a franchisee, your only option is to acquire more area, or such it up as well as keep your company tiny.
But if someone else already possesses the nearby territory, you don't have that option.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees and the franchisor have misaligned motivations. The franchisor wishes to generate as much income as feasible since they obtain paid a collection percent of revenue.
As the service proprietor, your objective is to take full advantage of revenue.
I'm a huge follower in straightening incentives, and in this case, incentives are not aligned. They are playing a different game than you are. They desire to take full advantage of earnings in all of their regions, and also sell as lots of franchise business 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 royalties, your margins end up being around 10% -12% nevertheless business expenditures.
In order to make $100k/year you would certainly need to have a $1,000,000 business.
However you can't have a $1,000,000 business in the little area. And also also if you can, you're stuck at a optimum of $100,000 on your own. You're paying $70k-$ 100k/year in royalties wherefore?
That's a ridiculous amount of money to pay your franchise ... the same firm that has an contract 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 territory to grow. Again ... I 'd instead not have to pay for the right to grow my organisation. That's ridiculous.
A lot of franchise business wind up in the $500,000-$ 600,000 array. You can probably make $80,000-$ 110,000, sure. You also don't ever before have enough margin to hire various other people to run the entire organisation, which is one of the best advantages to building a company.
You possibly aren't generating adequate earnings to also employ actually strong workers. In our firm, we pay concerning 5-6% to our manufacturing manager that looks after $1,000,000 in manufacturing. That's $50,000-$ 60,000 each year for the supervisor. If you are just doing $500,000 a year in profits, you can pay 5% ($ 25,000) to your manufacturing manager, which is not enough money for a strong employee.
Your choices are to pay a greater percent ( eliminating your profit margin), or do the work on your own ( eliminating 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 restrict your growth, you don't reach develop your own thing, as well as if you desire to expand geographically you require to pay for the legal rights to do so ... assuming no one else already possesses the legal rights to the region you are attempting to buy.
Due to your restrictions, and also the high royalty fee, you are dramatically restricted in your capacity to grow your profits, develop a solid group, as well as develop a big company.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid business strategy
# 2-- They do it for the support as well as training given by the franchise
# 3-- They do it for the neighborhood of various other franchisees so they aren't alone
# 4-- They do it out of worry of failing
Currently, let's consider options. How can you get all the advantages without paying the high rate of a franchise business?

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

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My training course consists of training and also support. When you get started with Painting Business Academy, you obtain accessibility to the entire organisation system and 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 private members-only Facebook team. We have lots of concerns asked daily from our participants.
Our area is highly involved and also active.
Individuals in our area also share their successes. Simply the various other day a person shared a Facebook advertising and marketing approach, verbatim, that's killing it for their organisation.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more cash does not eliminate the fear of failure. With Painting Business Academy, you can obtain accessibility to a solid service strategy, organisation training, and all of the done-for-you types and also systems that are verified to develop a million-dollar painting company.
You additionally obtain accessibility to the incredible neighborhood of similar entrepreneurs doing the same thing as you that we chatted about previously. While you do pay 1/10th of the expense in advance (on the high-end), you have NO royalties to pay afterwards.
The probability of failing is the same whether you are in a franchise business or running your own company. Nonetheless, when you get a franchise business, you are taking a larger risk, implying there's a bigger failing if you do stop working.

WHAT NOW?
Prior to you buy a franchise business as well as throw hundreds of dollars down the toilet for a proven system, you might want to have a look at Painting Business Academy.
Painting Business Academy is also a proven system to construct a million-dollar painting company, with a neighborhood of thousands of others. On top of that, there is no ongoing nobility, as well as no geographical constraints to development.
Obtain all of the advantages of a Painting Business Franchise in Baldwin Park CA for a fraction of the price. Examine the program out right here and call me if you have any type of questions.
The paint business is a great company to be in! I hope you'll belong 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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