Don't Buy A Painting Business Franchise in Brockton MA

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Should You Buy a Painting Business Franchise in Brockton MA ?

Don't Buy a Painting Business Franchise in Brockton MA

• 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 Brockton MA
• 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
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• News By Industry
• About
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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 Brockton MA

If you are considering purchasing a painting franchise business, stop now.
I'm mosting likely to damage down the essential problems with buying a painting franchise business, as well as the alternative choices you need to begin a paint business.

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



Painting Business Franchise in Brockton MA FAQs
How much does it cost to open your own franchise?

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How much is a Five Star Painting Franchise?

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Is a Painting Business Franchise in Brockton MA a good investment?

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What are the disadvantages of a Painting Business Franchise in Brockton MA ?

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Is it better to start a painting business or buy a Painting Business Franchise in Brockton MA ?

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BR> I don't want you to wind up in the same position that several franchisees find themselves in.
There is a much better method! We will start with the problems of a franchise business, after that we'll enter options.

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 larger franchises available.
These franchises range from $10,000-$ 40,000 in franchise charges just for the right to the franchise in a minimal variety of postal code where you can run your franchise business.
They likewise take 6-9% as an continuous royalty ... for life.
If you are in organisation for 10 years as well as you produce $5,000,000 in income, this franchise business finishes up costing you upwards of $500,000. That's a high rate to pay.
And also naturally you obtain some assistance and organisation systems, yet whatever that a franchise business offers can be gotten via other avenues for a lot less than $500,000.

PROBLEM # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you purchase a Painting Business Franchise in Brockton MA you are acquiring the rights to that service in a set territory. You are designated a little number of zip codes where you have the civil liberties to business.
This is a HUGE trouble. The easiest way to expand and also increase a painting company is by broadening geographically. Franchise business take away this right.
Painter Choice is our marketing company. We function with franchisees all over the nation. I always really feel dreadful for these service owners since they have such a difficult time creating business.
A common company in Atlanta, as an example, can use our lead solution in North Atlanta to generate 20-30 leads per month.
A franchisee in North Atlanta that only possesses the rights to 7-8 zip codes can only generate 5-7 leads per month from our lead solution.
To put it simply, if those franchisees had their own service, they can instantly enhance their service 3-5 times! In various other terms, that means an rise from $500,000 to $2,000,000. This is a enormous constraint on your potential business growth.
As a franchisee, your only option is to purchase even more area, or such it up and keep your service little.
Yet if somebody else currently has the close-by area, you do not have that alternative.

PROBLEMS # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees and the franchisor have misaligned motivations. The franchisor desires to create as much profits as feasible due to the fact that they make money a set percent of revenue.
As the service proprietor, your objective is to optimize profit.
I'm a big believer in aligning motivations, and in this situation, rewards are not straightened. They are playing a different video game than you are. They want to optimize profits in all of their territories, as well as market as several franchise business as they can.

TROUBLE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're purchasing a work. Let me show you why.
Because of nobilities, your margins end up being around 10% -12% besides overhead.
In order to make $100k/year you 'd have to have a $1,000,000 business.
However you can't have a $1,000,000 business in the tiny area. As well as even if you can, you're stuck at a optimum of $100,000 for on your own. You're paying $70k-$ 100k/year in aristocracies wherefore?
That's a ludicrous quantity of money to pay your franchise ... the same business that has an agreement that they hold over your head not enabling you to expand your company geographically.
They've obtained you by the rounds.
Or, you can acquire one more area to expand. Yet once more ... I would certainly instead not have to pay for the right to expand my service. That's silly.
Many franchise business end up in the $500,000-$ 600,000 array. You can possibly make $80,000-$ 110,000, sure. You also don't ever have enough margin to hire other people to run the entire organisation, which is one of the greatest advantages to developing a firm.
You possibly aren't creating enough profits to also work with actually solid employees. In our company, we pay about 5-6% to our production manager who oversees $1,000,000 in production. That's $50,000-$ 60,000 annually for the manager. But if you are only doing $500,000 a year in income, you can pay 5% ($ 25,000) to your manufacturing supervisor, which is not nearly enough money for a solid employee.
Your alternatives are to pay a higher portion ( eliminating your profit margin), or do the task yourself ( eliminating your way of living). Both of which are not really appealing alternatives.
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IN SUMMARY:
You pay a great deal of cash to restrict your growth, you do not reach construct your very own point, and if you intend to grow geographically you need to spend for the civil liberties to do so ... assuming nobody else already owns the rights to the region you are shopping.
Due to your constraints, and also the high nobility cost, you are significantly limited in your capability to grow your revenue, develop a solid team, as well as build a huge business.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong company plan
# 2-- They do it for the support and also training provided by the franchise business
# 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
Now, let's consider solutions. Just how can you get all the benefits without paying the high price of a franchise business?

BENEFIT # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the expense of a franchise, you can acquire my organisation system. This is the specific company system we utilize and also follow in our service, which did over $3,000,000 in revenue in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My program includes training and also assistance. When you start with Painting Business Academy, you get accessibility to the whole company 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 additionally join our personal members-only Facebook team. We have lots of inquiries asked each day from our members.
Our neighborhood is very engaged and energetic.
Individuals in our area also share their successes. Just a few days ago somebody shared a Facebook advertising strategy, word for word, that's eliminating it for their organisation.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more money does not get rid of the concern of failure. With Painting Business Academy, you can get accessibility to a solid company plan, service training, and also all of the done-for-you types as well as systems that are confirmed to construct a million-dollar painting organisation.
You likewise get access to the fantastic area of similar entrepreneurs doing the same thing as you that we discussed earlier. While you do pay 1/10th of the expense up front (on the high-end), you have NO nobilities to pay after that.
The likelihood of failure is the exact same whether you remain in a franchise or running your very own service. When you buy a franchise business, you are taking a bigger threat, implying there's a larger failure if you do fail.

WHAT NOW?
Before you spend in a franchise as well as toss countless bucks down the toilet for a tried and tested system, you might wish to look into Painting Business Academy.
Painting Business Academy is likewise a tried and tested system to construct a million-dollar painting firm, with a neighborhood of numerous others. In addition, there is no continuous aristocracy, as well as no geographical constraints to growth.
Get all of the benefits of a Painting Business Franchise in Brockton MA for a portion of the cost. Check the course out here and also call me if you have any kind of questions.
The painting business is a terrific service to be in! I wish you'll belong of it soon.
Great 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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