Don't Buy A Painting Business Franchise in Burbank CA

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Should You Buy a Painting Business Franchise in Burbank CA ?

Don't Buy a Painting Business Franchise in Burbank 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 Burbank 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
• 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 Burbank CA

If you are considering purchasing a paint franchise business, stop right now.
I'm going to damage down the basic problems with buying a paint franchise business, and the alternative choices you have to start a paint company.

This is based on my experience growing a effective paint company where we took into consideration ending up being a franchise yet went with a partnership configuration instead. I listen to the struggles of franchisee's constantly, as well as I really feel for them.



Painting Business Franchise in Burbank 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 Burbank 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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How do I market my painting business?

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

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

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BR> I don't want you to finish up in the very same placement that lots of franchisees discover themselves in.
There is a better way! We will certainly start with the issues of a franchise, after that we'll obtain into services.

ISSUE # 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 around.
These franchises vary from $10,000-$ 40,000 in franchise business charges simply for the right to the franchise in a restricted variety of postal code where you can run your franchise business.
They additionally take 6-9% as an ongoing royalty ... permanently.
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 price to pay.
And also of course you get some assistance and company systems, yet everything that a franchise business provides can be obtained via other methods for a lot less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you buy a Painting Business Franchise in Burbank CA you are getting the legal rights to that service in a established area. You are appointed a handful of postal code where you have the civil liberties to the business.
This is a HUGE trouble. The easiest method to grow and also increase a paint service is by increasing geographically. Franchise business remove this right.
Painter Choice is our advertising and marketing company. We work with franchisees throughout the country. I always feel awful for these company owner since they have such a tough time creating business.
A typical firm in Atlanta, as an example, can use our lead service in North Atlanta to generate 20-30 leads monthly.
Yet a franchisee in North Atlanta who just owns 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 business, they can right away increase their business 3-5 times! In various other terms, that suggests an boost from $500,000 to $2,000,000. This is a enormous constraint on your potential company development.
As a franchisee, your only alternative is to buy even more territory, or such it up and also maintain your service tiny.
However if a person else currently possesses the close-by region, you don't have that option.

PROBLEMS # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Fundamentally, franchisees as well as the franchisor have actually misaligned incentives. The franchisor wishes to generate as much earnings as feasible because they obtain paid a collection percent of revenue.
However as the service proprietor, your objective is to make the most of earnings.
I'm a large follower in aligning incentives, as well as in this instance, rewards are not straightened. They are playing a different video game than you are. They intend to make the most of earnings in all of their territories, as well as market as several franchises as they can.

PROBLEM # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're getting a work. Allow me reveal you why.
Due to the fact that of aristocracies, your margins finish up being around 10% -12% besides business expenditures.
In order to make $100k/year you 'd have to have a $1,000,000 organisation.
Yet you can not have a $1,000,000 business in the little territory. As well as even if you can, you're stuck at a maximum of $100,000 on your own. You're paying $70k-$ 100k/year in royalties wherefore?
That's a crazy amount of cash to pay your franchise business ... the same business that has an agreement that they hold over your head not allowing you to grow your business geographically.
They've got you by the spheres.
Or, you can acquire another territory to expand. But once again ... I would certainly instead not have to spend for the right to grow my organisation. That's unreasonable.
A lot of franchise business wind up in the $500,000-$ 600,000 array. You can possibly make $80,000-$ 110,000, sure. You likewise don't ever before have adequate margin to employ other individuals to run the whole service, which is one of the greatest benefits to building a company.
You most likely aren't producing adequate earnings to even work with actually strong workers. In our company, we pay concerning 5-6% to our production supervisor that manages $1,000,000 in production. That's $50,000-$ 60,000 each year for the supervisor. But if you are only doing $500,000 a year in revenue, you can pay 5% ($ 25,000) to your manufacturing supervisor, which is inadequate cash for a strong employee.
Your options are to pay a greater percentage (killing your earnings margin), or get the job done yourself (killing your lifestyle). Both of which are not very eye-catching choices.
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IN SUMMARY:
You pay a great deal of cash to limit your growth, you do not get to develop your very own thing, as well as if you want to expand geographically you require to pay for the civil liberties to do so ... thinking nobody else already owns the legal rights to the territory you are trying to purchase.
As a result of your constraints, as well as the high aristocracy fee, you are dramatically limited in your ability to grow your earnings, construct a strong group, as well as develop a big service.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong service plan
# 2-- They do it for the assistance as well as training provided by the franchise
# 3-- They do it for the community of other franchisees so they aren't alone
# 4-- They do it out of fear of failure
Currently, allow's take a look at options. How can you obtain all the benefits without paying the steep cost of a franchise business?

ADVANTAGE # 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 precise business system we utilize and comply with in our company, which did over $3,000,000 in income in 2016.

BENEFIT # 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 access to the entire business system as well as all of the training that goes along with that system.

ADVANTAGE # 3: THEY DO IT FOR THE COMMUNITY SO THEY AREN'T ALONE
When you join Painting Business Academy, you additionally join our exclusive members-only Facebook group. We have lots of concerns asked every day from our members.
Our neighborhood is extremely involved as well as active.
People in our neighborhood even share their successes. Simply a few days ago somebody shared a Facebook advertising approach, verbatim, that's eliminating it for their organisation.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more money does not remove the fear of failure. With Painting Business Academy, you can get access to a solid business plan, organisation training, as well as all of the done-for-you types and also systems that are confirmed to construct a million-dollar painting organisation.
You also obtain accessibility to the impressive neighborhood of like-minded business owners doing the very same thing as you that we talked around previously. While you do pay 1/10th of the price up front (on the high end), you have NO aristocracies to pay after that.
The likelihood of failing is the same whether you are in a franchise or running your own service. However, when you purchase a franchise business, you are taking a bigger risk, suggesting there's a bigger failure if you do fail.

SO WHAT NOW?
Before you purchase a franchise and toss hundreds of dollars down the toilet for a tried and tested system, you might intend to look into Painting Business Academy.
Painting Business Academy is additionally a proven system to construct a million-dollar paint firm, with a community of numerous others. In addition, there is no recurring aristocracy, and also no geographical limitations to growth.
Obtain every one of the advantages of a Painting Business Franchise in Burbank CA for a fraction of the price. Examine the training course out here and also call me if you have any kind of questions.
The paint business is a excellent service to be in! I hope you'll be a component of it soon.
Good good 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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