Don't Buy A Painting Business Franchise in Cape Coral FL

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Should You Buy a Painting Business Franchise in Cape Coral FL ?

Don't Buy a Painting Business Franchise in Cape Coral FL

• 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 Cape Coral FL
• 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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• 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 Cape Coral FL

If you are assuming of buying a paint franchise business, stop now.
I'm mosting likely to break down the fundamental problems with getting a painting franchise, as well as the alternate options you have to start a paint business.

This is based upon my experience growing a successful painting organisation where we thought about coming to be a franchise business but chose a collaboration configuration instead. I listen to the battles of franchisee's frequently, as well as I really feel for them.



Painting Business Franchise in Cape Coral FL 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 Cape Coral FL 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 Cape Coral FL ?

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Is it better to start a painting business or buy a Painting Business Franchise in Cape Coral FL ?

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BR> I do not desire you to finish up in the same position that many franchisees discover themselves in.
There is a better way! We will certainly begin with the troubles of a franchise, after that we'll obtain into solutions.

PROBLEM # 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 out there.
These franchise business range from $10,000-$ 40,000 in franchise fees just for the right to the franchise in a restricted number of zip codes where you can run your franchise.
They additionally take 6-9% as an continuous royalty ... for life.
If you are in service for 10 years as well as you produce $5,000,000 in profits, this franchise business ends up costing you upwards of $500,000. That's a steep rate to pay.
And also obviously you get some assistance and business systems, but whatever that a franchise business supplies can be obtained with other opportunities for much less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you purchase a Painting Business Franchise in Cape Coral FL you are purchasing the rights to that company in a established region. You are designated a small number of postal code where you have the rights to the organisation.
This is a HUGE issue. The easiest way to grow as well as expand a paint company is by increasing geographically. Franchise business take away this.
Painter Choice is our advertising business. We collaborate with franchisees throughout the country. I constantly really feel terrible for these entrepreneur because they have such a tough time creating company.
A common firm in Atlanta, for example, can use our lead solution in North Atlanta to produce 20-30 leads monthly.
A franchisee in North Atlanta that just possesses the legal rights to 7-8 zip codes can just produce 5-7 leads per month from our lead solution.
In other words, if those franchisees had their very own service, they might promptly raise their business 3-5 times! In other terms, that implies an rise from $500,000 to $2,000,000. This is a huge limitation on your potential service growth.
As a franchisee, your only choice is to acquire even more territory, or such it up as well as keep your business little.
But if somebody else already has the neighboring territory, you don't have that choice.

TROUBLES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Fundamentally, franchisees and the franchisor have misaligned rewards. The franchisor intends to generate as much profits as feasible due to the fact that they earn money a set percent of income.
As the business owner, your objective is to maximize earnings.
I'm a big believer in aligning rewards, and in this instance, incentives are not straightened. They are playing a various video game than you are. They want to take full advantage of income in all of their territories, and offer as lots of franchise business as they can.

ISSUE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're getting a job. Allow me reveal you why.
Due to nobilities, your margins finish up being around 10% -12% nevertheless business expenditures.
In order to make $100k/year you 'd need to have a $1,000,000 service.
You can not have a $1,000,000 organisation in the little territory. And also even if you can, you're stuck at a optimum of $100,000 for yourself. You're paying $70k-$ 100k/year in royalties for what?
That's a ludicrous quantity of money to pay your franchise ... the same firm that has an arrangement that they hold over your head not permitting you to grow your company geographically.
They've got you by the balls.
Or, you can purchase another area to grow. Yet again ... I 'd rather not have to spend for the right to grow my organisation. That's unreasonable.
A lot of franchises end up in the $500,000-$ 600,000 range. You can probably make $80,000-$ 110,000, sure. However you additionally do not ever before have adequate margin to hire other individuals to run the entire company, which is just one of the best advantages to building a business.
You most likely aren't creating sufficient income to even employ actually strong workers. In our business, we pay about 5-6% to our manufacturing supervisor that oversees $1,000,000 in production. That's $50,000-$ 60,000 per year for the supervisor. Yet if you are only doing $500,000 a year in revenue, you can pay 5% ($ 25,000) to your manufacturing supervisor, which is insufficient cash for a strong staff member.
Your alternatives are to pay a higher portion (killing your revenue margin), or do the work on your own ( eliminating your lifestyle). Both of which are not really appealing choices.
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IN SUMMARY:
You pay a great deal of cash to restrict your development, you don't reach construct your very own thing, and if you desire to grow geographically you require to pay for the rights to do so ... thinking nobody else already has the civil liberties to the territory you are trying to buy.
As a result of your restrictions, and the high aristocracy charge, you are substantially restricted in your capacity to grow your profits, develop a solid group, and build a large service.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid company strategy
# 2-- They do it for the assistance as well as training provided by the franchise
# 3-- They do it for the community of various other franchisees so they aren't alone
# 4-- They do it out of anxiety of failure
Currently, let's consider options. Exactly how can you obtain all the benefits without paying the steep price 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 purchase my company system. This is the exact organisation system we utilize as well as adhere to in our business, which corrected $3,000,000 in income in 2016.

BENEFIT # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My program consists of training as well as assistance. When you start with Painting Business Academy, you get accessibility to the whole service system and also 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 likewise join our private members-only Facebook team. We have lots of concerns asked every day from our participants.
Our area is extremely involved as well as energetic.
Individuals in our area even share their successes. Just a few days ago someone shared a Facebook advertising and marketing technique, verbatim, that's eliminating it for their service.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more cash does not eliminate the worry of failing. With Painting Business Academy, you can get accessibility to a strong organisation plan, organisation training, and also all of the done-for-you types and systems that are proven to build a million-dollar painting service.
You additionally obtain accessibility to the impressive area of like-minded business owners doing the exact same point as you that we discussed earlier. While you do pay 1/10th of the price up front (on the high-end), you have NO royalties to pay after that.
The possibility of failure coincides whether you remain in a franchise or running your very own business. When you buy a franchise, you are taking a larger threat, suggesting there's a larger failing if you do fail.

WHAT NOW?
Prior to you invest in a franchise as well as toss thousands of bucks down the bathroom for a tested system, you might desire to have a look at Painting Business Academy.
Painting Business Academy is additionally a tested system to build a million-dollar paint business, with a community of thousands of others. Additionally, there is no recurring aristocracy, as well as no geographical limitations to growth.
Obtain all of the benefits of a Painting Business Franchise in Cape Coral FL for a portion of the cost. Check the course out right here and call me if you have any concerns.
The paint business is a terrific service to be in! I hope you'll be a part 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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