Don't Buy A Painting Business Franchise in Clarksville TN

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Should You Buy a Painting Business Franchise in Clarksville TN ?

Don't Buy a Painting Business Franchise in Clarksville TN

• 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 Clarksville TN
• 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 Clarksville TN

If you are thinking about getting a paint franchise business, quit today.
I'm mosting likely to damage down the basic issues with buying a paint franchise, as well as the alternate choices you need to begin a painting business.

This is based upon my experience growing a effective paint organisation where we considered becoming a franchise business but selected a collaboration arrangement rather. I hear the struggles of franchisee's frequently, and also I really feel for them.



Painting Business Franchise in Clarksville TN 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 Clarksville TN 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 Clarksville TN ?

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Is it better to start a painting business or buy a Painting Business Franchise in Clarksville TN ?

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BR> I do not want you to wind up in the exact same position that lots of franchisees locate themselves in.
There is a better means! We will certainly begin with the issues of a franchise, after that we'll enter into options.

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 franchise business available.
These franchises range from $10,000-$ 40,000 in franchise fees simply for the right to the franchise in a restricted variety of zip codes where you can run your franchise business.
They additionally take 6-9% as an recurring nobility ... for life.
If you are in organisation for 10 years and also you create $5,000,000 in income, this franchise winds up costing you upwards of $500,000. That's a steep rate to pay.
As well as naturally you get some assistance and also company systems, yet everything that a franchise supplies can be gotten through other avenues for a lot less than $500,000.

TROUBLE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you buy a Painting Business Franchise in Clarksville TN you are getting the rights to that business in a set territory. You are assigned a handful of postal code where you have the legal rights to business.
This is a HUGE problem. The easiest means to grow and also increase a paint business is by expanding geographically. Franchise business remove this right.
Painter Choice is our advertising and marketing business. We function with franchisees all over the nation. I always feel awful for these organisation owners due to the fact that they have such a hard time producing service.
A normal firm in Atlanta, for instance, can use our lead solution in North Atlanta to generate 20-30 leads monthly.
However a franchisee in North Atlanta who just has the legal rights to 7-8 zip codes can only produce 5-7 leads per month from our lead solution.
To put it simply, if those franchisees had their very own business, they can immediately increase their organisation 3-5 times! In other terms, that indicates an increase from $500,000 to $2,000,000. This is a huge constraint on your prospective service development.
As a franchisee, your only option is to buy even more territory, or such it up as well as keep your company small.
Yet if another person currently possesses the nearby area, you do not have that choice.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees as well as the franchisor have misaligned incentives. The franchisor wants to generate as much revenue as feasible since they make money a collection percent of earnings.
As the organisation proprietor, your objective is to make best use of earnings.
I'm a large follower in lining up incentives, as well as in this case, rewards are not lined up. They are playing a different game than you are. They wish to optimize income in all of their regions, and offer as many franchise business as they can.

TROUBLE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're buying a job. Let me show you why.
As a result of nobilities, your margins finish up being around 10% -12% besides business expenditures.
In order to make $100k/year you would certainly have to have a $1,000,000 service.
Yet you can't have a $1,000,000 service in the small territory. And also also if you can, you're stuck at a maximum of $100,000 for yourself. You're paying $70k-$ 100k/year in nobilities for what?
That's a crazy amount of money to pay your franchise ... the exact same business that has an contract that they hold over your head not permitting you to grow your organisation geographically.
They've got you by the balls.
Or, you can acquire an additional area to expand. Once again ... I would certainly rather not have to pay for the right to expand my company. That's absurd.
The majority of franchises finish up in the $500,000-$ 600,000 array. You can possibly make $80,000-$ 110,000, sure. But you also do not ever before have enough margin to hire other individuals to run the entire service, which is among the biggest benefits to constructing a firm.
You most likely aren't creating adequate profits to even hire really strong employees. In our company, we pay about 5-6% to our manufacturing manager that manages $1,000,000 in production. That's $50,000-$ 60,000 annually for the supervisor. 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 cash for a solid staff member.
Your options are to pay a greater percent (killing your earnings margin), or do the job yourself ( eliminating your way of living). Both of which are not very attractive choices.
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IN SUMMARY:
You pay a great deal of cash to limit your growth, you do not obtain to build your very own point, and also if you want to expand geographically you require to spend for the rights to do so ... thinking no one else already possesses the rights to the region you are trying to get.
As a result of your restrictions, as well as the high royalty cost, you are substantially restricted in your capacity to grow your earnings, build a solid team, and construct a huge organisation.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong company strategy
# 2-- They do it for the support as well as training offered by the franchise business
# 3-- They do it for the community of various other franchisees so they aren't alone
# 4-- They do it out of anxiety of failing
Currently, allow's check out options. Exactly how can you obtain all the benefits 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 acquire my business system. This is the precise company system we use and follow in our business, 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 assistance. When you obtain started with Painting Business Academy, you obtain accessibility to the entire business system and also all of the training that supports that system.

BENEFIT # 3: THEY DO IT FOR THE COMMUNITY SO THEY AREN'T ALONE
When you join Painting Business Academy, you also join our exclusive members-only Facebook team. We have dozens of inquiries asked on a daily basis from our members.
Our community is very engaged as well as active.
Individuals in our community even share their successes. Simply recently a person shared a Facebook marketing approach, verbatim, that's eliminating it for their business.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more money does not remove the fear of failing. With Painting Business Academy, you can obtain accessibility to a solid organisation plan, company training, and also all of the done-for-you kinds and systems that are proven to construct a million-dollar paint organisation.
You additionally get access to the remarkable area of like-minded entrepreneurs doing the exact same thing as you that we spoke about previously. While you do pay 1/10th of the price up front (on the high end), you have NO aristocracies to pay afterwards.
The likelihood of failing is the exact same whether you remain in a franchise or running your own business. Nevertheless, when you get a franchise business, you are taking a bigger risk, suggesting there's a bigger failure if you do fail.

SO WHAT NOW?
Before you buy a franchise business as well as throw countless dollars down the bathroom for a tried and tested system, you could intend to take a look at Painting Business Academy.
Painting Business Academy is likewise a tested system to construct a million-dollar painting business, with a neighborhood of numerous others. Furthermore, there is no ongoing nobility, and also no geographical constraints to development.
Obtain every one of the benefits of a Painting Business Franchise in Clarksville TN for a portion of the price. Inspect the training course out below and contact 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 quickly.
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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