Don't Buy A Painting Business Franchise in Columbia MD

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

Should You Buy a Painting Business Franchise in Columbia MD ?

Don't Buy a Painting Business Franchise in Columbia MD

• 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 Columbia MD
• 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 Columbia MD

If you are thinking about acquiring a painting franchise, quit today.
I'm mosting likely to damage down the fundamental issues with acquiring a paint franchise, and also the alternative options you need to begin a painting company.

This is based on my experience growing a successful painting business where we took into consideration ending up being a franchise yet decided for a partnership setup rather. I hear the battles of franchisee's frequently, as well as I really feel for them.



Painting Business Franchise in Columbia MD 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 a Painting Business Franchise in Columbia MD 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 Columbia MD ?

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Is it better to start a painting business or buy a Painting Business Franchise in Columbia MD ?

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BR> I do not desire you to wind up in the same placement that lots of franchisees locate themselves in.
There is a better method! We will certainly begin with the issues of a franchise business, then we'll get involved in options.

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 franchise business around.
These franchises vary from $10,000-$ 40,000 in franchise business costs just for the right to the franchise in a minimal variety of zip codes where you can run your franchise business.
They likewise take 6-9% as an continuous nobility ... for life.
If you stay in business for 10 years and you generate $5,000,000 in profits, this franchise business finishes up costing you upwards of $500,000. That's a steep price to pay.
And also naturally you obtain some support and business systems, yet every little thing that a franchise business provides can be acquired with various other avenues for much less than $500,000.

TROUBLE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you purchase a Painting Business Franchise in Columbia MD you are buying the rights to that service in a set region. You are appointed a handful of zip codes where you have the civil liberties to the business.
This is a HUGE issue. The easiest way to expand as well as expand a painting business is by broadening geographically. Franchise business take away this.
Painter Choice is our advertising business. We function with franchisees around the nation. I always feel terrible for these company owner because they have such a difficult time creating organisation.
A common business in Atlanta, as an example, can utilize our lead service in North Atlanta to generate 20-30 leads per month.
But a franchisee in North Atlanta that just possesses the legal rights to 7-8 zip codes can only generate 5-7 leads each month from our lead service.
Simply put, if those franchisees had their own business, 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 enormous restriction on your prospective organisation growth.
As a franchisee, your only option is to purchase more area, or such it up and also keep your service tiny.
If someone else currently owns the close-by area, you do not have that alternative.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Essentially, franchisees as well as the franchisor have actually misaligned incentives. The franchisor intends to produce as much earnings as feasible due to the fact that they make money a collection percent of income.
As the service proprietor, your objective is to make the most of earnings.
I'm a huge follower in straightening rewards, as well as in this situation, rewards are not aligned. They are playing a various game than you are. They want to optimize profits in all of their regions, as well as sell as several franchises as they can.

TROUBLE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're purchasing a task. Allow me reveal you why.
Due to aristocracies, your margins end up being around 10% -12% nevertheless company expenses.
In order to make $100k/year you 'd need to have a $1,000,000 service.
Yet you can't have a $1,000,000 business in the little area. As well as even if you can, you're stuck at a optimum of $100,000 for yourself. You're paying $70k-$ 100k/year in nobilities for what?
That's a crazy quantity of cash 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 buy an additional region to expand. But again ... I would certainly instead not need to pay for the right to grow my organisation. That's silly.
The majority of franchises end up in the $500,000-$ 600,000 range. You can most likely make $80,000-$ 110,000, sure. You likewise do not ever have enough margin to work with other individuals to run the entire company, which is one of the greatest advantages to developing a company.
You most likely aren't generating enough revenue to also hire actually solid employees. In our firm, we pay about 5-6% to our manufacturing supervisor that looks after $1,000,000 in production. That's $50,000-$ 60,000 annually for the supervisor. However if you are only doing $500,000 a year in profits, you can pay 5% ($ 25,000) to your production supervisor, which is not adequate money for a solid worker.
Your options are to pay a higher percent ( eliminating your revenue margin), or do the job on your own ( eliminating your way of life). Both of which are not extremely eye-catching alternatives.
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IN SUMMARY:
You pay a great deal of money to restrict your development, you do not get to build your own thing, and if you wish to expand geographically you need to pay for the rights to do so ... assuming no one else currently has the civil liberties to the area you are trying to acquire.
Due to your restrictions, and the high royalty fee, you are substantially limited in your capability to grow your profits, build a strong team, as well as develop a big company.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid service strategy
# 2-- They do it for the support and 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 worry of failing
Currently, allow's check out options. Exactly how can you obtain all the benefits without paying the steep price of a franchise?

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

BENEFIT # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My course includes training and support. When you get going with Painting Business Academy, you obtain access to the entire company system and 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 join Painting Business Academy, you likewise join our private members-only Facebook group. We have loads of concerns asked on a daily basis from our participants.
Our area is extremely involved as well as active.
Individuals in our neighborhood also share their successes. Simply the other day a person shared a Facebook marketing technique, word for word, that's killing it for their business.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more money does not eliminate the anxiety of failing. With Painting Business Academy, you can get accessibility to a solid organisation strategy, business training, as well as all of the done-for-you kinds as well as systems that are shown to develop a million-dollar paint business.
You likewise get access to the impressive community of like-minded entrepreneurs doing the very same point as you that we discussed previously. While you do pay 1/10th of the cost in advance (on the high end), you have NO royalties to pay afterwards.
The probability of failing coincides whether you remain in a franchise or running your own business. Nonetheless, when you buy a franchise, you are taking a bigger danger, suggesting there's a bigger failure if you do fail.

WHAT NOW?
Prior to you buy a franchise as well as toss countless dollars down the toilet for a tried and tested system, you may wish to take a look at Painting Business Academy.
Painting Business Academy is likewise a tested system to build a million-dollar painting company, with a community of hundreds of others. Additionally, there is no continuous royalty, as well as no geographical restrictions to development.
Obtain all of the advantages of a Painting Business Franchise in Columbia MD for a portion of the price. Check the training course out right here and also call me if you have any type of inquiries.
The painting business is a terrific business 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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