Don't Buy A Painting Business Franchise in Columbia MO

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Should You Buy a Painting Business Franchise in Columbia MO ?

Don't Buy a Painting Business Franchise in Columbia MO

• 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 MO
• 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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• About
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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 MO

If you are thinking about purchasing a paint franchise, stop right currently.
I'm mosting likely to damage down the fundamental troubles with getting a paint franchise business, and also the different choices you have to start a painting company.

This is based on my experience expanding a effective paint company where we took into consideration coming to be a franchise business yet opted for a partnership configuration instead. I hear the battles of franchisee's frequently, and I really feel for them.



Painting Business Franchise in Columbia MO 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 Columbia MO 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 Columbia MO ?

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

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BR> I don't desire you to wind up in the very same placement that several franchisees discover themselves in.
There is a far better method! We will certainly start with the troubles of a franchise business, after that we'll enter into services.

ISSUE # 1: THE REAL COST OF A PAINTING FRANCHISE
CertaPro Painters, Five Star Painting, 360 Painting, and WOW-1-Day Painting are a few of the larger franchises around.
These franchises range from $10,000-$ 40,000 in franchise business fees simply for the right to the franchise business in a limited variety of zip codes where you can run your franchise.
They likewise take 6-9% as an ongoing royalty ... forever.
If you stay in business for 10 years as well as you create $5,000,000 in profits, this franchise business ends up costing you upwards of $500,000. That's a high rate to pay.
And naturally you obtain some support and also service systems, yet every little thing that a franchise business supplies can be acquired via various other methods for much less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you buy a Painting Business Franchise in Columbia MO you are purchasing the civil liberties to that organisation in a set territory. You are designated a handful of postal code where you have the legal rights to the business.
This is a HUGE problem. The easiest way to grow as well as expand a paint organisation is by expanding geographically. Franchises take away this.
Painter Choice is our advertising firm. We deal with franchisees around the nation. I constantly really feel awful for these local business owner due to the fact that they have such a difficult time creating company.
A common firm in Atlanta, as an example, can utilize our lead service in North Atlanta to create 20-30 leads per month.
Yet a franchisee in North Atlanta who only possesses the legal rights to 7-8 postal code can just create 5-7 leads each month from our lead service.
In various other words, if those franchisees had their own company, they can instantly enhance their organisation 3-5 times! In other terms, that indicates an boost from $500,000 to $2,000,000. This is a massive restriction on your possible organisation development.
As a franchisee, your only option is to buy even more area, or such it up and maintain your organisation tiny.
But if another person already has the nearby area, you don't have that option.

TROUBLES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees and also the franchisor have actually misaligned motivations. The franchisor intends to generate as much profits as possible since they earn money a set percent of earnings.
Yet as the service proprietor, your goal is to make the most of earnings.
I'm a huge follower in lining up incentives, and in this situation, incentives are not lined up. They are playing a various game than you are. They wish to optimize profits in all of their areas, as well as sell as several franchise business as they can.

TROUBLE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're purchasing a task. Allow me reveal you why.
As a result of royalties, your margins end up being around 10% -12% after all company expenditures.
In order to make $100k/year you would certainly need to have a $1,000,000 organisation.
You can't have a $1,000,000 company in the little region. And also if you can, you're stuck at a optimum of $100,000 on your own. You're paying $70k-$ 100k/year in royalties for what?
That's a ridiculous quantity of money to pay your franchise ... the very same company that has an contract that they hold over your head not enabling you to expand your service geographically.
They've obtained you by the rounds.
Or, you can purchase one more region to grow. Again ... I 'd rather not have to pay for the right to grow my service. That's unreasonable.
The majority of franchises wind up in the $500,000-$ 600,000 variety. You can possibly make $80,000-$ 110,000, sure. However you additionally do not ever before have enough margin to employ other individuals to run the entire company, which is just one of the best advantages to developing a firm.
You possibly aren't creating enough profits to even hire actually strong workers. In our company, we pay about 5-6% to our production supervisor who manages $1,000,000 in production. That's $50,000-$ 60,000 per year for the manager. If you are just doing $500,000 a year in revenue, you can pay 5% ($ 25,000) to your production supervisor, which is not sufficient cash for a solid staff member.
Your alternatives are to pay a greater percentage (killing your earnings margin), or get the job done yourself ( eliminating your way of living). Both of which are not really eye-catching choices.
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IN SUMMARY:
You pay a great deal of money to limit your development, you do not reach develop your very own thing, as well as if you intend to expand geographically you need to pay for the rights to do so ... presuming nobody else already has the rights to the area you are shopping.
Due to your limitations, and also the high nobility fee, you are substantially limited in your capability to expand your profits, build a solid group, and also develop a huge organisation.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid organisation strategy
# 2-- They do it for the support and 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 anxiety of failure
Now, let's take a look at remedies. How can you obtain all the advantages without paying the high price of a franchise business?

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

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My course consists of training and support. When you start with Painting Business Academy, you get access to the entire business system and all of the training that supports 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 exclusive members-only Facebook team. We have loads of questions asked on a daily basis from our participants.
Our area is highly involved and also active.
Individuals in our neighborhood also share their successes. Simply the various other day a person shared a Facebook advertising and marketing approach, verbatim, that's eliminating it for their organisation.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more cash does not eliminate the fear of failing. With Painting Business Academy, you can obtain accessibility to a solid service plan, company training, as well as all of the done-for-you types and systems that are shown to build a million-dollar paint organisation.
You additionally get accessibility to the fantastic neighborhood of like-minded business owners doing the exact same point as you that we spoke about earlier. While you do pay 1/10th of the price up front (on the luxury), you have NO nobilities to pay afterwards.
The likelihood of failing is the same whether you are in a franchise or running your very own business. However, when you purchase a franchise business, you are taking a larger risk, indicating there's a larger failing if you do fail.

WHAT NOW?
Before you spend in a franchise business and toss countless bucks down the bathroom for a proven system, you may intend to look into Painting Business Academy.
Painting Business Academy is additionally 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 limitations to development.
Get all of the advantages of a Painting Business Franchise in Columbia MO for a portion of the cost. Examine the training course out here and call me if you have any concerns.
The paint business is a wonderful business to be in! I hope you'll belong 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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