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

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

Don't Buy a Painting Business Franchise in Coral Springs 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 Coral Springs 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
• Training Support
• Training
• Support
• 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 Coral Springs FL

If you are considering purchasing a paint franchise, stop now.
I'm mosting likely to damage down the essential issues with getting a paint franchise business, as well as the different options you need to begin a paint company.

This is based on my experience growing a effective painting organisation where we considered ending up being a franchise however went with a partnership configuration instead. I listen to the struggles of franchisee's constantly, and I really feel for them.



Painting Business Franchise in Coral Springs 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 Coral Springs 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 Coral Springs FL ?

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

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BR> I do not desire you to end up in the exact same setting that several franchisees locate themselves in.
There is a much better way! We will certainly start with the problems of a franchise business, after that we'll enter services.

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 bigger franchise business around.
These franchises range from $10,000-$ 40,000 in franchise business costs simply for the right to the franchise in a restricted variety of zip codes where you can run your franchise business.
They also take 6-9% as an ongoing nobility ... for life.
If you stay in business for 10 years and also you produce $5,000,000 in earnings, this franchise finishes up costing you upwards of $500,000. That's a high price to pay.
And also of training course you get some assistance and also organisation systems, however whatever that a franchise offers can be acquired with various other opportunities for much less than $500,000.

PROBLEM # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you get a Painting Business Franchise in Coral Springs FL you are purchasing the rights to that company in a set area. You are assigned a handful of postal code where you have the civil liberties to the service.
This is a HUGE problem. The most convenient way to grow and broaden a painting organisation is by increasing geographically. Franchise business take away this right.
Painter Choice is our advertising firm. We deal with franchisees throughout the country. I always feel dreadful for these company owners due to the fact that they have such a hard time creating service.
A regular company in Atlanta, for instance, can use our lead service in North Atlanta to produce 20-30 leads monthly.
But a franchisee in North Atlanta who just possesses the civil liberties to 7-8 zip codes can only create 5-7 leads each month from our lead service.
To put it simply, if those franchisees had their own company, they might promptly enhance their service 3-5 times! In other terms, that implies an increase from $500,000 to $2,000,000. This is a huge restriction on your potential business growth.
As a franchisee, your only choice is to purchase even more area, or such it up as well as keep your company tiny.
Yet if another person already owns the close-by area, you don't have that choice.

PROBLEMS # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees and the franchisor have actually misaligned motivations. The franchisor intends to generate as much profits as feasible because they get paid a collection percent of income.
Yet as business proprietor, your objective is to make the most of earnings.
I'm a huge follower in lining up incentives, and also in this instance, motivations are not lined up. They are playing a various video game than you are. They intend to maximize earnings in all of their areas, and offer as numerous franchise business as they can.

ISSUE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're buying a work. Let me show you why.
As a result of royalties, your margins wind up being around 10% -12% nevertheless overhead.
In order to make $100k/year you would certainly need to have a $1,000,000 business.
You can not have a $1,000,000 company in the tiny area. And also even if you can, you're stuck at a optimum of $100,000 for on your own. You're paying $70k-$ 100k/year in royalties of what?
That's a ridiculous amount of money to pay your franchise ... the same firm that has an contract that they hold over your head not enabling you to grow your service geographically.
They've got you by the balls.
Or, you can acquire another territory to grow. Yet once more ... I would certainly instead not have to pay for the right to grow my business. That's ridiculous.
Many franchise business wind up in the $500,000-$ 600,000 variety. You can possibly make $80,000-$ 110,000, sure. You also do not ever have sufficient margin to work with various other people to run the whole company, which is one of the best advantages to constructing a company.
You probably aren't creating adequate profits to even work with truly solid staff members. In our business, we pay about 5-6% to our manufacturing manager who oversees $1,000,000 in production. That's $50,000-$ 60,000 annually 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 strong employee.
Your choices are to pay a higher percentage (killing your revenue margin), or get the job done on your own (killing your way of life). Both of which are not extremely attractive choices.
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IN SUMMARY:
You pay a great deal of cash to limit your development, you do not reach build your own point, as well as if you intend to grow geographically you need to spend for the legal rights to do so ... thinking nobody else currently has the legal rights to the territory you are attempting to get.
Because of your constraints, and also the high royalty charge, you are dramatically restricted in your capacity to grow your income, develop a solid group, and construct a big service.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid business plan
# 2-- They do it for the support as well as training given by the franchise
# 3-- They do it for the neighborhood of other franchisees so they aren't alone
# 4-- They do it out of fear of failure
Now, let's take a look at services. Exactly how can you obtain all the advantages without paying the high rate of a franchise?

BENEFIT # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the price of a franchise, you can purchase my company system. This is the precise company system we use and comply with in our business, 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 also assistance. When you get going with Painting Business Academy, you obtain access to the whole organisation system and all of the training that accompanies that system.

ADVANTAGE # 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 team. We have dozens of inquiries asked each day from our participants.
Our community is extremely engaged and also active.
People in our neighborhood even share their successes. Simply the other day a person shared a Facebook marketing method, verbatim, that's killing it for their company.

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

WHAT NOW?
Prior to you buy a franchise as well as toss thousands of dollars down the toilet for a tested system, you might intend to check out Painting Business Academy.
Painting Business Academy is also a tested system to develop a million-dollar paint firm, with a neighborhood of numerous others. On top of that, there is no recurring royalty, and also no geographical constraints to growth.
Get all of the benefits of a Painting Business Franchise in Coral Springs FL for a portion of the rate. Inspect the course out below and also call me if you have any kind of questions.
The painting business is a excellent service 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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