Don't Buy A Painting Business Franchise in Dayton OH

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Should You Buy a Painting Business Franchise in Dayton OH ?

Don't Buy a Painting Business Franchise in Dayton OH

• 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 Dayton OH
• 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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• 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 Dayton OH

If you are considering purchasing a painting franchise, stop now.
I'm mosting likely to break down the basic issues with buying a painting franchise business, and the alternate choices you need to start a paint company.

This is based upon my experience expanding a successful paint service where we thought about becoming a franchise business however chose for a collaboration setup instead. I listen to the struggles of franchisee's continuously, and I feel for them.



Painting Business Franchise in Dayton OH 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 Dayton OH 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 Dayton OH ?

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Is it better to start a painting business or buy a Painting Business Franchise in Dayton OH ?

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BR> I do not desire you to finish up in the exact same setting that lots of franchisees find themselves in.
There is a much better method! We will begin with the troubles of a franchise, then we'll obtain right into remedies.

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 around.
These franchise business range from $10,000-$ 40,000 in franchise business costs simply for the right to the franchise business in a restricted number of postal code where you can operate your franchise.
They also take 6-9% as an continuous royalty ... for life.
If you are in organisation for 10 years and you generate $5,000,000 in profits, this franchise finishes up costing you upwards of $500,000. That's a high rate to pay.
And naturally you obtain some assistance and also business systems, yet everything that a franchise business supplies can be obtained via other opportunities for a lot less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you acquire a Painting Business Franchise in Dayton OH you are acquiring the legal rights to that organisation in a established region. You are appointed a handful of zip codes where you have the legal rights to business.
This is a HUGE trouble. The easiest way to expand and also broaden a painting service is by expanding geographically. Franchises take away this.
Painter Choice is our advertising and marketing business. We deal with franchisees around the nation. I always really feel terrible for these local business owner since they have such a difficult time producing service.
A common business in Atlanta, as an example, can use our lead solution in North Atlanta to produce 20-30 leads per month.
A franchisee in North Atlanta who only owns the civil liberties to 7-8 zip codes can only create 5-7 leads per month from our lead service.
To put it simply, if those franchisees had their very own company, they can right away raise their company 3-5 times! In other terms, that implies an rise from $500,000 to $2,000,000. This is a enormous restriction on your possible business development.
As a franchisee, your only option is to acquire even more area, or such it up as well as maintain your service tiny.
However if another person currently owns the nearby territory, you don't have that option.

PROBLEMS # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees and the franchisor have misaligned motivations. The franchisor wants to generate as much earnings as feasible because they earn money a collection percent of income.
As the business proprietor, your objective is to make best use of earnings.
I'm a big believer in aligning motivations, and also in this instance, incentives are not lined up. They are playing a various game than you are. They intend to optimize earnings in all of their regions, and offer as several franchises as they can.

ISSUE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're purchasing a job. Let me show you why.
As a result of nobilities, your margins end up being around 10% -12% nevertheless organisation expenditures.
In order to make $100k/year you would certainly need to have a $1,000,000 business.
But you can't have a $1,000,000 organisation in the little territory. As well as also if you can, you're stuck at a maximum of $100,000 for yourself. You're paying $70k-$ 100k/year in aristocracies for what?
That's a crazy amount of money to pay your franchise ... the very same business that has an arrangement that they hold over your head not permitting you to grow your organisation geographically.
They've obtained you by the balls.
Or, you can get one more area to expand. But once again ... I would certainly instead not need to spend for the right to expand my business. That's absurd.
Many franchises wind up in the $500,000-$ 600,000 range. You can probably make $80,000-$ 110,000, sure. You likewise don't ever have enough margin to employ other individuals to run the whole organisation, which is one of the best benefits to developing a company.
You possibly aren't generating enough profits to also work with really solid staff members. In our firm, we pay concerning 5-6% to our production supervisor that supervises $1,000,000 in production. That's $50,000-$ 60,000 each year for the manager. If you are just doing $500,000 a year in income, you can pay 5% ($ 25,000) to your production manager, which is not enough money for a solid employee.
Your alternatives are to pay a greater percentage ( eliminating your profit margin), or get the job done on your own (killing 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 cash to limit your growth, you do not obtain to build your own point, and also if you intend to expand geographically you require to pay for the civil liberties to do so ... assuming nobody else already possesses the legal rights to the region you are shopping.
As a result of your constraints, and the high royalty cost, you are dramatically limited in your capability to grow your income, build a strong group, as well as construct a large business.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong business plan
# 2-- They do it for the support as well as training offered by the franchise
# 3-- They do it for the community of other franchisees so they aren't alone
# 4-- They do it out of concern of failing
Currently, let's take a look at services. Just how can you get all the benefits without paying the steep rate of a franchise business?

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

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My program consists of training and support. When you begin with Painting Business Academy, you get accessibility to the entire service system and also all of the training that supports that system.

ADVANTAGE # 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 concerns asked on a daily basis from our participants.
Our neighborhood is highly engaged and also energetic.
People in our neighborhood also share their successes. Just recently someone shared a Facebook advertising and marketing strategy, word for word, that's killing it for their business.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more money does not remove the worry of failing. With Painting Business Academy, you can get access to a solid business plan, service training, and all of the done-for-you forms as well as systems that are proven to construct a million-dollar paint business.
You likewise obtain accessibility to the remarkable neighborhood of similar 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 royalties to pay afterwards.
The likelihood of failure is the exact same whether you remain in a franchise business or running your own business. Nonetheless, when you purchase a franchise business, you are taking a bigger threat, suggesting there's a larger failure if you do stop working.

WHAT NOW?
Prior to you invest in a franchise and throw countless bucks down the toilet for a tested system, you may wish to look into Painting Business Academy.
Painting Business Academy is also a tested system to develop a million-dollar paint firm, with a neighborhood of thousands of others. On top of that, there is no ongoing royalty, and no geographical constraints to development.
Get every one of the advantages of a Painting Business Franchise in Dayton OH for a portion of the price. Check the training course out right here as well as contact me if you have any type of inquiries.
The painting business is a wonderful business to be in! I wish you'll belong of it soon.
Great 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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