Don't Buy A Painting Business Franchise in Deerfield Beach FL

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Should You Buy a Painting Business Franchise in Deerfield Beach FL ?

Don't Buy a Painting Business Franchise in Deerfield Beach 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 Deerfield Beach 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 Deerfield Beach FL

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

This is based upon my experience expanding a successful painting service where we considered coming to be a franchise business yet decided for a partnership arrangement rather. I hear the battles of franchisee's constantly, as well as I really feel for them.



Painting Business Franchise in Deerfield Beach 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 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 Deerfield Beach 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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What are the disadvantages of a Painting Business Franchise in Deerfield Beach FL ?

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

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BR> I don't desire you to end up in the very same position that numerous franchisees find themselves in.
There is a much better method! We will start with the troubles of a franchise business, after that we'll enter into solutions.

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 franchises available.
These franchises vary from $10,000-$ 40,000 in franchise charges just for the right to the franchise business in a minimal number of zip codes where you can run your franchise business.
They additionally take 6-9% as an recurring nobility ... forever.
If you stay in business for 10 years and you produce $5,000,000 in earnings, this franchise business finishes up costing you upwards of $500,000. That's a high price to pay.
And also certainly you get some support as well as organisation systems, but whatever that a franchise business supplies can be obtained through various other opportunities for a lot less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you purchase a Painting Business Franchise in Deerfield Beach FL you are purchasing the legal rights to that organisation in a set region. You are designated a handful of postal code where you have the civil liberties to the organisation.
This is a HUGE issue. The most convenient means to expand and also expand a paint company is by broadening geographically. Franchise business take away this.
Painter Choice is our advertising business. We collaborate with franchisees all over the country. I always feel terrible for these company owner since they have such a difficult time creating company.
A regular company in Atlanta, for instance, can utilize our lead solution in North Atlanta to create 20-30 leads per month.
But a franchisee in North Atlanta who just has the rights to 7-8 postal code can just produce 5-7 leads per month from our lead service.
Simply put, if those franchisees had their very own business, they can right away raise their organisation 3-5 times! In various other terms, that indicates an rise from $500,000 to $2,000,000. This is a huge restriction on your possible business development.
As a franchisee, your only alternative is to buy more area, or such it up and also keep your service little.
If someone else already possesses the neighboring region, you do not have that choice.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees and also the franchisor have actually misaligned motivations. The franchisor wants to create as much revenue as feasible because they make money a collection percent of profits.
Yet as business proprietor, your objective is to make best use of profit.
I'm a large follower in straightening rewards, and in this instance, motivations are not lined up. They are playing a different video game than you are. They want to make the most of income in all of their areas, and offer as several franchises as they can.

ISSUE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're getting a job. Let me show you why.
Due to royalties, your margins finish up being around 10% -12% besides organisation costs.
In order to make $100k/year you 'd have to have a $1,000,000 organisation.
But you can't have a $1,000,000 business in the small territory. And also if you can, you're stuck at a maximum of $100,000 for yourself. You're paying $70k-$ 100k/year in aristocracies of what?
That's a crazy amount of cash to pay your franchise ... the same business that has an contract that they hold over your head not allowing you to grow your business geographically.
They've obtained you by the balls.
Or, you can purchase one more area to expand. Once more ... I 'd rather not have to pay for the right to grow my business. That's silly.
A lot of franchises end up in the $500,000-$ 600,000 array. You can most likely make $80,000-$ 110,000, sure. You additionally don't ever before have sufficient margin to work with other individuals to run the entire company, which is one of the biggest benefits to building a business.
You probably aren't creating sufficient profits to also hire truly solid employees. In our business, we pay concerning 5-6% to our production manager that manages $1,000,000 in manufacturing. That's $50,000-$ 60,000 each year for the supervisor. Yet if you are just doing $500,000 a year in income, you can pay 5% ($ 25,000) to your manufacturing supervisor, which is not enough money for a strong worker.
Your options are to pay a higher percent ( eliminating your revenue margin), or get the job done on your own ( eliminating your way of living). Both of which are not extremely eye-catching alternatives.
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IN SUMMARY:
You pay a lot of money to limit your growth, you do not reach construct your very own thing, and if you want to grow geographically you require to spend for the civil liberties to do so ... assuming no one else currently owns the rights to the area you are shopping.
As a result of your constraints, as well as the high nobility cost, you are considerably limited in your capability to expand your revenue, build a solid group, and also construct a large business.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong service plan
# 2-- They do it for the assistance and training offered by the franchise
# 3-- They do it for the neighborhood of other franchisees so they aren't alone
# 4-- They do it out of worry of failing
Now, let's look at remedies. Exactly how can you obtain all the benefits without paying the steep cost of a franchise business?

ADVANTAGE # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the cost of a franchise business, you can buy my organisation system. This is the specific company system we utilize and also follow in our company, which corrected $3,000,000 in income in 2016.

BENEFIT # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My program includes training as well as assistance. When you get started with Painting Business Academy, you obtain access to the whole company system as well as 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 personal members-only Facebook group. We have lots of questions asked everyday from our members.
Our area is extremely involved and also active.
People in our area also share their successes. Simply a few days ago a person shared a Facebook advertising method, word for word, that's eliminating it for their service.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more cash does not eliminate the anxiety of failing. With Painting Business Academy, you can obtain accessibility to a strong company plan, company training, and all of the done-for-you forms and also systems that are shown to construct a million-dollar paint service.
You also obtain access to the outstanding community of like-minded entrepreneurs doing the exact same thing as you that we spoke about earlier. While you do pay 1/10th of the cost up front (on the high end), you have NO aristocracies to pay afterwards.
The likelihood of failure is the exact same whether you are in a franchise or running your own business. When you buy a franchise, you are taking a bigger danger, implying there's a bigger failing if you do fall short.

SO WHAT NOW?
Prior to you buy a franchise and also toss countless bucks down the bathroom for a tested system, you might wish to look into Painting Business Academy.
Painting Business Academy is likewise a tested system to develop a million-dollar painting firm, with a area of numerous others. In addition, there is no ongoing royalty, as well as no geographical limitations to development.
Obtain all of the advantages of a Painting Business Franchise in Deerfield Beach FL for a fraction of the rate. Inspect the course out here and also contact me if you have any kind of concerns.
The paint business is a wonderful company to be in! I hope you'll be a component of it quickly.
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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