Don't Buy A Painting Business Franchise in Denton TX

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

Should You Buy a Painting Business Franchise in Denton TX ?

Don't Buy a Painting Business Franchise in Denton TX

• 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 Denton TX
• 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 Denton TX

If you are considering purchasing a painting franchise, quit today.
I'm going to damage down the fundamental problems with getting a painting franchise business, and the different choices you have to begin a painting firm.

This is based on my experience expanding a successful paint company where we took into consideration coming to be a franchise yet chose a partnership setup rather. I listen to the battles of franchisee's frequently, and also I really feel for them.



Painting Business Franchise in Denton TX 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 Denton TX 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 Denton TX ?

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Is it better to start a painting business or buy a Painting Business Franchise in Denton TX ?

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BR> I don't want you to finish up in the same placement that lots of franchisees find themselves in.
There is a far better way! We will certainly start with the troubles of a franchise, after that we'll enter into solutions.

ISSUE # 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 franchise business available.
These franchises vary from $10,000-$ 40,000 in franchise business costs just for the right to the franchise business in a limited variety of postal code where you can run your franchise business.
They also take 6-9% as an continuous royalty ... permanently.
If you are in business for 10 years and you produce $5,000,000 in earnings, this franchise business winds up costing you upwards of $500,000. That's a steep cost to pay.
And also obviously you obtain some assistance as well as service systems, yet everything that a franchise business provides can be acquired via various other opportunities 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 Denton TX you are purchasing the civil liberties to that business in a set area. You are appointed a tiny number of postal code where you have the rights to business.
This is a HUGE trouble. The most convenient way to expand as well as broaden a painting service is by broadening geographically. Franchise business take away this.
Painter Choice is our advertising company. We deal with franchisees throughout the country. I constantly really feel awful for these business proprietors since they have such a difficult time generating company.
A typical business in Atlanta, for instance, can use our lead solution in North Atlanta to generate 20-30 leads monthly.
A franchisee in North Atlanta who just possesses the rights to 7-8 zip codes can only generate 5-7 leads per month from our lead service.
To put it simply, if those franchisees had their own business, they could instantly enhance their organisation 3-5 times! In other terms, that indicates an boost from $500,000 to $2,000,000. This is a enormous limitation on your possible organisation development.
As a franchisee, your only alternative is to buy more region, or such it up and maintain your company little.
Yet if a person else already possesses the nearby area, you do not have that option.

PROBLEMS # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees and also the franchisor have misaligned motivations. The franchisor intends to produce as much earnings as possible since they earn money a collection percent of income.
But as business proprietor, your objective is to take full advantage of earnings.
I'm a large believer in straightening motivations, as well as in this situation, incentives are not lined up. They are playing a different game than you are. They wish to optimize revenue in all of their territories, and also offer as lots of franchises as they can.

TROUBLE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're acquiring a work. Allow me reveal you why.
Since of royalties, your margins end up being around 10% -12% nevertheless business expenses.
In order to make $100k/year you would certainly need to have a $1,000,000 service.
You can't have a $1,000,000 company in the little region. And even if you can, you're stuck at a optimum of $100,000 on your own. You're paying $70k-$ 100k/year in nobilities of what?
That's a crazy amount of cash to pay your franchise ... the exact same firm that has an contract that they hold over your head not permitting you to grow your service geographically.
They've got you by the rounds.
Or, you can buy another territory to expand. Once more ... I 'd rather not have to pay for the right to grow my organisation. That's unreasonable.
A lot of franchise business finish up in the $500,000-$ 600,000 variety. You can possibly make $80,000-$ 110,000, sure. Yet you likewise don't ever have sufficient margin to hire other individuals to run the entire company, which is one of the best advantages to developing a company.
You most likely aren't producing enough revenue to even hire truly strong workers. In our firm, we pay about 5-6% to our production supervisor that looks after $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 manufacturing supervisor, which is not adequate cash for a strong staff member.
Your choices are to pay a greater percent ( eliminating your revenue margin), or get the job done on your own (killing your way of living). Both of which are not very appealing choices.
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IN SUMMARY:
You pay a great deal of cash to restrict your development, you don't reach develop your very own point, and if you wish to grow geographically you need to pay for the legal rights to do so ... presuming no one else currently owns the civil liberties to the region you are shopping.
Because of your limitations, as well as the high nobility charge, you are dramatically limited in your ability to expand your revenue, develop a solid team, and construct a large organisation.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid company strategy
# 2-- They do it for the assistance as well as training given by the franchise business
# 3-- They do it for the area of other franchisees so they aren't alone
# 4-- They do it out of anxiety of failure
Currently, let's take a look at remedies. Exactly how can you get all the benefits without paying the high rate of a franchise?

BENEFIT # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the expense of a franchise, you can buy my company system. This is the specific company system we make use of as well as comply with in our service, which did over $3,000,000 in earnings in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My training course consists of training as well as support. When you obtain started with Painting Business Academy, you get access to the entire organisation system and all of the training that accompanies that system.

BENEFIT # 3: THEY DO IT FOR THE COMMUNITY SO THEY AREN'T ALONE
When you sign up with Painting Business Academy, you also join our personal members-only Facebook group. We have dozens of inquiries asked daily from our participants.
Our neighborhood is very engaged and also active.
People in our neighborhood even share their successes. Just the various other day somebody shared a Facebook advertising and marketing approach, verbatim, that's killing it for their company.

ADVANTAGE # 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 get accessibility to a solid organisation strategy, service training, and all of the done-for-you types and systems that are verified to build a million-dollar paint service.
You likewise get accessibility to the impressive community of similar entrepreneurs doing the very 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 likelihood of failing coincides whether you are in a franchise or running your very own company. However, when you get a franchise business, you are taking a bigger danger, indicating there's a larger failing if you do stop working.

WHAT NOW?
Prior to you purchase a franchise business as well as toss thousands of dollars down the commode for a tried and tested system, you could intend to have a look at Painting Business Academy.
Painting Business Academy is also a tried and tested system to build a million-dollar painting business, with a neighborhood of hundreds of others. In enhancement, there is no recurring nobility, and also no geographical restrictions to growth.
Get all of the advantages of a Painting Business Franchise in Denton TX for a portion of the cost. Check the course out below as well as contact me if you have any kind of questions.
The painting business is a terrific company to be in! I wish 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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