Don't Buy A Painting Business Franchise in East New York NY

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Should You Buy a Painting Business Franchise in East New York NY ?

Don't Buy a Painting Business Franchise in East New York NY

• 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 East New York NY
• 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
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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 East New York NY

If you are considering getting a paint franchise, stop now.
I'm going to damage down the fundamental issues with acquiring a painting franchise business, as well as the different choices you need to begin a paint company.

This is based upon my experience expanding a effective painting organisation where we took into consideration ending up being a franchise business yet went with a partnership arrangement rather. I hear the battles of franchisee's continuously, as well as I really feel for them.



Painting Business Franchise in East New York NY 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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Is a Painting Business Franchise in East New York NY a good investment?

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Is it hard to start a painting business?

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What are the disadvantages of a Painting Business Franchise in East New York NY ?

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Is it better to start a painting business or buy a Painting Business Franchise in East New York NY ?

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BR> I do not want you to finish up in the very same placement that numerous franchisees find themselves in.
There is a much better way! We will start with the issues of a franchise, then we'll enter into options.

TROUBLE # 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 franchise business around.
These franchise business vary from $10,000-$ 40,000 in franchise fees just for the right to the franchise in a minimal variety of zip codes where you can run your franchise business.
They likewise take 6-9% as an recurring royalty ... for life.
If you stay in business for 10 years and also you create $5,000,000 in profits, this franchise business winds up costing you upwards of $500,000. That's a steep price to pay.
As well as naturally you obtain some support and business systems, but every little thing that a franchise business offers can be gotten with various other avenues for much less than $500,000.

PROBLEM # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you acquire a Painting Business Franchise in East New York NY you are buying the legal rights to that business in a established area. You are assigned a small number of postal code where you have the legal rights to the service.
This is a HUGE trouble. The most convenient means to expand as well as expand a paint company is by broadening geographically. Franchises eliminate this right.
Painter Choice is our advertising business. We deal with franchisees around the country. I always really feel awful for these service owners because they have such a tough time creating service.
A normal firm in Atlanta, for instance, can utilize our lead service in North Atlanta to create 20-30 leads monthly.
A franchisee in North Atlanta who just owns the rights 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 business, they might quickly raise their organisation 3-5 times! In various other terms, that means an increase from $500,000 to $2,000,000. This is a substantial restriction on your potential business development.
As a franchisee, your only choice is to purchase more region, or such it up and maintain your organisation little.
But if another person currently possesses the neighboring region, you don't have that option.

PROBLEMS # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees and the franchisor have actually misaligned rewards. The franchisor wishes to produce as much revenue as feasible because they earn money a set percent of profits.
As the organisation proprietor, your goal is to optimize revenue.
I'm a large believer in aligning motivations, as well as in this case, motivations are not straightened. They are playing a different video game than you are. They intend to optimize profits in all of their regions, and also offer as lots of franchise business as they can.

ISSUE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're getting a job. Allow me reveal you why.
Due to aristocracies, your margins end up being around 10% -12% after all company costs.
In order to make $100k/year you 'd need to have a $1,000,000 organisation.
You can't have a $1,000,000 organisation in the small region. As well as also if you can, you're stuck at a maximum of $100,000 for on your own. You're paying $70k-$ 100k/year in aristocracies of what?
That's a crazy quantity of cash to pay your franchise ... the very same firm that has an contract that they hold over your head not allowing you to expand your company geographically.
They've got you by the rounds.
Or, you can get another territory to grow. However once again ... I would certainly rather not have to spend for the right to grow my organisation. That's absurd.
Most franchises wind up in the $500,000-$ 600,000 variety. You can probably make $80,000-$ 110,000, sure. You additionally don't ever have enough margin to employ other individuals to run the whole company, which is one of the greatest benefits to building a business.
You possibly aren't generating enough income to even work with really solid workers. In our firm, we pay regarding 5-6% to our production supervisor that supervises $1,000,000 in manufacturing. That's $50,000-$ 60,000 per year for the supervisor. Yet if you are just doing $500,000 a year in profits, you can pay 5% ($ 25,000) to your production supervisor, which is not nearly enough cash for a strong worker.
Your options are to pay a higher portion (killing your earnings margin), or do the job on your own (killing your way of living). Both of which are not really attractive alternatives.
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IN SUMMARY:
You pay a great deal of money to limit your development, you don't reach develop your own thing, and if you desire to expand geographically you need to spend for the rights to do so ... thinking nobody else already possesses the legal rights to the territory you are trying to acquire.
As a result of your limitations, and also the high royalty fee, you are substantially limited in your capability to grow your profits, construct a solid group, and develop a big company.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid business strategy
# 2-- They do it for the support and also training supplied by the franchise business
# 3-- They do it for the neighborhood of other franchisees so they aren't alone
# 4-- They do it out of worry of failure
Currently, let's check out solutions. Just how can you obtain all the benefits without paying the high cost of a franchise business?

BENEFIT # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the expense of a franchise business, you can buy my service system. This is the exact organisation system we utilize and also 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 as well as assistance. When you get started with Painting Business Academy, you get access to the whole business system as well as all of the training that accompanies that system.

BENEFIT # 3: THEY DO IT FOR THE COMMUNITY SO THEY AREN'T ALONE
When you join Painting Business Academy, you also join our personal members-only Facebook group. We have dozens of concerns asked daily from our members.
Our community is highly involved and also energetic.
People in our neighborhood even share their successes. Just the other day a person shared a Facebook marketing method, verbatim, that's killing it for their service.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more cash does not get rid of the fear of failing. With Painting Business Academy, you can get access to a strong company strategy, organisation training, and also all of the done-for-you types as well as systems that are verified to build a million-dollar paint company.
You also get access to the incredible area of similar business owners doing the exact same thing as you that we discussed earlier. While you do pay 1/10th of the cost in advance (on the high-end), you have NO aristocracies to pay after that.
The probability of failing coincides whether you are in a franchise or running your own organisation. Nonetheless, when you acquire a franchise, you are taking a larger risk, implying there's a bigger failure if you do fall short.

WHAT NOW?
Prior to you invest in a franchise and also toss thousands of bucks down the toilet for a tested system, you may intend to inspect out Painting Business Academy.
Painting Business Academy is likewise a proven system to construct a million-dollar paint company, with a community of hundreds of others. In addition, there is no recurring aristocracy, as well as no geographical limitations to development.
Get every one of the advantages of a Painting Business Franchise in East New York NY for a portion of the cost. Check the course out right here as well as call me if you have any kind of inquiries.
The painting business is a terrific service to be in! I hope you'll be a component of it quickly.
Best of 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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Don't Buy A Painting Business Franchise in Pittsburgh PA
Don't Buy A Painting Business Franchise in Richmond VA
Don't Buy A Painting Business Franchise in Boston MA
Don't Buy A Painting Business Franchise in San Jose CA
Don't Buy A Painting Business Franchise in Baltimore MD

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