Don't Buy A Painting Business Franchise in Fishers IN

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

Should You Buy a Painting Business Franchise in Fishers IN ?

Don't Buy a Painting Business Franchise in Fishers IN

• 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 Fishers IN
• 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 Fishers IN

If you are considering acquiring a paint franchise, quit now.
I'm mosting likely to damage down the essential troubles with purchasing a paint franchise, as well as the alternative options you have to begin a painting business.

This is based on my experience expanding a successful paint service where we considered coming to be a franchise business however decided for a partnership arrangement instead. I hear the struggles of franchisee's regularly, and I really feel for them.



Painting Business Franchise in Fishers IN 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 a Painting Business Franchise in Fishers IN a good investment?

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What are the disadvantages of a Painting Business Franchise in Fishers IN ?

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Is it better to start a painting business or buy a Painting Business Franchise in Fishers IN ?

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BR> I don't want you to wind up in the exact same position that numerous franchisees find themselves in.
There is a far better method! We will begin with the issues of a franchise, then we'll get right 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 franchise business out there.
These franchises vary from $10,000-$ 40,000 in franchise fees simply for the right to the franchise in a minimal number of zip codes where you can run your franchise.
They additionally take 6-9% as an recurring aristocracy ... for life.
If you stay in business for 10 years as well as you create $5,000,000 in revenue, this franchise business ends up costing you upwards of $500,000. That's a steep price to pay.
And also certainly you obtain some support as well as service systems, yet every little thing that a franchise business offers can be obtained through other methods for much less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you purchase a Painting Business Franchise in Fishers IN you are buying the civil liberties to that organisation in a established area. You are designated a little number of zip codes where you have the rights to business.
This is a HUGE trouble. The simplest way to grow and also broaden a painting company is by increasing geographically. Franchise business take away this.
Painter Choice is our marketing business. We function with franchisees throughout the country. I always feel awful for these entrepreneur since they have such a difficult time generating service.
A typical company in Atlanta, for instance, can utilize our lead service in North Atlanta to produce 20-30 leads each month.
A franchisee in North Atlanta who just owns the legal rights to 7-8 zip codes can only generate 5-7 leads per month from our lead service.
Simply put, if those franchisees had their very own business, they can instantly raise their organisation 3-5 times! In various other terms, that indicates an rise from $500,000 to $2,000,000. This is a large restriction on your possible company development.
As a franchisee, your only option is to buy even more region, or such it up and maintain your business tiny.
If somebody else already possesses the close-by territory, you don't have that choice.

PROBLEMS # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Fundamentally, franchisees as well as the franchisor have actually misaligned incentives. The franchisor intends to create as much income as feasible due to the fact that they earn money a set percent of earnings.
But as business proprietor, your goal is to make best use of revenue.
I'm a big follower in straightening motivations, and in this instance, motivations are not lined up. They are playing a various game than you are. They wish to optimize income in all of their regions, and offer as several franchises as they can.

PROBLEM # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're buying a job. Let me show you why.
Because of nobilities, your margins wind up being around 10% -12% besides organisation costs.
In order to make $100k/year you 'd have to have a $1,000,000 business.
But you can not have a $1,000,000 business in the small territory. And also also if you can, you're stuck at a maximum of $100,000 on your own. You're paying $70k-$ 100k/year in nobilities 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 business geographically.
They've obtained you by the rounds.
Or, you can purchase an additional region to expand. Again ... I would certainly rather not have to pay for the right to expand my company. That's absurd.
Most franchises end up in the $500,000-$ 600,000 variety. You can probably make $80,000-$ 110,000, sure. However you also do not ever have sufficient margin to employ other people to run the entire service, which is one of the best advantages to building a business.
You probably aren't generating enough profits to also hire really strong employees. In our business, we pay concerning 5-6% to our manufacturing supervisor that oversees $1,000,000 in manufacturing. That's $50,000-$ 60,000 each year for the manager. However if you are only doing $500,000 a year in profits, you can pay 5% ($ 25,000) to your manufacturing supervisor, which is not sufficient cash for a strong staff member.
Your alternatives are to pay a higher percent (killing your earnings margin), or get the job done on your own ( eliminating your lifestyle). Both of which are not extremely attractive choices.
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IN SUMMARY:
You pay a great deal of money to restrict your development, you don't reach construct your very own thing, as well as if you desire to expand geographically you need to spend for the civil liberties to do so ... presuming no one else currently owns the civil liberties to the area you are attempting to purchase.
Due to your constraints, as well as the high nobility cost, you are substantially restricted in your capacity to expand your revenue, build a solid team, and build a large organisation.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong company plan
# 2-- They do it for the support and training supplied by the franchise business
# 3-- They do it for the community of various other franchisees so they aren't alone
# 4-- They do it out of concern of failing
Currently, allow's look at services. Just 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, you can purchase my business system. This is the exact service system we make use of as well as adhere to 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 course includes training as well as support. When you start with Painting Business Academy, you obtain access to the whole organisation system and also all of the training that accompanies that system.

ADVANTAGE # 3: THEY DO IT FOR THE COMMUNITY SO THEY AREN'T ALONE
When you sign up with Painting Business Academy, you also join our exclusive members-only Facebook team. We have loads of inquiries asked everyday from our participants.
Our community is highly involved and energetic.
Individuals in our community even share their successes. Just recently a person 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 get rid of the anxiety of failing. With Painting Business Academy, you can get access to a solid business plan, business training, and all of the done-for-you kinds and also systems that are verified to develop a million-dollar painting business.
You also get accessibility to the fantastic community of like-minded entrepreneurs doing the very same thing as you that we discussed previously. While you do pay 1/10th of the cost in advance (on the high-end), you have NO royalties to pay afterwards.
The likelihood of failure coincides whether you are in a franchise business or running your own company. Nonetheless, when you get a franchise, you are taking a bigger danger, suggesting there's a bigger failing if you do fail.

SO WHAT NOW?
Before you invest in a franchise business and also throw hundreds of bucks down the toilet for a tested system, you could intend to inspect out Painting Business Academy.
Painting Business Academy is additionally a tested system to build a million-dollar painting firm, with a neighborhood of thousands of others. On top of that, there is no ongoing nobility, and no geographical constraints to growth.
Get all of the benefits of a Painting Business Franchise in Fishers IN for a fraction of the price. Examine the training course out right here and also contact me if you have any inquiries.
The painting business is a wonderful service to be in! I hope you'll be a part of it quickly.
Great 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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