Don't Buy A Painting Business Franchise in Fort Collins CO

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Should You Buy a Painting Business Franchise in Fort Collins CO ?

Don't Buy a Painting Business Franchise in Fort Collins CO

• 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 Fort Collins CO
• 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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• 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 Fort Collins CO

If you are thinking about acquiring a painting franchise, quit now.
I'm mosting likely to damage down the basic issues with purchasing a painting franchise, and also the different choices you need to start a paint company.

This is based on my experience growing a effective paint business where we considered coming to be a franchise however selected a partnership configuration instead. I hear the struggles of franchisee's constantly, as well as I feel for them.



Painting Business Franchise in Fort Collins CO FAQs
How much does it cost to open your own franchise?

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How much is a Five Star Painting Franchise?

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Is a Painting Business Franchise in Fort Collins CO 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 Fort Collins CO ?

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Is it better to start a painting business or buy a Painting Business Franchise in Fort Collins CO ?

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BR> I don't want you to finish up in the same placement that numerous franchisees discover themselves in.
There is a better way! We will certainly begin with the troubles of a franchise, after that we'll obtain right into services.

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 bigger franchises available.
These franchises range from $10,000-$ 40,000 in franchise fees just for the right to the franchise business in a restricted variety of postal code where you can operate your franchise.
They additionally take 6-9% as an recurring aristocracy ... forever.
If you are in business for 10 years and you create $5,000,000 in profits, this franchise ends up costing you upwards of $500,000. That's a steep price to pay.
And obviously you get some support and also service systems, yet everything that a franchise provides can be obtained with other opportunities for much less than $500,000.

PROBLEM # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you buy a Painting Business Franchise in Fort Collins CO you are purchasing the rights to that company in a set territory. You are assigned a small number of postal code where you have the rights to business.
This is a HUGE issue. The easiest way to expand and also increase a painting service is by expanding geographically. Franchise business take away this.
Painter Choice is our advertising and marketing business. We deal with franchisees throughout the nation. I always really feel awful for these local business owner due to the fact that they have such a tough time producing company.
A typical business in Atlanta, for example, can use our lead service in North Atlanta to generate 20-30 leads monthly.
However a franchisee in North Atlanta who just possesses the civil liberties to 7-8 zip codes can only produce 5-7 leads monthly from our lead solution.
To put it simply, if those franchisees had their very own business, they can promptly enhance their business 3-5 times! In various other terms, that suggests an increase from $500,000 to $2,000,000. This is a large limitation on your possible service development.
As a franchisee, your only choice is to purchase even more region, or such it up and keep your company little.
If someone else currently possesses the neighboring area, you don't have that option.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees as well as the franchisor have actually misaligned rewards. The franchisor desires to generate as much revenue as possible because they earn money a set percent of earnings.
As the organisation owner, your objective is to maximize earnings.
I'm a big believer in aligning rewards, and also in this case, rewards are not lined up. They are playing a different game than you are. They intend to make the most of earnings in all of their areas, and also sell as many franchises as they can.

TROUBLE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're buying a task. Allow me show you why.
Due to nobilities, your margins wind up being around 10% -12% after all service costs.
In order to make $100k/year you would certainly need to have a $1,000,000 company.
You can't have a $1,000,000 organisation in the tiny territory. And also even if you can, you're stuck at a optimum of $100,000 on your own. You're paying $70k-$ 100k/year in royalties of what?
That's a ridiculous quantity of money to pay your franchise business ... the exact same firm that has an agreement that they hold over your head not permitting you to expand your business geographically.
They've obtained you by the rounds.
Or, you can acquire one more region to grow. Once more ... I 'd instead not have to pay for the right to expand my organisation. That's ridiculous.
Many franchise business wind up in the $500,000-$ 600,000 range. You can most likely make $80,000-$ 110,000, sure. Yet you additionally do not ever have sufficient margin to hire various other individuals to run the entire organisation, which is among the best benefits to building a firm.
You possibly aren't producing enough profits to also work with truly strong staff members. In our firm, we pay about 5-6% to our manufacturing manager who manages $1,000,000 in production. That's $50,000-$ 60,000 each year for the manager. But if you are just doing $500,000 a year in profits, you can pay 5% ($ 25,000) to your production manager, which is inadequate cash for a solid staff member.
Your choices are to pay a higher portion (killing your revenue margin), or get the job done on your own (killing your way of living). Both of which are not extremely attractive alternatives.
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IN SUMMARY:
You pay a great deal of money to restrict your growth, you do not reach construct your own point, and also if you intend to grow geographically you need to spend for the civil liberties to do so ... presuming nobody else currently owns the rights to the area you are attempting to purchase.
As a result of your restrictions, as well as the high nobility charge, you are considerably restricted in your capability to grow your revenue, construct a solid group, and develop a huge organisation.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid organisation plan
# 2-- They do it for the assistance as well as training supplied by the franchise
# 3-- They do it for the neighborhood of other franchisees so they aren't alone
# 4-- They do it out of fear of failure
Currently, allow's check out solutions. Just how can you get all the advantages without paying the high rate of a franchise?

BENEFIT # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the price of a franchise, you can buy my business system. This is the precise business system we make use of and also follow in our organisation, which corrected $3,000,000 in revenue in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My training course includes training and also assistance. When you get going with Painting Business Academy, you obtain accessibility to the whole service system as well as 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 likewise join our private members-only Facebook team. We have loads of concerns asked daily from our participants.
Our neighborhood is highly engaged and active.
Individuals in our neighborhood also share their successes. Just recently a person shared a Facebook advertising technique, word for word, that's eliminating it for their business.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more cash does not remove the fear of failing. With Painting Business Academy, you can obtain access to a strong service plan, organisation training, and all of the done-for-you kinds as well as systems that are shown to build a million-dollar painting organisation.
You additionally get accessibility to the outstanding neighborhood of similar entrepreneurs doing the very same thing as you that we discussed previously. While you do pay 1/10th of the expense up front (on the high-end), you have NO royalties to pay after that.
The possibility of failing is the same whether you are in a franchise or running your very own organisation. When you get a franchise business, you are taking a larger risk, meaning there's a larger failing if you do stop working.

SO WHAT NOW?
Prior to you spend in a franchise and also throw countless dollars down the commode for a tested system, you could desire to take a look at Painting Business Academy.
Painting Business Academy is also a tested system to develop a million-dollar painting business, with a area of numerous others. Furthermore, there is no continuous royalty, as well as no geographical limitations to development.
Get every one of the benefits of a Painting Business Franchise in Fort Collins CO for a fraction of the price. Inspect the training course out right here and call me if you have any kind of questions.
The painting business is a excellent business to be in! I wish you'll belong of it quickly.
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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