Don't Buy A Painting Business Franchise in Fountainebleau FL

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Should You Buy a Painting Business Franchise in Fountainebleau FL ?

Don't Buy a Painting Business Franchise in Fountainebleau 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 Fountainebleau 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 Fountainebleau FL

If you are believing of getting a paint franchise, stop now.
I'm going to damage down the basic issues with getting a painting franchise, and also the alternate options you have to begin a painting firm.

This is based on my experience expanding a effective painting company where we took into consideration becoming a franchise business but chose a collaboration arrangement rather. I hear the struggles of franchisee's frequently, and I really feel for them.



Painting Business Franchise in Fountainebleau 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 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 Fountainebleau 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 Fountainebleau FL ?

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

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BR> I do not want you to wind up in the same position that several franchisees find themselves in.
There is a better means! We will certainly start with the issues of a franchise, after that we'll get into options.

PROBLEM # 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 franchises around.
These franchises vary from $10,000-$ 40,000 in franchise business costs simply for the right to the franchise business in a minimal number of postal code where you can operate your franchise.
They additionally take 6-9% as an continuous nobility ... permanently.
If you stay in business for 10 years as well as you produce $5,000,000 in revenue, this franchise business winds up costing you upwards of $500,000. That's a high price to pay.
And obviously you obtain some assistance as well as business systems, yet every little thing that a franchise business provides can be gotten via various other methods for a lot less than $500,000.

PROBLEM # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you purchase a Painting Business Franchise in Fountainebleau FL you are purchasing the civil liberties to that business in a established region. You are assigned a handful of zip codes where you have the rights to the service.
This is a HUGE issue. The easiest way to expand and increase a painting business is by broadening geographically. Franchise business take away this.
Painter Choice is our advertising business. We collaborate with franchisees around the nation. I constantly feel horrible for these company owner due to the fact that they have such a hard time producing business.
A typical business in Atlanta, for instance, can use our lead solution in North Atlanta to generate 20-30 leads each month.
However a franchisee in North Atlanta that just has the civil liberties to 7-8 postal code can only create 5-7 leads each month from our lead solution.
Simply put, if those franchisees had their own company, they can immediately increase their business 3-5 times! In various other terms, that suggests an boost from $500,000 to $2,000,000. This is a massive constraint on your possible business growth.
As a franchisee, your only alternative is to buy more region, or such it up as well as maintain your company small.
But if another person already owns the nearby territory, you do not have that choice.

TROUBLES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Essentially, franchisees and also the franchisor have misaligned incentives. The franchisor intends to create as much income as feasible since they make money a collection percent of revenue.
As the company proprietor, your objective is to make best use of earnings.
I'm a huge follower in lining up rewards, and in this situation, incentives are not aligned. They are playing a different game than you are. They intend to make best use of income in all of their areas, and also offer as several franchises as they can.

PROBLEM # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're getting a task. Let me reveal you why.
Because of aristocracies, your margins finish up being around 10% -12% besides overhead.
In order to make $100k/year you would certainly have to have a $1,000,000 organisation.
You can't have a $1,000,000 company in the little area. And also if you can, you're stuck at a optimum of $100,000 on your own. You're paying $70k-$ 100k/year in aristocracies for what?
That's a crazy amount of cash to pay your franchise business ... the very same firm that has an arrangement that they hold over your head not allowing you to grow your service geographically.
They've got you by the balls.
Or, you can buy an additional area to grow. Once more ... I 'd rather not have to pay for the right to expand my business. That's ridiculous.
The majority of franchises wind up in the $500,000-$ 600,000 range. You can most likely make $80,000-$ 110,000, sure. You also don't ever before have sufficient margin to hire other people to run the whole company, which is one of the greatest advantages to building a company.
You possibly aren't creating enough profits to even hire truly strong employees. In our firm, we pay concerning 5-6% to our production supervisor that looks after $1,000,000 in production. That's $50,000-$ 60,000 per year for the supervisor. If you are just doing $500,000 a year in income, you can pay 5% ($ 25,000) to your production manager, which is not adequate cash for a solid staff member.
Your choices are to pay a greater percent (killing your profit margin), or do the work yourself ( eliminating your way of life). Both of which are not really attractive alternatives.
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IN SUMMARY:
You pay a great deal of cash to restrict your development, you don't reach construct your own thing, as well as if you wish to expand geographically you require to spend for the rights to do so ... presuming nobody else currently owns the legal rights to the territory you are trying to purchase.
As a result of your constraints, and also the high aristocracy cost, you are dramatically limited in your ability to expand your earnings, develop a solid team, as well as construct a big company.

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 and training supplied by the franchise
# 3-- They do it for the neighborhood of various other franchisees so they aren't alone
# 4-- They do it out of anxiety of failure
Currently, allow's take a look at remedies. Just how can you obtain all the benefits without paying the high cost of a franchise?

ADVANTAGE # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the price of a franchise, you can purchase my organisation system. This is the exact service system we use and also comply with in our business, which did over $3,000,000 in income in 2016.

BENEFIT # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My training course consists of training and also assistance. When you obtain started with Painting Business Academy, you get accessibility to the whole business system and also 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 exclusive members-only Facebook team. We have lots of concerns asked on a daily basis from our participants.
Our neighborhood is highly engaged and also active.
Individuals in our area even share their successes. Just recently someone shared a Facebook marketing method, verbatim, that's eliminating it for their organisation.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more cash does not remove the anxiety of failure. With Painting Business Academy, you can get access to a strong company strategy, organisation training, and also all of the done-for-you kinds and systems that are confirmed to build a million-dollar paint business.
You likewise obtain access to the incredible neighborhood of like-minded entrepreneurs doing the very same thing as you that we chatted about previously. While you do pay 1/10th of the expense up front (on the luxury), you have NO royalties to pay after that.
The possibility of failing is the exact same whether you are in a franchise or running your very own business. When you acquire a franchise business, you are taking a bigger risk, indicating there's a bigger failure if you do fail.

SO WHAT NOW?
Before you buy a franchise business and also throw thousands of dollars down the bathroom for a proven system, you may wish to have a look at Painting Business Academy.
Painting Business Academy is also a proven system to develop a million-dollar paint business, with a community of numerous others. Additionally, there is no recurring aristocracy, as well as no geographical restrictions to growth.
Get every one of the advantages of a Painting Business Franchise in Fountainebleau FL for a portion of the price. Inspect the training course out below and call me if you have any inquiries.
The paint business is a fantastic business to be in! I hope you'll belong 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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