Don't Buy A Painting Business Franchise in Indio CA

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

Should You Buy a Painting Business Franchise in Indio CA ?

Don't Buy a Painting Business Franchise in Indio CA

• 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 Indio CA
• 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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• 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 Indio CA

If you are believing of purchasing a paint franchise, stop now.
I'm going to damage down the fundamental troubles with purchasing a paint franchise business, as well as the alternate choices you have to begin a painting firm.

This is based upon my experience growing a effective painting organisation where we considered ending up being a franchise business yet chose a collaboration configuration instead. I listen to the battles of franchisee's continuously, as well as I feel for them.



Painting Business Franchise in Indio CA 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 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 Indio CA 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 Indio CA ?

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Is it better to start a painting business or buy a Painting Business Franchise in Indio CA ?

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BR> I don't desire you to end up in the exact same placement that numerous franchisees locate themselves in.
There is a far better way! We will certainly start with the problems of a franchise business, after that we'll enter options.

ISSUE # 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 out there.
These franchise business range from $10,000-$ 40,000 in franchise business fees just for the right to the franchise business in a restricted variety of zip codes where you can operate your franchise.
They likewise take 6-9% as an recurring aristocracy ... permanently.
If you stay in business for 10 years and also you generate $5,000,000 in income, this franchise winds up costing you upwards of $500,000. That's a steep price to pay.
As well as certainly you obtain some support and also service systems, yet everything that a franchise business offers can be gotten with other opportunities for much less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you get a Painting Business Franchise in Indio CA you are purchasing the rights to that company in a established area. You are assigned a tiny number of zip codes where you have the civil liberties to the organisation.
This is a HUGE problem. The most convenient way to expand and increase a painting business is by broadening geographically. Franchises take away this.
Painter Choice is our marketing business. We function with franchisees all over the nation. I constantly really feel awful for these local business owner due to the fact that they have such a difficult time generating organisation.
A regular business in Atlanta, for example, can use our lead service in North Atlanta to create 20-30 leads each month.
However a franchisee in North Atlanta that just has the civil liberties to 7-8 zip codes can just generate 5-7 leads each month from our lead service.
Simply put, if those franchisees had their very own business, they might instantly boost their organisation 3-5 times! In various other terms, that indicates an rise from $500,000 to $2,000,000. This is a enormous restriction on your prospective business growth.
As a franchisee, your only choice is to buy even more region, or such it up and also keep your service little.
If a person else already has the close-by area, you don't have that option.

PROBLEMS # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees as well as the franchisor have misaligned motivations. The franchisor desires to produce as much revenue as possible since they get paid a set percent of profits.
As the business owner, your goal is to optimize profit.
I'm a huge believer in aligning incentives, and in this situation, incentives are not aligned. They are playing a different video game than you are. They wish to optimize income in all of their territories, and sell 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.
As a result of royalties, your margins wind up being around 10% -12% after all business expenditures.
In order to make $100k/year you 'd need to have a $1,000,000 company.
You can't have a $1,000,000 business in the tiny region. And also also if you can, you're stuck at a optimum of $100,000 for on your own. You're paying $70k-$ 100k/year in nobilities wherefore?
That's a ludicrous amount of cash to pay your franchise business ... the same company 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 acquire another area to grow. Again ... I would certainly rather not have to pay for the right to expand my company. That's absurd.
Most franchises wind up in the $500,000-$ 600,000 array. You can most likely make $80,000-$ 110,000, sure. You also do not ever before have sufficient margin to employ other people to run the entire business, which is one of the best benefits to building a business.
You possibly aren't creating enough profits to also hire actually solid employees. In our business, we pay about 5-6% to our manufacturing manager who oversees $1,000,000 in manufacturing. That's $50,000-$ 60,000 each year for the supervisor. If you are just doing $500,000 a year in profits, you can pay 5% ($ 25,000) to your production supervisor, which is not sufficient cash for a solid worker.
Your options are to pay a greater percent ( eliminating your earnings margin), or do the job yourself ( eliminating your way of living). Both of which are not extremely attractive choices.
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IN SUMMARY:
You pay a whole lot of money to restrict your growth, you do not reach develop your very own point, and also if you want to grow geographically you require to spend for the rights to do so ... thinking no one else already possesses the legal rights to the region you are shopping.
As a result of your restrictions, and the high nobility cost, you are significantly limited in your capacity to expand your profits, construct a solid team, and build a huge service.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong organisation plan
# 2-- They do it for the assistance and training given by the franchise business
# 3-- They do it for the area of various other franchisees so they aren't alone
# 4-- They do it out of anxiety of failure
Currently, let's look at solutions. Exactly how can you obtain all the benefits without paying the steep cost of a franchise?

BENEFIT # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the cost of a franchise, you can purchase my organisation system. This is the precise service system we make use of and also comply with in our organisation, which corrected $3,000,000 in profits in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My course includes training and also assistance. When you begin with Painting Business Academy, you get accessibility to the whole company system as well as all of the training that goes along with 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 dozens of concerns asked everyday from our participants.
Our area is very involved and also active.
Individuals in our area also share their successes. Just recently a person shared a Facebook advertising and marketing technique, word for word, that's killing it for their company.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more money does not eliminate the concern of failure. With Painting Business Academy, you can get accessibility to a strong company plan, business training, and also all of the done-for-you kinds as well as systems that are confirmed to build a million-dollar painting organisation.
You likewise get access to the remarkable neighborhood of like-minded entrepreneurs doing the exact same thing as you that we spoke about earlier. While you do pay 1/10th of the cost up front (on the high end), you have NO aristocracies to pay after that.
The chance of failure coincides whether you remain in a franchise business or running your very own business. However, when you buy a franchise business, you are taking a larger danger, suggesting there's a larger failing if you do fail.

SO WHAT NOW?
Before you invest in a franchise business and also throw countless bucks down the bathroom for a tried and tested system, you may intend to examine out Painting Business Academy.
Painting Business Academy is additionally a proven system to develop a million-dollar paint company, with a neighborhood of hundreds of others. Furthermore, there is no ongoing nobility, and no geographical limitations to growth.
Obtain all of the benefits of a Painting Business Franchise in Indio CA for a portion of the rate. Check the training course out right here and contact me if you have any type of questions.
The paint business is a terrific business to be in! I hope you'll belong of it soon.
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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