Don't Buy A Painting Business Franchise in Irving

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

Should You Buy a Painting Business Franchise in Irving ?

Don't Buy a Painting Business Franchise in Irving

• 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 Irving
• 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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• Training
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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 Irving

If you are considering acquiring a paint franchise, quit today.
I'm going to break down the fundamental problems with purchasing a paint franchise, and the different choices you have to start a painting company.

This is based upon my experience expanding a effective paint service where we took into consideration coming to be a franchise business but opted for a partnership arrangement instead. I hear the struggles of franchisee's continuously, and I feel for them.



Painting Business Franchise in Irving 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 Irving 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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How do I market my painting business?

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What are the disadvantages of a Painting Business Franchise in Irving ?

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

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BR> I don't desire you to wind up in the very same placement that lots of franchisees discover themselves in.
There is a better method! We will begin with the troubles of a franchise, then we'll enter into remedies.

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 bigger franchise business out there.
These franchise business vary from $10,000-$ 40,000 in franchise costs simply for the right to the franchise in a limited number of zip codes where you can operate your franchise business.
They likewise take 6-9% as an continuous nobility ... for life.
If you are in business for 10 years as well as you generate $5,000,000 in earnings, this franchise business ends up costing you upwards of $500,000. That's a steep price to pay.
And of training course you get some assistance and company systems, however everything that a franchise gives can be acquired via various other opportunities for much less than $500,000.

TROUBLE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you acquire a Painting Business Franchise in Irving you are acquiring the civil liberties to that organisation in a set territory. You are assigned a little number of zip codes where you have the civil liberties to business.
This is a HUGE issue. The simplest way to expand and also expand a painting company is by expanding geographically. Franchises remove this right.
Painter Choice is our advertising business. We deal with franchisees around the country. I always feel terrible for these company owner since they have such a tough time producing company.
A regular business in Atlanta, as an example, can utilize our lead service in North Atlanta to produce 20-30 leads each month.
But a franchisee in North Atlanta that just owns the civil liberties to 7-8 postal code can only produce 5-7 leads each month from our lead service.
In other words, if those franchisees had their own company, they might promptly raise their service 3-5 times! In various other terms, that suggests an boost from $500,000 to $2,000,000. This is a large limitation on your possible service development.
As a franchisee, your only alternative is to buy even more area, or such it up and keep your business tiny.
If a person else currently owns the nearby region, you don't have that choice.

TROUBLES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Essentially, franchisees and also the franchisor have misaligned motivations. The franchisor wishes to create as much revenue as feasible due to the fact that they get paid a set percent of earnings.
As the organisation proprietor, your objective is to optimize revenue.
I'm a large follower in lining up incentives, and in this instance, motivations are not straightened. They are playing a different game than you are. They intend to maximize earnings in all of their territories, and sell as numerous franchises as they can.

PROBLEM # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're getting a job. Let me reveal you why.
Since of royalties, your margins wind up being around 10% -12% besides service expenses.
In order to make $100k/year you would certainly need to have a $1,000,000 business.
Yet you can't have a $1,000,000 service in the little region. 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 wherefore?
That's a ludicrous amount of money to pay your franchise ... the same company that has an agreement that they hold over your head not allowing you to grow your organisation geographically.
They've got you by the balls.
Or, you can buy another area to expand. Once again ... I would certainly rather not have to pay for the right to grow my company. That's silly.
The majority of franchise business wind up in the $500,000-$ 600,000 range. You can most likely make $80,000-$ 110,000, sure. However you also don't ever before have adequate margin to hire other individuals to run the entire company, which is among the best benefits to building a company.
You most likely aren't generating sufficient profits to also hire truly strong staff members. In our company, we pay regarding 5-6% to our production supervisor who looks after $1,000,000 in production. That's $50,000-$ 60,000 each year for the manager. If you are just doing $500,000 a year in revenue, you can pay 5% ($ 25,000) to your production manager, which is not sufficient money for a strong employee.
Your choices are to pay a higher percent ( eliminating your profit margin), or get the job done yourself ( eliminating your way of living). Both of which are not extremely attractive options.
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IN SUMMARY:
You pay a great deal of money to restrict your development, you don't get to construct your own thing, and if you wish to expand geographically you require to spend for the legal rights to do so ... presuming nobody else already has the civil liberties to the territory you are shopping.
As a result of your constraints, and also the high nobility cost, you are dramatically limited in your capability to expand your revenue, construct a strong group, and construct a big business.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong business strategy
# 2-- They do it for the assistance as well as training supplied by the franchise business
# 3-- They do it for the area of other franchisees so they aren't alone
# 4-- They do it out of worry of failing
Now, let's consider options. Exactly how can you obtain all the advantages without paying the high rate of a franchise?

ADVANTAGE # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the expense of a franchise, you can purchase my business system. This is the exact company system we use as well as adhere to in our service, which corrected $3,000,000 in earnings in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My program consists of training and also support. When you get going with Painting Business Academy, you get access to the entire business 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 additionally join our personal members-only Facebook group. We have lots of concerns asked everyday from our participants.
Our neighborhood is highly engaged and also energetic.
People in our community even share their successes. Just recently somebody shared a Facebook advertising method, verbatim, that's eliminating it for their service.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more cash does not remove the fear of failing. With Painting Business Academy, you can obtain accessibility to a strong business strategy, business training, and all of the done-for-you forms as well as systems that are proven to build a million-dollar painting service.
You also obtain accessibility to the fantastic area of like-minded business owners doing the same point as you that we spoke about earlier. While you do pay 1/10th of the expense in advance (on the high end), you have NO nobilities to pay afterwards.
The likelihood of failure coincides whether you are in a franchise or running your very own service. Nonetheless, when you acquire a franchise, you are taking a bigger danger, implying there's a larger failure if you do fall short.

WHAT NOW?
Before you invest in a franchise business and also toss countless bucks down the bathroom for a proven system, you might intend to check out Painting Business Academy.
Painting Business Academy is likewise a tried and tested system to develop a million-dollar paint firm, with a neighborhood of thousands of others. Furthermore, there is no ongoing aristocracy, and also no geographical constraints to growth.
Get all of the advantages of a Painting Business Franchise in Irving for a portion of the price. Inspect the training course out right here and contact me if you have any questions.
The paint business is a great service 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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