Don't Buy A Painting Business Franchise in Jersey City NJ

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Should You Buy a Painting Business Franchise in Jersey City NJ ?

Don't Buy a Painting Business Franchise in Jersey City NJ

• 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 Jersey City NJ
• 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 Jersey City NJ

If you are thinking of purchasing a painting franchise, stop today.
I'm mosting likely to damage down the basic troubles with buying a paint franchise, as well as the alternative choices you need to begin a painting company.

This is based on my experience growing a successful paint service where we considered becoming a franchise however went with a partnership arrangement rather. I listen to the struggles of franchisee's regularly, and also I really feel for them.



Painting Business Franchise in Jersey City NJ 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 Jersey City NJ 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 Jersey City NJ ?

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Is it better to start a painting business or buy a Painting Business Franchise in Jersey City NJ ?

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BR> I do not want you to wind up in the same setting that many franchisees locate themselves in.
There is a much better means! We will certainly start with the problems of a franchise, after that we'll enter into remedies.

TROUBLE # 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 around.
These franchises range from $10,000-$ 40,000 in franchise business fees simply for the right to the franchise business in a limited variety of postal code where you can run your franchise business.
They likewise take 6-9% as an continuous royalty ... permanently.
If you stay in business for 10 years as well as you create $5,000,000 in earnings, this franchise ends up costing you upwards of $500,000. That's a high price to pay.
And of program you obtain some support and service systems, but whatever that a franchise business provides can be gotten through various other opportunities for a lot less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you get a Painting Business Franchise in Jersey City NJ you are purchasing the rights to that organisation in a set area. You are appointed a handful of postal code where you have the civil liberties to business.
This is a HUGE problem. The most convenient method to grow as well as increase a painting business is by expanding geographically. Franchises take away this.
Painter Choice is our advertising firm. We deal with franchisees throughout the nation. I constantly feel horrible for these company owner due to the fact that they have such a difficult time creating organisation.
A regular firm in Atlanta, as an example, can utilize our lead service in North Atlanta to create 20-30 leads monthly.
A franchisee in North Atlanta who just owns the civil liberties to 7-8 zip codes can only generate 5-7 leads per month from our lead service.
To put it simply, if those franchisees had their own service, they might right away increase their organisation 3-5 times! In other terms, that means an boost from $500,000 to $2,000,000. This is a huge restriction on your potential company development.
As a franchisee, your only option is to acquire more region, or such it up as well as keep your organisation little.
If a person else currently possesses the neighboring region, 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 motivations. The franchisor wants to create as much revenue as possible due to the fact that they make money a collection percent of income.
As the organisation proprietor, your objective is to take full advantage of revenue.
I'm a large believer in straightening motivations, and also in this instance, incentives are not lined up. They are playing a different game than you are. They desire to make best use of revenue in all of their areas, as well as sell as several franchise business as they can.

ISSUE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're purchasing a task. Allow me reveal you why.
As a result of nobilities, your margins finish up being around 10% -12% after all overhead.
In order to make $100k/year you 'd have to have a $1,000,000 organisation.
However you can't have a $1,000,000 service in the tiny region. And also even 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 crazy amount of cash to pay your franchise business ... the same business that has an agreement that they hold over your head not allowing you to expand your company geographically.
They've obtained you by the spheres.
Or, you can purchase one more territory to grow. Yet once more ... I 'd instead not have to spend for the right to grow my organisation. That's silly.
Most franchises end up in the $500,000-$ 600,000 range. You can probably make $80,000-$ 110,000, sure. You also do not ever have enough margin to work with other people to run the entire service, which is one of the greatest benefits to building a company.
You probably aren't generating enough revenue to also work with really strong workers. In our company, we pay concerning 5-6% to our manufacturing supervisor that looks after $1,000,000 in manufacturing. That's $50,000-$ 60,000 annually for the manager. However if you are only doing $500,000 a year in profits, you can pay 5% ($ 25,000) to your manufacturing manager, which is inadequate money for a strong employee.
Your alternatives are to pay a greater portion (killing your profit margin), or do the job on your own ( eliminating your way of living). Both of which are not very attractive alternatives.
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IN SUMMARY:
You pay a great deal of money to limit your development, you do not obtain to develop your own point, and also if you wish to expand geographically you require to pay for the civil liberties to do so ... assuming nobody else currently possesses the civil liberties to the region you are trying to purchase.
Due to your restrictions, and the high nobility cost, you are considerably limited in your ability to grow your revenue, build a solid team, and construct a big business.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong service plan
# 2-- They do it for the support and 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 worry of failure
Currently, let's consider services. How can you obtain all the advantages without paying the steep price of a franchise?

ADVANTAGE # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the cost of a franchise, you can acquire my business system. This is the specific company system we use and adhere to in our service, which did over $3,000,000 in income in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My training course includes training and support. When you get begun with Painting Business Academy, you get accessibility to the entire organisation system and also 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 additionally join our personal members-only Facebook group. We have dozens of questions asked daily from our participants.
Our neighborhood is highly engaged and energetic.
Individuals in our community also share their successes. Simply recently somebody shared a Facebook advertising strategy, word for word, that's killing it for their business.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more money does not get rid of the worry of failing. With Painting Business Academy, you can get access to a strong company plan, company training, and also all of the done-for-you types as well as systems that are shown to build a million-dollar paint business.
You likewise get accessibility to the remarkable community of like-minded business owners doing the exact same point as you that we discussed previously. While you do pay 1/10th of the expense up front (on the high end), you have NO nobilities to pay after that.
The possibility of failure is the very same whether you remain in a franchise business or running your own service. However, when you buy a franchise business, you are taking a bigger risk, indicating there's a bigger failing if you do stop working.

SO WHAT NOW?
Prior to you spend in a franchise business and toss countless dollars down the toilet for a tried and tested system, you might intend to look into Painting Business Academy.
Painting Business Academy is additionally a tried and tested system to build a million-dollar painting business, with a community of thousands of others. On top of that, there is no continuous aristocracy, as well as no geographical limitations to growth.
Obtain all of the advantages of a Painting Business Franchise in Jersey City NJ for a fraction of the rate. Examine the training course out below as well as contact me if you have any inquiries.
The paint business is a excellent company to be in! I wish you'll belong of it quickly.
Excellent good 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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