Don't Buy A Painting Business Franchise in Kenosha WI

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Should You Buy a Painting Business Franchise in Kenosha WI ?

Don't Buy a Painting Business Franchise in Kenosha WI

• 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 Kenosha WI
• 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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• 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 Kenosha WI

If you are assuming of purchasing a paint franchise, quit right now.
I'm mosting likely to damage down the basic troubles with acquiring a painting franchise, and the alternative choices you have to begin a painting company.

This is based upon my experience growing a successful paint service where we thought about ending up being a franchise but chose a collaboration configuration rather. I hear the battles of franchisee's constantly, and also I feel for them.



Painting Business Franchise in Kenosha WI 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 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 Kenosha WI 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 Kenosha WI ?

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

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BR> I don't want you to wind up in the very same position that several franchisees locate themselves in.
There is a better means! We will certainly start with the troubles of a franchise, after that we'll enter into services.

ISSUE # 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 bigger franchises out there.
These franchise business vary from $10,000-$ 40,000 in franchise costs simply for the right to the franchise in a restricted number of postal code where you can operate your franchise business.
They also take 6-9% as an continuous nobility ... for life.
If you stay in business for 10 years and also you create $5,000,000 in profits, this franchise business ends up costing you upwards of $500,000. That's a steep cost to pay.
And of training course you get some assistance and also organisation systems, yet every little thing that a franchise supplies can be obtained via various other avenues for a lot less than $500,000.

PROBLEM # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you acquire a Painting Business Franchise in Kenosha WI you are acquiring the legal rights to that organisation in a established region. You are designated a tiny number of zip codes where you have the legal rights to the business.
This is a HUGE trouble. The simplest means to expand and also broaden a paint organisation is by expanding geographically. Franchise business take away this.
Painter Choice is our advertising and marketing firm. We work with franchisees around the country. I always really feel terrible for these entrepreneur due to the fact that they have such a tough time generating company.
A typical firm in Atlanta, for instance, can utilize our lead service in North Atlanta to create 20-30 leads monthly.
Yet a franchisee in North Atlanta who just has the rights to 7-8 postal code can only produce 5-7 leads monthly from our lead solution.
In other words, if those franchisees had their very own company, they might promptly increase their company 3-5 times! In other terms, that suggests an boost from $500,000 to $2,000,000. This is a enormous constraint on your potential business growth.
As a franchisee, your only alternative is to buy even more territory, or such it up and also maintain your service tiny.
If someone else already owns the close-by region, you don't have that choice.

PROBLEMS # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Essentially, franchisees and the franchisor have actually misaligned rewards. The franchisor intends to produce as much income as possible since they get paid a collection percent of revenue.
But as the company owner, your goal is to make best use of revenue.
I'm a huge believer in aligning rewards, and in this instance, incentives are not straightened. They are playing a various game than you are. They desire to take full advantage of profits in all of their territories, as well as sell as numerous franchises as they can.

TROUBLE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're purchasing a work. Let me reveal you why.
Due to nobilities, your margins wind up being around 10% -12% besides organisation costs.
In order to make $100k/year you would certainly need to have a $1,000,000 business.
You can not have a $1,000,000 service in the small region. And also if you can, you're stuck at a maximum of $100,000 on your own. You're paying $70k-$ 100k/year in aristocracies of what?
That's a ridiculous quantity of money to pay your franchise ... the same company that has an contract that they hold over your head not enabling you to grow your service geographically.
They've obtained you by the spheres.
Or, you can get an additional region to expand. But once again ... I 'd instead not need to pay for the right to grow my organisation. That's silly.
Most franchises end up in the $500,000-$ 600,000 variety. You can most likely make $80,000-$ 110,000, sure. You additionally don't ever before have adequate margin to hire various other people to run the whole company, which is one of the greatest advantages to building a company.
You possibly aren't producing sufficient earnings to even work with really strong staff members. In our firm, we pay about 5-6% to our production manager that manages $1,000,000 in production. That's $50,000-$ 60,000 per year for the manager. If you are just doing $500,000 a year in income, you can pay 5% ($ 25,000) to your manufacturing supervisor, which is not enough cash for a strong worker.
Your choices are to pay a greater percentage ( eliminating your revenue margin), or get the job done yourself ( eliminating your way of life). Both of which are not really eye-catching options.
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IN SUMMARY:
You pay a great deal of cash to restrict your growth, you do not reach construct your own point, as well as if you intend to expand geographically you require to pay for the legal rights to do so ... thinking nobody else already owns the rights to the area you are shopping.
As a result of your restrictions, and also the high aristocracy cost, you are dramatically restricted in your capability to grow your revenue, construct a strong group, and also develop a big organisation.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong organisation strategy
# 2-- They do it for the assistance and also training offered by the franchise business
# 3-- They do it for the community of other franchisees so they aren't alone
# 4-- They do it out of worry of failing
Currently, allow's consider remedies. Just how can you get all the advantages without paying the high rate of a franchise business?

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

BENEFIT # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My program includes training and assistance. When you start with Painting Business Academy, you obtain access to the entire company 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 sign up with Painting Business Academy, you additionally join our private members-only Facebook group. We have loads of concerns asked every day from our members.
Our community is highly engaged and also energetic.
People in our area also share their successes. Just the various other day somebody shared a Facebook marketing technique, word for word, that's eliminating it for their business.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more cash does not eliminate the anxiety of failure. With Painting Business Academy, you can get accessibility to a solid organisation plan, company training, as well as all of the done-for-you forms as well as systems that are shown to develop a million-dollar paint service.
You likewise obtain accessibility to the fantastic community of similar entrepreneurs doing the same point as you that we discussed earlier. While you do pay 1/10th of the price in advance (on the high-end), you have NO royalties to pay after that.
The possibility of failing coincides whether you are in a franchise or running your very own organisation. When you get a franchise, you are taking a bigger risk, meaning there's a bigger failure if you do fail.

WHAT NOW?
Prior to you purchase a franchise and throw hundreds of bucks down the toilet for a tried and tested system, you may desire to have a look at Painting Business Academy.
Painting Business Academy is additionally a tried and tested system to construct a million-dollar paint firm, with a area of hundreds of others. Furthermore, there is no ongoing royalty, and no geographical constraints to development.
Obtain every one of the benefits of a Painting Business Franchise in Kenosha WI for a portion of the cost. Inspect the course out right here as well as call me if you have any kind of inquiries.
The paint business is a great service to be in! I wish you'll be a component of it quickly.
Great 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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