Don't Buy A Painting Business Franchise in Lakewood CA

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

Should You Buy a Painting Business Franchise in Lakewood CA ?

Don't Buy a Painting Business Franchise in Lakewood 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 Lakewood 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
• 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 Lakewood CA

If you are assuming of purchasing a paint franchise business, stop right currently.
I'm mosting likely to damage down the essential problems with buying a painting franchise business, and the alternate choices you need to start a paint business.

This is based on my experience expanding a successful paint organisation where we considered coming to be a franchise yet chose for a partnership configuration rather. I listen to the struggles of franchisee's frequently, and also I feel for them.



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

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What are the disadvantages of a Painting Business Franchise in Lakewood CA ?

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

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BR> I don't want you to end up in the exact same position that lots of franchisees locate themselves in.
There is a better way! We will certainly start with the problems of a franchise business, then 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 larger franchises available.
These franchise business range from $10,000-$ 40,000 in franchise costs just for the right to the franchise business in a limited variety of zip codes where you can run your franchise.
They additionally take 6-9% as an recurring nobility ... for life.
If you are in service for 10 years and you produce $5,000,000 in earnings, this franchise business ends up costing you upwards of $500,000. That's a high rate to pay.
And also of training course you get some support as well as business systems, yet everything that a franchise gives can be gotten through various other opportunities for much less than $500,000.

PROBLEM # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you purchase a Painting Business Franchise in Lakewood CA you are acquiring the civil liberties to that service in a set area. You are designated a handful of postal code where you have the civil liberties to business.
This is a HUGE issue. The easiest method to expand and also broaden a paint organisation is by increasing geographically. Franchises take away this.
Painter Choice is our advertising company. We collaborate with franchisees throughout the country. I always really feel awful for these company owners due to the fact that they have such a tough time generating organisation.
A regular business in Atlanta, for instance, can utilize our lead service in North Atlanta to generate 20-30 leads per month.
A franchisee in North Atlanta that only possesses the civil liberties to 7-8 zip codes can just create 5-7 leads per month from our lead service.
To put it simply, if those franchisees had their very own business, they might right away raise their organisation 3-5 times! In other terms, that implies an boost from $500,000 to $2,000,000. This is a massive constraint on your prospective service growth.
As a franchisee, your only alternative is to purchase more territory, or such it up and maintain your service small.
Yet if a person else currently owns the close-by territory, 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 misaligned rewards. The franchisor intends to create as much profits as feasible due to the fact that they obtain paid a collection percent of profits.
As the business proprietor, your objective is to optimize earnings.
I'm a big follower in straightening incentives, as well as in this case, rewards are not straightened. They are playing a different game than you are. They wish to take full advantage of revenue in all of their areas, and offer as many franchises as they can.

PROBLEM # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're acquiring a task. Let me reveal you why.
Due to the fact that of royalties, 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 service.
You can not have a $1,000,000 company in the little region. And also even if you can, you're stuck at a maximum of $100,000 for on your own. You're paying $70k-$ 100k/year in royalties of what?
That's a ludicrous amount of cash to pay your franchise ... the exact same company that has an contract that they hold over your head not permitting you to grow your service geographically.
They've obtained you by the spheres.
Or, you can buy an additional territory to grow. Once again ... I 'd rather not have to pay for the right to grow my organisation. That's silly.
Many franchises end up in the $500,000-$ 600,000 array. You can possibly make $80,000-$ 110,000, sure. You likewise don't ever before have adequate margin to work with various other individuals to run the entire business, which is one of the best benefits to developing a business.
You possibly aren't generating enough profits to even hire actually solid workers. In our company, we pay about 5-6% to our manufacturing manager that oversees $1,000,000 in production. That's $50,000-$ 60,000 per year for the supervisor. However if you are only doing $500,000 a year in revenue, you can pay 5% ($ 25,000) to your manufacturing manager, which is not sufficient money for a solid employee.
Your choices are to pay a higher percentage (killing your earnings margin), or do the task yourself (killing your way of living). Both of which are not extremely eye-catching options.
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IN SUMMARY:
You pay a lot of money to restrict your growth, you do not obtain to construct your very own thing, as well as if you intend to grow geographically you need to spend for the legal rights to do so ... presuming nobody else already possesses the civil liberties to the region you are shopping.
Because of your restrictions, and also the high royalty cost, you are dramatically limited in your capacity to grow your income, develop a strong group, and develop a large business.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong organisation plan
# 2-- They do it for the support and also training supplied by the franchise
# 3-- They do it for the community of other franchisees so they aren't alone
# 4-- They do it out of concern of failing
Now, allow's take a look at remedies. Just how can you get 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 expense of a franchise, you can purchase my business system. This is the exact organisation 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 program includes training and assistance. When you get going with Painting Business Academy, you get accessibility to the entire organisation system and 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 also join our private members-only Facebook group. We have lots of questions asked daily from our participants.
Our neighborhood is very engaged and active.
Individuals in our area even share their successes. Just a few days ago someone shared a Facebook advertising and marketing approach, verbatim, that's eliminating it for their service.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more money does not remove the anxiety of failing. With Painting Business Academy, you can get accessibility to a solid business strategy, organisation training, and also all of the done-for-you types and also systems that are verified to develop a million-dollar painting service.
You likewise get accessibility to the incredible neighborhood of similar business owners doing the same point as you that we discussed earlier. While you do pay 1/10th of the expense in advance (on the high-end), you have NO aristocracies to pay afterwards.
The probability of failing coincides whether you are in a franchise business or running your own business. Nevertheless, when you purchase a franchise business, you are taking a larger threat, suggesting there's a bigger failing if you do stop working.

SO WHAT NOW?
Prior to you spend in a franchise and toss thousands of bucks down the commode for a tried and tested system, you might intend to take a look at Painting Business Academy.
Painting Business Academy is also a tested system to construct a million-dollar paint company, with a area of hundreds of others. On top of that, there is no ongoing aristocracy, as well as no geographical restrictions to growth.
Get all of the benefits of a Painting Business Franchise in Lakewood CA for a portion of the rate. Examine the course out right here as well as call me if you have any type of inquiries.
The paint business is a wonderful company to be in! I hope you'll belong of it soon.
All the best!

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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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