Don't Buy A Painting Business Franchise in Las Cruces NM

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Should You Buy a Painting Business Franchise in Las Cruces NM ?

Don't Buy a Painting Business Franchise in Las Cruces NM

• 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 Las Cruces NM
• 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 Las Cruces NM

If you are thinking about purchasing a painting franchise, quit right currently.
I'm mosting likely to damage down the essential problems with buying a painting franchise, as well as the alternate options you have to start a paint business.

This is based upon my experience growing a effective paint company where we took into consideration coming to be a franchise business yet opted for a partnership configuration rather. I listen to the battles of franchisee's frequently, and I feel for them.



Painting Business Franchise in Las Cruces NM FAQs
How much does it cost to open your own franchise?

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How much is a Five Star Painting Franchise?

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Is a Painting Business Franchise in Las Cruces NM a good investment?

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Is it hard to start a painting business?

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What are the disadvantages of a Painting Business Franchise in Las Cruces NM ?

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Is it better to start a painting business or buy a Painting Business Franchise in Las Cruces NM ?

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BR> I do not want you to wind up in the same position that many franchisees locate themselves in.
There is a far better way! We will certainly start with the troubles of a franchise, after that we'll enter into options.

TROUBLE # 1: THE REAL COST OF A PAINTING FRANCHISE
CertaPro Painters, Five Star Painting, 360 Painting, as well as WOW-1-Day Painting are a few of the bigger franchises available.
These franchises range from $10,000-$ 40,000 in franchise business charges simply for the right to the franchise in a minimal number of postal code where you can operate your franchise.
They likewise take 6-9% as an continuous aristocracy ... for life.
If you stay in business for 10 years as well as you produce $5,000,000 in income, this franchise business ends up costing you upwards of $500,000. That's a steep rate to pay.
And certainly you obtain some assistance and also business systems, yet everything that a franchise supplies can be gotten via various other opportunities for much less than $500,000.

PROBLEM # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you acquire a Painting Business Franchise in Las Cruces NM you are acquiring the rights to that organisation in a established territory. You are appointed a handful of postal code where you have the legal rights to the organisation.
This is a HUGE problem. The simplest way to expand and expand a paint company is by broadening geographically. Franchises eliminate this right.
Painter Choice is our advertising and marketing company. We deal with franchisees throughout the nation. I constantly really feel terrible for these organisation owners because they have such a difficult time producing service.
A regular company in Atlanta, for example, can utilize our lead service in North Atlanta to generate 20-30 leads each month.
A franchisee in North Atlanta who just possesses the legal rights to 7-8 zip codes can only generate 5-7 leads per month from our lead solution.
Simply put, if those franchisees had their own business, they can immediately raise their organisation 3-5 times! In various other terms, that implies an rise from $500,000 to $2,000,000. This is a substantial limitation on your potential business growth.
As a franchisee, your only option is to acquire more territory, or such it up and also keep your company small.
If someone else currently possesses the close-by region, you do not have that choice.

PROBLEMS # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees and also the franchisor have misaligned motivations. The franchisor wishes to create as much profits as feasible due to the fact that they make money a set percent of income.
However as the business proprietor, your goal is to maximize earnings.
I'm a big follower in aligning motivations, and in this case, motivations are not straightened. They are playing a various game than you are. They intend to make the most of earnings in all of their areas, and also offer as many franchises as they can.

PROBLEM # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're buying a task. Let me show you why.
Due to aristocracies, your margins end up being around 10% -12% after all service expenditures.
In order to make $100k/year you 'd have to have a $1,000,000 business.
You can not have a $1,000,000 organisation in the small territory. And also even 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 ridiculous quantity of money to pay your franchise business ... the same firm that has an contract that they hold over your head not allowing you to expand your company geographically.
They've obtained you by the spheres.
Or, you can acquire an additional area to expand. However again ... I 'd instead not have to pay for the right to expand my business. That's unreasonable.
Many franchise business finish up in the $500,000-$ 600,000 variety. You can possibly make $80,000-$ 110,000, sure. However you additionally don't ever before have adequate margin to hire other individuals to run the entire service, which is among the best benefits to developing a firm.
You probably aren't producing sufficient profits to even hire truly solid staff members. In our firm, we pay about 5-6% to our manufacturing supervisor that supervises $1,000,000 in production. That's $50,000-$ 60,000 per year for the supervisor. But if you are only doing $500,000 a year in profits, you can pay 5% ($ 25,000) to your production supervisor, which is not enough money for a strong worker.
Your options are to pay a higher portion ( eliminating your profit margin), or do the task on your own ( eliminating your way of living). Both of which are not very appealing choices.
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IN SUMMARY:
You pay a great deal of money to restrict your development, you don't obtain to build your own point, and if you wish to expand geographically you require to pay for the rights to do so ... assuming no one else already owns the rights to the region you are attempting to get.
Because of your constraints, and the high aristocracy fee, you are substantially restricted in your capability to expand your profits, develop a strong team, as well as build a huge organisation.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid company plan
# 2-- They do it for the support and training provided by the franchise
# 3-- They do it for the neighborhood of other franchisees so they aren't alone
# 4-- They do it out of fear of failure
Now, let's take a look at remedies. How can you get all the benefits without paying the steep price of a franchise business?

ADVANTAGE # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the price of a franchise, you can acquire my organisation system. This is the exact organisation system we use as well as follow in our organisation, which corrected $3,000,000 in earnings in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My course includes training and also support. When you begin with Painting Business Academy, you obtain accessibility to the entire company system and also all of the training that supports that system.

BENEFIT # 3: THEY DO IT FOR THE COMMUNITY SO THEY AREN'T ALONE
When you sign up with Painting Business Academy, you additionally join our exclusive members-only Facebook team. We have lots of concerns asked on a daily basis from our members.
Our community is very engaged and active.
Individuals in our area also share their successes. Just recently someone shared a Facebook advertising and marketing technique, verbatim, that's killing it for their organisation.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more cash does not get rid of the concern of failing. With Painting Business Academy, you can obtain access to a solid organisation plan, service training, as well as all of the done-for-you types and systems that are shown to build a million-dollar paint company.
You also get accessibility to the fantastic neighborhood of like-minded entrepreneurs doing the very 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 royalties to pay afterwards.
The probability of failure coincides whether you are in a franchise business or running your own organisation. When you buy a franchise, you are taking a bigger danger, implying there's a larger failing if you do fail.

WHAT NOW?
Before you purchase a franchise business and also throw thousands of bucks down the toilet for a tested system, you may intend to take a look at Painting Business Academy.
Painting Business Academy is likewise a proven system to develop a million-dollar paint business, with a area of thousands of others. Additionally, there is no ongoing aristocracy, and no geographical limitations to development.
Get every one of the advantages of a Painting Business Franchise in Las Cruces NM for a portion of the cost. Inspect the course out here and also call me if you have any questions.
The painting business is a terrific service to be in! I hope you'll be a component 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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