Don't Buy A Painting Business Franchise in Layton UT

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Should You Buy a Painting Business Franchise in Layton UT ?

Don't Buy a Painting Business Franchise in Layton UT

• 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 Layton UT
• 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 Layton UT

If you are thinking of getting a paint franchise business, quit now.
I'm going to break down the basic issues with getting a paint franchise, and the different choices you need to start a paint business.

This is based on my experience growing a successful paint company where we thought about coming to be a franchise business yet selected a partnership arrangement instead. I listen to the battles of franchisee's constantly, and I really feel for them.



Painting Business Franchise in Layton UT 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 Layton UT 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 Layton UT ?

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

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BR> I do not desire you to end up in the exact same placement that several franchisees find themselves in.
There is a much better means! We will certainly start with the troubles of a franchise, after that we'll get involved in services.

ISSUE # 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 larger franchises around.
These franchise business range from $10,000-$ 40,000 in franchise charges simply for the right to the franchise business in a limited number of postal code where you can run your franchise business.
They additionally take 6-9% as an recurring royalty ... for life.
If you are in organisation for 10 years as well as you create $5,000,000 in revenue, this franchise business finishes up costing you upwards of $500,000. That's a steep price to pay.
And of program you obtain some assistance and company systems, yet whatever that a franchise offers can be acquired through various other opportunities for much less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you buy a Painting Business Franchise in Layton UT you are getting the rights to that organisation in a set region. You are assigned a handful of postal code where you have the rights to business.
This is a HUGE trouble. The most convenient means to grow and also expand a paint organisation is by broadening geographically. Franchise business take away this.
Painter Choice is our advertising business. We function with franchisees throughout the nation. I always feel horrible for these entrepreneur since they have such a tough time generating business.
A common company in Atlanta, for example, can use our lead solution in North Atlanta to generate 20-30 leads monthly.
Yet a franchisee in North Atlanta who only owns the legal rights to 7-8 zip codes can only produce 5-7 leads per month from our lead solution.
In other words, if those franchisees had their very own organisation, they could promptly increase their organisation 3-5 times! In various other terms, that implies an rise from $500,000 to $2,000,000. This is a massive constraint on your possible service growth.
As a franchisee, your only alternative is to buy even more region, or such it up and also maintain your business little.
However if somebody else currently owns the close-by territory, you don't have that alternative.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Essentially, franchisees as well as the franchisor have misaligned motivations. The franchisor desires to create as much earnings as feasible due to the fact that they get paid a collection percent of revenue.
Yet as the company proprietor, your goal is to maximize earnings.
I'm a large believer in lining up motivations, and in this instance, incentives are not lined up. They are playing a different video game than you are. They intend to make the most of earnings in all of their areas, and also offer as lots of franchises as they can.

PROBLEM # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're getting a work. Let me show you why.
Due to royalties, your margins wind up being around 10% -12% nevertheless overhead.
In order to make $100k/year you would certainly need to have a $1,000,000 service.
However you can not have a $1,000,000 company in the little area. As well as even if you can, you're stuck at a maximum of $100,000 on your own. You're paying $70k-$ 100k/year in royalties for what?
That's a ludicrous amount of money to pay your franchise business ... the same firm that has an contract that they hold over your head not enabling you to grow your business geographically.
They've obtained you by the spheres.
Or, you can get another territory to expand. Once more ... I would certainly rather not have to pay for the right to grow my business. That's absurd.
Many franchise business wind up in the $500,000-$ 600,000 array. You can probably make $80,000-$ 110,000, sure. Yet you also do not ever before have sufficient margin to work with other individuals to run the entire business, which is one of the greatest advantages to constructing a business.
You possibly aren't producing sufficient profits to even employ really strong staff members. In our business, we pay regarding 5-6% to our manufacturing manager who looks after $1,000,000 in production. That's $50,000-$ 60,000 per year for the supervisor. If you are only doing $500,000 a year in revenue, you can pay 5% ($ 25,000) to your production manager, which is not sufficient cash for a strong employee.
Your choices are to pay a greater percentage ( eliminating your revenue margin), or get the job done yourself ( eliminating your way of living). Both of which are not very appealing options.
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IN SUMMARY:
You pay a great deal of cash to limit your development, you do not obtain to construct your very own point, and if you wish to expand geographically you need to pay for the civil liberties to do so ... presuming no one else currently possesses the legal rights to the territory you are attempting to purchase.
Due to your constraints, as well as the high aristocracy cost, you are substantially restricted in your capacity to expand your profits, develop a strong team, and develop a big service.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid business strategy
# 2-- They do it for the support as well as training provided by the franchise
# 3-- They do it for the area of various other franchisees so they aren't alone
# 4-- They do it out of fear of failure
Now, allow's check out options. 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 expense of a franchise, you can purchase my organisation system. This is the exact company system we utilize as well as comply with in our service, which corrected $3,000,000 in income in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My program includes training and support. When you begin with Painting Business Academy, you obtain access to the whole service 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 sign up with Painting Business Academy, you also join our personal members-only Facebook group. We have dozens of inquiries asked everyday from our members.
Our community is extremely engaged and also energetic.
People in our community even share their successes. Just a few days ago somebody shared a Facebook advertising strategy, word for word, that's eliminating it for their business.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more money does not remove the fear of failure. With Painting Business Academy, you can get access to a strong company plan, company training, as well as all of the done-for-you types and systems that are proven to develop a million-dollar painting company.
You likewise obtain accessibility to the amazing community of similar business owners doing the same thing as you that we discussed previously. While you do pay 1/10th of the expense up front (on the luxury), you have NO aristocracies to pay afterwards.
The likelihood of failure is the same whether you remain in a franchise business or running your own company. When you buy a franchise business, you are taking a bigger danger, indicating there's a larger failing if you do fail.

SO WHAT NOW?
Prior to you buy a franchise and also toss thousands of dollars down the bathroom for a tested system, you could wish to take a look at Painting Business Academy.
Painting Business Academy is likewise a tested system to construct a million-dollar paint firm, with a area of numerous others. Additionally, there is no recurring royalty, and no geographical constraints to growth.
Get all of the benefits of a Painting Business Franchise in Layton UT for a portion of the cost. Check the program out right here and also call me if you have any type of inquiries.
The paint business is a wonderful service to be in! I hope you'll be a part 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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