Don't Buy A Painting Business Franchise in Madison WI

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

Should You Buy a Painting Business Franchise in Madison WI ?

Don't Buy a Painting Business Franchise in Madison 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 Madison 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
• 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 Madison WI

If you are thinking about acquiring a paint franchise business, quit now.
I'm going to break down the fundamental troubles with acquiring a paint franchise business, and also the different choices you have to begin a painting business.

This is based upon my experience growing a successful paint organisation where we thought about coming to be a franchise but opted for a collaboration arrangement rather. I listen to the struggles of franchisee's constantly, and also I really feel for them.



Painting Business Franchise in Madison 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 much do painters make?

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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 Madison 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 Madison WI ?

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

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BR> I do not want you to wind up in the same position that several franchisees discover themselves in.
There is a better means! We will begin with the problems of a franchise, then we'll enter into remedies.

ISSUE # 1: THE REAL COST OF A PAINTING FRANCHISE
CertaPro Painters, Five Star Painting, 360 Painting, and WOW-1-Day Painting are a few of the bigger franchise business out there.
These franchise business range from $10,000-$ 40,000 in franchise business charges just for the right to the franchise business in a minimal variety of postal code where you can operate your franchise business.
They likewise take 6-9% as an recurring nobility ... for life.
If you stay in business for 10 years and you generate $5,000,000 in revenue, this franchise winds up costing you upwards of $500,000. That's a steep cost to pay.
And also naturally you get some assistance and company systems, however whatever that a franchise offers can be gotten with various other methods for much less than $500,000.

TROUBLE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you acquire a Painting Business Franchise in Madison WI you are getting the legal rights to that service in a established region. You are designated a handful of zip codes where you have the civil liberties to business.
This is a HUGE trouble. The most convenient method to expand and increase a painting organisation is by increasing geographically. Franchises take away this.
Painter Choice is our advertising and marketing company. We collaborate with franchisees all over the country. I constantly feel horrible for these company owner because they have such a difficult time generating organisation.
A typical company in Atlanta, as an example, can use our lead service in North Atlanta to produce 20-30 leads monthly.
However a franchisee in North Atlanta who just possesses the civil liberties to 7-8 zip codes can only generate 5-7 leads monthly from our lead service.
Simply put, if those franchisees had their own organisation, they could promptly enhance their service 3-5 times! In other terms, that suggests an increase from $500,000 to $2,000,000. This is a substantial restriction on your prospective service development.
As a franchisee, your only choice is to buy even more area, or such it up and also maintain your service small.
However if somebody else currently has the neighboring region, you don't have that choice.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Fundamentally, franchisees as well as the franchisor have actually misaligned rewards. The franchisor wishes to generate as much earnings as feasible due to the fact that they make money a collection percent of earnings.
As the business proprietor, your goal is to optimize earnings.
I'm a big follower in straightening rewards, and in this case, incentives are not aligned. They are playing a various game than you are. They desire to maximize income in all of their areas, and also sell as lots of franchise business as they can.

ISSUE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're buying a work. Allow me show you why.
Due to royalties, your margins end up being around 10% -12% nevertheless overhead.
In order to make $100k/year you 'd need to have a $1,000,000 service.
However you can not have a $1,000,000 business in the small territory. And also also if you can, you're stuck at a maximum of $100,000 on your own. You're paying $70k-$ 100k/year in royalties wherefore?
That's a ludicrous quantity of cash to pay your franchise ... the exact same company that has an agreement that they hold over your head not permitting you to expand your service geographically.
They've obtained you by the spheres.
Or, you can acquire another region to expand. Again ... I 'd instead not have to pay for the right to grow my organisation. That's silly.
Many franchises wind up in the $500,000-$ 600,000 range. You can possibly make $80,000-$ 110,000, sure. But you likewise do not ever before have enough margin to work with various other individuals to run the entire organisation, which is among the best advantages to building a business.
You possibly aren't producing enough revenue to even work with really strong employees. In our company, we pay regarding 5-6% to our manufacturing manager that supervises $1,000,000 in production. That's $50,000-$ 60,000 each year for the manager. If you are only doing $500,000 a year in profits, you can pay 5% ($ 25,000) to your manufacturing manager, which is not sufficient money for a strong staff member.
Your alternatives are to pay a greater portion (killing your profit margin), or get the job done on your own (killing your lifestyle). Both of which are not extremely attractive options.
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IN SUMMARY:
You pay a lot of cash to restrict your growth, you do not reach construct your very own thing, as well as if you want to expand geographically you require to spend for the legal rights to do so ... assuming nobody else already has the legal rights to the area you are trying to buy.
As a result of your constraints, as well as the high royalty charge, you are dramatically restricted in your capacity to grow your income, build a strong team, and build a large company.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid service strategy
# 2-- They do it for the support and also 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 failing
Now, let's consider services. How can you get all the advantages without paying the high 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 business system. This is the exact company system we utilize as well as adhere to 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 course includes training and support. When you start with Painting Business Academy, you get accessibility to the entire service system as well as all of the training that goes along with 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 exclusive members-only Facebook team. We have dozens of inquiries asked each day from our participants.
Our area is very involved as well as energetic.
Individuals in our neighborhood even share their successes. Simply a few days ago somebody shared a Facebook advertising method, verbatim, that's killing it for their company.

ADVANTAGE # 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 business plan, company training, and also all of the done-for-you types and also systems that are confirmed to construct a million-dollar painting business.
You also get access to the amazing community of similar entrepreneurs doing the same point as you that we spoke about previously. While you do pay 1/10th of the cost in advance (on the high end), you have NO royalties to pay afterwards.
The possibility of failure coincides whether you are in a franchise or running your own organisation. However, when you buy a franchise business, you are taking a larger risk, suggesting there's a larger failing if you do fail.

SO WHAT NOW?
Prior to you buy a franchise business as well as throw countless dollars down the commode for a tried and tested system, you could intend to take 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 numerous others. In enhancement, there is no ongoing royalty, and no geographical restrictions to growth.
Obtain every one of the benefits of a Painting Business Franchise in Madison WI for a fraction of the price. Examine the training course out here as well as call me if you have any kind of inquiries.
The paint business is a terrific service to be in! I hope you'll belong of it soon.
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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