Don't Buy A Painting Business Franchise in McAllen TX

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Should You Buy a Painting Business Franchise in McAllen TX ?

Don't Buy a Painting Business Franchise in McAllen TX

• 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 McAllen TX
• 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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• About
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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 McAllen TX

If you are thinking about purchasing a painting franchise business, quit right currently.
I'm going to damage down the fundamental troubles with purchasing a paint franchise business, as well as the alternative choices you need to begin a paint business.

This is based upon my experience growing a effective paint business where we took into consideration becoming a franchise however chose a collaboration arrangement rather. I listen to the battles of franchisee's constantly, as well as I feel for them.



Painting Business Franchise in McAllen TX 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 a Painting Business Franchise in McAllen TX a good investment?

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What are the disadvantages of a Painting Business Franchise in McAllen TX ?

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Is it better to start a painting business or buy a Painting Business Franchise in McAllen TX ?

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BR> I do not desire you to end up in the very same position that several franchisees discover themselves in.
There is a far better means! We will start with the troubles of a franchise business, after that we'll get right into services.

TROUBLE # 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 larger franchise business out there.
These franchise business vary from $10,000-$ 40,000 in franchise charges simply for the right to the franchise in a limited number of postal code where you can run your franchise business.
They additionally take 6-9% as an recurring nobility ... for life.
If you are in organisation for 10 years and you produce $5,000,000 in revenue, this franchise ends up costing you upwards of $500,000. That's a steep cost to pay.
And naturally you get some support as well as business systems, yet every little thing that a franchise offers can be acquired through other avenues for a lot less than $500,000.

PROBLEM # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you buy a Painting Business Franchise in McAllen TX you are purchasing the civil liberties to that service in a established territory. You are assigned a little number of zip codes where you have the rights to the company.
This is a HUGE trouble. The most convenient method to expand and broaden a painting organisation is by increasing geographically. Franchise business take away this.
Painter Choice is our marketing business. We deal with franchisees throughout the nation. I always really feel horrible for these local business owner since they have such a difficult time producing company.
A normal company in Atlanta, for example, can utilize our lead service in North Atlanta to create 20-30 leads each month.
Yet a franchisee in North Atlanta that just possesses the civil liberties to 7-8 zip codes can just create 5-7 leads monthly from our lead service.
To put it simply, if those franchisees had their own organisation, they might promptly boost their business 3-5 times! In various other terms, that indicates an increase from $500,000 to $2,000,000. This is a huge limitation on your possible service growth.
As a franchisee, your only alternative is to acquire even more territory, or such it up and keep your business tiny.
If a person else already has the close-by territory, you do not have that choice.

TROUBLES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Essentially, franchisees and the franchisor have misaligned motivations. The franchisor intends to produce as much earnings as feasible due to the fact that they earn money a collection percent of revenue.
Yet as the company proprietor, your objective is to make the most of profit.
I'm a large believer in lining up rewards, and also in this situation, motivations are not lined up. They are playing a different game than you are. They intend to optimize earnings in all of their territories, and also market as many franchise business as they can.

ISSUE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're acquiring a task. Let me show you why.
Due to royalties, your margins wind up being around 10% -12% after all overhead.
In order to make $100k/year you 'd need to have a $1,000,000 business.
Yet you can't have a $1,000,000 company in the little territory. As well as also if you can, you're stuck at a optimum of $100,000 on your own. You're paying $70k-$ 100k/year in royalties wherefore?
That's a ludicrous amount of cash to pay your franchise business ... the same company that has an contract that they hold over your head not allowing you to expand your business geographically.
They've obtained you by the balls.
Or, you can get another region to grow. Again ... I 'd rather not have to pay for the right to grow my company. That's ridiculous.
A lot of franchises end up in the $500,000-$ 600,000 array. You can possibly make $80,000-$ 110,000, sure. But you likewise don't ever before have enough margin to hire other individuals to run the entire company, which is among the best benefits to constructing a firm.
You most likely aren't producing enough revenue to even hire truly solid workers. In our company, we pay concerning 5-6% to our manufacturing supervisor who supervises $1,000,000 in manufacturing. That's $50,000-$ 60,000 annually for the manager. If you are only doing $500,000 a year in income, you can pay 5% ($ 25,000) to your manufacturing manager, which is not sufficient cash for a solid staff member.
Your choices are to pay a higher percent (killing your revenue margin), or get the job done yourself ( eliminating your way of life). Both of which are not really attractive choices.
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IN SUMMARY:
You pay a great deal of cash to restrict your development, you don't get to construct your very own thing, and also if you desire to expand geographically you need to spend for the legal rights to do so ... assuming nobody else already has the legal rights to the area you are shopping.
Due to your limitations, as well as the high royalty cost, you are substantially limited in your ability to expand your earnings, construct a strong group, and build a huge business.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid service strategy
# 2-- They do it for the assistance 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 failure
Now, let's check out remedies. Just how can you obtain all the advantages without paying the steep cost of a franchise?

BENEFIT # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the cost of a franchise business, you can purchase my service system. This is the specific service system we make use of and follow in our organisation, which corrected $3,000,000 in income in 2016.

BENEFIT # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My program includes training and support. When you begin with Painting Business Academy, you get accessibility to the whole business system and 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 join Painting Business Academy, you additionally join our exclusive members-only Facebook group. We have loads of concerns asked each day from our members.
Our neighborhood is highly engaged and also energetic.
Individuals in our area also share their successes. Simply the various other day a person shared a Facebook advertising method, word for word, that's killing it for their company.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more money does not remove the concern of failing. With Painting Business Academy, you can obtain access to a strong service strategy, company training, and also all of the done-for-you kinds as well as systems that are verified to construct a million-dollar paint service.
You also obtain accessibility to the incredible community of like-minded entrepreneurs doing the exact same point as you that we spoke around previously. While you do pay 1/10th of the cost in advance (on the high end), you have NO royalties to pay afterwards.
The probability of failing is the very same whether you are in a franchise or running your very own organisation. When you buy a franchise, you are taking a larger risk, suggesting there's a bigger failure if you do stop working.

WHAT NOW?
Prior to you purchase a franchise and also toss thousands of bucks down the commode for a tried and tested system, you may wish to have a look at Painting Business Academy.
Painting Business Academy is likewise a tried and tested system to develop a million-dollar paint firm, with a neighborhood of thousands of others. In enhancement, there is no continuous royalty, and no geographical constraints to development.
Get all of the benefits of a Painting Business Franchise in McAllen TX for a portion of the cost. Examine the training course out here as well as contact me if you have any kind of inquiries.
The painting business is a terrific business to be in! I hope you'll belong 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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