Don't Buy A Painting Business Franchise in Miami FL

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

Should You Buy a Painting Business Franchise in Miami FL ?

Don't Buy a Painting Business Franchise in Miami FL

• 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 Miami FL
• 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
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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 Miami FL

If you are assuming of purchasing a painting franchise, quit now.
I'm going to damage down the fundamental problems with buying a painting franchise business, and the different choices you need to begin a painting business.

This is based on my experience growing a effective paint organisation where we considered ending up being a franchise business yet selected a partnership configuration instead. I hear the battles of franchisee's frequently, and I feel for them.



Painting Business Franchise in Miami FL 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 Miami FL 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 Miami FL ?

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Is it better to start a painting business or buy a Painting Business Franchise in Miami FL ?

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BR> I don't want you to wind up in the exact same position that numerous franchisees locate themselves in.
There is a much better way! We will certainly start with the problems of a franchise, then we'll get into options.

TROUBLE # 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 out there.
These franchise business vary from $10,000-$ 40,000 in franchise fees simply for the right to the franchise business in a limited number of postal code where you can run your franchise business.
They also take 6-9% as an recurring royalty ... for life.
If you stay in business for 10 years and you produce $5,000,000 in profits, this franchise winds up costing you upwards of $500,000. That's a steep price to pay.
As well as naturally you get some support as well as company systems, yet whatever that a franchise business provides can be gotten through various other methods for a lot less than $500,000.

TROUBLE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you buy a Painting Business Franchise in Miami FL you are getting the rights to that business in a established region. You are assigned a handful of zip codes where you have the civil liberties to business.
This is a HUGE trouble. The most convenient method to grow and also increase a painting service is by increasing geographically. Franchise business take away this.
Painter Choice is our advertising and marketing company. We collaborate with franchisees throughout the nation. I always feel horrible for these service proprietors because they have such a tough time producing business.
A regular company in Atlanta, as an example, can use our lead service in North Atlanta to create 20-30 leads each month.
A franchisee in North Atlanta that only has the rights to 7-8 zip codes can just generate 5-7 leads per month from our lead service.
In various other words, if those franchisees had their own company, they can quickly increase their company 3-5 times! In various other terms, that indicates an increase from $500,000 to $2,000,000. This is a massive constraint on your prospective organisation development.
As a franchisee, your only option is to purchase even more territory, or such it up and also keep your company tiny.
Yet if somebody else currently possesses the close-by territory, you do not have that alternative.

TROUBLES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Fundamentally, franchisees as well as the franchisor have misaligned motivations. The franchisor wishes to create as much income as possible due to the fact that they get paid a set percent of profits.
But as business owner, your goal is to take full advantage of revenue.
I'm a huge believer in straightening rewards, and also in this case, incentives are not straightened. They are playing a different video game than you are. They wish to make the most of profits in all of their areas, and offer as lots of franchises as they can.

PROBLEM # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're getting a task. Allow me show you why.
As a result of aristocracies, your margins wind up being around 10% -12% after all overhead.
In order to make $100k/year you 'd have to have a $1,000,000 business.
However you can not have a $1,000,000 service in the small territory. And also even 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 ridiculous quantity of cash to pay your franchise business ... the exact same business that has an contract that they hold over your head not enabling you to expand your organisation geographically.
They've obtained you by the spheres.
Or, you can purchase another area to grow. Yet once more ... I 'd instead not need to spend for the right to grow my service. That's absurd.
Most franchises finish up in the $500,000-$ 600,000 array. You can possibly make $80,000-$ 110,000, sure. You additionally don't ever have adequate margin to work with various other people to run the entire business, which is one of the biggest benefits to developing a company.
You probably aren't producing adequate revenue to also hire actually strong employees. In our business, we pay regarding 5-6% to our production supervisor who manages $1,000,000 in production. That's $50,000-$ 60,000 each year for the manager. But if you are just doing $500,000 a year in income, you can pay 5% ($ 25,000) to your manufacturing manager, which is not enough money for a solid worker.
Your choices are to pay a greater percent ( eliminating your profit margin), or get the job done on your own ( eliminating your way of life). Both of which are not extremely attractive alternatives.
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IN SUMMARY:
You pay a whole lot of cash to limit your development, you do not get to develop your very own thing, as well as if you wish to grow geographically you require to pay for the legal rights to do so ... presuming no one else already owns the rights to the territory you are shopping.
Because of your limitations, and the high aristocracy cost, you are significantly limited in your capability to grow your income, develop a solid group, as well as develop a large company.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid company strategy
# 2-- They do it for the assistance and also training given by the franchise business
# 3-- They do it for the neighborhood of other franchisees so they aren't alone
# 4-- They do it out of worry of failing
Now, let's look at remedies. Just how can you get all the benefits without paying the steep price of a franchise?

ADVANTAGE # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the price of a franchise, you can buy my business system. This is the precise company system we make use of and also adhere to in our service, which did over $3,000,000 in earnings in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My program consists of training and support. When you start with Painting Business Academy, you get access 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 join Painting Business Academy, you likewise join our exclusive members-only Facebook team. We have dozens of concerns asked on a daily basis from our participants.
Our neighborhood is extremely involved and also energetic.
People in our area even share their successes. Simply recently a person shared a Facebook advertising method, verbatim, that's killing it for their business.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more cash does not get rid of the worry of failure. With Painting Business Academy, you can obtain accessibility to a solid company strategy, company training, and also all of the done-for-you types as well as systems that are confirmed to build a million-dollar paint business.
You additionally get accessibility to the incredible neighborhood of similar entrepreneurs doing the same thing as you that we spoke about previously. While you do pay 1/10th of the expense up front (on the high end), you have NO nobilities to pay afterwards.
The probability of failure is the exact same whether you are in a franchise or running your very own organisation. When you purchase a franchise business, you are taking a larger threat, implying there's a bigger failing if you do fall short.

WHAT NOW?
Before you purchase a franchise as well as throw hundreds of bucks down the bathroom for a tested system, you might want to examine out Painting Business Academy.
Painting Business Academy is likewise a tried and tested system to build a million-dollar painting company, with a community of thousands of others. On top of that, there is no recurring aristocracy, and also no geographical constraints to growth.
Obtain every one of the advantages of a Painting Business Franchise in Miami FL for a portion of the price. Inspect the training course out below and also contact me if you have any type of inquiries.
The paint business is a wonderful service to be in! I wish you'll be a part of it soon.
Good 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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