Don't Buy A Painting Business Franchise in Modesto CA

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Should You Buy a Painting Business Franchise in Modesto CA ?

Don't Buy a Painting Business Franchise in Modesto CA

• 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 Modesto CA
• 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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• News By Industry
• 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 Modesto CA

If you are considering getting a painting franchise, stop now.
I'm mosting likely to damage down the basic troubles with acquiring a painting franchise, as well as the different choices you have to begin a paint company.

This is based upon my experience expanding a successful painting company where we considered ending up being a franchise however chose for a partnership arrangement instead. I hear the struggles of franchisee's frequently, as well as I really feel for them.



Painting Business Franchise in Modesto CA 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 can I start a painting business with no money?

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Is a Painting Business Franchise in Modesto CA 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 Modesto CA ?

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Is it better to start a painting business or buy a Painting Business Franchise in Modesto CA ?

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BR> I don't desire you to end up in the very same placement that many franchisees discover themselves in.
There is a much better method! We will begin with the troubles of a franchise, after that we'll get involved in solutions.

PROBLEM # 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 franchise business available.
These franchises range from $10,000-$ 40,000 in franchise charges simply for the right to the franchise in a limited variety of zip codes where you can run your franchise.
They also take 6-9% as an continuous aristocracy ... forever.
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.
As well as of training course you obtain some support as well as service systems, but everything that a franchise business offers can be acquired with other opportunities for a lot less than $500,000.

TROUBLE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you acquire a Painting Business Franchise in Modesto CA you are getting the rights to that organisation in a established territory. You are appointed a handful of postal code where you have the legal rights to business.
This is a HUGE problem. The simplest method to expand and also broaden a paint organisation is by expanding geographically. Franchise business eliminate this right.
Painter Choice is our advertising business. We function with franchisees throughout the nation. I constantly really feel horrible for these company proprietors due to the fact that they have such a difficult time creating service.
A normal firm in Atlanta, as an example, can utilize our lead solution in North Atlanta to produce 20-30 leads monthly.
A franchisee in North Atlanta that just has the civil liberties to 7-8 zip codes can just generate 5-7 leads per month from our lead solution.
In other words, if those franchisees had their very own business, they can right away increase their service 3-5 times! In other terms, that suggests an rise from $500,000 to $2,000,000. This is a massive restriction on your prospective organisation development.
As a franchisee, your only alternative is to purchase even more region, or such it up as well as keep your company small.
If somebody else already possesses the nearby area, you do not have that option.

TROUBLES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Essentially, franchisees and also the franchisor have misaligned motivations. The franchisor wants to generate as much revenue as possible due to the fact that they make money a collection percent of revenue.
Yet as business proprietor, your goal is to make best use of profit.
I'm a huge follower in straightening motivations, as well as in this case, incentives are not straightened. They are playing a various game than you are. They want to optimize revenue in all of their territories, as well as offer as lots of franchise business as they can.

TROUBLE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're getting a job. Let me show you why.
Due to nobilities, your margins finish up being around 10% -12% nevertheless business expenditures.
In order to make $100k/year you would certainly need to have a $1,000,000 organisation.
However you can not have a $1,000,000 company in the little region. And also even if you can, you're stuck at a optimum of $100,000 for yourself. You're paying $70k-$ 100k/year in royalties of what?
That's a crazy quantity of money to pay your franchise ... the exact same business that has an agreement that they hold over your head not enabling you to grow your company geographically.
They've obtained you by the rounds.
Or, you can acquire another territory to expand. Again ... I 'd instead not have to pay for the right to expand my service. That's ridiculous.
A lot of franchise business end up in the $500,000-$ 600,000 array. You can most likely make $80,000-$ 110,000, sure. However you additionally do not ever before have enough margin to employ other people to run the whole business, which is just one of the best benefits to building a firm.
You possibly aren't generating sufficient revenue to even employ actually solid workers. In our firm, we pay regarding 5-6% to our production manager who manages $1,000,000 in manufacturing. That's $50,000-$ 60,000 annually for the supervisor. However if you are only doing $500,000 a year in income, you can pay 5% ($ 25,000) to your production supervisor, which is not adequate cash for a solid staff member.
Your alternatives are to pay a greater portion (killing your earnings margin), or do the work on your own ( eliminating your way of life). Both of which are not very appealing options.
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IN SUMMARY:
You pay a great deal of cash to restrict your growth, you don't obtain to construct your very own thing, and if you want to expand geographically you need to pay for the legal rights to do so ... assuming nobody else already possesses the civil liberties to the area you are shopping.
As a result of your limitations, as well as the high royalty fee, you are significantly limited in your ability to expand your profits, build a strong team, and develop 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 as well as training provided by the franchise business
# 3-- They do it for the area of other franchisees so they aren't alone
# 4-- They do it out of concern of failing
Now, let's consider solutions. How can you obtain 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 business system. This is the precise company system we use as well as comply with in our service, which did over $3,000,000 in earnings in 2016.

BENEFIT # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My course includes training and assistance. When you start with Painting Business Academy, you get accessibility to the entire company system and also all of the training that goes along with 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 group. We have dozens of questions asked everyday from our members.
Our community is highly engaged as well as energetic.
Individuals in our area also share their successes. Simply a few days ago someone shared a Facebook advertising and marketing method, word for word, that's eliminating it for their company.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more cash does not eliminate the worry of failing. With Painting Business Academy, you can get access to a strong service strategy, organisation training, as well as all of the done-for-you kinds and also systems that are verified to build a million-dollar paint service.
You additionally get access to the fantastic neighborhood of similar business owners doing the exact same thing as you that we discussed previously. While you do pay 1/10th of the price in advance (on the luxury), you have NO nobilities to pay after that.
The likelihood of failure is the same whether you remain in a franchise business or running your own service. However, when you acquire a franchise, you are taking a larger threat, meaning there's a bigger failure if you do fail.

SO WHAT NOW?
Before you buy a franchise and throw thousands of bucks down the commode for a tried and tested system, you may intend to have a look at Painting Business Academy.
Painting Business Academy is additionally a tried and tested system to construct a million-dollar painting company, with a community of thousands of others. Furthermore, there is no ongoing royalty, as well as no geographical restrictions to development.
Obtain every one of the benefits of a Painting Business Franchise in Modesto CA for a portion of the cost. Check the training course out below and contact me if you have any type of concerns.
The painting business is a terrific business to be in! I wish you'll belong of it quickly.
Excellent 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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