Don't Buy A Painting Business Franchise in Montgomery AL

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

Should You Buy a Painting Business Franchise in Montgomery AL ?

Don't Buy a Painting Business Franchise in Montgomery AL

• 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 Montgomery AL
• 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 Montgomery AL

If you are thinking about acquiring a painting franchise, quit today.
I'm mosting likely to damage down the essential problems with acquiring a paint franchise business, and also the alternative choices you need to start a paint firm.

This is based on my experience expanding a effective paint organisation where we considered becoming a franchise yet selected a collaboration arrangement instead. I listen to the struggles of franchisee's continuously, as well as I feel for them.



Painting Business Franchise in Montgomery AL 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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Is a Painting Business Franchise in Montgomery AL 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 Montgomery AL ?

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Is it better to start a painting business or buy a Painting Business Franchise in Montgomery AL ?

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BR> I do not want you to end up in the same position that lots of franchisees locate themselves in.
There is a far better way! We will certainly begin with the troubles of a franchise business, after that we'll enter solutions.

PROBLEM # 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 bigger franchise business around.
These franchises vary from $10,000-$ 40,000 in franchise business fees just for the right to the franchise business in a limited number of postal code where you can operate your franchise.
They also take 6-9% as an continuous aristocracy ... permanently.
If you are in organisation for 10 years and you produce $5,000,000 in revenue, this franchise business winds up costing you upwards of $500,000. That's a high rate to pay.
And also naturally you get some assistance as well as business systems, however every little thing that a franchise business offers can be obtained via other methods for a lot less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you acquire a Painting Business Franchise in Montgomery AL you are purchasing the rights to that organisation in a established territory. You are appointed a handful of zip codes where you have the rights to the company.
This is a HUGE problem. The most convenient means to grow and also expand a painting organisation is by broadening geographically. Franchises take away this.
Painter Choice is our advertising and marketing company. We function with franchisees around the country. I constantly feel terrible for these local business owner since they have such a difficult time generating organisation.
A normal firm in Atlanta, as an example, can use our lead solution in North Atlanta to produce 20-30 leads each month.
A franchisee in North Atlanta who just has the legal rights to 7-8 zip codes can just create 5-7 leads per month from our lead solution.
To put it simply, if those franchisees had their very own service, they could instantly increase their organisation 3-5 times! In other terms, that means an boost from $500,000 to $2,000,000. This is a enormous constraint on your prospective company development.
As a franchisee, your only alternative is to purchase more region, or such it up as well as keep your organisation tiny.
Yet if another person already has the neighboring region, you don't have that choice.

TROUBLES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees and the franchisor have actually misaligned incentives. The franchisor intends to create as much profits as feasible due to the fact that they make money a set percent of income.
Yet as the business owner, your goal is to make the most of revenue.
I'm a big follower in straightening incentives, and also in this instance, incentives are not lined up. They are playing a different video game than you are. They want to make best use of earnings in all of their areas, and sell as several franchise business as they can.

PROBLEM # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're getting a work. Let me show you why.
As a result of nobilities, your margins wind up being around 10% -12% besides overhead.
In order to make $100k/year you 'd need to have a $1,000,000 service.
You can not have a $1,000,000 organisation in the little territory. And also if you can, you're stuck at a optimum of $100,000 for on your own. You're paying $70k-$ 100k/year in aristocracies for what?
That's a ridiculous amount of money to pay your franchise business ... the very same company that has an contract that they hold over your head not permitting you to grow your business geographically.
They've got you by the balls.
Or, you can buy another area to expand. However once more ... I would certainly instead not have to pay for the right to grow my company. That's silly.
Most franchises end up in the $500,000-$ 600,000 variety. You can possibly make $80,000-$ 110,000, sure. You likewise don't ever have enough margin to employ various other individuals to run the whole organisation, which is one of the greatest benefits to developing a company.
You probably aren't creating sufficient revenue to even hire truly strong workers. In our company, 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. However if you are just doing $500,000 a year in income, you can pay 5% ($ 25,000) to your manufacturing manager, which is inadequate cash for a solid staff member.
Your options are to pay a higher percent ( eliminating your earnings margin), or do the task on your own ( eliminating your way of life). Both of which are not extremely attractive options.
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IN SUMMARY:
You pay a great deal of cash to limit your growth, you do not obtain to construct your very own point, and if you desire to grow geographically you need to spend for the rights to do so ... thinking no one else already has the legal rights to the area you are shopping.
Due to your restrictions, as well as the high royalty cost, you are considerably limited in your ability to grow your earnings, construct a strong team, and develop a big service.

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
# 3-- They do it for the neighborhood of various other franchisees so they aren't alone
# 4-- They do it out of concern of failure
Currently, let's look at services. Just how can you obtain all the advantages without paying the steep rate of a franchise?

ADVANTAGE # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the expense of a franchise business, you can acquire my business system. This is the precise organisation system we make use of as well as comply with in our service, which corrected $3,000,000 in profits in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My program includes training as well as support. When you start with Painting Business Academy, you get access to the entire service 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 additionally join our exclusive members-only Facebook team. We have loads of questions asked daily from our members.
Our area is very engaged as well as active.
Individuals in our community also share their successes. Simply a few days ago somebody shared a Facebook advertising technique, verbatim, that's eliminating it for their business.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more cash does not get rid of the concern of failure. With Painting Business Academy, you can get accessibility to a solid business plan, business training, as well as all of the done-for-you kinds and also systems that are shown to build a million-dollar painting organisation.
You also obtain accessibility to the impressive community of like-minded entrepreneurs doing the very same point as you that we discussed previously. While you do pay 1/10th of the price up front (on the high end), you have NO royalties to pay afterwards.
The likelihood of failing coincides whether you are in a franchise or running your very own company. Nevertheless, when you buy a franchise business, you are taking a bigger threat, implying there's a larger failing if you do stop working.

SO WHAT NOW?
Prior to you buy a franchise and toss countless bucks down the bathroom for a tried and tested system, you may wish to take a look at Painting Business Academy.
Painting Business Academy is likewise a proven system to develop a million-dollar paint company, with a community of hundreds of others. In enhancement, there is no continuous royalty, and no geographical restrictions to growth.
Obtain every one of the advantages of a Painting Business Franchise in Montgomery AL for a fraction of the cost. Check the training course out here and contact me if you have any type of inquiries.
The painting business is a great service to be in! I wish you'll be a part 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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