Don't Buy A Painting Business Franchise in New Orleans LA

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Should You Buy a Painting Business Franchise in New Orleans LA ?

Don't Buy a Painting Business Franchise in New Orleans LA

• 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 New Orleans LA
• 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
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• 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 New Orleans LA

If you are assuming of acquiring a painting franchise, stop right now.
I'm going to break down the basic troubles with acquiring a paint franchise, and the alternate choices you have to start a painting firm.

This is based upon my experience expanding a successful painting service where we took into consideration coming to be a franchise but selected a partnership arrangement rather. I listen to the struggles of franchisee's regularly, and I really feel for them.



Painting Business Franchise in New Orleans LA 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 New Orleans LA 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 New Orleans LA ?

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Is it better to start a painting business or buy a Painting Business Franchise in New Orleans LA ?

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BR> I don't desire you to end up in the same setting that several franchisees locate themselves in.
There is a better means! We will begin with the problems of a franchise business, then we'll get involved in solutions.

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 available.
These franchises range from $10,000-$ 40,000 in franchise business fees just for the right to the franchise in a minimal number of postal code where you can operate your franchise business.
They additionally take 6-9% as an recurring nobility ... forever.
If you stay in business for 10 years and also you generate $5,000,000 in income, this franchise business winds up costing you upwards of $500,000. That's a high price to pay.
And also naturally you get some support as well as business systems, but whatever that a franchise business supplies can be acquired through various other avenues for a lot less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you buy a Painting Business Franchise in New Orleans LA you are purchasing the civil liberties to that company in a established area. You are designated a little number of postal code where you have the legal rights to business.
This is a HUGE problem. The easiest way to grow and also expand a paint business is by increasing geographically. Franchises remove this right.
Painter Choice is our advertising and marketing company. We collaborate with franchisees throughout the country. I constantly really feel terrible for these entrepreneur because they have such a tough time creating organisation.
A common firm in Atlanta, for instance, can utilize 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 create 5-7 leads per month from our lead service.
In various other words, if those franchisees had their own service, they could right away increase their service 3-5 times! In other terms, that means an increase from $500,000 to $2,000,000. This is a large constraint on your potential business growth.
As a franchisee, your only option is to purchase even more region, or such it up as well as keep your organisation little.
If someone else already owns the close-by region, you do not have that choice.

PROBLEMS # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Fundamentally, franchisees and the franchisor have actually misaligned incentives. The franchisor desires to generate as much earnings as feasible because they obtain paid a collection percent of earnings.
As the business owner, your objective is to take full advantage of earnings.
I'm a large believer in aligning motivations, and also in this instance, incentives are not straightened. They are playing a various video game than you are. They wish to optimize revenue in all of their territories, and also market as several franchises as they can.

TROUBLE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're getting a work. Let me show you why.
As a result of royalties, your margins wind up being around 10% -12% after all service expenditures.
In order to make $100k/year you would certainly have to have a $1,000,000 business.
You can not have a $1,000,000 service in the little region. 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 aristocracies wherefore?
That's a ludicrous amount of cash to pay your franchise ... the same firm that has an contract that they hold over your head not enabling you to grow your company geographically.
They've obtained you by the spheres.
Or, you can get an additional territory to grow. Again ... I 'd rather not have to pay for the right to grow my service. That's silly.
Many franchise business end up in the $500,000-$ 600,000 variety. You can most likely make $80,000-$ 110,000, sure. Yet you additionally do not ever before have adequate margin to work with other people to run the entire service, which is one of the greatest benefits to building a firm.
You possibly aren't generating sufficient profits to also hire truly strong staff members. In our business, we pay concerning 5-6% to our production supervisor who oversees $1,000,000 in production. That's $50,000-$ 60,000 each year for the supervisor. If you are just doing $500,000 a year in revenue, you can pay 5% ($ 25,000) to your manufacturing supervisor, which is not adequate cash for a solid staff member.
Your options are to pay a greater percent (killing your earnings margin), or do the task on your own ( eliminating your way of life). Both of which are not really appealing choices.
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IN SUMMARY:
You pay a great deal of cash to limit your growth, you do not reach construct your own point, and if you desire to grow geographically you require to pay for the civil liberties to do so ... assuming no one else already possesses the civil liberties to the area you are shopping.
As a result of your constraints, and the high aristocracy fee, you are considerably limited in your capability to expand your revenue, construct a solid team, and construct a big service.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid organisation strategy
# 2-- They do it for the assistance and training supplied 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 worry of failure
Now, let's look at options. Just how can you get all the advantages without paying the high cost of a franchise?

ADVANTAGE # 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 precise business system we make use of and also comply with in our business, which did over $3,000,000 in revenue in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My program includes training and assistance. When you begin with Painting Business Academy, you get accessibility to the whole service system and 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 personal members-only Facebook team. We have lots of inquiries asked everyday from our members.
Our community is highly engaged and active.
Individuals in our community also share their successes. Just the other day a person shared a Facebook advertising and marketing technique, verbatim, that's eliminating it for their business.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more cash does not get rid of the fear of failing. With Painting Business Academy, you can get accessibility to a strong company strategy, service training, and all of the done-for-you forms and systems that are confirmed to build a million-dollar painting organisation.
You also obtain access to the outstanding neighborhood of similar entrepreneurs doing the same point as you that we spoke around earlier. While you do pay 1/10th of the cost up front (on the high end), you have NO nobilities to pay after that.
The chance of failure is the same whether you remain in a franchise business or running your own company. Nonetheless, when you acquire a franchise, you are taking a larger danger, implying there's a larger failure if you do stop working.

WHAT NOW?
Prior to you invest in a franchise business and also throw hundreds of bucks down the toilet for a tested system, you might wish to have a look at Painting Business Academy.
Painting Business Academy is also a proven system to construct a million-dollar paint business, with a community of hundreds of others. Additionally, there is no continuous aristocracy, and no geographical constraints to development.
Get all of the advantages of a Painting Business Franchise in New Orleans LA for a portion of the price. Check the training course out right here as well as contact me if you have any inquiries.
The painting business is a fantastic company 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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