Don't Buy A Painting Business Franchise in New Rochelle NY

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Should You Buy a Painting Business Franchise in New Rochelle NY ?

Don't Buy a Painting Business Franchise in New Rochelle NY

• 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 Rochelle NY
• 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
• Support
• 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 Rochelle NY

If you are assuming of purchasing a painting franchise business, stop right now.
I'm mosting likely to damage down the essential problems with purchasing a paint franchise, and also the alternate options you have to start a paint business.

This is based on my experience expanding a successful paint company where we thought about ending up being a franchise business but selected a partnership configuration instead. I listen to the struggles of franchisee's continuously, and I really feel for them.



Painting Business Franchise in New Rochelle NY 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 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 Rochelle NY 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 New Rochelle NY ?

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

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BR> I don't want you to end up in the exact same position that many franchisees discover themselves in.
There is a far better way! We will certainly begin with the issues of a franchise, then we'll enter into options.

ISSUE # 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 simply for the right to the franchise in a restricted number of zip codes where you can run your franchise business.
They likewise take 6-9% as an ongoing nobility ... forever.
If you stay in business for 10 years and you produce $5,000,000 in earnings, this franchise winds up costing you upwards of $500,000. That's a steep price to pay.
And also of course you get some assistance and service systems, but every little thing that a franchise offers can be gotten via various other avenues for a lot less than $500,000.

PROBLEM # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you purchase a Painting Business Franchise in New Rochelle NY you are acquiring the legal rights to that service in a established area. You are designated a small number of postal code where you have the legal rights to the service.
This is a HUGE issue. The most convenient method to grow and also increase a painting business is by expanding geographically. Franchise business take away this right.
Painter Choice is our marketing company. We collaborate with franchisees around the country. I constantly really feel awful for these local business owner due to the fact that they have such a hard time creating organisation.
A normal company in Atlanta, for example, can use our lead service in North Atlanta to generate 20-30 leads each month.
However a franchisee in North Atlanta that just owns the rights to 7-8 zip codes can only produce 5-7 leads per month from our lead solution.
Simply put, if those franchisees had their own company, they can quickly increase their organisation 3-5 times! In various other terms, that suggests an boost from $500,000 to $2,000,000. This is a large limitation on your potential company development.
As a franchisee, your only choice is to buy even more territory, or such it up and maintain your organisation little.
However if another person already owns the neighboring region, you do not have that choice.

PROBLEMS # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Essentially, franchisees as well as the franchisor have actually misaligned motivations. The franchisor wishes to produce as much profits as possible since they obtain paid a set percent of profits.
As the service proprietor, your goal is to take full advantage of profit.
I'm a big follower in aligning rewards, and also in this case, incentives are not aligned. They are playing a various game than you are. They wish to make best use of income in all of their regions, as well as market as many franchise business as they can.

ISSUE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're purchasing a job. Allow me show you why.
Due to nobilities, your margins end up being around 10% -12% besides business expenditures.
In order to make $100k/year you 'd need to have a $1,000,000 service.
You can not have a $1,000,000 service in the small 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 royalties wherefore?
That's a crazy quantity of money to pay your franchise business ... the exact same business that has an contract that they hold over your head not allowing you to grow your service geographically.
They've got you by the rounds.
Or, you can get an additional territory to grow. Once again ... I would certainly rather not have to pay for the right to expand my business. That's absurd.
A lot of franchises finish up in the $500,000-$ 600,000 variety. You can most likely make $80,000-$ 110,000, sure. However you additionally don't ever before have adequate margin to hire various other people to run the entire service, which is just one of the best benefits to developing a company.
You probably aren't generating adequate revenue to even hire actually solid employees. In our firm, we pay about 5-6% to our production supervisor that supervises $1,000,000 in manufacturing. That's $50,000-$ 60,000 per year for the manager. If you are only doing $500,000 a year in earnings, you can pay 5% ($ 25,000) to your production supervisor, which is not enough money for a solid worker.
Your options are to pay a greater percentage ( eliminating your revenue margin), or get the job done yourself (killing your way of life). Both of which are not extremely eye-catching options.
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IN SUMMARY:
You pay a great deal of money to limit your development, you do not obtain to develop your own thing, and if you desire to expand geographically you require to spend for the civil liberties to do so ... assuming no one else already possesses the rights to the area you are shopping.
Due to your constraints, and the high aristocracy cost, you are significantly restricted in your capability to grow your income, build a strong group, as well as build a huge organisation.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid service strategy
# 2-- They do it for the support and training offered by the franchise business
# 3-- They do it for the community of other franchisees so they aren't alone
# 4-- They do it out of anxiety of failure
Now, let's consider options. Exactly how can you get all the benefits without paying the steep cost of a franchise business?

ADVANTAGE # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the price of a franchise business, you can purchase my organisation system. This is the exact business system we utilize as well as comply with in our organisation, which did over $3,000,000 in earnings in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My training course includes training and assistance. When you get started with Painting Business Academy, you obtain accessibility to the entire company system and also 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 personal members-only Facebook team. We have dozens of inquiries asked daily from our participants.
Our community is very engaged and also active.
People in our area even share their successes. Just a few days ago someone shared a Facebook advertising approach, word for word, that's eliminating it for their company.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more money does not eliminate the fear of failure. With Painting Business Academy, you can get accessibility to a strong company plan, company training, as well as all of the done-for-you types and systems that are proven to develop a million-dollar painting company.
You additionally get accessibility to the amazing community of like-minded business owners doing the same thing as you that we talked about earlier. While you do pay 1/10th of the expense in advance (on the luxury), you have NO royalties to pay afterwards.
The possibility of failing coincides whether you are in a franchise business or running your own organisation. Nonetheless, when you buy a franchise business, you are taking a bigger danger, meaning there's a bigger failing if you do stop working.

WHAT NOW?
Prior to you purchase a franchise as well as throw hundreds of dollars down the commode for a tried and tested system, you might intend to take a look at Painting Business Academy.
Painting Business Academy is also a tried and tested system to develop a million-dollar painting business, with a community of hundreds of others. On top of that, there is no continuous royalty, and no geographical constraints to growth.
Get every one of the benefits of a Painting Business Franchise in New Rochelle NY for a fraction of the price. Check the program out here and also contact me if you have any kind of inquiries.
The painting business is a wonderful service to be in! I hope you'll belong 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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