Don't Buy A Painting Business Franchise in Omaha NE

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Should You Buy a Painting Business Franchise in Omaha NE ?

Don't Buy a Painting Business Franchise in Omaha NE

• 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 Omaha NE
• 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 Omaha NE

If you are considering purchasing a painting franchise business, stop today.
I'm mosting likely to break down the essential problems with getting a paint franchise, and the alternative options you need to start a painting business.

This is based on my experience expanding a effective paint company where we thought about ending up being a franchise business but selected a collaboration configuration rather. I hear the struggles of franchisee's regularly, as well as I feel for them.



Painting Business Franchise in Omaha NE 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 Omaha NE 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 Omaha NE ?

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Is it better to start a painting business or buy a Painting Business Franchise in Omaha NE ?

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BR> I don't want you to finish up in the very same setting that many franchisees locate themselves in.
There is a much better means! We will certainly start with the issues of a franchise, then we'll get right into options.

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 larger franchises available.
These franchises range from $10,000-$ 40,000 in franchise fees just for the right to the franchise business in a restricted variety of zip codes where you can operate your franchise business.
They likewise take 6-9% as an recurring royalty ... for life.
If you stay in business for 10 years and also you create $5,000,000 in revenue, this franchise ends up costing you upwards of $500,000. That's a high rate to pay.
And also naturally you get some assistance and organisation systems, yet everything that a franchise offers can be gotten with various other opportunities for much less than $500,000.

PROBLEM # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you get a Painting Business Franchise in Omaha NE you are buying the civil liberties to that service in a set territory. You are designated a handful of zip codes where you have the rights to business.
This is a HUGE problem. The simplest method to grow and also expand a painting company is by expanding geographically. Franchises take away this.
Painter Choice is our advertising business. We collaborate with franchisees throughout the nation. I always really feel awful for these company owner because they have such a tough time generating company.
A regular company in Atlanta, as an example, can utilize our lead service in North Atlanta to generate 20-30 leads each month.
A franchisee in North Atlanta who just has the civil liberties to 7-8 zip codes can only produce 5-7 leads per month from our lead solution.
To put it simply, if those franchisees had their own business, they can right away boost their company 3-5 times! In other terms, that indicates an rise from $500,000 to $2,000,000. This is a large restriction on your potential company development.
As a franchisee, your only alternative is to acquire more area, or such it up and also maintain your business tiny.
If somebody else already has the nearby territory, you don't have that alternative.

TROUBLES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees and the franchisor have misaligned motivations. The franchisor wants to generate as much revenue as feasible due to the fact that they make money a collection percent of revenue.
Yet as the service proprietor, your objective is to make best use of profit.
I'm a big follower in aligning motivations, and in this case, rewards are not lined up. They are playing a various video game than you are. They want to maximize profits in all of their territories, as well as market as lots of franchise business as they can.

ISSUE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're buying a task. Allow me reveal you why.
Due to nobilities, your margins wind up being around 10% -12% nevertheless overhead.
In order to make $100k/year you 'd need to have a $1,000,000 service.
Yet you can not have a $1,000,000 organisation in the small area. And also 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 wherefore?
That's a ludicrous amount of cash to pay your franchise business ... the same business that has an contract that they hold over your head not enabling you to expand your business geographically.
They've obtained you by the balls.
Or, you can buy one more territory to grow. Once again ... I 'd rather not have to pay for the right to expand my company. That's silly.
A lot of franchises finish up in the $500,000-$ 600,000 variety. You can probably make $80,000-$ 110,000, sure. You likewise don't ever before have sufficient margin to hire other individuals to run the whole company, which is one of the greatest advantages to developing a company.
You possibly aren't producing sufficient revenue to even work with truly solid employees. In our business, we pay about 5-6% to our production supervisor 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 $500,000 a year in profits, you can pay 5% ($ 25,000) to your production manager, which is not nearly enough money for a strong staff member.
Your choices are to pay a higher percent (killing your profit margin), or get the job done yourself ( eliminating your way of life). Both of which are not very appealing alternatives.
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IN SUMMARY:
You pay a great deal of money to limit your development, you don't reach build your very own point, as well as if you wish to expand geographically you require to pay for the civil liberties to do so ... assuming no one else currently has the civil liberties to the area you are attempting to purchase.
Because of your restrictions, and also the high aristocracy charge, you are considerably restricted in your ability to expand your earnings, develop a solid team, and build a big service.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong service plan
# 2-- They do it for the support and training offered by the franchise
# 3-- They do it for the area of other franchisees so they aren't alone
# 4-- They do it out of worry of failure
Now, allow's consider services. Just 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 business, you can purchase my organisation system. This is the precise company system we utilize as well as adhere to in our service, which did over $3,000,000 in profits in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My course includes training as well as support. When you start with Painting Business Academy, you obtain accessibility to the whole business system and also all of the training that goes along with that system.

ADVANTAGE # 3: THEY DO IT FOR THE COMMUNITY SO THEY AREN'T ALONE
When you sign up with Painting Business Academy, you likewise join our exclusive members-only Facebook group. We have lots of inquiries asked daily from our members.
Our neighborhood is very engaged and energetic.
Individuals in our neighborhood also share their successes. Simply the other day someone shared a Facebook advertising and marketing strategy, verbatim, that's killing it for their organisation.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more money does not eliminate the concern of failure. With Painting Business Academy, you can obtain accessibility to a solid organisation plan, organisation training, and also all of the done-for-you kinds as well as systems that are proven to construct a million-dollar paint organisation.
You likewise get accessibility to the outstanding area of like-minded business owners doing the same point as you that we discussed earlier. While you do pay 1/10th of the cost in advance (on the high-end), you have NO aristocracies to pay afterwards.
The possibility of failing is the same whether you are in a franchise business or running your own organisation. Nevertheless, when you purchase a franchise business, you are taking a bigger threat, implying there's a bigger failing if you do fall short.

SO WHAT NOW?
Before you invest in a franchise and also toss hundreds of dollars down the toilet 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 build a million-dollar painting firm, with a community of numerous others. Furthermore, there is no recurring royalty, as well as no geographical limitations to development.
Obtain every one of the advantages of a Painting Business Franchise in Omaha NE for a portion of the cost. Check the course out right here as well as contact me if you have any type of questions.
The painting business is a terrific business to be in! I hope you'll be a part of it soon.
All the best!

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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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