Don't Buy A Painting Business Franchise in Orlando FL

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Should You Buy a Painting Business Franchise in Orlando FL ?

Don't Buy a Painting Business Franchise in Orlando FL

• 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 Orlando FL
• 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 Orlando FL

If you are assuming of buying a painting franchise business, quit right currently.
I'm mosting likely to damage down the fundamental problems with buying a painting franchise business, as well as the alternative options you have to begin a paint business.

This is based upon my experience expanding a effective painting organisation where we thought about becoming a franchise business however chose for a collaboration arrangement instead. I hear the struggles of franchisee's regularly, and also I really feel for them.



Painting Business Franchise in Orlando FL 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 Orlando FL 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 Orlando FL ?

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Is it better to start a painting business or buy a Painting Business Franchise in Orlando FL ?

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BR> I do not want you to wind up in the exact same placement that several franchisees find themselves in.
There is a much better way! We will start with the troubles of a franchise, then we'll get involved in services.

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 franchise business available.
These franchise business vary from $10,000-$ 40,000 in franchise charges just for the right to the franchise business in a limited number of zip codes where you can operate your franchise.
They additionally take 6-9% as an ongoing aristocracy ... for life.
If you stay in business for 10 years and also you generate $5,000,000 in income, this franchise finishes up costing you upwards of $500,000. That's a steep cost to pay.
And also naturally you get some support and also organisation systems, however every little thing that a franchise business gives can be acquired with other opportunities for much less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you acquire a Painting Business Franchise in Orlando FL you are buying the rights to that business in a established territory. You are appointed a handful of postal code where you have the civil liberties to business.
This is a HUGE issue. The most convenient method to grow as well as expand a paint organisation is by expanding geographically. Franchise business take away this.
Painter Choice is our advertising company. We collaborate with franchisees around the country. I always feel horrible for these local business owner due to the fact that they have such a difficult time producing business.
A typical firm in Atlanta, for instance, can use our lead solution in North Atlanta to generate 20-30 leads monthly.
A franchisee in North Atlanta that only owns the civil liberties 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 organisation, they can immediately raise their service 3-5 times! In other terms, that indicates an rise from $500,000 to $2,000,000. This is a large constraint on your possible company development.
As a franchisee, your only option is to buy even more territory, or such it up as well as maintain your company tiny.
However if somebody else currently owns the neighboring territory, you don't have that option.

PROBLEMS # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees and also the franchisor have misaligned incentives. The franchisor wishes to generate as much income as feasible since they earn money a set percent of earnings.
As the organisation proprietor, your objective is to make the most of earnings.
I'm a huge believer in straightening incentives, and in this situation, incentives are not lined up. They are playing a different game than you are. They wish to make best use of earnings in all of their areas, and also market as lots of franchises as they can.

ISSUE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're getting a job. Let me show you why.
As a result of aristocracies, your margins finish up being around 10% -12% after all overhead.
In order to make $100k/year you would certainly need to have a $1,000,000 company.
You can not have a $1,000,000 business in the small territory. And also even if you can, you're stuck at a optimum of $100,000 on your own. You're paying $70k-$ 100k/year in royalties of what?
That's a ridiculous quantity of cash to pay your franchise business ... the same firm that has an contract that they hold over your head not allowing you to expand your business geographically.
They've got you by the balls.
Or, you can get another territory to grow. Again ... I would certainly rather not have to pay for the right to expand my service. That's absurd.
Many franchises wind up in the $500,000-$ 600,000 variety. You can probably make $80,000-$ 110,000, sure. However you also don't ever before have adequate margin to work with other individuals to run the entire business, which is one of the biggest benefits to constructing a company.
You possibly aren't producing sufficient profits to even employ actually strong employees. In our business, we pay about 5-6% to our production supervisor that supervises $1,000,000 in manufacturing. That's $50,000-$ 60,000 each year for the manager. If you are just doing $500,000 a year in revenue, you can pay 5% ($ 25,000) to your production manager, which is not sufficient cash for a strong employee.
Your alternatives are to pay a greater percent (killing your profit margin), or get the job done yourself ( eliminating your lifestyle). Both of which are not very attractive choices.
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IN SUMMARY:
You pay a great deal of money to restrict your development, you don't get to build your very own thing, as well as if you want to expand geographically you require to pay for the rights to do so ... presuming no one else already has the rights to the area you are attempting to get.
As a result of your limitations, and the high royalty charge, you are dramatically limited in your ability to expand your profits, develop a strong team, as well as develop a large company.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid company plan
# 2-- They do it for the support as well as training offered by the franchise business
# 3-- They do it for the neighborhood of various other franchisees so they aren't alone
# 4-- They do it out of fear of failing
Currently, allow's look at solutions. Just how can you get all the benefits without paying the high rate of a franchise business?

ADVANTAGE # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the expense of a franchise business, you can buy my business system. This is the specific company system we make use of and also comply with in our organisation, which corrected $3,000,000 in income in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My course consists of training and also assistance. When you obtain begun with Painting Business Academy, you get access to the entire company system as well as all of the training that accompanies that system.

ADVANTAGE # 3: THEY DO IT FOR THE COMMUNITY SO THEY AREN'T ALONE
When you sign up with Painting Business Academy, you also join our exclusive members-only Facebook group. We have lots of inquiries asked everyday from our participants.
Our community is very involved as well as active.
People in our area even share their successes. Simply recently someone shared a Facebook advertising method, word for word, that's killing it for their business.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more cash does not eliminate the concern of failing. With Painting Business Academy, you can obtain access to a solid organisation strategy, organisation training, and all of the done-for-you types as well as systems that are proven to build a million-dollar paint organisation.
You additionally obtain access to the incredible community of similar business owners doing the very same point as you that we spoke about previously. While you do pay 1/10th of the price in advance (on the high end), you have NO nobilities to pay after that.
The chance of failing is the same whether you remain in a franchise or running your very own organisation. Nevertheless, when you get a franchise, you are taking a larger danger, indicating there's a larger failing if you do fall short.

WHAT NOW?
Prior to you invest in a franchise and throw thousands of bucks down the toilet for a tried and tested system, you might wish to have a look at Painting Business Academy.
Painting Business Academy is likewise a tested system to develop a million-dollar paint firm, with a area of hundreds of others. Additionally, there is no recurring royalty, and no geographical constraints to growth.
Get every one of the benefits of a Painting Business Franchise in Orlando FL for a fraction of the cost. Examine the program out below and also contact me if you have any kind of concerns.
The paint business is a wonderful business to be in! I wish you'll be a component 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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