Don't Buy A Painting Business Franchise in Overland Park KS

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Should You Buy a Painting Business Franchise in Overland Park KS ?

Don't Buy a Painting Business Franchise in Overland Park KS

• 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 Overland Park KS
• 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
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• About
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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 Overland Park KS

If you are considering getting a painting franchise business, stop right currently.
I'm mosting likely to break down the fundamental issues with getting a painting franchise business, and also the alternate choices you have to start a paint company.

This is based upon my experience growing a successful paint business where we considered becoming a franchise business yet selected a partnership arrangement instead. I hear the battles of franchisee's continuously, and also I really feel for them.



Painting Business Franchise in Overland Park KS FAQs
How much does it cost to open your own franchise?

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How much is a Five Star Painting Franchise?

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What are the disadvantages of a Painting Business Franchise in Overland Park KS ?

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Is it better to start a painting business or buy a Painting Business Franchise in Overland Park KS ?

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BR> I don't desire you to finish up in the exact same position that many franchisees discover themselves in.
There is a far better method! We will certainly start with the troubles of a franchise, then we'll obtain into options.

TROUBLE # 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 out there.
These franchises vary from $10,000-$ 40,000 in franchise charges just for the right to the franchise in a minimal number of zip codes where you can operate your franchise business.
They likewise take 6-9% as an recurring royalty ... forever.
If you are in service for 10 years and also you create $5,000,000 in earnings, this franchise business winds up costing you upwards of $500,000. That's a high price to pay.
And naturally you get some assistance and also company systems, but every little thing that a franchise supplies 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 get a Painting Business Franchise in Overland Park KS you are acquiring the legal rights to that service in a set territory. You are assigned a handful of zip codes where you have the civil liberties to the company.
This is a HUGE issue. The easiest means to expand as well as increase a paint business is by increasing geographically. Franchises take away this.
Painter Choice is our marketing business. We collaborate with franchisees around the nation. I constantly feel awful for these company owner since they have such a difficult time generating business.
A regular company in Atlanta, for example, can utilize our lead solution in North Atlanta to produce 20-30 leads monthly.
A franchisee in North Atlanta who only owns the legal rights to 7-8 zip codes can just generate 5-7 leads per month from our lead solution.
To put it simply, if those franchisees had their own business, they can instantly raise their service 3-5 times! In various other terms, that implies an boost from $500,000 to $2,000,000. This is a substantial limitation on your possible service growth.
As a franchisee, your only option is to acquire even more territory, or such it up and also keep your service little.
If someone else currently possesses the neighboring territory, you don't have that option.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Fundamentally, franchisees and the franchisor have misaligned incentives. The franchisor wishes to produce as much income as possible since they make money a collection percent of profits.
As the organisation proprietor, your goal is to take full advantage of profit.
I'm a huge follower in straightening motivations, as well as in this instance, motivations are not aligned. They are playing a different game than you are. They wish to make the most of revenue in all of their regions, and also offer as numerous franchises as they can.

PROBLEM # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're buying a work. Let me show you why.
Due to nobilities, your margins wind up being around 10% -12% nevertheless overhead.
In order to make $100k/year you would certainly need to have a $1,000,000 service.
You can not have a $1,000,000 business in the small region. As well as also 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 quantity of cash to pay your franchise business ... the same company that has an agreement that they hold over your head not allowing you to grow your service geographically.
They've obtained you by the balls.
Or, you can buy an additional area to expand. Once more ... I would certainly rather not have to pay for the right to grow my organisation. That's silly.
Many franchises wind up in the $500,000-$ 600,000 range. You can probably make $80,000-$ 110,000, sure. However you additionally do not ever before have adequate margin to employ other people to run the entire business, which is among the best benefits to developing a company.
You most likely aren't creating enough income to also hire truly strong workers. In our company, we pay about 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 only doing $500,000 a year in profits, you can pay 5% ($ 25,000) to your manufacturing manager, which is not sufficient cash for a solid staff member.
Your alternatives are to pay a higher percentage (killing your revenue margin), or do the task on your own ( eliminating your way of living). Both of which are not very eye-catching options.
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IN SUMMARY:
You pay a great deal of cash to limit your growth, you don't get to develop your very own thing, and if you want to grow geographically you require to pay for the legal rights to do so ... assuming nobody else already possesses the civil liberties to the area you are attempting to purchase.
As a result of your limitations, and the high royalty cost, you are dramatically limited in your capability to expand your earnings, develop a solid team, as well as construct a huge business.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid business strategy
# 2-- They do it for the support as well as training offered by the franchise
# 3-- They do it for the community of various other franchisees so they aren't alone
# 4-- They do it out of concern of failing
Now, let's consider solutions. Exactly how can you obtain all the benefits without paying the high price of a franchise business?

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

BENEFIT # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My program consists of training and also support. When you get going with Painting Business Academy, you get accessibility to the entire organisation system and all of the training that accompanies that system.

BENEFIT # 3: THEY DO IT FOR THE COMMUNITY SO THEY AREN'T ALONE
When you join Painting Business Academy, you likewise join our private members-only Facebook team. We have loads of inquiries asked every day from our members.
Our area is highly involved and also energetic.
Individuals in our area even share their successes. Simply recently someone shared a Facebook marketing method, verbatim, that's eliminating it for their company.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more money does not remove the worry of failure. With Painting Business Academy, you can obtain accessibility to a solid service strategy, company training, and also all of the done-for-you forms and also systems that are proven to build a million-dollar paint organisation.
You also obtain access to the amazing community of similar business owners doing the same thing as you that we spoke about earlier. While you do pay 1/10th of the cost in advance (on the luxury), you have NO royalties to pay after that.
The possibility of failing coincides whether you are in a franchise business or running your very own organisation. Nevertheless, when you acquire a franchise, you are taking a bigger risk, meaning there's a bigger failure if you do fail.

SO WHAT NOW?
Prior to you invest in a franchise business as well as throw hundreds of bucks down the commode for a tested system, you might want to look into Painting Business Academy.
Painting Business Academy is additionally a proven system to develop a million-dollar painting company, with a neighborhood of hundreds of others. On top of that, there is no recurring nobility, as well as no geographical limitations to growth.
Obtain all of the benefits of a Painting Business Franchise in Overland Park KS for a portion of the cost. Inspect the training course out right here as well as contact me if you have any type of inquiries.
The painting business is a wonderful company to be in! I wish you'll belong 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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