Don't Buy A Painting Business Franchise in Paradise NV

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Should You Buy a Painting Business Franchise in Paradise NV ?

Don't Buy a Painting Business Franchise in Paradise NV

• 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 Paradise NV
• 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
• Training Support
• 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 Paradise NV

If you are thinking about purchasing a paint franchise business, stop today.
I'm mosting likely to break down the essential problems with purchasing a paint franchise, and also the different options you have to start a painting company.

This is based on my experience growing a successful painting organisation where we thought about becoming a franchise however chose for a partnership configuration instead. I listen to the battles of franchisee's frequently, and also I really feel for them.



Painting Business Franchise in Paradise NV 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 Paradise NV 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 Paradise NV ?

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Is it better to start a painting business or buy a Painting Business Franchise in Paradise NV ?

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BR> I don't want you to wind up in the very same setting that lots of franchisees find themselves in.
There is a better method! We will certainly begin with the problems of a franchise business, after that we'll enter options.

PROBLEM # 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 around.
These franchise business vary from $10,000-$ 40,000 in franchise costs just for the right to the franchise business in a limited variety of postal code where you can operate your franchise.
They additionally take 6-9% as an continuous nobility ... forever.
If you stay in business for 10 years and also you produce $5,000,000 in earnings, this franchise ends up costing you upwards of $500,000. That's a steep rate to pay.
And naturally you obtain some support as well as business systems, but every little thing that a franchise business offers can be obtained with various other opportunities for much less than $500,000.

PROBLEM # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you purchase a Painting Business Franchise in Paradise NV you are acquiring the civil liberties to that organisation in a established territory. You are assigned a handful of postal code where you have the rights to business.
This is a HUGE problem. The easiest means to expand and broaden a paint organisation is by increasing geographically. Franchises take away this.
Painter Choice is our marketing business. We function with franchisees all over the nation. I always really feel terrible for these entrepreneur since they have such a tough time generating organisation.
A normal company in Atlanta, for example, can use our lead service in North Atlanta to produce 20-30 leads per month.
However a franchisee in North Atlanta who just has the legal rights to 7-8 postal code can just generate 5-7 leads per month from our lead service.
In other words, if those franchisees had their own company, they could right away raise their company 3-5 times! In other terms, that implies an rise from $500,000 to $2,000,000. This is a large constraint on your prospective organisation development.
As a franchisee, your only alternative is to purchase more region, or such it up and keep your organisation little.
If somebody else already has the neighboring region, you don't have that option.

PROBLEMS # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Essentially, franchisees and the franchisor have actually misaligned incentives. The franchisor intends to create as much earnings as possible due to the fact that they make money a set percent of profits.
However as the service proprietor, your objective is to make best use of revenue.
I'm a large believer in aligning incentives, and in this case, rewards are not straightened. They are playing a various video game than you are. They wish to maximize revenue in all of their regions, and offer as many franchise business as they can.

TROUBLE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're purchasing a job. Let me reveal you why.
Since of nobilities, your margins finish up being around 10% -12% nevertheless overhead.
In order to make $100k/year you 'd have to have a $1,000,000 business.
You can not have a $1,000,000 company in the little region. As well as even if you can, you're stuck at a optimum of $100,000 for yourself. You're paying $70k-$ 100k/year in royalties of what?
That's a ridiculous quantity of cash to pay your franchise ... the exact same business that has an agreement that they hold over your head not permitting you to expand your company geographically.
They've obtained you by the spheres.
Or, you can get one more region to expand. Yet once again ... I 'd rather not have to spend for the right to expand my business. That's silly.
Most franchise business end up in the $500,000-$ 600,000 range. You can probably make $80,000-$ 110,000, sure. Yet you likewise do not ever before have adequate margin to employ various other people to run the entire service, which is among the best benefits to building a firm.
You probably aren't creating adequate profits to even employ truly solid staff members. In our company, we pay regarding 5-6% to our manufacturing manager that supervises $1,000,000 in production. That's $50,000-$ 60,000 each year for the supervisor. Yet if you are just doing $500,000 a year in profits, you can pay 5% ($ 25,000) to your production supervisor, which is insufficient money for a solid staff member.
Your alternatives are to pay a higher percentage (killing your earnings margin), or get the job done yourself (killing your way of living). Both of which are not extremely appealing choices.
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IN SUMMARY:
You pay a whole lot of cash to limit your development, you do not reach construct your very own point, and if you wish to grow geographically you need to pay for the legal rights to do so ... assuming nobody else currently possesses the rights to the area you are shopping.
Due to your restrictions, and the high aristocracy cost, you are dramatically restricted in your ability to grow your earnings, construct a solid team, as well as build a large service.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong company plan
# 2-- They do it for the support and also training supplied 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 fear of failure
Now, allow's check out solutions. How can you obtain all the benefits without paying the steep price of a franchise business?

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

BENEFIT # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My training course includes training and also assistance. When you get going with Painting Business Academy, you get accessibility to the whole business 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 join Painting Business Academy, you additionally join our private members-only Facebook group. We have dozens of concerns asked everyday from our participants.
Our neighborhood is extremely involved as well as energetic.
Individuals in our neighborhood even share their successes. Simply recently someone shared a Facebook marketing method, word for word, that's eliminating it for their company.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more cash does not eliminate the worry of failing. With Painting Business Academy, you can obtain access to a solid organisation plan, service training, as well as all of the done-for-you types as well as systems that are verified to construct a million-dollar painting service.
You also obtain access to the remarkable area of similar entrepreneurs doing the exact same thing as you that we spoke around earlier. While you do pay 1/10th of the price up front (on the luxury), you have NO aristocracies to pay afterwards.
The likelihood of failure coincides whether you are in a franchise business or running your very own service. When you buy a franchise, you are taking a bigger threat, implying there's a larger failing if you do fail.

SO WHAT NOW?
Before you purchase a franchise business and throw countless dollars down the toilet for a proven system, you may wish to check out Painting Business Academy.
Painting Business Academy is likewise a tried and tested system to construct a million-dollar painting company, with a neighborhood of thousands of others. Additionally, there is no recurring royalty, and no geographical limitations to development.
Obtain every one of the advantages of a Painting Business Franchise in Paradise NV for a portion of the cost. Inspect the course out here as well as call me if you have any kind of inquiries.
The painting business is a fantastic company to be in! I wish you'll be a part 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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