Don't Buy A Painting Business Franchise in Redwood City CA

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Should You Buy a Painting Business Franchise in Redwood City CA ?

Don't Buy a Painting Business Franchise in Redwood City CA

• 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 Redwood City CA
• 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 Redwood City CA

If you are thinking about acquiring a paint franchise, stop today.
I'm going to break down the essential problems with getting a painting franchise, as well as the alternate options you need to start a painting firm.

This is based on my experience expanding a successful paint service where we thought about ending up being a franchise business but chose a collaboration arrangement rather. I hear the struggles of franchisee's frequently, and I feel for them.



Painting Business Franchise in Redwood City CA 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 Redwood City CA 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 Redwood City CA ?

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Is it better to start a painting business or buy a Painting Business Franchise in Redwood City CA ?

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BR> I don't want you to end up in the very same setting that numerous franchisees discover themselves in.
There is a far better means! We will begin with the troubles of a franchise business, then we'll enter into 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 range from $10,000-$ 40,000 in franchise charges just for the right to the franchise business in a limited variety of postal code where you can run your franchise business.
They likewise take 6-9% as an ongoing royalty ... for life.
If you are in company for 10 years and also you generate $5,000,000 in revenue, this franchise business finishes up costing you upwards of $500,000. That's a high rate to pay.
And naturally you obtain some support as well as service systems, however whatever that a franchise business provides can be obtained through other methods for much less than $500,000.

TROUBLE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you purchase a Painting Business Franchise in Redwood City CA you are buying the rights to that organisation in a established area. You are appointed a handful of postal code where you have the rights to the organisation.
This is a HUGE issue. The simplest method to expand and also increase a painting organisation is by increasing geographically. Franchises remove this right.
Painter Choice is our marketing business. We deal with franchisees around the country. I constantly feel terrible for these entrepreneur due to the fact that they have such a difficult time producing organisation.
A common business in Atlanta, for example, can utilize our lead solution in North Atlanta to generate 20-30 leads each month.
But a franchisee in North Atlanta that only has the civil liberties to 7-8 postal code can only generate 5-7 leads monthly from our lead solution.
To put it simply, if those franchisees had their very own organisation, they might instantly enhance their company 3-5 times! In other terms, that suggests an boost from $500,000 to $2,000,000. This is a huge limitation on your possible organisation development.
As a franchisee, your only option is to acquire even more area, or such it up and keep your company little.
If a person else already has the neighboring area, you don't have that alternative.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees and also the franchisor have actually misaligned rewards. The franchisor intends to create as much income as possible due to the fact that they get paid a collection percent of earnings.
However as the business owner, your objective is to make the most of revenue.
I'm a huge follower in lining up incentives, as well as in this case, motivations are not aligned. They are playing a various game than you are. They intend to optimize revenue in all of their areas, and also offer as many franchise business as they can.

ISSUE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're acquiring a work. Allow me show you why.
As a result of aristocracies, your margins wind up being around 10% -12% nevertheless company expenses.
In order to make $100k/year you would certainly need to have a $1,000,000 company.
Yet you can't have a $1,000,000 organisation in the tiny region. 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 nobilities wherefore?
That's a ludicrous quantity of money to pay your franchise ... the exact same business that has an arrangement that they hold over your head not enabling you to expand your organisation geographically.
They've obtained you by the spheres.
Or, you can purchase one more region to expand. Once again ... I 'd instead not have to pay for the right to expand my service. That's ridiculous.
The majority of franchises finish up in the $500,000-$ 600,000 variety. You can most likely make $80,000-$ 110,000, sure. However you also do not ever before have sufficient margin to employ other individuals to run the whole business, which is just one of the best advantages to developing a business.
You probably aren't producing adequate earnings to even hire really strong workers. In our business, we pay about 5-6% to our manufacturing manager who manages $1,000,000 in production. That's $50,000-$ 60,000 per 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 enough money for a solid worker.
Your choices are to pay a greater portion (killing your earnings margin), or get the job done yourself ( eliminating your way of life). Both of which are not very appealing options.
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IN SUMMARY:
You pay a great deal of cash to limit your growth, you do not get to build your own point, and if you desire to expand geographically you need to spend for the civil liberties to do so ... thinking nobody else currently possesses the legal rights to the region you are attempting to purchase.
Due to your limitations, and also the high nobility charge, you are dramatically restricted in your ability to grow your earnings, develop a solid group, as well as develop a huge organisation.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid organisation plan
# 2-- They do it for the assistance and also training provided 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 anxiety of failure
Currently, let's look at services. 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 expense of a franchise business, you can buy my organisation system. This is the exact business system we use and also adhere to in our organisation, which did over $3,000,000 in profits in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My program includes training and also assistance. When you get going with Painting Business Academy, you obtain access to the entire service system as well as all of the training that supports that system.

BENEFIT # 3: THEY DO IT FOR THE COMMUNITY SO THEY AREN'T ALONE
When you join Painting Business Academy, you also join our personal members-only Facebook group. We have lots of concerns asked each day from our members.
Our neighborhood is highly engaged as well as active.
Individuals in our area also share their successes. Simply the other day somebody shared a Facebook advertising approach, word for word, that's killing it for their business.

ADVANTAGE # 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 access to a solid service plan, business training, and all of the done-for-you forms as well as systems that are shown to develop a million-dollar painting organisation.
You likewise get accessibility to the incredible neighborhood of like-minded business owners doing the same thing as you that we spoke about earlier. While you do pay 1/10th of the expense in advance (on the high end), you have NO royalties to pay after that.
The chance of failing is the same whether you remain in a franchise or running your very own business. Nevertheless, when you purchase a franchise, you are taking a bigger threat, implying there's a larger failure if you do fall short.

SO WHAT NOW?
Prior to you buy a franchise business and throw thousands of dollars down the bathroom for a tried and tested system, you may wish to look into Painting Business Academy.
Painting Business Academy is also a tested system to develop a million-dollar paint business, with a area of numerous others. Furthermore, there is no ongoing royalty, and no geographical constraints to development.
Get all of the advantages of a Painting Business Franchise in Redwood City CA for a portion of the rate. Inspect the course out right here as well as contact me if you have any type of inquiries.
The painting business is a fantastic company to be in! I wish you'll belong of it soon.
Good 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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