Don't Buy A Painting Business Franchise in Round Rock TX

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Should You Buy a Painting Business Franchise in Round Rock TX ?

Don't Buy a Painting Business Franchise in Round Rock TX

• 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 Round Rock TX
• 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 Round Rock TX

If you are assuming of purchasing a painting franchise, quit now.
I'm going to break down the fundamental issues with getting a paint franchise business, and the alternate choices you need to begin a painting firm.

This is based on my experience expanding a successful painting company where we took into consideration becoming a franchise business yet chose a collaboration arrangement instead. I hear the battles of franchisee's regularly, and also I feel for them.



Painting Business Franchise in Round Rock TX 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 Round Rock TX 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 Round Rock TX ?

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Is it better to start a painting business or buy a Painting Business Franchise in Round Rock TX ?

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BR> I don't want you to end up in the same position that numerous franchisees discover themselves in.
There is a better way! We will begin with the troubles of a franchise, after that we'll obtain into options.

PROBLEM # 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 available.
These franchises vary from $10,000-$ 40,000 in franchise business fees just for the right to the franchise business in a minimal number of zip codes where you can operate your franchise.
They likewise take 6-9% as an continuous aristocracy ... for life.
If you stay in business for 10 years and also you produce $5,000,000 in earnings, this franchise business ends up costing you upwards of $500,000. That's a high rate to pay.
As well as of course you get some assistance and also service systems, however whatever that a franchise business provides can be obtained through various other methods for a lot less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you acquire a Painting Business Franchise in Round Rock TX you are acquiring the rights to that business in a set territory. You are assigned a handful of postal code where you have the legal rights to business.
This is a HUGE trouble. The simplest method to grow as well as expand a painting service is by increasing geographically. Franchises take away this.
Painter Choice is our advertising and marketing business. We deal with franchisees all over the nation. I constantly feel awful for these entrepreneur since they have such a tough time creating business.
A typical firm in Atlanta, as an example, can utilize our lead solution in North Atlanta to create 20-30 leads each month.
A franchisee in North Atlanta who just possesses the legal rights to 7-8 zip codes can only create 5-7 leads per month from our lead service.
To put it simply, if those franchisees had their very own service, they could immediately increase their company 3-5 times! In various other terms, that implies an boost from $500,000 to $2,000,000. This is a enormous limitation on your possible company development.
As a franchisee, your only choice is to purchase even more region, or such it up and maintain your business tiny.
But if another person currently possesses the neighboring territory, you don't have that choice.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Essentially, franchisees as well as the franchisor have actually misaligned rewards. The franchisor wants to create as much profits as feasible since they earn money a collection percent of revenue.
As the service proprietor, your goal is to make best use of profit.
I'm a large follower in lining up motivations, and in this situation, incentives are not lined up. They are playing a various video game than you are. They wish to make the most of profits in all of their regions, and also market as many franchise business as they can.

TROUBLE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're getting a work. Let me reveal you why.
Due to the fact that of royalties, your margins wind up being around 10% -12% after all organisation expenses.
In order to make $100k/year you would certainly have to have a $1,000,000 company.
But you can't have a $1,000,000 company in the little territory. 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 of what?
That's a ridiculous amount of cash to pay your franchise business ... the same firm that has an agreement that they hold over your head not permitting you to expand your service geographically.
They've got you by the rounds.
Or, you can purchase another region to expand. Once again ... I would certainly rather not have to pay for the right to expand my service. That's ridiculous.
The majority of franchise business wind up in the $500,000-$ 600,000 variety. You can probably make $80,000-$ 110,000, sure. You additionally don't ever have enough margin to employ various other individuals to run the whole organisation, which is one of the biggest benefits to developing a company.
You possibly aren't creating adequate profits to also employ 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 each year for the manager. If you are just doing $500,000 a year in earnings, you can pay 5% ($ 25,000) to your manufacturing manager, which is not sufficient cash for a strong staff member.
Your options are to pay a higher portion ( eliminating your profit margin), or do the task on your own ( eliminating your lifestyle). Both of which are not extremely appealing choices.
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IN SUMMARY:
You pay a great deal of money to limit your development, you do not reach construct your very own point, and also if you intend to grow geographically you need to spend for the legal rights to do so ... presuming no one else currently possesses the civil liberties to the territory you are trying to acquire.
As a result of your constraints, and also the high aristocracy cost, you are significantly restricted in your capability to expand your income, develop a strong team, and also develop a big service.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong company strategy
# 2-- They do it for the support and training offered by the franchise
# 3-- They do it for the community of other franchisees so they aren't alone
# 4-- They do it out of concern of failing
Currently, let's consider solutions. Exactly how can you get all the benefits without paying the steep 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 purchase my company system. This is the specific company system we use and adhere to in our organisation, which did over $3,000,000 in earnings in 2016.

BENEFIT # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My program consists of training as well as assistance. When you get going with Painting Business Academy, you obtain accessibility to the entire organisation system and also 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 also join our personal members-only Facebook team. We have loads of inquiries asked every day from our participants.
Our area is extremely involved and also energetic.
Individuals in our area also share their successes. Simply a few days ago a person shared a Facebook advertising and marketing technique, word for word, that's killing it for their organisation.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more cash does not eliminate the fear of failure. With Painting Business Academy, you can obtain accessibility to a strong service strategy, business training, and all of the done-for-you forms and also systems that are verified to develop a million-dollar paint company.
You additionally obtain accessibility to the fantastic area of similar entrepreneurs doing the same thing as you that we discussed earlier. While you do pay 1/10th of the expense 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. When you purchase a franchise business, you are taking a larger danger, meaning there's a bigger failing if you do fall short.

SO WHAT NOW?
Prior to you purchase a franchise business and toss hundreds of bucks down the toilet for a tried and tested system, you may intend to take a look at Painting Business Academy.
Painting Business Academy is additionally a tested system to develop a million-dollar painting company, with a area of numerous others. In enhancement, there is no ongoing nobility, and no geographical limitations to growth.
Get all of the benefits of a Painting Business Franchise in Round Rock TX for a portion of the rate. Check the training course out below and contact me if you have any type of questions.
The paint business is a fantastic company to be in! I hope 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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