Don't Buy A Painting Business Franchise in Salt Lake City UT

1. Home
2. Don't Buy A Painting Business Franchise in Salt Lake City UT

---

---

---

Up One Level
Painting Franchise - PaintingBusinessAcademy.com ##generated-article-tags##

Should You Buy a Painting Business Franchise in Salt Lake City UT ?

Don't Buy a Painting Business Franchise in Salt Lake City UT

• 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 Salt Lake City UT
• 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

******************************************************************************
• Learn How a $1,000,000 Painting Business Works
.rssEntrywidth:800px;margin:10px;padding:8px;border:1px solid #999999;font-family:arial; .rssTitlefont-size:1.3em; .rssTitle atext-decoration:none; .rssCreatordisplay:inline-block;width:200px;font-size:0.8em; .rssCategorydisplay:inline-block;width:200px;font-size:0.8em; .rssPubDatedisplay:inline-block;width:200px;font-size:0.8em; .rssChannelLinkfont-size:0.8em; .rssContent .rssChannelTitlefont-size:0.8em; .rssDescriptionfont-size:0.8em;color:black; .rssAttrwidth:650px; .rssSourcewidth:650px;

• 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 Salt Lake City UT

If you are assuming of purchasing a paint franchise business, quit now.
I'm mosting likely to damage down the fundamental troubles with getting a paint franchise, as well as the different choices you have to begin a painting firm.

This is based on my experience growing a successful paint organisation where we thought about coming to be a franchise yet selected a partnership setup instead. I listen to the struggles of franchisee's frequently, and also I really feel for them.



Painting Business Franchise in Salt Lake City UT FAQs
How much does it cost to open your own franchise?

---

Are painting companies profitable?

---

How much is a Five Star Painting Franchise?

---

Is painting a good business to start?

---

How much do painters make?

---

How much money can you make owning a painting business?

---

How can I start a painting business with no money?

---

Is painting a good trade?

---

Is a Painting Business Franchise in Salt Lake City UT a good investment?

---

Is it hard to start a painting business?

---

---

How can I promote my painting business?

---

How do I market my painting business?

---

What are the disadvantages of a Painting Business Franchise in Salt Lake City UT ?

---

Is it better to start a painting business or buy a Painting Business Franchise in Salt Lake City UT ?

---

BR> I don't desire you to wind up in the exact same setting that several franchisees locate themselves in.
There is a far better means! We will start with the problems of a franchise, then we'll get involved in solutions.

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 bigger franchises around.
These franchises range from $10,000-$ 40,000 in franchise business charges simply for the right to the franchise in a limited number of postal code where you can operate your franchise business.
They also take 6-9% as an continuous aristocracy ... forever.
If you are in service for 10 years as well as you generate $5,000,000 in revenue, this franchise winds up costing you upwards of $500,000. That's a steep rate to pay.
And certainly you get some assistance and service systems, yet whatever that a franchise business gives can be acquired through various other avenues for much less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you buy a Painting Business Franchise in Salt Lake City UT you are purchasing the rights to that service in a established territory. You are assigned a tiny number of zip codes where you have the legal rights to business.
This is a HUGE issue. The easiest means to grow as well as broaden a paint service is by broadening geographically. Franchises eliminate this right.
Painter Choice is our advertising and marketing company. We collaborate with franchisees around the nation. I constantly really feel horrible for these local business owner because they have such a tough time creating organisation.
A normal company in Atlanta, for instance, can utilize our lead service in North Atlanta to produce 20-30 leads each month.
However a franchisee in North Atlanta who just has the civil liberties to 7-8 zip codes can just create 5-7 leads monthly from our lead service.
In other words, if those franchisees had their own business, they might right away increase their business 3-5 times! In various other terms, that means an rise from $500,000 to $2,000,000. This is a massive limitation on your prospective business development.
As a franchisee, your only alternative is to purchase even more region, or such it up and keep your organisation small.
If a person else already owns the close-by area, you don't have that alternative.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees as well as the franchisor have misaligned rewards. The franchisor intends to create as much income as feasible because they obtain paid a collection percent of profits.
Yet as business owner, your objective is to make the most of profit.
I'm a big 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 desire to make the most of income in all of their regions, and also market as several franchise business as they can.

PROBLEM # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're buying a job. Let me show you why.
Since of aristocracies, your margins wind up being around 10% -12% after all overhead.
In order to make $100k/year you 'd need to have a $1,000,000 business.
You can't have a $1,000,000 organisation in the little region. And also also if you can, you're stuck at a optimum of $100,000 on your own. You're paying $70k-$ 100k/year in royalties for what?
That's a ridiculous amount of cash to pay your franchise business ... the very same business that has an agreement that they hold over your head not permitting you to expand your service geographically.
They've got you by the balls.
Or, you can buy another area to expand. Once again ... I 'd rather not have to pay for the right to grow my company. That's unreasonable.
The majority of franchise business wind up in the $500,000-$ 600,000 array. You can most likely make $80,000-$ 110,000, sure. You likewise don't ever have adequate margin to work with various other individuals to run the entire business, which is one of the best benefits to constructing a business.
You possibly aren't creating enough profits to also hire really solid staff members. In our firm, we pay concerning 5-6% to our production manager that oversees $1,000,000 in manufacturing. That's $50,000-$ 60,000 each year for the supervisor. But if you are only doing $500,000 a year in earnings, you can pay 5% ($ 25,000) to your production manager, which is inadequate cash for a solid worker.
Your choices are to pay a higher portion ( eliminating your earnings margin), or do the work on your own ( eliminating your way of life). Both of which are not very appealing alternatives.
.compImageDiv display:inline-block;width:220px;max-height:220px;padding:8px;margin:8px;border:1px solid #999999;.compImage display:inline-block;max-width:200px;max-height:200px;margin:8px;


IN SUMMARY:
You pay a great deal of cash to restrict your development, you don't reach build your own point, as well as if you desire to grow geographically you need to pay for the legal rights to do so ... thinking nobody else currently owns the rights to the area you are trying to purchase.
As a result of your limitations, and also the high aristocracy charge, you are considerably limited in your capability to expand your income, construct a strong team, and develop a large organisation.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid business plan
# 2-- They do it for the assistance and also training supplied by the franchise
# 3-- They do it for the neighborhood of other franchisees so they aren't alone
# 4-- They do it out of worry of failure
Now, allow's consider options. Just how can you get all the advantages without paying the steep cost of a franchise?

BENEFIT # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the price of a franchise business, you can acquire my organisation system. This is the exact service system we make use of and comply with in our service, which corrected $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 company 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 sign up with Painting Business Academy, you additionally join our private members-only Facebook team. We have lots of concerns asked daily from our participants.
Our neighborhood is very engaged as well as energetic.
People in our community even share their successes. Simply recently someone shared a Facebook advertising and marketing method, word for word, that's eliminating it for their service.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more cash does not get rid of the anxiety of failure. With Painting Business Academy, you can get access to a strong business strategy, organisation training, as well as all of the done-for-you forms and also systems that are proven to build a million-dollar painting company.
You additionally get accessibility to the outstanding area of like-minded business owners doing the very same point as you that we discussed previously. While you do pay 1/10th of the price up front (on the high end), you have NO nobilities to pay after that.
The chance of failing is the exact same whether you are in a franchise or running your very own company. When you get a franchise, you are taking a bigger risk, suggesting there's a bigger failing if you do fail.

WHAT NOW?
Before you spend in a franchise and toss hundreds of dollars down the commode for a proven system, you may wish to examine out Painting Business Academy.
Painting Business Academy is also a tried and tested system to build a million-dollar painting company, with a neighborhood of hundreds of others. In enhancement, there is no ongoing nobility, as well as no geographical restrictions to growth.
Obtain every one of the advantages of a Painting Business Franchise in Salt Lake City UT for a fraction of the cost. Examine the program out right here and contact me if you have any type of inquiries.
The paint business is a excellent company to be in! I hope you'll be a part of it quickly.
Best of luck!

• painting
• franchise
• painter1
• business
• franchises
• opportunities
• coming soon
• ready
• own
• opportunity
• painting franchises
• support
• franchising
• services
• training
• industry
• painting business academy
• cost
• investment
• businesses
• ownership
• company
• 2020
• world
• owners
• achieve
• dreammaker
• information
• success
• plan
• lowest
• opportunity guide
• painter
• ready to get started
• ranking
• repair and painting
• resources
• community
• learn
• achieve success
• expect to achieve
• painting franchise cost
• local
• ability to grow
• business plan
• understanding the ranking
• results
• stability
• owning a successful business
• house painting
• featured opportunities
• residential and commercial painting
• successful business
• training and support
• selections
• business owner
• purpose
• own painting company
• array
• diverse pool of opportunities
• costs
• growth
• locations

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.

PaintingBusinessAcademy.com

Terms of Service

Disclosure Statement

DMCA

Privacy Statement

Contact

Last Article     Next Post
More Info.
Don't Buy A Painting Business Franchise in Chula Vista CA
Don't Buy A Painting Business Franchise in Arlington VA
Don't Buy A Painting Business Franchise in Montgomery AL
Don't Buy A Painting Business Franchise in Minneapolis MN
Don't Buy A Painting Business Franchise in Seattle WA

---

---