Don't Buy A Painting Business Franchise in San Jose CA

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Painting Franchise - PaintingBusinessAcademy.com ##generated-article-tags##

Should You Buy a Painting Business Franchise in San Jose CA ?

Don't Buy a Painting Business Franchise in San Jose 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 San Jose 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 San Jose CA

If you are thinking of getting a paint franchise business, stop today.
I'm going to break down the essential troubles with acquiring a painting franchise, as well as the different choices you need to start a paint firm.

This is based on my experience expanding a successful painting service where we thought about ending up being a franchise but chose for a partnership configuration instead. I hear the battles of franchisee's continuously, and also I really feel for them.



Painting Business Franchise in San Jose 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 San Jose 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 San Jose CA ?

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

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BR> I do not desire you to end up in the very same position that many franchisees find themselves in.
There is a far better method! We will begin with the problems of a franchise business, after that we'll enter into solutions.

ISSUE # 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 larger franchise business around.
These franchises vary from $10,000-$ 40,000 in franchise charges simply for the right to the franchise in a minimal number of postal code where you can run your franchise.
They also take 6-9% as an recurring royalty ... permanently.
If you stay in business for 10 years and you create $5,000,000 in earnings, this franchise ends up costing you upwards of $500,000. That's a steep price to pay.
And also naturally you get some assistance as well as service systems, however everything that a franchise business supplies can be acquired via other opportunities for much less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you acquire a Painting Business Franchise in San Jose CA you are purchasing the civil liberties to that organisation in a established area. You are designated a small number of postal code where you have the rights to business.
This is a HUGE trouble. The simplest way to grow and broaden a paint service is by expanding geographically. Franchise business take away this.
Painter Choice is our marketing business. We deal with franchisees throughout the nation. I always really feel terrible for these company owner because they have such a tough time creating company.
A regular company in Atlanta, for instance, can utilize our lead service in North Atlanta to produce 20-30 leads monthly.
A franchisee in North Atlanta that just possesses the rights to 7-8 zip codes can just create 5-7 leads per month from our lead service.
Simply put, if those franchisees had their very own organisation, they can quickly enhance their company 3-5 times! In other terms, that indicates an boost from $500,000 to $2,000,000. This is a large restriction on your potential service growth.
As a franchisee, your only option is to purchase more region, or such it up and maintain your service little.
If a person else already possesses the nearby region, you don't have that choice.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees and the franchisor have actually misaligned rewards. The franchisor wishes to produce as much earnings as feasible because they make money a set percent of profits.
Yet as business proprietor, your objective is to make best use of revenue.
I'm a huge believer in aligning rewards, as well as in this situation, motivations are not lined up. They are playing a different video game than you are. They desire to make the most of income in all of their regions, and offer as numerous franchises as they can.

TROUBLE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're getting a work. Let me show you why.
Because of nobilities, your margins wind up being around 10% -12% besides organisation expenses.
In order to make $100k/year you would certainly need to have a $1,000,000 organisation.
You can not have a $1,000,000 organisation in the tiny area. As well as also if you can, you're stuck at a optimum of $100,000 on your own. You're paying $70k-$ 100k/year in nobilities wherefore?
That's a ridiculous quantity of money to pay your franchise ... the same firm that has an arrangement that they hold over your head not permitting you to expand your business geographically.
They've obtained you by the spheres.
Or, you can buy an additional territory to expand. Again ... I 'd instead not have to pay for the right to grow my organisation. That's ridiculous.
The majority of franchise business end up in the $500,000-$ 600,000 variety. You can most likely make $80,000-$ 110,000, sure. You additionally do not ever before have sufficient margin to hire other people to run the whole organisation, which is one of the best benefits to constructing a business.
You possibly aren't producing sufficient profits to even work with actually strong workers. In our firm, we pay concerning 5-6% to our production supervisor that manages $1,000,000 in production. That's $50,000-$ 60,000 each year for the manager. If you are only doing $500,000 a year in revenue, you can pay 5% ($ 25,000) to your production supervisor, which is not enough cash for a strong worker.
Your options are to pay a greater percent (killing your earnings margin), or do the job yourself ( eliminating your way of living). Both of which are not really appealing options.
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IN SUMMARY:
You pay a great deal of cash to limit your growth, you do not get to construct your very own thing, and also if you desire to grow geographically you need to pay for the legal rights to do so ... assuming nobody else already owns the legal rights to the region you are shopping.
Because of your restrictions, as well as the high royalty charge, you are substantially restricted in your capacity to expand your profits, develop a solid group, and also develop a huge company.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong organisation strategy
# 2-- They do it for the support as well as 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 worry of failure
Currently, allow's check out options. Exactly how can you get all the advantages without paying the steep rate of a franchise business?

BENEFIT # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the price of a franchise, you can purchase my organisation system. This is the exact organisation system we use and follow in our business, which corrected $3,000,000 in income in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My training course includes training as well as support. When you begin with Painting Business Academy, you obtain access to the entire organisation system as well as all of the training that supports that system.

ADVANTAGE # 3: THEY DO IT FOR THE COMMUNITY SO THEY AREN'T ALONE
When you sign up with Painting Business Academy, you also join our exclusive members-only Facebook team. We have loads of questions asked daily from our participants.
Our neighborhood is very engaged and also active.
Individuals in our community even share their successes. Just a few days ago somebody shared a Facebook marketing approach, word for word, that's eliminating it for their organisation.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more money does not get rid of the anxiety of failing. With Painting Business Academy, you can obtain access to a solid organisation plan, business training, as well as all of the done-for-you kinds and systems that are verified to build a million-dollar painting company.
You likewise obtain access to the outstanding community of similar entrepreneurs doing the exact same thing as you that we spoke about earlier. While you do pay 1/10th of the price in advance (on the high-end), you have NO aristocracies to pay afterwards.
The likelihood of failure coincides whether you are in a franchise business or running your very own organisation. When you acquire a franchise business, you are taking a bigger risk, indicating there's a larger failure if you do fall short.

SO WHAT NOW?
Before you spend in a franchise and also throw thousands of dollars down the toilet for a tried and tested system, you may want to have a look at Painting Business Academy.
Painting Business Academy is also a tried and tested system to develop a million-dollar painting company, with a area of numerous others. On top of that, there is no continuous nobility, and no geographical constraints to development.
Obtain every one of the advantages of a Painting Business Franchise in San Jose CA for a portion of the price. Check the program out below and also call me if you have any type of inquiries.
The painting business is a terrific company to be in! I wish you'll be a part of it soon.
All the best!

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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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