Don't Buy A Painting Business Franchise in The Woodlands TX

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Should You Buy a Painting Business Franchise in The Woodlands TX ?

Don't Buy a Painting Business Franchise in The Woodlands 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 The Woodlands 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
• 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 The Woodlands TX

If you are thinking about getting a painting franchise business, stop right currently.
I'm mosting likely to break down the basic issues with buying a paint franchise business, and the different choices you need to start a painting company.

This is based on my experience growing a effective paint company where we took into consideration coming to be a franchise yet went with a partnership arrangement instead. I hear the battles of franchisee's regularly, and also I really feel for them.



Painting Business Franchise in The Woodlands 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 The Woodlands 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 The Woodlands TX ?

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

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BR> I do not want you to end up in the very same placement that several franchisees discover themselves in.
There is a far better method! We will certainly start with the issues of a franchise, then we'll get right 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 out there.
These franchise business vary from $10,000-$ 40,000 in franchise business fees just for the right to the franchise business in a minimal variety of zip codes where you can run your franchise business.
They additionally take 6-9% as an continuous nobility ... for life.
If you are in company for 10 years as well as you create $5,000,000 in profits, this franchise winds up costing you upwards of $500,000. That's a steep price to pay.
And certainly you obtain some support and service systems, however every little thing that a franchise offers can be gotten with various other opportunities for much less than $500,000.

TROUBLE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you get a Painting Business Franchise in The Woodlands TX you are purchasing the civil liberties to that organisation in a set region. You are designated a tiny number of postal code where you have the legal rights to business.
This is a HUGE trouble. The easiest method to expand as well as expand a painting service is by increasing geographically. Franchise business take away this.
Painter Choice is our marketing company. We work with franchisees throughout the country. I constantly feel dreadful for these local business owner because they have such a tough time creating service.
A typical company in Atlanta, for example, can use our lead solution in North Atlanta to generate 20-30 leads monthly.
A franchisee in North Atlanta who only has the legal rights to 7-8 zip codes can only produce 5-7 leads per month from our lead service.
To put it simply, if those franchisees had their own service, they could instantly boost their service 3-5 times! In various other terms, that indicates an increase from $500,000 to $2,000,000. This is a large limitation on your possible service growth.
As a franchisee, your only alternative is to acquire even more region, or such it up and maintain your business small.
If someone else currently has the neighboring region, you don't have that option.

TROUBLES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Essentially, franchisees as well as the franchisor have actually misaligned incentives. The franchisor desires to create as much revenue as possible because they make money a collection percent of profits.
Yet as business owner, your objective is to make best use of earnings.
I'm a large follower in aligning motivations, and also in this instance, rewards are not aligned. They are playing a various video game than you are. They intend to maximize income in all of their areas, and market as several franchise business as they can.

TROUBLE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're getting a work. Allow me reveal you why.
Since of nobilities, your margins wind up being around 10% -12% nevertheless service expenses.
In order to make $100k/year you would certainly need to have a $1,000,000 service.
However you can't have a $1,000,000 service in the little territory. And also even if you can, you're stuck at a maximum of $100,000 on your own. You're paying $70k-$ 100k/year in royalties for what?
That's a ridiculous quantity of cash to pay your franchise business ... the same company that has an agreement that they hold over your head not enabling you to expand your business geographically.
They've got you by the balls.
Or, you can acquire an additional territory to expand. Again ... I would certainly rather not have to pay for the right to expand my organisation. That's silly.
Most franchise business end up in the $500,000-$ 600,000 array. You can possibly make $80,000-$ 110,000, sure. Yet you likewise don't ever before have enough margin to hire various other people to run the entire business, which is one of the greatest advantages to constructing a business.
You most likely aren't producing sufficient profits to also hire actually strong workers. In our business, we pay regarding 5-6% to our manufacturing supervisor who oversees $1,000,000 in manufacturing. That's $50,000-$ 60,000 each year for the supervisor. If you are just doing $500,000 a year in revenue, you can pay 5% ($ 25,000) to your production supervisor, which is not adequate cash for a strong employee.
Your options are to pay a higher percentage (killing your revenue margin), or do the work yourself (killing your way of life). Both of which are not really eye-catching alternatives.
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IN SUMMARY:
You pay a great deal of cash to restrict your development, you do not reach develop your own point, as well as if you wish to expand geographically you require to spend for the rights to do so ... assuming nobody else already possesses the legal rights to the region you are trying to buy.
Due to your restrictions, as well as the high aristocracy charge, you are considerably restricted in your ability to expand your profits, develop a strong team, and build a huge business.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid organisation strategy
# 2-- They do it for the support and also training given by the franchise business
# 3-- They do it for the neighborhood of other franchisees so they aren't alone
# 4-- They do it out of anxiety of failing
Currently, let's look at remedies. How can you obtain all the benefits without paying the steep cost of a franchise business?

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

BENEFIT # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My training course includes training and also assistance. When you start with Painting Business Academy, you obtain accessibility to the entire organisation system and all of the training that goes along with that system.

ADVANTAGE # 3: THEY DO IT FOR THE COMMUNITY SO THEY AREN'T ALONE
When you join Painting Business Academy, you likewise join our private members-only Facebook group. We have dozens of inquiries asked every day from our participants.
Our area is extremely engaged and energetic.
People in our community even share their successes. Simply recently a person shared a Facebook advertising approach, word for word, that's killing it for their company.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more cash does not eliminate the worry of failing. With Painting Business Academy, you can get accessibility to a solid business strategy, organisation training, and all of the done-for-you forms as well as systems that are shown to build a million-dollar painting organisation.
You additionally obtain access to the remarkable community of similar business owners doing the same thing as you that we spoke about previously. While you do pay 1/10th of the price in advance (on the high end), you have NO aristocracies to pay afterwards.
The probability of failure coincides whether you remain in a franchise business or running your own organisation. When you get a franchise business, you are taking a larger risk, suggesting there's a bigger failing if you do stop working.

WHAT NOW?
Prior to you invest in a franchise business and also throw hundreds of bucks down the toilet for a tried and tested system, you may desire to take a look at Painting Business Academy.
Painting Business Academy is also a tried and tested system to build a million-dollar painting firm, with a area of numerous others. Furthermore, there is no ongoing nobility, and no geographical restrictions to development.
Get every one of the benefits of a Painting Business Franchise in The Woodlands TX for a portion of the rate. Inspect the course out right here and call me if you have any type of concerns.
The paint business is a fantastic business to be in! I wish you'll belong of it quickly.
Excellent 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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