Don't Buy A Painting Business Franchise in Valdosta GA

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

Should You Buy a Painting Business Franchise in Valdosta GA ?

Don't Buy a Painting Business Franchise in Valdosta GA

• 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 Valdosta GA
• 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 Valdosta GA

If you are assuming of buying a paint franchise, quit right currently.
I'm going to damage down the fundamental issues with buying a painting franchise business, as well as the different choices you need to start a paint business.

This is based upon my experience expanding a effective painting organisation where we took into consideration coming to be a franchise business yet chose a partnership configuration rather. I hear the struggles of franchisee's frequently, as well as I really feel for them.



Painting Business Franchise in Valdosta GA 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 Valdosta GA 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 Valdosta GA ?

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Is it better to start a painting business or buy a Painting Business Franchise in Valdosta GA ?

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BR> I do not desire you to wind up in the exact same placement that several franchisees find themselves in.
There is a much better method! We will begin with the troubles of a franchise, then we'll get into options.

TROUBLE # 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 franchises available.
These franchise business vary from $10,000-$ 40,000 in franchise business costs simply for the right to the franchise business in a restricted variety of zip codes where you can run your franchise business.
They likewise take 6-9% as an ongoing royalty ... permanently.
If you stay in business for 10 years and also you generate $5,000,000 in income, this franchise finishes up costing you upwards of $500,000. That's a high price to pay.
As well as certainly you obtain some assistance and company systems, but every little thing that a franchise business gives can be acquired via other opportunities for a lot less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you get a Painting Business Franchise in Valdosta GA you are acquiring the civil liberties to that service in a set region. You are appointed a handful of zip codes where you have the rights to business.
This is a HUGE problem. The most convenient way to grow and increase a paint service is by expanding geographically. Franchises eliminate this right.
Painter Choice is our advertising business. We collaborate with franchisees all over the country. I constantly really feel awful for these business owners since they have such a tough time producing business.
A normal firm in Atlanta, as an example, can utilize our lead solution in North Atlanta to produce 20-30 leads each month.
Yet a franchisee in North Atlanta who only possesses the rights to 7-8 postal code can just generate 5-7 leads monthly from our lead solution.
In various other words, if those franchisees had their very own business, they can right away increase their business 3-5 times! In other terms, that implies an increase from $500,000 to $2,000,000. This is a large constraint on your potential organisation growth.
As a franchisee, your only option is to purchase more territory, or such it up as well as keep your company small.
But if a person else currently owns the nearby territory, you don't have that choice.

PROBLEMS # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees and the franchisor have misaligned motivations. The franchisor wishes to generate as much income as feasible because they make money a collection percent of income.
As the organisation owner, your objective is to make best use of profit.
I'm a big believer in aligning motivations, and also in this case, motivations are not straightened. They are playing a different video game than you are. They wish to make the most of revenue in all of their areas, and market as numerous franchises as they can.

PROBLEM # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're purchasing a work. Allow me show you why.
Due to the fact that of nobilities, your margins wind up being around 10% -12% besides 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 company in the small area. And also even if you can, you're stuck at a maximum of $100,000 for yourself. You're paying $70k-$ 100k/year in nobilities of what?
That's a ludicrous quantity of cash to pay your franchise business ... the very same company that has an arrangement that they hold over your head not enabling you to expand your business geographically.
They've got you by the spheres.
Or, you can get another region to grow. Yet once again ... I 'd rather not have to pay for the right to expand my organisation. That's ridiculous.
A lot of franchises wind up in the $500,000-$ 600,000 range. You can possibly make $80,000-$ 110,000, sure. You likewise do not ever have sufficient margin to employ other people to run the whole company, which is one of the best benefits to constructing a business.
You most likely aren't producing adequate profits to also hire actually solid workers. In our business, we pay about 5-6% to our production manager who oversees $1,000,000 in manufacturing. That's $50,000-$ 60,000 annually for the manager. If you are only doing $500,000 a year in income, you can pay 5% ($ 25,000) to your manufacturing supervisor, which is not enough money for a solid staff member.
Your options are to pay a greater portion ( eliminating your profit margin), or get the job done on your own ( eliminating your lifestyle). Both of which are not extremely appealing options.
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IN SUMMARY:
You pay a great deal of money to limit your development, you do not reach construct your own point, and also if you intend to expand geographically you require to spend for the civil liberties to do so ... presuming no one else currently possesses the civil liberties to the region you are attempting to acquire.
Because of your limitations, and also the high royalty fee, you are dramatically limited in your capacity to expand your profits, develop a solid group, as well as build a large service.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid organisation strategy
# 2-- They do it for the assistance as well as training offered by the franchise business
# 3-- They do it for the area of other franchisees so they aren't alone
# 4-- They do it out of concern of failure
Currently, let's check out options. Just how can you obtain all the advantages without paying the high rate of a franchise business?

ADVANTAGE # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the price of a franchise business, you can acquire my business system. This is the precise organisation system we use as well as comply with in our company, 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 and also assistance. When you begin with Painting Business Academy, you obtain accessibility to the whole service system and also all of the training that goes along with that system.

BENEFIT # 3: THEY DO IT FOR THE COMMUNITY SO THEY AREN'T ALONE
When you join Painting Business Academy, you likewise join our exclusive members-only Facebook team. We have dozens of questions asked daily from our members.
Our area is highly involved and also active.
People in our community also share their successes. Just the other day somebody shared a Facebook advertising technique, word for word, that's killing it for their service.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more cash does not get rid of the fear of failure. With Painting Business Academy, you can get access to a solid organisation plan, company training, and also all of the done-for-you kinds and systems that are confirmed to construct a million-dollar paint organisation.
You additionally get access to the incredible community of similar entrepreneurs doing the exact same thing as you that we discussed previously. While you do pay 1/10th of the cost up front (on the high-end), you have NO aristocracies to pay after that.
The likelihood of failure coincides whether you are in a franchise or running your very own service. When you get a franchise, you are taking a larger risk, indicating there's a larger failing if you do stop working.

WHAT NOW?
Before you buy a franchise business and toss countless dollars down the commode for a tried and tested system, you could intend to look into Painting Business Academy.
Painting Business Academy is also a proven system to build a million-dollar paint business, with a area of numerous others. Furthermore, there is no continuous royalty, and no geographical constraints to development.
Get every one of the advantages of a Painting Business Franchise in Valdosta GA for a fraction of the price. Inspect the training course out here and call me if you have any type of questions.
The painting business is a excellent service 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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