Don't Buy A Painting Business Franchise in West Albany NY

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

Should You Buy a Painting Business Franchise in West Albany NY ?

Don't Buy a Painting Business Franchise in West Albany NY

• 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 West Albany NY
• 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 West Albany NY

If you are believing of getting a paint franchise, quit right currently.
I'm mosting likely to break down the basic troubles with getting a painting franchise business, and also the alternate choices you have to begin a paint business.

This is based on my experience growing a effective paint organisation where we considered ending up being a franchise business however decided for a partnership configuration rather. I listen to the struggles of franchisee's continuously, and also I feel for them.



Painting Business Franchise in West Albany NY 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 West Albany NY 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 West Albany NY ?

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Is it better to start a painting business or buy a Painting Business Franchise in West Albany NY ?

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BR> I don't want you to end up in the very same setting that many franchisees find themselves in.
There is a far better method! We will certainly start with the troubles of a franchise, after that we'll enter remedies.

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 franchises available.
These franchises range from $10,000-$ 40,000 in franchise business fees simply for the right to the franchise in a limited number of postal code where you can operate your franchise.
They likewise take 6-9% as an recurring royalty ... forever.
If you are in service for 10 years and also you generate $5,000,000 in earnings, this franchise business finishes up costing you upwards of $500,000. That's a high cost to pay.
And certainly you obtain some support and also service systems, however whatever that a franchise business offers can be obtained with other avenues for much less than $500,000.

PROBLEM # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you acquire a Painting Business Franchise in West Albany NY you are buying the rights to that company in a set area. You are designated a tiny number of postal code where you have the civil liberties to the business.
This is a HUGE trouble. The most convenient means to grow as well as expand a painting business is by increasing geographically. Franchises take away this.
Painter Choice is our advertising and marketing business. We deal with franchisees around the nation. I constantly really feel awful for these company owner since they have such a hard time generating company.
A regular firm in Atlanta, as an example, can utilize our lead service in North Atlanta to create 20-30 leads per month.
However a franchisee in North Atlanta who just has the legal rights to 7-8 zip codes can only generate 5-7 leads each month from our lead solution.
Simply put, if those franchisees had their own company, they might right away boost their company 3-5 times! In various other terms, that indicates an rise from $500,000 to $2,000,000. This is a enormous constraint on your prospective business growth.
As a franchisee, your only option is to acquire more territory, or such it up and keep your business little.
If a person else already owns the close-by region, you do not have that alternative.

TROUBLES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees and also the franchisor have actually misaligned incentives. The franchisor wants to generate as much profits as feasible due to the fact that they earn money a set percent of earnings.
However as the company owner, your goal is to maximize profit.
I'm a big follower in straightening rewards, and in this case, incentives are not lined up. They are playing a different video game than you are. They wish to maximize income in all of their areas, and also market as many franchise business as they can.

PROBLEM # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're getting a task. Allow me show you why.
As a result of royalties, your margins finish up being around 10% -12% besides overhead.
In order to make $100k/year you would certainly have to have a $1,000,000 service.
Yet you can't have a $1,000,000 service in the tiny area. And also if you can, you're stuck at a maximum of $100,000 on your own. You're paying $70k-$ 100k/year in nobilities for what?
That's a ludicrous quantity of cash to pay your franchise ... the exact same firm that has an agreement that they hold over your head not allowing you to expand your business geographically.
They've got you by the balls.
Or, you can acquire one more territory to grow. Once again ... I would certainly instead not have to pay for the right to grow my company. That's unreasonable.
Most franchises end up in the $500,000-$ 600,000 array. You can possibly make $80,000-$ 110,000, sure. You also don't ever have sufficient margin to work with various other individuals to run the entire business, which is one of the best advantages to building a business.
You possibly aren't producing enough income to also hire actually strong employees. In our firm, we pay regarding 5-6% to our production supervisor that oversees $1,000,000 in production. That's $50,000-$ 60,000 per year for the supervisor. But if you are only doing $500,000 a year in profits, you can pay 5% ($ 25,000) to your production manager, which is not nearly enough cash for a solid staff member.
Your options are to pay a greater portion ( eliminating your earnings margin), or get the job done on your own (killing your lifestyle). Both of which are not extremely appealing options.
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IN SUMMARY:
You pay a whole lot of money to restrict your development, you don't reach develop your very own thing, and if you wish to expand geographically you need to pay for the civil liberties to do so ... presuming nobody else currently possesses the civil liberties to the region you are attempting to purchase.
Because of your restrictions, and also the high aristocracy charge, you are dramatically restricted in your capability to expand your profits, develop a solid group, and also build a huge service.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong business plan
# 2-- They do it for the assistance and training given by the franchise
# 3-- They do it for the neighborhood of other franchisees so they aren't alone
# 4-- They do it out of anxiety of failure
Currently, allow's take a look at remedies. Exactly how can you obtain all the benefits without paying the steep price of a franchise?

ADVANTAGE # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the expense of a franchise, you can acquire my organisation system. This is the specific service system we utilize as well as adhere to in our company, which did over $3,000,000 in profits in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My program consists of training as well as assistance. When you get begun with Painting Business Academy, you get accessibility to the entire company system and also all of the training that supports that system.

BENEFIT # 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 lots of questions asked daily from our members.
Our neighborhood is extremely involved and also energetic.
People in our community even share their successes. Just a few days ago somebody shared a Facebook advertising and marketing strategy, word for word, that's killing it for their service.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more money does not remove the worry of failure. With Painting Business Academy, you can obtain access to a strong organisation strategy, service training, and also all of the done-for-you types and systems that are shown to develop 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 earlier. While you do pay 1/10th of the price up front (on the luxury), you have NO aristocracies to pay after that.
The possibility of failing is the very same whether you remain in a franchise or running your very own business. When you buy a franchise, you are taking a bigger danger, suggesting there's a larger failure if you do fall short.

SO WHAT NOW?
Prior to you purchase a franchise business and toss hundreds of dollars down the bathroom for a tested system, you might desire to check out Painting Business Academy.
Painting Business Academy is also a proven system to construct a million-dollar paint business, with a neighborhood of thousands of others. Furthermore, there is no recurring royalty, and no geographical limitations to growth.
Get every one of the advantages of a Painting Business Franchise in West Albany NY for a fraction of the cost. Check the course out here and also call me if you have any concerns.
The paint business is a great service to be in! I wish you'll belong of it soon.
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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