Don't Buy A Painting Business Franchise in West Covina CA

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Should You Buy a Painting Business Franchise in West Covina CA ?

Don't Buy a Painting Business Franchise in West Covina 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 West Covina 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 West Covina CA

If you are considering purchasing a painting franchise, quit right now.
I'm going to break down the essential troubles with buying a painting franchise, as well as the alternative options you need to begin a paint firm.

This is based upon my experience growing a effective painting service where we thought about coming to be a franchise business but decided for a partnership arrangement rather. I listen to the battles of franchisee's constantly, and also I feel for them.



Painting Business Franchise in West Covina 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 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 Covina 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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What are the disadvantages of a Painting Business Franchise in West Covina CA ?

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

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BR> I don't desire you to finish up in the same placement that several franchisees find themselves in.
There is a much better means! We will certainly start with the troubles of a franchise business, then we'll get involved in options.

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 franchise business around.
These franchises range from $10,000-$ 40,000 in franchise business charges simply for the right to the franchise business in a limited variety of postal code where you can operate your franchise.
They also take 6-9% as an recurring royalty ... forever.
If you stay in business for 10 years and also you create $5,000,000 in income, this franchise winds up costing you upwards of $500,000. That's a steep cost to pay.
And obviously you get some support as well as service systems, however every little thing that a franchise 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 West Covina CA you are purchasing the civil liberties to that service in a established territory. You are designated a little number of zip codes where you have the rights to the business.
This is a HUGE problem. The easiest method to grow and also expand a painting business is by broadening geographically. Franchises eliminate this right.
Painter Choice is our advertising and marketing company. We deal with franchisees around the country. I constantly really feel horrible for these local business owner because they have such a tough time creating service.
A normal company in Atlanta, as an example, can utilize our lead service in North Atlanta to generate 20-30 leads each month.
A franchisee in North Atlanta who only owns the rights to 7-8 zip codes can just generate 5-7 leads per month from our lead solution.
In other words, if those franchisees had their very own service, they might immediately raise their organisation 3-5 times! In other terms, that means an rise from $500,000 to $2,000,000. This is a massive restriction on your potential organisation development.
As a franchisee, your only choice is to acquire even more territory, or such it up and also maintain your service little.
If someone else currently owns the neighboring territory, you don't have that alternative.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Fundamentally, franchisees as well as the franchisor have misaligned rewards. The franchisor wants to generate as much profits as possible because they earn money a set percent of earnings.
However as business owner, your goal is to take full advantage of revenue.
I'm a large believer in straightening rewards, and in this instance, incentives are not aligned. They are playing a various game than you are. They wish to optimize revenue in all of their areas, as well as offer as several franchises as they can.

ISSUE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're buying a job. Allow me show you why.
Because of royalties, your margins wind up being around 10% -12% besides business costs.
In order to make $100k/year you 'd have to have a $1,000,000 organisation.
However you can not have a $1,000,000 company in the small area. And also even if you can, you're stuck at a optimum of $100,000 for on your own. You're paying $70k-$ 100k/year in nobilities wherefore?
That's a ridiculous amount of money to pay your franchise ... the exact same company that has an agreement that they hold over your head not permitting you to expand your organisation geographically.
They've got you by the spheres.
Or, you can purchase an additional area to expand. But again ... I would certainly instead not need to pay for the right to expand my service. That's ridiculous.
Most franchises end up in the $500,000-$ 600,000 array. You can probably make $80,000-$ 110,000, sure. You additionally do not ever before have sufficient margin to work with other individuals to run the entire company, which is one of the greatest benefits to developing a business.
You most likely aren't producing enough revenue to also employ actually solid workers. In our company, we pay about 5-6% to our manufacturing manager that looks after $1,000,000 in manufacturing. 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 manager, which is not adequate money for a strong employee.
Your options are to pay a higher percent ( eliminating your earnings margin), or do the work on your own (killing your way of living). Both of which are not very eye-catching options.
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IN SUMMARY:
You pay a great deal of money to limit your development, you don't reach build your very own point, and if you want to expand geographically you need to spend for the civil liberties to do so ... assuming no one else currently has the civil liberties to the area you are shopping.
As a result of your constraints, as well as the high aristocracy cost, you are significantly limited in your capacity to grow your income, build a solid team, as well as construct a big business.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong business strategy
# 2-- They do it for the support as well as training provided by the franchise business
# 3-- They do it for the area of various other franchisees so they aren't alone
# 4-- They do it out of worry of failing
Now, let's look at options. Just how can you get all the advantages without paying the high rate 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 precise organisation system we make use of as well as comply with in our company, which did over $3,000,000 in income in 2016.

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

BENEFIT # 3: THEY DO IT FOR THE COMMUNITY SO THEY AREN'T ALONE
When you sign up with Painting Business Academy, you additionally join our personal members-only Facebook group. We have loads of concerns asked every day from our members.
Our area is highly engaged and active.
Individuals in our neighborhood even share their successes. Just the other day someone shared a Facebook advertising and marketing approach, word for word, that's killing it for their service.

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 access to a strong organisation strategy, business training, as well as all of the done-for-you types as well as systems that are confirmed to develop a million-dollar paint service.
You likewise obtain access to the impressive neighborhood of similar business owners doing the very same thing as you that we spoke around previously. While you do pay 1/10th of the price in advance (on the luxury), you have NO aristocracies to pay after that.
The chance of failing coincides whether you remain in a franchise business or running your very own service. When you purchase a franchise business, you are taking a larger threat, indicating there's a larger failure if you do fail.

SO WHAT NOW?
Before you invest in a franchise business and throw hundreds of dollars down the commode for a proven system, you might intend to have a look at 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 aristocracy, as well as no geographical restrictions to growth.
Get all of the benefits of a Painting Business Franchise in West Covina CA for a fraction of the cost. Check the program out right here and also call me if you have any questions.
The painting business is a great company to be in! I hope you'll be a component of it quickly.
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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