Don't Buy A Painting Business Franchise in West Raleigh NC

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

Should You Buy a Painting Business Franchise in West Raleigh NC ?

Don't Buy a Painting Business Franchise in West Raleigh NC

• 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 Raleigh NC
• 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 Raleigh NC

If you are considering getting a paint franchise, quit today.
I'm going to break down the essential problems with getting a painting franchise, and the different choices you have to start a paint firm.

This is based on my experience expanding a successful painting company where we took into consideration becoming a franchise but decided for a partnership configuration rather. I listen to the struggles of franchisee's frequently, and I feel for them.



Painting Business Franchise in West Raleigh NC 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 Raleigh NC 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 Raleigh NC ?

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

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

PROBLEM # 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 franchise business out there.
These franchise business range from $10,000-$ 40,000 in franchise charges just for the right to the franchise in a restricted variety of postal code where you can run your franchise business.
They also take 6-9% as an ongoing nobility ... permanently.
If you are in business for 10 years as well as you generate $5,000,000 in income, this franchise business winds up costing you upwards of $500,000. That's a high price to pay.
And certainly you obtain some support and also organisation systems, but everything that a franchise gives can be obtained through various other opportunities for a lot less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you acquire a Painting Business Franchise in West Raleigh NC you are purchasing the civil liberties to that company in a set area. You are assigned a little number of zip codes where you have the rights to business.
This is a HUGE problem. The easiest way to expand as well as broaden a painting organisation is by broadening geographically. Franchise business take away this right.
Painter Choice is our marketing firm. We work with franchisees around the nation. I constantly really feel dreadful for these entrepreneur since they have such a tough time generating business.
A common firm in Atlanta, for instance, can use our lead service in North Atlanta to create 20-30 leads each month.
However a franchisee in North Atlanta who just possesses the rights to 7-8 postal code can just produce 5-7 leads monthly from our lead service.
In other words, if those franchisees had their own business, they could immediately raise their business 3-5 times! In various other terms, that suggests an increase from $500,000 to $2,000,000. This is a enormous limitation on your potential service growth.
As a franchisee, your only option is to buy even more territory, or such it up and also keep your organisation little.
If somebody else currently possesses the nearby area, you don't have that alternative.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Essentially, franchisees as well as the franchisor have actually misaligned incentives. The franchisor wishes to generate as much income as feasible since they make money a set percent of earnings.
As the service proprietor, your goal is to optimize revenue.
I'm a large believer in straightening motivations, and in this situation, incentives are not straightened. They are playing a different game than you are. They wish to make the most of profits in all of their regions, as well as market as lots of franchises as they can.

TROUBLE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're buying a task. Allow me show you why.
As a result of nobilities, your margins wind up being around 10% -12% nevertheless organisation costs.
In order to make $100k/year you 'd need to have a $1,000,000 business.
You can not have a $1,000,000 company in the tiny area. And also also if you can, you're stuck at a maximum of $100,000 on your own. You're paying $70k-$ 100k/year in nobilities of what?
That's a ludicrous quantity of money to pay your franchise ... the same business that has an agreement that they hold over your head not enabling you to grow your organisation geographically.
They've obtained you by the balls.
Or, you can acquire one more region to expand. Once more ... I 'd rather not have to pay for the right to expand my organisation. That's unreasonable.
Many franchise business finish up in the $500,000-$ 600,000 range. You can probably make $80,000-$ 110,000, sure. But you also don't ever have sufficient margin to work with various other individuals to run the entire company, which is one of the best benefits to constructing a company.
You possibly aren't creating enough income to even employ truly strong workers. In our firm, we pay regarding 5-6% to our manufacturing manager who looks after $1,000,000 in production. That's $50,000-$ 60,000 per year for the manager. However if you are only doing $500,000 a year in earnings, you can pay 5% ($ 25,000) to your production supervisor, which is not nearly enough money for a solid staff member.
Your alternatives are to pay a higher percent ( eliminating your earnings margin), or do the work on your own (killing your lifestyle). Both of which are not extremely appealing choices.
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IN SUMMARY:
You pay a great deal of money to restrict your development, you don't obtain to construct your own point, and if you intend to expand geographically you require to pay for the rights to do so ... presuming no one else currently possesses the civil liberties to the area you are attempting to get.
As a result of your constraints, and the high nobility cost, you are dramatically limited in your capability to expand your income, construct a solid team, as well as construct a large business.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong service strategy
# 2-- They do it for the support and also training given 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 concern of failure
Now, let's look at remedies. Exactly how can you get all the benefits without paying the steep cost of a franchise business?

ADVANTAGE # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the cost of a franchise, you can buy my service system. This is the specific business system we use as well as comply with in our service, which corrected $3,000,000 in income in 2016.

BENEFIT # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My program consists of training as well as support. When you begin with Painting Business Academy, you obtain access to the whole company system and all of the training that accompanies that system.

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

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more cash does not remove the concern of failure. With Painting Business Academy, you can get access to a strong business strategy, business training, as well as all of the done-for-you types and systems that are proven to construct a million-dollar paint company.
You likewise get access to the impressive community of similar entrepreneurs doing the 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 nobilities to pay afterwards.
The possibility of failing coincides whether you remain in a franchise business or running your own organisation. However, when you buy a franchise business, you are taking a larger danger, meaning there's a bigger failure if you do stop working.

WHAT NOW?
Before you spend in a franchise as well as toss countless bucks down the commode for a tested system, you may wish to take a look at Painting Business Academy.
Painting Business Academy is also a tested system to develop a million-dollar painting company, with a area of numerous others. On top of that, there is no continuous royalty, and also no geographical constraints to growth.
Obtain all of the benefits of a Painting Business Franchise in West Raleigh NC for a portion of the rate. Examine the program out below and call me if you have any kind of concerns.
The painting business is a wonderful business to be in! I hope you'll be a part 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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