Don't Buy A Painting Business Franchise in Yonkers NY

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Should You Buy a Painting Business Franchise in Yonkers NY ?

Don't Buy a Painting Business Franchise in Yonkers 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 Yonkers 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
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• About
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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 Yonkers NY

If you are assuming of acquiring a painting franchise, stop today.
I'm going to damage down the basic troubles with purchasing a painting franchise, as well as the different options you have to begin a paint company.

This is based upon my experience expanding a successful painting business where we thought about coming to be a franchise business however went with a collaboration arrangement rather. I listen to the battles of franchisee's frequently, as well as I really feel for them.



Painting Business Franchise in Yonkers 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 Yonkers 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 Yonkers NY ?

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

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BR> I do not desire you to wind up in the exact same placement that lots of franchisees discover themselves in.
There is a much better way! We will certainly begin with the troubles of a franchise, then we'll enter into solutions.

ISSUE # 1: THE REAL COST OF A PAINTING FRANCHISE
CertaPro Painters, Five Star Painting, 360 Painting, and also WOW-1-Day Painting are a few of the larger franchises out there.
These franchise business range from $10,000-$ 40,000 in franchise charges just for the right to the franchise business in a restricted variety of postal code where you can run your franchise.
They likewise take 6-9% as an recurring nobility ... permanently.
If you stay in business for 10 years and you generate $5,000,000 in income, this franchise business ends up costing you upwards of $500,000. That's a steep rate to pay.
And naturally you obtain some assistance and also business systems, however whatever that a franchise business provides can be acquired via other opportunities for much less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you acquire a Painting Business Franchise in Yonkers NY you are buying the civil liberties to that organisation in a set territory. You are assigned a handful of postal code where you have the civil liberties to the company.
This is a HUGE trouble. The easiest means to expand and also broaden a paint business is by increasing geographically. Franchise business remove this right.
Painter Choice is our advertising and marketing company. We deal with franchisees throughout the country. I always really feel terrible for these company owner since they have such a tough time producing service.
A common company in Atlanta, for example, can use our lead solution in North Atlanta to produce 20-30 leads monthly.
But a franchisee in North Atlanta who only owns the legal rights to 7-8 zip codes can just create 5-7 leads per month from our lead service.
In other words, if those franchisees had their own service, they can promptly boost their organisation 3-5 times! In various other terms, that indicates an increase from $500,000 to $2,000,000. This is a massive limitation on your possible organisation growth.
As a franchisee, your only alternative is to purchase even more region, or such it up and maintain your service little.
If a person else already has the neighboring territory, you don't have that option.

TROUBLES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Fundamentally, franchisees and also the franchisor have actually misaligned motivations. The franchisor intends to create as much earnings as possible because they get paid a collection percent of revenue.
However as business proprietor, your objective is to optimize profit.
I'm a large follower in lining up motivations, as well as in this situation, incentives are not aligned. They are playing a different game than you are. They desire to take full advantage of profits in all of their regions, as well as offer as several franchise business as they can.

PROBLEM # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're acquiring a task. Let me reveal you why.
As a result of nobilities, your margins end up being around 10% -12% besides organisation costs.
In order to make $100k/year you would certainly have to have a $1,000,000 business.
You can not have a $1,000,000 organisation in the little area. And also if you can, you're stuck at a maximum of $100,000 for on your own. You're paying $70k-$ 100k/year in aristocracies for what?
That's a ludicrous amount of cash to pay your franchise business ... the same firm that has an arrangement that they hold over your head not allowing you to expand your organisation geographically.
They've obtained you by the spheres.
Or, you can buy another territory to expand. But again ... I would certainly rather not have to spend for the right to expand my organisation. That's silly.
Most franchise business wind up in the $500,000-$ 600,000 variety. You can possibly make $80,000-$ 110,000, sure. You also don't ever have sufficient margin to employ various other people to run the entire organisation, which is one of the greatest advantages to developing a business.
You most likely aren't producing sufficient revenue to also hire really strong employees. In our firm, we pay concerning 5-6% to our manufacturing supervisor that oversees $1,000,000 in production. That's $50,000-$ 60,000 each year for the supervisor. But if you are just doing $500,000 a year in profits, you can pay 5% ($ 25,000) to your production supervisor, which is not sufficient money for a strong employee.
Your alternatives are to pay a higher percent (killing your earnings margin), or get the job done yourself ( eliminating your way of life). Both of which are not extremely attractive choices.
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IN SUMMARY:
You pay a great deal of cash to restrict your growth, you do not get to build your very own thing, as well as if you intend to expand geographically you need to pay for the civil liberties to do so ... thinking no one else currently owns the rights to the territory you are trying to purchase.
As a result of your constraints, as well as the high nobility charge, you are substantially limited in your capability to grow your profits, develop a strong group, and build a huge business.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid business plan
# 2-- They do it for the assistance as well as training supplied by the franchise
# 3-- They do it for the area of various other franchisees so they aren't alone
# 4-- They do it out of anxiety of failure
Now, let's consider solutions. How can you get all the advantages without paying the steep price of a franchise?

ADVANTAGE # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the cost of a franchise, you can buy my company system. This is the exact business system we utilize and adhere to in our company, which corrected $3,000,000 in earnings in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My program includes training as well as assistance. When you start with Painting Business Academy, you obtain access to the whole business system as well as all of the training that supports that system.

ADVANTAGE # 3: THEY DO IT FOR THE COMMUNITY SO THEY AREN'T ALONE
When you join Painting Business Academy, you also join our private members-only Facebook group. We have dozens of concerns asked each day from our participants.
Our area is highly engaged and active.
People in our area also share their successes. Just a few days ago someone shared a Facebook marketing method, verbatim, that's killing it for their service.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more money does not eliminate the fear of failing. With Painting Business Academy, you can obtain accessibility to a solid organisation plan, service training, and also all of the done-for-you types and systems that are shown to build a million-dollar painting organisation.
You additionally get access to the outstanding area of like-minded entrepreneurs doing the same thing as you that we chatted about earlier. While you do pay 1/10th of the expense up front (on the luxury), you have NO nobilities to pay afterwards.
The probability of failure is the very same whether you are in a franchise or running your very own service. When you acquire a franchise, you are taking a larger risk, indicating there's a larger failing if you do fail.

WHAT NOW?
Before you purchase a franchise business and toss hundreds of bucks down the bathroom for a tried and tested system, you might want to take a look at Painting Business Academy.
Painting Business Academy is also a proven system to construct a million-dollar painting company, with a community of numerous others. Furthermore, there is no recurring royalty, and no geographical limitations to development.
Obtain every one of the benefits of a Painting Business Franchise in Yonkers NY for a portion of the price. Check the training course out right here and call me if you have any type of questions.
The painting business is a excellent 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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