Why Not To Buy A Painting Business Franchise in Centerton AR

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

Should You Buy a Painting Business Franchise in Centerton AR ?

Don't Buy a Painting Business Franchise in Centerton AR

• 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 Centerton AR
• 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 Centerton AR

If you are considering getting a paint franchise, quit now.
I'm going to damage down the essential problems with acquiring a paint franchise, as well as the different choices you need to begin a painting company.

This is based on my experience growing a successful painting organisation where we considered coming to be a franchise yet selected a collaboration arrangement rather. I listen to the struggles of franchisee's constantly, and also I really feel for them.



Painting Business Franchise in Centerton AR 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 Centerton AR 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 Centerton AR ?

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Is it better to start a painting business or buy a Painting Business Franchise in Centerton AR ?

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BR> I do not desire you to wind up in the very same placement that numerous franchisees discover themselves in.
There is a better way! We will certainly begin with the problems of a franchise business, after that we'll get involved in remedies.

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 franchise business out there.
These franchises range from $10,000-$ 40,000 in franchise business charges simply for the right to the franchise in a minimal number of zip codes where you can run your franchise.
They additionally take 6-9% as an ongoing aristocracy ... permanently.
If you are in company for 10 years and you generate $5,000,000 in profits, this franchise winds up costing you upwards of $500,000. That's a steep price to pay.
And also naturally you get some support and also business systems, but every little thing that a franchise business supplies can be acquired with various other avenues for a lot less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you buy a Painting Business Franchise in Centerton AR you are acquiring the legal rights to that organisation in a set region. You are appointed a little number of postal code where you have the rights to business.
This is a HUGE trouble. The most convenient means to expand and broaden a painting organisation is by broadening geographically. Franchise business take away this.
Painter Choice is our advertising and marketing business. We deal with franchisees around the country. I always feel terrible for these company owner since they have such a tough time producing company.
A common firm in Atlanta, for instance, can use our lead solution in North Atlanta to produce 20-30 leads per month.
A franchisee in North Atlanta who just possesses the civil liberties to 7-8 zip codes can only generate 5-7 leads per month from our lead service.
To put it simply, if those franchisees had their very own company, they could right away boost their business 3-5 times! In various other terms, that indicates an boost from $500,000 to $2,000,000. This is a substantial limitation on your possible service development.
As a franchisee, your only alternative is to purchase more territory, or such it up and also maintain your organisation small.
If somebody else already has the nearby area, you do not have that option.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Essentially, franchisees and the franchisor have actually misaligned incentives. The franchisor intends to produce as much earnings as possible because they earn money a collection percent of revenue.
However as business proprietor, your objective is to optimize earnings.
I'm a large follower in straightening incentives, and in this instance, rewards are not straightened. They are playing a different video game than you are. They wish to maximize revenue in all of their areas, as well as sell as many franchise business as they can.

ISSUE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're buying a job. Let me show you why.
As a result of nobilities, your margins finish up being around 10% -12% besides organisation expenses.
In order to make $100k/year you would certainly have to have a $1,000,000 business.
You can't have a $1,000,000 service in the little area. As well as even if you can, you're stuck at a maximum of $100,000 for yourself. You're paying $70k-$ 100k/year in royalties of what?
That's a crazy amount of cash to pay your franchise business ... the exact same firm that has an contract that they hold over your head not allowing you to expand your organisation geographically.
They've got you by the spheres.
Or, you can acquire one more region to expand. But again ... I would certainly rather not have to spend for the right to expand my service. That's absurd.
A lot of franchise business wind up in the $500,000-$ 600,000 array. You can possibly make $80,000-$ 110,000, sure. You additionally don't ever have enough margin to hire other individuals to run the whole service, which is one of the greatest benefits to developing a firm.
You possibly aren't producing enough revenue to also work with truly solid workers. In our firm, we pay regarding 5-6% to our production manager that supervises $1,000,000 in manufacturing. That's $50,000-$ 60,000 per year for the manager. If you are only doing $500,000 a year in revenue, you can pay 5% ($ 25,000) to your manufacturing supervisor, which is not enough money for a strong employee.
Your alternatives are to pay a greater portion (killing your earnings margin), or get the job done yourself ( eliminating your way of living). Both of which are not extremely appealing choices.
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IN SUMMARY:
You pay a great deal of money to limit your growth, you don't obtain to construct your own thing, and also if you wish to expand geographically you need to spend for the rights to do so ... assuming no one else currently has the rights to the area you are attempting to buy.
Due to your constraints, as well as the high aristocracy charge, you are considerably restricted in your capacity to grow your income, develop a strong team, and also build a huge business.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong organisation strategy
# 2-- They do it for the support and also training provided 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 worry of failure
Currently, let's consider remedies. Just how can you obtain all the benefits without paying the high price of a franchise?

BENEFIT # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the price of a franchise, you can acquire my business system. This is the specific organisation system we make use of and also comply with in our business, which did over $3,000,000 in income in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My program includes training and support. When you obtain begun with Painting Business Academy, you obtain access to the entire company system and all of the training that accompanies 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 exclusive members-only Facebook team. We have loads of inquiries asked each day from our participants.
Our area is highly involved as well as active.
People in our neighborhood even share their successes. Simply recently somebody shared a Facebook marketing method, word for word, that's eliminating it for their service.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more cash does not remove the fear of failing. With Painting Business Academy, you can obtain accessibility to a strong organisation plan, business training, as well as all of the done-for-you types and also systems that are confirmed to construct a million-dollar paint business.
You additionally get accessibility to the fantastic neighborhood of similar business owners doing the very same point as you that we spoke about previously. While you do pay 1/10th of the price up front (on the high end), you have NO nobilities to pay afterwards.
The chance of failing is the exact same whether you are in a franchise or running your very own company. When you purchase a franchise business, you are taking a bigger risk, suggesting there's a larger failure if you do fail.

SO WHAT NOW?
Before you buy a franchise business and also throw thousands of dollars down the commode for a proven system, you might intend to look into Painting Business Academy.
Painting Business Academy is additionally a tried and tested system to construct a million-dollar painting business, with a neighborhood of numerous others. Furthermore, there is no ongoing nobility, as well as no geographical limitations to development.
Obtain all of the benefits of a Painting Business Franchise in Centerton AR for a portion of the price. Examine the course out here and contact me if you have any questions.
The painting business is a wonderful service 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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