Why Not To Buy A Painting Business Franchise in Cheviot OH

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

Should You Buy a Painting Business Franchise in Cheviot OH ?

Don't Buy a Painting Business Franchise in Cheviot OH

• 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 Cheviot OH
• 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 Cheviot OH

If you are thinking about purchasing a painting franchise, stop now.
I'm mosting likely to break down the basic issues with purchasing a painting franchise, as well as the alternative options you need to start a painting company.

This is based upon my experience growing a effective painting organisation where we considered coming to be a franchise however went with a collaboration setup instead. I listen to the battles of franchisee's frequently, and I really feel for them.



Painting Business Franchise in Cheviot OH 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 Cheviot OH 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 Cheviot OH ?

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Is it better to start a painting business or buy a Painting Business Franchise in Cheviot OH ?

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BR> I don't want you to end up in the exact same placement that lots of franchisees find themselves in.
There is a much better method! We will certainly start with the problems of a franchise, after that we'll get involved in solutions.

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 franchises out there.
These franchises range from $10,000-$ 40,000 in franchise business fees simply for the right to the franchise in a restricted variety of zip codes where you can run your franchise business.
They likewise take 6-9% as an recurring royalty ... permanently.
If you are in business for 10 years and also you produce $5,000,000 in profits, this franchise ends up costing you upwards of $500,000. That's a high cost to pay.
As well as certainly you get some support and company systems, however everything that a franchise business offers can be gotten via other avenues 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 Cheviot OH you are purchasing the rights to that company in a established territory. You are assigned a tiny number of postal code where you have the civil liberties to the organisation.
This is a HUGE trouble. The most convenient way to expand and also broaden a paint organisation is by increasing geographically. Franchises take away this right.
Painter Choice is our advertising company. We function with franchisees all over the country. I constantly really feel awful for these entrepreneur since they have such a tough time creating service.
A common business in Atlanta, for instance, can use our lead solution in North Atlanta to generate 20-30 leads monthly.
A franchisee in North Atlanta that only has the rights to 7-8 zip codes can only create 5-7 leads per month from our lead solution.
In other words, if those franchisees had their own organisation, they can quickly enhance their business 3-5 times! In other terms, that suggests an boost from $500,000 to $2,000,000. This is a substantial constraint on your possible service growth.
As a franchisee, your only option is to purchase more area, or such it up and also maintain your organisation small.
If somebody else currently owns the neighboring area, you do not have that alternative.

TROUBLES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Essentially, franchisees as well as the franchisor have misaligned motivations. The franchisor wishes to generate as much profits as feasible because they make money a set percent of revenue.
As the organisation owner, your goal is to make the most of revenue.
I'm a huge believer in straightening rewards, and also in this instance, motivations are not straightened. They are playing a various video game than you are. They wish to maximize revenue in all of their areas, and sell as many franchises as they can.

PROBLEM # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're buying a job. Let me reveal you why.
Due to aristocracies, your margins finish up being around 10% -12% nevertheless overhead.
In order to make $100k/year you would certainly have to have a $1,000,000 business.
However you can not have a $1,000,000 organisation in the little region. And also 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 crazy quantity of cash to pay your franchise ... the same firm that has an contract that they hold over your head not permitting you to grow your organisation geographically.
They've got you by the balls.
Or, you can buy another region to grow. Again ... I would certainly instead not have to pay for the right to grow my company. That's unreasonable.
A lot of franchises wind up in the $500,000-$ 600,000 range. You can probably make $80,000-$ 110,000, sure. But you likewise don't ever have enough margin to employ other people to run the entire business, which is just one of the best benefits to developing a company.
You most likely aren't producing sufficient revenue to also employ actually strong staff members. In our company, we pay concerning 5-6% to our production manager who supervises $1,000,000 in manufacturing. That's $50,000-$ 60,000 each year for the supervisor. Yet if you are just doing $500,000 a year in revenue, you can pay 5% ($ 25,000) to your manufacturing manager, which is inadequate cash for a strong worker.
Your options are to pay a higher percent ( eliminating your revenue margin), or get the job done yourself (killing your lifestyle). Both of which are not very eye-catching choices.
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IN SUMMARY:
You pay a great deal of money to restrict your development, you don't obtain to develop your very own point, as well as if you want to grow geographically you require to pay for the legal rights to do so ... thinking no one else currently owns the rights to the area you are shopping.
As a result of your limitations, as well as the high royalty charge, you are dramatically limited in your capability to expand your revenue, develop a solid team, and also build a huge company.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid company plan
# 2-- They do it for the assistance and also training given by the franchise
# 3-- They do it for the community of various other franchisees so they aren't alone
# 4-- They do it out of worry of failure
Now, let's look at remedies. Just how can you get all the advantages without paying the high price of a franchise business?

BENEFIT # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the expense of a franchise, you can purchase my service system. This is the specific service system we make use of and comply with in our company, which corrected $3,000,000 in revenue in 2016.

BENEFIT # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My course includes training and assistance. When you start with Painting Business Academy, you get accessibility to the whole organisation 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 personal members-only Facebook team. We have dozens of concerns asked daily from our members.
Our community is highly involved and active.
Individuals in our area also share their successes. Just a few days ago somebody shared a Facebook advertising method, verbatim, that's killing it for their organisation.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more cash does not get rid of the fear of failing. With Painting Business Academy, you can get access to a solid company plan, business training, and also all of the done-for-you kinds and also systems that are proven to develop a million-dollar painting business.
You likewise get access to the outstanding neighborhood of like-minded business owners doing the very same point as you that we spoke about earlier. While you do pay 1/10th of the expense up front (on the high end), you have NO aristocracies to pay afterwards.
The likelihood of failure coincides whether you remain in a franchise or running your very own organisation. However, when you purchase a franchise business, you are taking a bigger danger, meaning there's a larger failure if you do stop working.

WHAT NOW?
Prior to you invest in a franchise as well as throw hundreds of bucks down the commode for a tested system, you could intend to take a look at Painting Business Academy.
Painting Business Academy is additionally a tested system to build a million-dollar painting company, with a area of numerous others. Additionally, there is no ongoing aristocracy, as well as no geographical restrictions to development.
Get all of the benefits of a Painting Business Franchise in Cheviot OH for a portion of the rate. Examine the training course out right here and also contact me if you have any kind of questions.
The painting business is a fantastic service to be in! I wish you'll be a component of it quickly.
Good 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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