Why Not To Buy A Painting Business Franchise in Floris VA

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Should You Buy a Painting Business Franchise in Floris VA ?

Don't Buy a Painting Business Franchise in Floris VA

• 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 Floris VA
• 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
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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 Floris VA

If you are thinking about purchasing a paint franchise business, stop today.
I'm mosting likely to break down the basic problems with getting a painting franchise, and also the alternate choices you have to start a painting company.

This is based on my experience expanding a successful painting business where we thought about becoming a franchise yet went with a partnership arrangement rather. I listen to the struggles of franchisee's continuously, as well as I feel for them.



Painting Business Franchise in Floris VA 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 Floris VA 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 Floris VA ?

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Is it better to start a painting business or buy a Painting Business Franchise in Floris VA ?

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BR> I don't want you to wind up in the same placement that numerous franchisees find themselves in.
There is a far better means! We will start with the troubles of a franchise business, then we'll enter into options.

ISSUE # 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 larger franchise business around.
These franchises range from $10,000-$ 40,000 in franchise costs just for the right to the franchise business in a restricted number of postal code where you can operate your franchise business.
They also take 6-9% as an recurring nobility ... permanently.
If you are in organisation for 10 years as well as you produce $5,000,000 in income, this franchise business winds up costing you upwards of $500,000. That's a steep price to pay.
And naturally you obtain some support and also service systems, but everything that a franchise offers can be acquired through various other opportunities for a lot less than $500,000.

PROBLEM # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you buy a Painting Business Franchise in Floris VA you are acquiring the civil liberties to that organisation in a established territory. You are assigned a small number of postal code where you have the rights to business.
This is a HUGE trouble. The most convenient means to expand as well as expand a paint business is by expanding geographically. Franchise business remove this right.
Painter Choice is our advertising company. We collaborate with franchisees all over the nation. I always really feel dreadful for these company owner due to the fact that they have such a tough time creating company.
A typical company in Atlanta, as an example, can use our lead service in North Atlanta to generate 20-30 leads each month.
A franchisee in North Atlanta who only owns the civil liberties to 7-8 zip codes can only generate 5-7 leads per month from our lead solution.
Simply put, if those franchisees had their own business, they could right away boost their business 3-5 times! In various other terms, that implies an increase from $500,000 to $2,000,000. This is a enormous constraint on your prospective service growth.
As a franchisee, your only alternative is to buy more territory, or such it up as well as keep your company small.
Yet if somebody else currently possesses the neighboring territory, you do not have that alternative.

TROUBLES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees as well as the franchisor have actually misaligned incentives. The franchisor wants to create as much income as feasible because they earn money a collection percent of profits.
However as business proprietor, your objective is to take full advantage of earnings.
I'm a big follower in lining up incentives, as well as in this case, incentives are not lined up. They are playing a different video game than you are. They want to maximize profits in all of their territories, as well as offer as many franchises as they can.

TROUBLE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're buying a work. Allow me show you why.
As a result of nobilities, your margins wind up being around 10% -12% besides overhead.
In order to make $100k/year you 'd have to have a $1,000,000 organisation.
You can not have a $1,000,000 company in the small territory. As well as also if you can, you're stuck at a optimum of $100,000 for yourself. You're paying $70k-$ 100k/year in aristocracies wherefore?
That's a ridiculous amount of money to pay your franchise ... the exact same company that has an contract that they hold over your head not permitting you to expand your company geographically.
They've got you by the balls.
Or, you can acquire another region to grow. Once more ... I 'd rather not have to pay for the right to grow my business. That's ridiculous.
A lot of franchises end up in the $500,000-$ 600,000 array. You can probably make $80,000-$ 110,000, sure. Yet you also do not ever before have sufficient margin to work with various other individuals to run the entire company, which is one of the best benefits to building a firm.
You probably aren't producing adequate profits to even work with really solid staff members. In our business, we pay about 5-6% to our production manager who looks after $1,000,000 in manufacturing. That's $50,000-$ 60,000 per year for the supervisor. Yet if you are just doing $500,000 a year in earnings, you can pay 5% ($ 25,000) to your production supervisor, which is insufficient cash for a strong employee.
Your alternatives are to pay a greater portion ( eliminating your profit margin), or do the job yourself ( eliminating your lifestyle). Both of which are not very appealing choices.
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IN SUMMARY:
You pay a great deal of cash to limit your growth, you don't reach build your very own thing, and if you want to grow geographically you need to pay for the civil liberties to do so ... thinking nobody else currently owns the legal rights to the region you are attempting to acquire.
As a result of your constraints, and also the high royalty cost, you are dramatically restricted in your ability to grow your revenue, develop a strong team, and also build a big service.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong business strategy
# 2-- They do it for the assistance and also training supplied 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 failing
Currently, allow's consider remedies. Just how can you get all the advantages without paying the steep rate of a franchise business?

ADVANTAGE # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the price of a franchise business, you can purchase my company system. This is the exact business system we use and also comply with in our business, which corrected $3,000,000 in income in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My program includes training and assistance. When you obtain begun with Painting Business Academy, you obtain accessibility to the entire organisation system as well as all of the training that accompanies that system.

BENEFIT # 3: THEY DO IT FOR THE COMMUNITY SO THEY AREN'T ALONE
When you sign up with Painting Business Academy, you also join our personal members-only Facebook team. We have lots of questions asked everyday from our participants.
Our area is highly involved and energetic.
Individuals in our community even share their successes. Just the various other day someone shared a Facebook advertising and marketing method, verbatim, that's killing it for their service.

BENEFIT # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more money does not remove the worry of failing. With Painting Business Academy, you can obtain accessibility to a solid organisation strategy, service training, and all of the done-for-you kinds as well as systems that are proven to develop a million-dollar paint business.
You likewise get access to the outstanding area of similar entrepreneurs doing the same thing as you that we spoke about earlier. While you do pay 1/10th of the cost in advance (on the high end), you have NO aristocracies to pay after that.
The possibility of failure is the exact same whether you remain in a franchise or running your own company. When you acquire a franchise, you are taking a larger risk, implying there's a bigger failure if you do fall short.

SO WHAT NOW?
Before you invest in a franchise as well as toss thousands of bucks down the toilet for a tested system, you might wish to take a look at Painting Business Academy.
Painting Business Academy is also a tested system to construct a million-dollar painting company, with a neighborhood of numerous others. Furthermore, there is no ongoing aristocracy, as well as no geographical restrictions to development.
Obtain every one of the benefits of a Painting Business Franchise in Floris VA for a fraction of the rate. Inspect the course out here and call me if you have any kind of concerns.
The paint business is a wonderful business to be in! I hope you'll be a component of it quickly.
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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