Why Not To Buy A Painting Business Franchise in Gray LA

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

Should You Buy a Painting Business Franchise in Gray LA ?

Don't Buy a Painting Business Franchise in Gray LA

• 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 Gray LA
• 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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• 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 Gray LA

If you are considering buying a painting franchise, stop now.
I'm mosting likely to damage down the basic problems with getting a paint franchise business, and the different choices you have to begin a painting company.

This is based on my experience expanding a effective painting business where we took into consideration ending up being a franchise business however chose a partnership configuration instead. I hear the battles of franchisee's regularly, and also I feel for them.



Painting Business Franchise in Gray LA 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 Gray LA 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 Gray LA ?

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Is it better to start a painting business or buy a Painting Business Franchise in Gray LA ?

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BR> I don't want you to finish up in the very same placement that several franchisees discover themselves in.
There is a far better method! We will start with the issues of a franchise, 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 out there.
These franchise business range from $10,000-$ 40,000 in franchise fees simply for the right to the franchise in a limited variety of postal code where you can run your franchise.
They additionally take 6-9% as an ongoing nobility ... forever.
If you are in service for 10 years and also you generate $5,000,000 in revenue, this franchise business ends up costing you upwards of $500,000. That's a steep cost to pay.
And of program you obtain some support and also business systems, but everything that a franchise business supplies can be obtained through various other avenues for much less than $500,000.

PROBLEM # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you acquire a Painting Business Franchise in Gray LA you are acquiring the civil liberties to that service in a set territory. You are assigned a small number of zip codes where you have the civil liberties to the service.
This is a HUGE trouble. The most convenient method to grow as well as expand a paint company is by broadening geographically. Franchise business take away this.
Painter Choice is our marketing business. We collaborate with franchisees all over the nation. I constantly really feel terrible for these local business owner since they have such a difficult time producing company.
A normal firm in Atlanta, for example, can use our lead solution in North Atlanta to produce 20-30 leads monthly.
A franchisee in North Atlanta who only has the civil liberties to 7-8 zip codes can just produce 5-7 leads per month from our lead service.
In other words, if those franchisees had their very own company, they can instantly boost their business 3-5 times! In other terms, that indicates an boost from $500,000 to $2,000,000. This is a massive constraint on your possible company development.
As a franchisee, your only option is to buy even more region, or such it up as well as keep your service tiny.
Yet if another person currently has the close-by area, you don't have that choice.

TROUBLES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Fundamentally, franchisees as well as the franchisor have misaligned motivations. The franchisor wishes to create as much income as feasible since they earn money a collection percent of revenue.
As the organisation proprietor, your objective is to take full advantage of earnings.
I'm a big follower in lining up incentives, as well as in this instance, rewards are not lined up. They are playing a various game than you are. They desire to optimize profits in all of their areas, and also sell as numerous franchise business as they can.

ISSUE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're purchasing a work. Allow me show you why.
Due to aristocracies, your margins end up being around 10% -12% nevertheless business expenses.
In order to make $100k/year you would certainly have to have a $1,000,000 service.
You can't have a $1,000,000 business in the tiny region. 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 nobilities for what?
That's a ridiculous amount of money to pay your franchise ... the same business that has an agreement that they hold over your head not allowing you to grow your service geographically.
They've got you by the spheres.
Or, you can buy one more region to expand. Again ... I would certainly rather not have to pay for the right to expand my company. That's ridiculous.
Many franchise business end up in the $500,000-$ 600,000 range. You can probably make $80,000-$ 110,000, sure. You likewise do not ever have adequate margin to hire other individuals to run the whole organisation, which is one of the best advantages to constructing a firm.
You probably aren't producing sufficient income to also employ actually strong employees. In our company, we pay concerning 5-6% to our manufacturing manager that looks after $1,000,000 in manufacturing. That's $50,000-$ 60,000 each year for the supervisor. If you are only doing $500,000 a year in revenue, you can pay 5% ($ 25,000) to your manufacturing manager, which is not sufficient money for a strong employee.
Your options are to pay a greater portion ( eliminating your revenue margin), or get the job done on your own ( eliminating your way of life). Both of which are not really attractive choices.
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IN SUMMARY:
You pay a lot of cash to restrict your growth, you do not reach build your own point, and also if you intend to grow geographically you need to spend for the civil liberties to do so ... presuming no one else currently possesses the civil liberties to the territory you are trying to acquire.
Due to your restrictions, and the high royalty fee, you are dramatically restricted in your ability to expand your revenue, construct a strong team, as well as build a large organisation.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid service plan
# 2-- They do it for the assistance as well as training given by the franchise
# 3-- They do it for the community of other franchisees so they aren't alone
# 4-- They do it out of fear of failing
Now, let's take a look at remedies. How can you get all the advantages without paying the steep price of a franchise business?

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

BENEFIT # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My program consists of training and also support. When you start with Painting Business Academy, you obtain accessibility to the whole service system and also all of the training that supports that system.

BENEFIT # 3: THEY DO IT FOR THE COMMUNITY SO THEY AREN'T ALONE
When you sign up with Painting Business Academy, you likewise join our personal members-only Facebook team. We have lots of concerns asked on a daily basis from our members.
Our area is highly engaged as well as active.
Individuals in our neighborhood also share their successes. Simply the various other day somebody shared a Facebook marketing technique, verbatim, that's killing it for their company.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more cash does not get rid of the anxiety of failure. With Painting Business Academy, you can get access to a solid business plan, organisation training, as well as all of the done-for-you forms and also systems that are confirmed to develop a million-dollar paint business.
You additionally obtain access to the remarkable community of similar business owners doing the exact same thing as you that we talked about previously. While you do pay 1/10th of the expense in advance (on the high end), you have NO aristocracies to pay afterwards.
The probability of failing coincides whether you remain in a franchise or running your very own service. Nevertheless, when you buy a franchise business, you are taking a larger threat, suggesting there's a bigger failure if you do fall short.

WHAT NOW?
Prior to you buy a franchise business as well as throw countless bucks down the commode for a tried and tested system, you may want to have a look at Painting Business Academy.
Painting Business Academy is likewise a tested system to develop a million-dollar painting company, with a community of hundreds of others. In addition, there is no continuous aristocracy, and no geographical restrictions to development.
Get all of the benefits of a Painting Business Franchise in Gray LA for a portion of the rate. Inspect the program out right here and also call me if you have any kind of inquiries.
The painting business is a wonderful company 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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