Why Not To Buy A Painting Business Franchise in Lynbrook NY

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Should You Buy a Painting Business Franchise in Lynbrook NY ?

Don't Buy a Painting Business Franchise in Lynbrook 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 Lynbrook 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
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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 Lynbrook NY

If you are assuming of acquiring a paint franchise, quit today.
I'm going to break down the fundamental problems with purchasing a painting franchise business, as well as the alternative choices you have to start a paint firm.

This is based upon my experience growing a successful paint organisation where we thought about coming to be a franchise business but chose for a collaboration configuration instead. I listen to the battles of franchisee's frequently, as well as I really feel for them.



Painting Business Franchise in Lynbrook 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 Lynbrook 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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What are the disadvantages of a Painting Business Franchise in Lynbrook NY ?

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

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BR> I don't desire you to wind up in the same position that several franchisees locate themselves in.
There is a much better method! We will certainly begin with the issues of a franchise business, after that we'll enter options.

TROUBLE # 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 simply for the right to the franchise business in a restricted number of postal code where you can operate your franchise.
They additionally take 6-9% as an continuous nobility ... permanently.
If you are in company for 10 years as well as you create $5,000,000 in income, this franchise business winds up costing you upwards of $500,000. That's a steep cost to pay.
As well as naturally you obtain some support and business systems, but whatever that a franchise business offers can be gotten via other avenues for much less than $500,000.

PROBLEM # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you get a Painting Business Franchise in Lynbrook NY you are buying the legal rights to that organisation in a set region. You are designated a handful of postal code where you have the civil liberties to business.
This is a HUGE issue. The simplest means to expand and broaden a painting service is by increasing geographically. Franchises take away this right.
Painter Choice is our marketing company. We collaborate with franchisees throughout the nation. I always feel dreadful for these local business owner because they have such a tough time generating service.
A normal firm in Atlanta, for instance, can use our lead service in North Atlanta to generate 20-30 leads monthly.
A franchisee in North Atlanta that only has the civil liberties to 7-8 zip codes can only generate 5-7 leads per month from our lead service.
In various other words, if those franchisees had their own company, they can immediately increase their service 3-5 times! In other terms, that means an increase from $500,000 to $2,000,000. This is a large constraint on your possible service development.
As a franchisee, your only alternative is to purchase even more region, or such it up and keep your business tiny.
If someone else currently owns the close-by territory, you do not have that choice.

PROBLEMS # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Fundamentally, franchisees and also the franchisor have actually misaligned incentives. The franchisor intends to produce as much profits as possible because they get paid a collection percent of income.
However as the business proprietor, your objective is to take full advantage of revenue.
I'm a big believer in straightening rewards, as well as in this instance, incentives are not aligned. They are playing a different game than you are. They intend to optimize earnings in all of their territories, and sell as numerous franchise business as they can.

ISSUE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're acquiring a task. Let me show you why.
Due to aristocracies, your margins wind up being around 10% -12% nevertheless company expenses.
In order to make $100k/year you 'd have to have a $1,000,000 organisation.
However you can't have a $1,000,000 service in the small territory. And also even if you can, you're stuck at a maximum of $100,000 for yourself. You're paying $70k-$ 100k/year in aristocracies of what?
That's a crazy quantity of cash to pay your franchise business ... the exact same firm that has an arrangement that they hold over your head not allowing you to grow your company geographically.
They've got you by the rounds.
Or, you can purchase one more area to grow. Again ... I 'd rather not have to pay for the right to grow my service. That's unreasonable.
Most franchises wind up in the $500,000-$ 600,000 variety. You can most likely make $80,000-$ 110,000, sure. However you likewise don't ever have sufficient margin to employ other individuals to run the entire company, which is just one of the best advantages to constructing a firm.
You most likely aren't creating enough profits to also hire really solid workers. In our company, we pay concerning 5-6% to our production supervisor who manages $1,000,000 in production. That's $50,000-$ 60,000 each year for the supervisor. If you are just doing $500,000 a year in revenue, you can pay 5% ($ 25,000) to your manufacturing supervisor, which is not sufficient cash for a strong worker.
Your alternatives are to pay a higher portion (killing your revenue margin), or get the job done on your own (killing your lifestyle). Both of which are not really attractive choices.
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IN SUMMARY:
You pay a great deal of cash to limit your development, you don't reach develop your very own point, as well as if you want to grow geographically you require to spend for the legal rights to do so ... assuming no one else already has the civil liberties to the area you are trying to get.
As a result of your constraints, and the high nobility cost, you are dramatically limited in your capacity to grow your earnings, develop a solid group, and also develop a big business.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid company plan
# 2-- They do it for the support as well as training offered by the franchise business
# 3-- They do it for the community of other franchisees so they aren't alone
# 4-- They do it out of concern of failure
Currently, let's look at remedies. Exactly how can you get all the benefits without paying the high rate of a franchise?

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

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My program includes training and support. When you begin with Painting Business Academy, you obtain access to the whole business system and 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 also join our personal members-only Facebook group. We have loads of inquiries asked each day from our members.
Our neighborhood is very engaged and also active.
People in our neighborhood also share their successes. Simply the various other day a person shared a Facebook marketing technique, verbatim, that's eliminating it for their organisation.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more cash does not remove the worry of failure. With Painting Business Academy, you can get access to a strong business strategy, organisation training, and also all of the done-for-you forms and also systems that are shown to construct a million-dollar painting organisation.
You likewise obtain accessibility to the amazing community of similar business owners doing the exact same thing as you that we discussed previously. 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 failing is the very same whether you are in a franchise or running your own service. Nonetheless, when you acquire a franchise, you are taking a bigger danger, suggesting there's a bigger failing if you do stop working.

WHAT NOW?
Prior to you purchase a franchise and toss thousands of bucks down the toilet for a tested system, you could intend to take a look at Painting Business Academy.
Painting Business Academy is additionally a tried and tested system to develop a million-dollar paint business, with a community of hundreds of others. Furthermore, there is no recurring royalty, as well as no geographical limitations to development.
Obtain every one of the advantages of a Painting Business Franchise in Lynbrook NY for a fraction of the cost. Examine the training course out here and call me if you have any type of questions.
The paint business is a great service to be in! I wish you'll be a component of it soon.
Good 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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