Why Not To Buy A Painting Business Franchise in Sweetwater TX

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Should You Buy a Painting Business Franchise in Sweetwater TX ?

Don't Buy a Painting Business Franchise in Sweetwater TX

• 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 Sweetwater TX
• 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 Sweetwater TX

If you are considering acquiring a painting franchise business, quit now.
I'm mosting likely to break down the fundamental troubles with buying a painting franchise business, and the alternate options you have to start a painting firm.

This is based on my experience expanding a effective painting company where we considered becoming a franchise yet chose a collaboration setup rather. I listen to the struggles of franchisee's continuously, as well as I feel for them.



Painting Business Franchise in Sweetwater TX 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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Is a Painting Business Franchise in Sweetwater TX 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 Sweetwater TX ?

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Is it better to start a painting business or buy a Painting Business Franchise in Sweetwater TX ?

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BR> I do not want you to wind up in the same setting that numerous franchisees discover themselves in.
There is a better method! We will begin with the troubles of a franchise, then we'll get involved in options.

PROBLEM # 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 bigger franchise business around.
These franchise business range from $10,000-$ 40,000 in franchise costs just for the right to the franchise in a limited number of postal code where you can run your franchise.
They likewise take 6-9% as an continuous royalty ... for life.
If you are in business for 10 years and also you create $5,000,000 in income, this franchise winds up costing you upwards of $500,000. That's a steep cost to pay.
As well as of program you obtain some support as well as business systems, however every little thing that a franchise business gives can be acquired through various other methods for much less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you purchase a Painting Business Franchise in Sweetwater TX you are getting the civil liberties to that business in a set area. You are assigned a handful of zip codes where you have the civil liberties to the service.
This is a HUGE problem. The most convenient method to grow as well as broaden a painting company is by expanding geographically. Franchises take away this.
Painter Choice is our advertising firm. We collaborate with franchisees all over the nation. I always really feel horrible for these company owner since they have such a tough time generating company.
A regular company in Atlanta, for instance, can use our lead service in North Atlanta to create 20-30 leads each month.
A franchisee in North Atlanta who just has the legal rights to 7-8 zip codes can just produce 5-7 leads per month from our lead solution.
To put it simply, if those franchisees had their own company, they can right away increase their organisation 3-5 times! In other terms, that suggests an rise from $500,000 to $2,000,000. This is a enormous restriction on your possible business growth.
As a franchisee, your only option is to buy more region, or such it up as well as keep your organisation little.
However if another person already possesses the neighboring area, you don't have that alternative.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Fundamentally, franchisees and the franchisor have actually misaligned incentives. The franchisor wishes to generate as much earnings as feasible because they earn money a set percent of income.
But as the business owner, your goal is to make best use of earnings.
I'm a huge believer in lining up rewards, and also in this case, motivations are not aligned. They are playing a various game than you are. They wish to optimize profits in all of their regions, and also offer as several franchises as they can.

ISSUE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're buying a task. Let me show you why.
Due to aristocracies, your margins wind up being around 10% -12% nevertheless service costs.
In order to make $100k/year you 'd need to have a $1,000,000 business.
However you can't have a $1,000,000 organisation in the tiny territory. As well as even if you can, you're stuck at a optimum of $100,000 on your own. You're paying $70k-$ 100k/year in nobilities wherefore?
That's a ludicrous quantity of cash to pay your franchise business ... the same company that has an arrangement that they hold over your head not allowing you to expand your organisation geographically.
They've got you by the rounds.
Or, you can buy one more area to expand. But once again ... I would certainly rather not need to pay for the right to expand my company. That's absurd.
Most franchises wind up in the $500,000-$ 600,000 variety. You can most likely make $80,000-$ 110,000, sure. Yet you additionally don't ever have sufficient margin to hire other people to run the entire business, which is one of the best advantages to constructing a business.
You most likely aren't creating enough revenue to also work with really solid staff members. In our business, we pay concerning 5-6% to our manufacturing supervisor who looks after $1,000,000 in production. That's $50,000-$ 60,000 each year for the manager. However if you are only doing $500,000 a year in revenue, you can pay 5% ($ 25,000) to your production supervisor, which is inadequate cash for a solid staff member.
Your options are to pay a higher portion (killing your revenue margin), or do the job yourself ( eliminating your way of life). Both of which are not extremely eye-catching options.
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IN SUMMARY:
You pay a whole lot of money to restrict your development, you don't reach construct your own thing, and also if you desire to expand geographically you require to pay for the legal rights to do so ... presuming nobody else already possesses the rights to the territory you are shopping.
As a result of your restrictions, and also the high nobility charge, you are dramatically restricted in your capability to expand your profits, build a strong team, as well as construct a big company.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the strong company strategy
# 2-- They do it for the assistance and also training offered 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 failing
Now, let's take a look at services. How can you obtain 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 price of a franchise, you can buy my business system. This is the precise company system we utilize and follow in our business, which corrected $3,000,000 in earnings in 2016.

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

ADVANTAGE # 3: THEY DO IT FOR THE COMMUNITY SO THEY AREN'T ALONE
When you join Painting Business Academy, you also join our private members-only Facebook team. We have dozens of inquiries asked on a daily basis from our members.
Our neighborhood is highly engaged as well as active.
Individuals in our neighborhood even share their successes. Simply a few days ago somebody shared a Facebook advertising strategy, verbatim, that's killing it for their organisation.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more money does not get rid of the fear of failure. With Painting Business Academy, you can get accessibility to a strong organisation plan, service training, as well as all of the done-for-you types and also systems that are confirmed to develop a million-dollar paint company.
You also obtain access to the incredible neighborhood of like-minded entrepreneurs doing the same point as you that we discussed previously. While you do pay 1/10th of the cost up front (on the high end), you have NO royalties to pay afterwards.
The possibility of failure coincides whether you are in a franchise or running your very own service. When you purchase a franchise, you are taking a bigger threat, suggesting there's a bigger failure if you do stop working.

SO WHAT NOW?
Before you invest in a franchise business and also throw countless bucks down the commode for a tested system, you may intend to have a look at Painting Business Academy.
Painting Business Academy is additionally a tried and tested system to build a million-dollar paint business, with a neighborhood of hundreds of others. Additionally, there is no continuous aristocracy, and no geographical restrictions to growth.
Get all of the benefits of a Painting Business Franchise in Sweetwater TX for a fraction of the price. Examine the program out right here and contact me if you have any type of inquiries.
The paint business is a great service to be in! I hope you'll be a part of it quickly.
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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