Why Not To Buy A Painting Business Franchise in Tuskegee AL

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Should You Buy a Painting Business Franchise in Tuskegee AL ?

Don't Buy a Painting Business Franchise in Tuskegee AL

• 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 Tuskegee AL
• 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
• Support
• 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 Tuskegee AL

If you are thinking of acquiring a paint franchise business, quit right now.
I'm mosting likely to damage down the essential troubles with acquiring a paint franchise business, and the different options you have to start a painting company.

This is based upon my experience growing a effective painting organisation where we thought about coming to be a franchise but chose for a partnership setup instead. I listen to the struggles of franchisee's continuously, and I feel for them.



Painting Business Franchise in Tuskegee AL 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 Tuskegee AL a good investment?

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Is it hard to start a painting business?

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What are the disadvantages of a Painting Business Franchise in Tuskegee AL ?

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Is it better to start a painting business or buy a Painting Business Franchise in Tuskegee AL ?

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BR> I do not desire you to wind up in the same placement that numerous franchisees locate themselves in.
There is a far better means! We will begin with the issues of a franchise, then we'll get into solutions.

PROBLEM # 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 larger franchise business available.
These franchises range from $10,000-$ 40,000 in franchise costs simply for the right to the franchise in a restricted number of zip codes where you can operate your franchise business.
They likewise take 6-9% as an ongoing royalty ... forever.
If you are in business for 10 years and also you generate $5,000,000 in income, this franchise finishes up costing you upwards of $500,000. That's a high price to pay.
And certainly you obtain some support and company systems, but whatever that a franchise provides can be acquired via other avenues for a lot less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you acquire a Painting Business Franchise in Tuskegee AL you are acquiring the legal rights to that organisation in a set area. You are designated a handful of zip codes where you have the legal rights to the service.
This is a HUGE trouble. The most convenient method to expand and expand a painting organisation is by expanding geographically. Franchises take away this.
Painter Choice is our advertising company. We collaborate with franchisees throughout the country. I always feel awful for these organisation owners because they have such a difficult time generating service.
A normal company in Atlanta, for example, can utilize our lead service in North Atlanta to produce 20-30 leads each month.
But a franchisee in North Atlanta who only owns the legal rights to 7-8 zip codes can just create 5-7 leads each month from our lead solution.
To put it simply, if those franchisees had their own company, they could quickly boost their service 3-5 times! In other terms, that means an increase from $500,000 to $2,000,000. This is a enormous limitation on your prospective organisation growth.
As a franchisee, your only option is to purchase more area, or such it up and also maintain your service tiny.
If someone else currently possesses the nearby area, you don't have that alternative.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Basically, franchisees and the franchisor have actually misaligned motivations. The franchisor wishes to create as much revenue as feasible due to the fact that they obtain paid a set percent of revenue.
As the service owner, your objective is to optimize profit.
I'm a big follower in aligning incentives, as well as in this situation, motivations are not lined up. They are playing a various video game than you are. They intend to maximize income in all of their territories, and also sell as numerous franchises as they can.

PROBLEM # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're purchasing a job. Let me reveal you why.
Due to royalties, your margins wind up being around 10% -12% nevertheless organisation costs.
In order to make $100k/year you 'd need to have a $1,000,000 business.
However you can not have a $1,000,000 business in the little area. As well as also if you can, you're stuck at a optimum of $100,000 on your own. You're paying $70k-$ 100k/year in aristocracies of what?
That's a crazy amount of cash to pay your franchise ... the exact same company that has an contract that they hold over your head not permitting you to grow your service geographically.
They've obtained you by the rounds.
Or, you can buy one more region to grow. Yet once more ... I would certainly rather not need to spend for the right to grow my business. That's absurd.
A lot of franchises wind up in the $500,000-$ 600,000 array. You can probably make $80,000-$ 110,000, sure. You also do not ever before have adequate margin to employ various other people to run the whole organisation, which is one of the greatest advantages to building a company.
You possibly aren't generating sufficient earnings to even work with actually strong staff members. In our firm, we pay about 5-6% to our production manager who supervises $1,000,000 in manufacturing. That's $50,000-$ 60,000 each year for the manager. If you are just doing $500,000 a year in revenue, you can pay 5% ($ 25,000) to your manufacturing supervisor, which is not adequate cash for a solid staff member.
Your options are to pay a higher portion ( eliminating your revenue margin), or get the job done on your own (killing your way of life). Both of which are not really appealing options.
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IN SUMMARY:
You pay a whole lot of money to restrict your development, you do not reach construct your very own thing, and if you want to grow geographically you need to pay for the rights to do so ... assuming no one else already has the rights to the territory you are shopping.
As a result of your constraints, as well as the high royalty cost, you are considerably restricted in your capability to expand your earnings, build a strong group, and also build a big organisation.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid organisation strategy
# 2-- They do it for the assistance as well as training given 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 concern of failure
Currently, let's take a look at services. Just how can you get all the benefits without paying the high cost 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 buy my organisation system. This is the exact service system we use as well as adhere to in our service, which did over $3,000,000 in income in 2016.

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

BENEFIT # 3: THEY DO IT FOR THE COMMUNITY SO THEY AREN'T ALONE
When you join Painting Business Academy, you additionally join our personal members-only Facebook group. We have lots of inquiries asked everyday from our members.
Our community is very involved as well as active.
Individuals in our community also share their successes. Simply a few days ago someone shared a Facebook advertising strategy, verbatim, that's killing it for their organisation.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying more cash does not remove the concern of failing. With Painting Business Academy, you can obtain access to a strong business plan, organisation training, and also all of the done-for-you forms and systems that are confirmed to develop a million-dollar paint service.
You also obtain access to the impressive neighborhood of similar business owners 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 royalties to pay afterwards.
The chance of failure is the very same whether you remain in a franchise business or running your own company. Nonetheless, when you get a franchise, you are taking a bigger threat, suggesting there's a bigger failing if you do fall short.

SO WHAT NOW?
Prior to you invest in a franchise and throw hundreds of dollars down the bathroom for a tried and tested system, you could intend to check out Painting Business Academy.
Painting Business Academy is additionally a tried and tested system to build a million-dollar paint firm, with a neighborhood of thousands of others. Furthermore, there is no recurring nobility, and no geographical restrictions to development.
Get every one of the benefits of a Painting Business Franchise in Tuskegee AL for a fraction of the price. Examine the training course out below and also call me if you have any type of concerns.
The painting business is a terrific company to be in! I hope you'll belong of it soon.
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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