Why Not To Buy A Painting Business Franchise in West Samoset FL

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Should You Buy a Painting Business Franchise in West Samoset FL ?

Don't Buy a Painting Business Franchise in West Samoset FL

• 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 West Samoset FL
• 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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• 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 West Samoset FL

If you are assuming of acquiring a painting franchise, stop today.
I'm mosting likely to break down the basic problems with buying a painting franchise, and also the alternate choices you need to begin a painting firm.

This is based upon my experience growing a successful painting organisation where we took into consideration becoming a franchise business but selected a partnership arrangement instead. I listen to the struggles of franchisee's frequently, and I really feel for them.



Painting Business Franchise in West Samoset FL 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 West Samoset FL 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 West Samoset FL ?

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Is it better to start a painting business or buy a Painting Business Franchise in West Samoset FL ?

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BR> I don't want you to finish up in the exact same setting that numerous franchisees find themselves in.
There is a far better means! We will certainly start with the issues of a franchise, then we'll enter into solutions.

TROUBLE # 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 franchises out there.
These franchises range from $10,000-$ 40,000 in franchise business charges just for the right to the franchise in a limited number of zip codes where you can operate your franchise business.
They likewise take 6-9% as an recurring aristocracy ... permanently.
If you are in service for 10 years and you produce $5,000,000 in revenue, this franchise business winds up costing you upwards of $500,000. That's a steep rate to pay.
And obviously you obtain some assistance and organisation systems, but every little thing that a franchise business gives can be acquired with other avenues for much less than $500,000.

ISSUE # 2: HOW FRANCHISES SCREW YOUR ABILITY TO GROW YOUR BUSINESS
When you acquire a Painting Business Franchise in West Samoset FL you are acquiring the civil liberties to that business in a established territory. You are appointed a little number of zip codes where you have the rights to the service.
This is a HUGE trouble. The simplest method to expand as well as expand a painting organisation is by broadening geographically. Franchise business eliminate this right.
Painter Choice is our advertising business. We collaborate with franchisees throughout the country. I always feel dreadful for these company owner because they have such a difficult time generating organisation.
A common firm in Atlanta, as an example, can utilize our lead solution in North Atlanta to generate 20-30 leads monthly.
But a franchisee in North Atlanta who only owns the legal rights to 7-8 zip codes can just produce 5-7 leads monthly from our lead solution.
Simply put, if those franchisees had their own company, they might immediately raise their service 3-5 times! In other terms, that means an boost from $500,000 to $2,000,000. This is a large constraint on your potential company development.
As a franchisee, your only option is to buy more region, or such it up and keep your company small.
If a person else currently has the close-by area, you do not have that option.

ISSUES # 3: DO THEY REALLY CARE ABOUT WHAT YOU CARE ABOUT?
Essentially, franchisees and the franchisor have actually misaligned incentives. The franchisor desires to generate as much earnings as possible since they earn money a set percent of revenue.
Yet as business proprietor, your objective is to optimize profit.
I'm a big believer in aligning incentives, and in this case, motivations are not lined up. They are playing a various video game than you are. They wish to optimize revenue in all of their areas, as well as offer as many franchises as they can.

ISSUE # 4: YOU'RE BUYING A JOB, NOT A BUSINESS
You're getting a job. Allow me show you why.
As a result of aristocracies, your margins wind up being around 10% -12% nevertheless company expenses.
In order to make $100k/year you would certainly have to have a $1,000,000 company.
However you can't have a $1,000,000 service in the small area. And also even if you can, you're stuck at a maximum of $100,000 for on your own. You're paying $70k-$ 100k/year in royalties wherefore?
That's a ridiculous amount of money to pay your franchise business ... the same business that has an contract that they hold over your head not enabling you to grow your organisation geographically.
They've obtained you by the spheres.
Or, you can get an additional region to grow. Once more ... I 'd instead not have to pay for the right to expand my organisation. That's absurd.
Most franchises finish up in the $500,000-$ 600,000 array. You can most likely make $80,000-$ 110,000, sure. You additionally do not ever have adequate margin to work with other people to run the whole organisation, which is one of the greatest benefits to constructing a company.
You probably aren't generating enough revenue to also work with truly strong workers. In our firm, we pay concerning 5-6% to our production manager who oversees $1,000,000 in production. That's $50,000-$ 60,000 annually for the supervisor. If you are only doing $500,000 a year in revenue, you can pay 5% ($ 25,000) to your manufacturing supervisor, which is not enough cash for a solid staff member.
Your options are to pay a greater percentage ( eliminating your earnings margin), or get the job done on your own (killing your lifestyle). Both of which are not extremely attractive alternatives.
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IN SUMMARY:
You pay a great deal of cash to restrict your growth, you do not obtain to construct your own thing, and also if you want to grow geographically you need to spend for the rights to do so ... presuming nobody else already has the rights to the region you are shopping.
Due to your restrictions, and also the high aristocracy charge, you are significantly restricted in your capability to expand your revenue, build a strong team, and also build a big company.

WITH ALL THESE PROBLEMS ... WHY DO PEOPLE DO IT?
# 1-- They do it for the solid business strategy
# 2-- They do it for the support and training provided by the franchise business
# 3-- They do it for the neighborhood of other franchisees so they aren't alone
# 4-- They do it out of concern of failure
Currently, allow's take a look at services. Just how can you get all the benefits without paying the steep cost of a franchise?

BENEFIT # 1: THEY DO IT FOR THE SOLID BUSINESS PLAN
For 1/10th of the expense of a franchise, you can buy my service system. This is the exact organisation system we utilize and follow in our service, which did over $3,000,000 in profits in 2016.

ADVANTAGE # 2: THEY DO IT FOR THE SUPPORT AND TRAINING PROVIDED
My training course consists of training as well as assistance. When you get begun with Painting Business Academy, you obtain access to the entire organisation system as well as all of the training that goes along with 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 private members-only Facebook group. We have loads of inquiries asked everyday from our members.
Our community is very involved and also active.
Individuals in our neighborhood even share their successes. Just the other day someone shared a Facebook advertising approach, verbatim, that's killing it for their company.

ADVANTAGE # 4: THEY DO IT OUT OF FEAR OF FAILURE
Paying even more money does not get rid of the concern of failure. With Painting Business Academy, you can get accessibility to a solid organisation plan, organisation training, and also all of the done-for-you types and also systems that are verified to develop a million-dollar painting company.
You additionally get accessibility to the incredible community of similar business owners doing the same point as you that we spoke around earlier. While you do pay 1/10th of the price up front (on the high-end), you have NO nobilities to pay after that.
The possibility of failure is the very same whether you are in a franchise or running your own company. Nonetheless, when you get a franchise business, you are taking a larger threat, meaning there's a larger failure if you do stop working.

WHAT NOW?
Before you spend in a franchise and toss thousands of dollars down the bathroom for a tried and tested system, you might wish to have a look at Painting Business Academy.
Painting Business Academy is additionally a tested system to build a million-dollar painting business, with a area of thousands of others. Additionally, there is no recurring royalty, and no geographical limitations to development.
Obtain all of the advantages of a Painting Business Franchise in West Samoset FL for a fraction of the price. Inspect the training course out here as well as contact me if you have any type of questions.
The paint business is a excellent business to be in! I hope you'll be a part of it soon.
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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