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Old 11-02-2007, 07:05 PM   #1
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Default What about Buying a Painting Franchise?

Over the past 2 weeks I have been looking into buying a painting franchise, what do you all think of that. Is it worth the $40,000-$60,000 up front?

Tell me what you think, what have been your experiences?
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Old 11-02-2007, 10:24 PM   #2
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WOULD REALLy need to know more of what they are offering, what the deal is. 40 to 60 grand up front?? why is their such a difference?? what is number based on?? how much percentage do they get from every job, what do they offer, in return???

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dave mac

ps
I would never personally get into one, but always wanted to know what they offered, and what their deal was, goodluck.

One thing about the painting game, I beleive it takes a lot of skill from production to management, if i was choosing a new proffession, i would pick one with a lot less technical skill for the labor. jmho

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Old 11-03-2007, 12:40 PM   #3
 
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Franchise meaning the privilege to use their name?
and obligation to conduct affairs their way?

At least, if nothing else, as a painter we can be independent minded !

After more thought, it would seem to me that the dollar amount you mentioned would be sufficient for you to conduct a swell advertising campaign that would cover most all the methods used today, including joining local businessmen's social organizations and networking groups.

...WE... really need more info.
Do you paint now?
Where are you?
Do you have competent crews?
What kind of painting do you wish to do?

As you may see, I am opposed to a franchise thing, but what is it that you hope to gain from the franchisor?
r

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Old 11-03-2007, 12:55 PM   #4
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It seems to me that a lot of these painting franchises focus on taking people who don't know the industry and teaching them about it. If you already know the industry I'm not sure what they are offering except a name brand (which may or may not be known) and their business systems. Business systems are great but you have to ask yourself if you want to follow someone elses instructions on how to run your business.

I've looked into several franchises (mostly non-painting) and most of them seem like your just buying yourself a job working for someone else.
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Old 11-03-2007, 12:58 PM   #5
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Also, some of them have crazy non-compete agreements. One I know of requires that you don't start another painting company for 3 years after the date in which you leave them. Crazy!
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Old 11-03-2007, 01:09 PM   #6
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Most business owners think they will be able to sell their business at the of their career. The reality is most businesses are not sellable. The reason someone buys a business is the processes that the business has in place to make money. The new owner wants to step into his purchase and either continue to make money, using the in place processes, or take those processes and grow the business either through an influx of capitol or enthusiasm. So, the justification in buying a franchise is that presumably they have in place the processes you will need to make money. They should have created a policy and procedures plan that is easy to follow and implement. A fair market value on a sellable service business is somewhere in the area of 50% of venue (according to INC magazine). Since you are not actually purchasing a business, but rather a business plan. It would be expected that a franchise would be considerably less expense. Also the franchise should have a vested interest in your success, since you must pay them a percent of either venue or profit.
In closing, sometimes a franchise is a good oppurtunity, sometimes not. You need to look at the particular offer and look deeply at your expectations.

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