The first step towards owning a successful franchise is doing your research. Good job!
We believe in transparency. Leaving the security of your nine-to-five and being your own boss can be scary. We asked some of our most successful franchise partners what surprised them when they started their painting franchise.
Planning for long-term success with your painting franchise investment
When calculating the cost of a painting franchise, it's easy to focus solely on the initial investment. But you need to plan for the ongoing costs so you can get your painting business running successfully from the beginning.
Labor Costs
Labor is the biggest ongoing cost for franchise partners. There are costs beyond the hourly wage: training, employment insurance, benefits and vacation can add up quickly.
Let’s be clear, Franchise Partners don’t only use hourly staff. They also work with carefully selected subcontractors at times to meet the growing demands of the business. However, unlike other painting franchises that use subcontractors exclusively, our Franchise Partners see the most success in having a dedicated team of painters that produce high-quality work for our valued customers
Incorporate these labor costs into your business plan. This will ensure your team enjoys coming to work each day while you run a profitable business.
Marketing
We’ve got amazing brand materials and a website but it’s up to Franchise Partners to invest in local marketing and advertising. From lawn signs to digital ads, there’s a cost associated with building brand awareness, especially when you’re first starting the business.
We recommend you have a solid budget for local marketing during the start-up phase, especially if you’re in a seasonal market where you can’t do exterior jobs at certain times of the year. Leading up to busy seasons, you will want to invest more on advertising and lead generation initiatives.
Community Networking
One of the most powerful ways to grow your business is to be an active community member. Many of our WOW 1 DAY PAINTING Franchise Partners join networking groups (like their local chamber of commerce) and they invest in community sponsorships (like youth sports teams) to get the brand name out there.
Grow franchise efficiencies
Just because you own a franchise doesn’t mean you have to do everything yourself. In fact, you can’t do it all! Building your team to support efficiencies can go a long way.
Spend your time doing what you’re best at
Some people love customer service. Some people love operations and processes. It’s a lot easier to enjoy your work every day when you do what you’re good at and what you like doing.
Start with what you actually need
It’s okay to start small in the beginning. It’s a process! Once the business is up and running, you will have a better understanding of what you actually need when it comes to staff, supplies and equipment.
Continuous Learning
We offer a number of educational opportunities like webinars, training sessions and planning meetings to help you learn about the industry and best practices for your painting business. We have a world-class Learning Management System that makes it easy for Franchise Partners and their staff to continuously develop their skills.
To take a deeper dive into your business, Franchise Partners can join a Forum Group. These small groups of business owners, each with different experience levels, go to each other’s businesses to learn from each other’s direct experience. It’s a powerful and effective way to increase business performance.
Ready to be your own boss?
Painting franchise ownership offers a world of opportunities! Remember, success lies in the details – don't be afraid to learn from the experiences of others, you’re not in this alone!