- 2023 Franchise 500 Rank
N/R Not ranked last year
- Initial investment
$50K - $96K
- Units as of 2022
8 700.0% over 3 years
Richard's Painting specializes in interior and exterior residential and commercial painting as well as pressure washing services. The company boasts what it believes to be a solid business model, laser-focused techniques, unmatched customer service, and technology that simplifies transactions for clients. Above anything, Richard's Painting promises top-notch results by painting with integrity.
Richard Gould founded the company in 1999 in an attempt to provide the market with painters who won't cut corners when no one's looking and will perform their jobs correctly each time, with pride. From its humble beginnings in Salisbury, North Carolina, Richard's Painting started franchising in 2019. There are now multiple Richard’s Painting locations in the United States.
Why You May Want To Start a Richard's Painting Franchise
If you are looking for an opportunity that feels like a personal calling as much as a business, you might want to open a Richard's Painting franchise. Unlike some others, Richard's Painting attempts to invest by attaching a face to their name. They like to shake hands with their clients, give sincere professional advice, and make them feel like family.
You don't need any business experience to be a Richard’s Painting franchisee, but you have to be committed. Richard's Painting offers full support from the ground up, so you may be poised for success as you go. They will help with operations, marketing, purchasing, accounting, legalities, research, and development. With the executive team’s decades of experience in the industry, you may be able to trust that you're in expert hands.
What Might Make a Richard's Painting Franchise a Good Choice?
Strategy is one of the most vital attributes of Richard's Painting. They have a solid but straightforward operating model proven to work for over two decades. They're well differentiated in the market, and according to existing franchisees, a fairly tight-knit bunch.
Opening a Richard's Painting franchise may offer a more predictable outcome than investing in a completely new brand that could struggle to thrive in an already crowded and competitive industry.
To be part of the Richard's Painting franchise team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising fees and royalty fees.
How To Open a Richard's Painting Franchise
As you decide if opening a Richard's Painting franchise is the right move for you, make sure you take time to explore the opportunity. Research the brand and your local area to see if a Richard's Painting franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.
Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the Richard's Painting franchising team questions.
If awarded a franchise, franchisees receive a great deal of support from the Richard's Painting brand throughout the franchising process. In addition to pre-opening training, franchisees receive support through brand awareness, marketing, research, and more.
About Richard's Painting
- Franchising Since
- 2019 (2023-2019 years)
- # of employees at HQ
- Where seeking
This company is offering new franchisees throughout the US.
- # of Units
- 8 (as of 2022)
Information for Franchisees
Here's what you need to know if you're interested in opening a Richard's Painting franchise.
Financial Requirements & Ongoing Fees
Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
- Initial Franchise Fee
Definition: The initial fee paid to a franchisor to join their system
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.
- Initial Investment
- $50,200 - $96,250
Definition: The total amount necessary to begin operation of the franchise
What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.
- Veteran Incentives
- 25% off franchise fee
Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.
- Royalty Fee
Definition: A ongoing fee paid to the franchisor on a regular basis.
What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.
- Ad Royalty Fee
Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts.
What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.
- Term of Agreement
- 10 years
Definition: The length of time your franchise agreement will last.
What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.
- Is franchise term renewable?
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- In-House Financing
- Richard's Painting offers in-house financing to cover the following: franchise fee
- Third Party Financing
- Richard's Painting has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- On-The-Job Training
- 38 hours
- Classroom Training
- 36 hours
- Ongoing Support
Meetings & ConventionsToll-Free LineGrand OpeningOnline SupportSecurity & Safety ProceduresField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
Co-op AdvertisingAd TemplatesRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Additional details about running this franchise.
- Is absentee ownership allowed?
- Can this franchise be run from home/mobile unit?
Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.
- Can this franchise be run part time?
Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.
- Are exclusive territories available?
Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened.
What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.
Interested in ownership opportunities like Richard's Painting? Request a free consultation with a Franchise Advisor now.
Franchise 500 Ranking History
Compare where Richard's Painting landed on this year's Franchise 500 Ranking versus previous years.
Curious to know where Richard's Painting ranked on other franchise lists? Find out below.
Are you eager to see what else is out there? Browse franchises that are similar to Richard's Painting.
- Window coverings, window film, rugs, accessories
- Residential and commercial painting
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