The leading residential painting company is poised to welcome more than 40 new business owners to its ever-growing network by the end of the year.
The home services industry is booming, and brands like Fresh Coat—the country’s leading residential painting company—are rapidly expanding as a result. Right now, Fresh Coat boasts more than 120 successful units. But the brand’s business momentum is picking up speed in 2016.
Seven new franchisees have joined Fresh Coat’s system since January, putting the brand on pace to add another 40 franchises to its ever-growing network by the end of the year. That’s a growth rate of roughly 32 percent. Fresh Coat’s vice president of operations, Nathan Millhouse, says the brand’s successful expansion efforts are due to its commitment to teaming up with the right business owners.
“Fresh Coat gives entrepreneurs the chance to step into a company that has a proven system. Our model has been successful for the past decade,” said Millhouse. “Our goal is to help our franchisees create a business with a lot of value. We provide true business coaching in order to ensure that our owners can grow.”
The timing couldn’t be more perfect for new franchisees signing on with Fresh Coat. The brand’s average gross revenue—which hit over the $418,200 mark in 2015 after coming in at $361,686 the year before—is at a point where it’s essential for the brand to start scaling and adding additional franchises to its network in order to increase the size of its footprint. Fresh Coat is already performing well in its existing territories, but there are still opportunities for new businesses available across the country.
Richard Emery, who retired from the U.S. Navy, is one of Fresh Coat’s newest franchisees. His old neighbor was a Fresh Coat owner and frequently sang the company’s praises, so when he decided he wanted to own his own business he looked into the brand. Emery ultimately found that Fresh Coat was the right fit for him because of the company’s strong history of working with veterans and impressive corporate team. So far, his experience with Fresh Coat has been a positive one. Even though Emery’s first location in Winter Park, Florida just opened its doors in May, he’s already making plans to open another five units in the future.
“The thing that I’m most excited about now as I’m getting my business off the ground is the same thing that I’ll be excited about in five years. Owning a Fresh Coat gives me the opportunity to meet all kinds of people and make their homes better,” said Emery. “At the end of the day, a job well done means improving the place where people gather with their friends and families.”
Emery also decided to open his own Fresh Coat location because the price was right. New franchisees can expect their initial investment to range from $53,850 to $81,750, including the franchise fee.
“The possibilities for our franchisees and their rapidly growing businesses are unlimited. Fresh Coat has already established itself as a leading national name in the massive home services industry, and it’ll only continue to grow as it enters new markets across the country,” said Millhouse.