Tilted Forum Project Discussion Community - View Single Post - Anyone have any experiences with College Pro Painting?

JEDI · 06-03-2010, 05:53 PM

College pro painters franchisor say you could make $10k-$90k in a summer with only $2k initial investments. But, after signing the agreement, you realise that starting up my business cost you $15k from your pocket and College Pro financed $7k worth of useless garbage that they make even more money on (such as papers, logos, signs, marketing programs which have zero effect).

College Pro of course makes money though, 24% off every job plus you have to pay for other expenses of theirs which equals about 35% in total. The only people making money was College Pro, your painters employers will be making less than minimum wage because the budgets are too short to allow a quality job. The end result was several months spent working long hours weekly and over thousand dollars debt incurred.
True facts: if you sell anything under $75,000 paint jobs obtained, your going to make nothing. There is NO guarantee of making any money! Example on a 50K business, you will make $3000 for working 70 hours a week for 6 months (1,78$ per hour). Total SCAM!
It isn’t really 24% royalty that you pay to the franchisor, it is more like 35% with all the hidden cost you pay on each job you book. Think about it 35% College Pro charges 35% labour 15% supplies if your lucky you be left with maybe 15% to pay for your car, marketing, equipment. Don’t forget the $6000 charge for what they call recoverables. They also require you to buy from a particular paint store where they get kickbacks from the store.
In total on a 50K biz they take 25K. They will take everything you have! If your thinking of becoming a franchisee it will be a mistake of a life time. You have greater chances of making money by starting your own company and make 45-50% profit of the sale and not 10-15% profit like with college pro! In short, they rip off the inexperienced young students (franchisees), and overcharge their customers with poor work.
If the Franchise Manager turns out to be bad, it is in his best interest to continue plugging away and being bad because he will face a $2, 000 fine if he quits or is fired, in addition to any bills College Pro charges him.

Oh and one other thing, if you have any debt with them, they let you keep NOTHING. This means that if you have to pay for car depreciation, gas, car leasing and business insurance, food, or even rent during the course of the summer, good luck getting them to let you have any money for it whatsoever. Note also that the insurance of your car is for pleasure only and if your get into an accident while on doing your business, your insurance company may void your insurance and don’t pay you or the other party for any damages, and that may ruin you financially for years.

This company preys on unsuspecting college students who think they can make money doing this. My advice, STAY AWAY, don’t be a sucker, and this may ruin your financial future.

06-03-2010, 05:53 PM	#20 (permalink)
JEDI Upright	College pro painters franchisor say you could make $10k-$90k in a summer with only $2k initial investments. But, after signing the agreement, you realise that starting up my business cost you $15k from your pocket and College Pro financed $7k worth of useless garbage that they make even more money on (such as papers, logos, signs, marketing programs which have zero effect). College Pro of course makes money though, 24% off every job plus you have to pay for other expenses of theirs which equals about 35% in total. The only people making money was College Pro, your painters employers will be making less than minimum wage because the budgets are too short to allow a quality job. The end result was several months spent working long hours weekly and over thousand dollars debt incurred. True facts: if you sell anything under $75,000 paint jobs obtained, your going to make nothing. There is NO guarantee of making any money! Example on a 50K business, you will make $3000 for working 70 hours a week for 6 months (1,78$ per hour). Total SCAM! It isn’t really 24% royalty that you pay to the franchisor, it is more like 35% with all the hidden cost you pay on each job you book. Think about it 35% College Pro charges 35% labour 15% supplies if your lucky you be left with maybe 15% to pay for your car, marketing, equipment. Don’t forget the $6000 charge for what they call recoverables. They also require you to buy from a particular paint store where they get kickbacks from the store. In total on a 50K biz they take 25K. They will take everything you have! If your thinking of becoming a franchisee it will be a mistake of a life time. You have greater chances of making money by starting your own company and make 45-50% profit of the sale and not 10-15% profit like with college pro! In short, they rip off the inexperienced young students (franchisees), and overcharge their customers with poor work. If the Franchise Manager turns out to be bad, it is in his best interest to continue plugging away and being bad because he will face a $2, 000 fine if he quits or is fired, in addition to any bills College Pro charges him. Oh and one other thing, if you have any debt with them, they let you keep NOTHING. This means that if you have to pay for car depreciation, gas, car leasing and business insurance, food, or even rent during the course of the summer, good luck getting them to let you have any money for it whatsoever. Note also that the insurance of your car is for pleasure only and if your get into an accident while on doing your business, your insurance company may void your insurance and don’t pay you or the other party for any damages, and that may ruin you financially for years. This company preys on unsuspecting college students who think they can make money doing this. My advice, STAY AWAY, don’t be a sucker, and this may ruin your financial future.