WOW 1 Day Painting Franchise in 2024: Costs, Fee & FDD
Looking to invest in Wow 1 Day Painting? Discover the franchise’s unique selling point, impressive growth, and solid market position in the home services sector. Learn about potential earnings, fees, and the support you’ll receive to succeed!
Table of Contents:
Wow 1 Day Painting was founded by experienced entrepreneurs who saw an opportunity to revolutionize the traditional painting industry with an innovative approach: delivering professional, high-quality painting services in just one day. This game-changing concept has gained widespread attention and positioned Wow 1 Day Painting as a leader in the home services space. The franchise was designed to cater to both residential and commercial markets, offering convenience and top-notch service. Wow 1 Day Painting’s success is built on its unique selling point—providing exceptional quality and fast turnarounds, setting it apart from other painting companies in the industry.
The core services of Wow 1 Day Painting include interior and exterior painting for residential homes, office buildings, and other commercial spaces. They focus on transforming spaces with minimal disruption, offering painting, touch-ups, and specialty services such as drywall repair. Ancillary services include consultations, color selection assistance, and post-project clean-up. The company’s primary customers include homeowners, property managers, and businesses seeking professional and timely painting solutions for both aesthetic and functional purposes. Core markets served include suburban neighborhoods, urban areas with high demand for office spaces, and commercial properties requiring efficient turnarounds.
Wow 1 Day Painting has expanded its reach significantly and currently operates across over 50 locations in North America, predominantly in the United States and Canada. The brand has been growing steadily, benefitting from the increasing demand for home improvement services and the franchise’s ability to scale quickly in various regional markets. With a daily customer base that includes homeowners, real estate agents, and business owners, Wow 1 Day Painting has established itself as a trusted and reliable brand in the painting industry, catering to a diverse range of clientele.
The franchise offers a robust support system to its franchisees, which includes initial training programs that cover sales, marketing, operations, and customer service. The training is designed to ensure franchisees are well-equipped to manage the painting projects efficiently while providing excellent customer service. Franchisees also benefit from ongoing marketing support, national advertising campaigns, and access to Wow 1 Day Painting’s proprietary systems, including scheduling and project management tools. With a comprehensive support structure and an established brand, the franchise provides a solid foundation for entrepreneurs seeking to invest in the home services industry.
Wow 1 Day Painting Franchise Insights
- The upfront franchise fee to join Wow 1 Day Painting is $50,000, which grants franchisees access to the brand, systems, and operational support.
- With a proven business model, Wow 1 Day Painting franchises benefit from a strong brand recognition and demand for residential and commercial painting services, generating significant revenue potential. The franchise’s average revenue per unit shows solid financial performance, making it an appealing option for prospective franchisees.
- Wow 1 Day Painting currently operates 46 franchised locations in the U.S., with no corporate units, indicating the brand’s reliance on its franchisees to expand and grow in various regions.
- The franchise started offering opportunities in 2010, and its current expansion indicates strong market demand for its efficient and quality painting services.
- Franchisees benefit from access to proprietary scheduling and project management tools, which streamline operations and enhance customer satisfaction. This technological support helps franchisees maintain high service standards while managing multiple projects efficiently.
Wow 1 Day Painting Franchise Key indicators
Growth YOY (%)
10%
vs industry 4%
Total U.S. Franchised Units
46
3-Year Failure Rate
32%
vs industry 13%
Sales-to-Investment ratio
3.4:1
How much does it cost to open a Wow 1 Day Painting franchise? (H2)
Understanding the potential investment size and capital requirements is crucial when considering opening a Wow 1 Day Painting franchise. These financial commitments, including initial franchise fees, equipment costs, and ongoing operational expenses, impact the feasibility and profitability of the venture. Thoroughly evaluating these factors ensures that potential franchisees are prepared for the financial responsibilities and can make informed decisions about their ability to sustain and grow the business, ultimately contributing to long-term success.
Min & Max Investment
Opening a Wow 1 Day Painting franchise involves several key costs, which are outlined in Item 7 of the Franchise Disclosure Document (FDD). you can see a breakdown of the costs to open a Wow 1 Day Painting below from the most recent Item 7 below:
| Type of Expenditure | Minimum Investment | Maximum Investment |
|---|---|---|
| Initial Franchise Fee | $40,000 | $60,000 |
| Initial Marketing Expense | $15,000 | $20,000 |
| Computer Hardware and Software | $1,000 | $3,000 |
| Vehicles & Graphics Lease/Purchase | $4,800 | $5,000 |
| Real Estate/Rent | $0 | $4,500 |
| Training Expenses | $3,500 | $7,700 |
| Insurance | $4,000 | $16,000 |
| Additional Insurance Premiums – Certain States | $0 | $9,500 |
| Office Equipment and Supplies | $0 | $1,000 |
| Licenses and Permits | $500 | $2,000 |
| Professional Fees | $2,000 | $5,000 |
| Equipment | $2,500 | $4,500 |
| Additional Funds – 3 Months | $15,000 | $25,000 |
| TOTAL | $88,300 | $163,200 |
Item 7 in the Franchise Disclosure Document (FDD) is the “Estimated Initial Investment” section. It outlines the total costs a franchisee can expect to incur when starting a franchise, including the initial franchise fee, equipment, inventory, real estate, and other startup expenses. This section is crucial because it provides potential franchisees with a detailed understanding of the financial commitment required, helping them assess affordability and plan their investment strategy effectively.
Required Capital
To open a Wow 1 Day Painting franchise, the required capital involves both the initial investment costs and a net worth requirement set by Wow 1 Day Painting. Let’s take a closer look below:
- Initial Investment As shown above, the total estimated initial investment ranges from $88,300 to $163,200. This includes all the startup costs such as the franchise fee, real estate, construction, equipment, initial inventory, and additional funds for initial operating expenses. Assuming that you will finance your franchise investment, you should plan to have 20% of the total investment amount in the form of equity (cash) for the investment.
- Liquid Assets In the painting and home services industry, franchisors generally expect franchisees to have liquid assets to cover initial operating costs, especially during the first few months of operation. A good estimate for liquid assets would be around $30,000 to $50,000.
- Net Worth Many franchises require a net worth of at least twice the total investment amount to ensure financial stability. For Wow 1 Day Painting, this would suggest a net worth of approximately $176,600 to $326,400.
How much does a Wow 1 Day Painting franchise owner make?
Calculating the salary of a Wow 1 Day Painting franchise owner involves analyzing gross sales to determine total revenue, assessing operational efficiency to understand profit margins, and accounting for franchisor fees and additional expenses such as rent, utilities, and payroll. Effective management of these factors can significantly impact the profitability and financial success of a Wow 1 Day Painting franchise owner. This comprehensive financial analysis helps estimate net profits, from which the owner’s salary can be derived. A clear understanding of these factors ensures accurate salary projections and financial planning for sustainable business operations.
Wow 1 Day Painting Revenue & Gross Sales
Wow 1 Day Painting has demonstrated strong revenue performance, with median gross sales reaching $431,264. This figure reflects the franchise’s successful business model and its ability to generate substantial revenue through efficient, high-quality painting services. The brand’s emphasis on fast turnarounds and exceptional customer service has contributed to its steady growth, allowing franchisees to maintain profitability in a competitive market. With its proven approach, Wow 1 Day Painting continues to attract customers and expand its presence across the U.S.
Which key factors impact the average revenue performance of Wow 1 Day Painting franchisees?
Several factors likely contributed to the performance of U.S. franchisee median gross sales for Wow 1 Day Painting this past year. Increased demand for home improvement and renovation services, driven by a strong real estate market and homeowners investing in property upgrades, likely played a significant role. Additionally, the franchise’s unique selling proposition of completing high-quality painting jobs in just one day has continued to attract customers seeking efficiency and minimal disruption. The brand’s strong reputation, coupled with ongoing marketing support and the use of proprietary systems to streamline operations, likely helped franchisees optimize their business processes, improving both customer satisfaction and profitability. These factors combined likely drove the increase in gross sales year-over-year.
Wow 1 Day Painting Franchise Operational Costs
If you were to open a Wow 1 Day Painting franchise, the key primary ongoing operational costs to consider would include:
- Labor Costs Wages for employees such as painters, project managers, and administrative staff, which are essential for delivering quality services and managing day-to-day operations.
- Supplies and Materials Regular purchases of paint, brushes, rollers, drop cloths, and other materials required for painting jobs. These costs can vary depending on the scale and frequency of the jobs.
- Vehicle Expenses Costs associated with maintaining and operating service vehicles, including fuel, insurance, and vehicle upkeep, as these are crucial for transporting staff and materials to job sites.
- Insurance General liability, worker’s compensation, and other business-related insurance policies to protect the business and employees.
- Technology and Software Fees Ongoing expenses for proprietary software tools, scheduling, and project management systems, which help streamline operations.
- Office Rent and Utilities Costs for office space (if not home-based), along with utilities such as internet, phone, and electricity.
- Local Marketing and Advertising While corporate marketing supports the brand, you’ll need to budget for local marketing efforts such as online advertising, print materials, and promotional events to attract new customers in your specific market.
These costs are critical to ensuring smooth operations and delivering high-quality services to customers.
Wow 1 Day Painting Franchise Fees
When considering an investment in Wow 1 Day Painting, it’s essential to understand the ongoing fees that contribute to the franchise’s operational support, marketing, and technological advancements.
- Royalty Fee Franchisees are required to pay a 6% royalty fee on their gross revenue, which is due semi-monthly within three business days of the 15th and the last day of each month. This fee covers the use of the brand, operational systems, and ongoing support.
- Sales, Marketing & Technology Fee A 5% fee is also applied to gross revenue and is due on the same schedule as the royalty fee. This fee helps fund costs associated with the sales center, CRM system, technology updates, and ongoing marketing efforts such as advertising, public relations, and social media management.
- Additional Fees There may be other costs not covered by the royalty and marketing fees, such as additional technology or software fees, or potential increases in the marketing fee as the franchise evolves.
These fees ensure that franchisees receive continuous support, access to advanced technology, and participation in brand-building initiatives to drive growth and success. Always confirm the full breakdown of fees with the franchisor before proceeding.
Wow 1 Day Painting Franchise Earnings
Based on the most recent data, Wow 1 Day Painting franchisees reported median gross sales of $431,264, indicating solid revenue generation for the brand. For owner-operators, the earnings came to approximately $64,690, which reflects the potential profitability for those who are actively involved in the day-to-day operations of their franchise.
For semi-absentee owners, the earnings were slightly lower at $51,752, showing that while it is possible to operate a Wow 1 Day Painting franchise with less direct involvement, the financial performance is higher for those more engaged in daily activities. The figures demonstrate the earning potential of the franchise, with owner-operators benefiting from greater involvement and control over operations.
How to Open a Wow 1 Day Painting Franchise
Becoming a Wow 1 Day Painting franchisee is a rigorous process that involves financial scrutiny, extensive training, and thorough evaluation. However, it offers the potential for a lucrative business opportunity backed by a globally recognized brand and comprehensive support system.
The full process for how to open a Wow 1 Day Painting franchise is outlined below:
- Initial Inquiry You or your franchise specialist submits an initial inquiry basic information about your interest and background. You should also conduct thorough research on the franchise, including seeing all of the information available on the Vetted Biz franchise intelligence platform, including access to the most recent Franchise Disclosure Document (FDD).
- Franchise Application and Interview Next, you’ll complete a franchise application form. This is followed by a personal or virtual interview with the Wow 1 Day Painting team. During the interview, you can ask questions, learn about the brand’s culture, and get more insight into what it takes to run a franchise.
- Financial Assessment and Approval The franchise team will review your financial qualifications to ensure you meet the required capital, liquid assets, and net worth criteria. If you meet the financial requirements, you will receive approval to proceed with the next steps.
- Signing the Franchise Agreement Once approved, you’ll sign the franchise agreement, which formally grants you the rights to operate a Wow 1 Day Painting franchise in your chosen territory. The agreement will outline your obligations, the franchisor’s responsibilities, and the terms of operation.
- Initial Training and Onboarding After signing the agreement, you will participate in a comprehensive training program. The training covers essential areas such as operations, customer service, sales, marketing, and how to use the franchise’s proprietary systems. It ensures you’re well-equipped to start running the business effectively.
- Site Selection and Setup If you plan to open a physical location, Wow 1 Day Painting will assist you with site selection and setting up your office. This may include securing an office space, obtaining necessary equipment, and setting up the technology tools required for business operations.
- Pre-Opening Marketing and Community Engagement Before opening, you will implement pre-launch marketing campaigns with the help of Wow 1 Day Painting’s marketing team. This may include local advertising, promotional offers, and community outreach efforts to build brand awareness and attract initial customers.
- Launch and Start Operations With everything in place, you will officially open for business. Wow 1 Day Painting continues to support you through ongoing marketing efforts, operational coaching, and business development resources. The focus will be on delivering quality painting services, building a strong customer base, and growing your franchise in the local market.
Pros & Cons
Pros
Unique Selling Proposition: Wow 1 Day Painting’s ability to complete high-quality painting services in just one day sets it apart from competitors, appealing to homeowners and businesses seeking convenience and efficiency.
Proven Business Model: With 46 locations, Wow 1 Day Painting has a well-established and scalable business model. The brand’s focus on both residential and commercial markets offers diverse revenue streams.
Strong Brand Recognition: The franchise benefits from strong brand awareness, backed by effective marketing campaigns, ensuring franchisees don’t have to build a brand from scratch.
Low Overhead: Compared to many other industries, the painting franchise has relatively low overhead costs, making it more accessible to potential franchisees.
Cons
High Failure Rate: The franchise has a relatively high 3-year failure rate of 32%, which is above the industry average. This suggests that some franchisees may struggle to achieve profitability, possibly due to market saturation or operational challenges.
Seasonal Demand: The painting business can be impacted by seasonal changes, especially in colder regions where outdoor painting jobs are less feasible during the winter months.
Labor-Intensive: Running a painting business can be physically demanding, and franchisees must manage both the labor force and the logistics of numerous projects, which can be time-consuming.
Ongoing Fees: Franchisees must pay ongoing royalties (6%) and a sales/marketing/technology fee (5%) on gross revenue, which could be a significant portion of income, particularly in the early stages of the business.
