In this FDD Talk 2015 post, you’ll learn the following:
- Section I – Background information on the ProTect Painters franchise opportunity, including relevant news updates
- Section II – Estimated initial investment for a ProTect Painters franchise, based on Item 7 of the company’s 2015 FDD
- Section III – Presentation and analysis of ProTect Painters’ financial performance representations, based on Item 19 of the company’s 2015 FDD, including information on the:
- 2014 “Benchmark Numbers” for gross sales, job size, estimate closing rate percentage, and gross profit percentage achieved by ProTect Painters franchisees who were in business for more than two years and who were still in operation as of December 31, 2014. (Benchmark Numbers are defined as the minimum level achieved by the top quartile of the system in each of the performance metrics.)
- average, high, and low size of jobs completed during the period of January 1, 2014 to December 31, 2014 by all owners open for at least two calendar years and still in operation as of December 31, 2014
- average close rate for all estimates performed during the period of January 1, 2014 to December 31, 2014 for all owners open for at least two calendar years and still in operation as of December 31, 2014
- 2014 average, high, and low total revenue, cost of materials, cost of labor, advertising, sales/production wages, insurance, royalty and fees, vehicle expenses, general and administrative expenses, other expenses, and dollars available to owner for the 10 owners who were open for at least 12 months as of December 31, 2014; were still in operation as of December 31, 2014; and generated at least $400,000 in gross sales for the period of January 1, 2014 to December 31, 2014
- percentage of revenue, by job type (interior or exterior), for the period of January 1, 2014 through December 31, 2014 for all owners who were active as of December 31, 2014
- percentage of revenue, by customer type (residential or commercial), for the period of January 1, 2014 through December 31, 2014 for all owners who were active as of December 31, 2014
Section I – Background Information
ProTect Painters has become part of a wider network of service industry franchises through Dwyer Group’s June 2015 acquisition of Service Brands International and the group’s recent purchase of Five Star Painting, previously a competitor of ProTect Painters. Dwyer Group intends to merge the two painting chains into one network, although naming has yet to be determined.
ProTect Painters provides full-service interior and exterior painting and staining, with services such as color consultation and a detailed plan with upfront pricing.
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SBI Doubled Franchise Owners in One Year
SBI, a multi-concept franchise system that also included the Molly Maid and Mr. Handyman franchises, acquired ProTect Painters in 2009 and doubled the chain’s number of franchise owners over the next year. The chain began in 1994, founded by painting industry veteran Wayne Sherger, and was originally headquartered in Boston. Franchising began in 1996. After the SBI acquisition, its headquarters were moved to Ann Arbor, Michigan.
Waco, Texas-based Dwyer Group, a holding company that now has 11 franchise businesses, plans to expand ProTect Painters and focus on serving both residential and commercial customers as the merger of ProTect Painters and Five Star Painting develops.
The purchase was the largest in Dwyer Group’s history and will bring the Dwyer organization to a total of more than 2,100 franchises among all its brands.
The acquisition positions SBI Chairman David McKinnon as an equity stakeholder in the Dwyer Group and senior adviser to the Dwyer board of directors. SBI’s three franchise networks will transition to the Dwyer Group, along with the senior leadership, with an office remaining in Ann Arbor.
Residential and Commercial Services Offered
ProTect Painters offers both residential and commercial painting and staining services, and the chain emphasizes the value of clients working closely with their ProTect Painters franchise. Among the commercial jobs the chain does are exteriors and interiors of buildings that include new construction, condos, apartment complexes and multi-family housing.
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The chain works with popular paint suppliers such as Sherwin-Williams and Benjamin Moore, but can use any brand the client prefers. The chain tries to be eco-friendly wherever possible.
Blue Paisley Crowned as Top Color
The Definitive Color of the Year for 2015 is Blue Paisley, ProTect Painters announced in January 2015 after working with more than 1,500 interior design experts.
The energetic deep blue shade, offered by PPG Pittsburgh Paints through its The Voice of Color program, was one of four Colors of the Year selected by industry experts. The others were Coral Reef from Sherwin-Williams, Guilford Green from Benjamin Moore, and Seared Gray, produced by Behr. Experts chose Blue Paisley as the color that would lead paint color trends in 2015.
Section II – Estimated Costs
- Please click here for detailed estimates of ProTect Painters franchise costs, based on Item 7 of the company’s 2015 FDD.