In this FDD Talk 2017 post, you’ll learn the following:
- Section I – Background information on the Wow 1 Day Painting franchise opportunity, including relevant news updates
- Section II – Estimated initial investment for a Wow 1 Day Painting franchise, based on Item 7 of the company’s 2017 FDD
- Section III – Initial franchise fee, royalty fee, marketing fee, and other fees for a Wow 1 Day Painting franchise, based on Items 5 and 6 of the company’s 2017 FDD
- Section IV – Presentation and analysis of Wow 1 Day Painting’s financial performance representations, based on Item 19 of the company’s 2017 FDD, including information on the:
- 2016, 2015, and 2014 average gross revenue, median gross revenue, and average job size for Wow 1 Day Painting franchisees operating in the United States for more than 24 months, and for at least 1 day in the given calendar year
- 2016, 2015, and 2014 average gross revenue, median gross revenue, and average job size for Wow 1 Day Painting franchisees operating in Canada for more than 24 months, and for at least 1 day in the given calendar year
- 2016, 2015, and 2014 average number of estimates performed, number of jobs performed, and conversion/success rate (estimates to jobs) for Wow 1 Day Painting franchisees open for at least 1 day in the given calendar year
Section I – Background Information
10 Things You Need to Know About the Wow 1 Day Painting Franchise
1. Wow 1 Day Painting was founded in 2011 by Brian Scudamore. Scudamore is the founder and CEO of O2E Brands, which is also the parent company of 1-800-Got-Junk, You Move Me, and Shack Shine.
2. Scudamore was inspired to start Wow 1 Day Painting in 2010 after he had his home painted in one day. He wanted to offer painting services that would be both speedy and of high quality. Today, there are over 35 Wow 1 Day Painting locations in the United States and Canada.
Opening New Locations
3. Although growth has been moderate, Wow 1 Day Painting has opened several new locations over the past year. New locations include those in Colorado, Florida, Arizona, Northern Virginia, and Nevada.
How the Company Paints a Home Quickly and Thoroughly
4. Wow 1 Day Painting’s biggest selling point is the company’s promise that it can paint a customer’s house quickly, with minimal mess and chaos. To do this, the company has a three step process: Estimate, Prepare, and Paint.
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5. The company also assures that the smell of paint fumes won’t be left behind after a project is complete. Wow 1 Day Painting uses zero Volatile Organic Compounds (VOCs) paints, which are better for the environment and customers’ health.
6. When a customer schedules a free estimate, they are given a detailed outline of what painting services are needed. Trained estimators give customers an accurate up-front cost for the project and the company says there are never any hidden fees.
7. After the customer is satisfied with the proposal, Wow 1 Day Painting sends a checklist that tells the customer everything they need to do to prepare the space to be painted. An employee will also call the customer to go over all the details and answer any questions. Before painting begins, the crew will do one final walk-through to make sure everything is ready and answer any more questions a customer may have.
8. To get the painting job done quickly, the company always makes sure to have the right number of painters working on a project. The painters also use a painting technique that is both quick and efficient.
9. To complete the process, the crew does one final walk-through to check for any needed touch-ups. The customer will then receive a call the next day to make sure that the work, colors, and products have met their expectations.
Entrepreneur’s Franchise 500
10. Wow 1 Day Painting has only been in business for a few years and has not yet appeared on Entrepreneur’s annual Franchise 500 list. However, the company did earn a spot on Entrepreneur’s Top 100 New Franchises in 2015. Wow 1 Day Painting was ranked No. 47 on that list.
Section II – Estimated Costs
- Please click here for detailed estimates of Wow 1 Day Painting franchise costs, based on Item 7 of the company’s 2017 FDD (updated).
Section III – Initial Franchise Fee, Royalty Fee, Marketing Fee, and Other Fees
- Please click here for detailed information on Wow 1 Day Painting’s initial franchise fee, royalty fee, marketing fee, and other fees, based on Items 5 and 6 of the company’s 2017 FDD.
Section IV – Financial Performance Representations (Item 19, 2017 FDD) and Analysis
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