California's Huge Luxury Home Market Is Why LIME Painting Franchise Sees Strong Opportunity
LIME Painting franchise, the premier comprehensive one-stop shop for quality painting, custom coatings and restoration solutions for high-end properties, is expanding beyond Denver. After perfecting a successful and scalable model over the course of 11 years, the brand is now offering franchise licenses across the country—with a specific focus on big opportunities in the state of California.
LIME Painting has identified California as a key state for franchising due to its booming economy, high concentration of multi-million dollar properties and temperate climate ideal for delivering outdoor services year-round. The luxury painting service franchise is looking to award up to two territories in Sacramento, two to five in San Diego, four to six territories in San Francisco and five to eight in Los Angeles.
While most paint companies can offer a couple of custom services here or there, LIME Painting franchise has differentiated itself as a holistic service provider in the high-end market. The franchise specializes in custom coating and restoration of the high-end stucco, modern contemporary and beautiful historic homes that California is known for. Additionally, the brand specializes in unique commercial properties, from resorts to country clubs to restaurants that require custom stains, lacquers, epoxies and enamels.
“A lot of times, property owners in California have to get multiple bids from different vendors, which takes more time and increases the risk of things going wrong,” said Nick Lopez, founder and CEO of LIME Painting. “The customer becomes the general contractor—the one scheduling, auditing and maintaining the logistics of each individual contractor’s skill set for the project. But because LIME Painting offers an all-encompassing turnkey service, the experience for both the customer and the operator goes smoothly.”
LIME Painting franchises through either an owner-operator or semi-absentee model. Owners manage only small teams of employees, building a network of local subcontractors who directly benefit from the model.
Lopez noted that no previous painting experience is necessary to own a LIME Painting franchise, as successful operators are entrepreneurial and sales-focused, not necessarily service providers. He said the ideal LIME Painting franchisee is a collaborative leader who has proven their ability to grow networks of contractors, lead trainings and build teams of skilled salespeople.
Franchisees should also be process-oriented and have attention to detail. “We have a proven system, so franchisees can focus on following that system while mastering the details,” said Lopez. “Everything else can take care of itself.”
Individuals should also be comfortable using technology, as it’s a key piece of the business. The brand’s robust LIMEWare platform assists and simplifies all aspects of operations including sales, client management and production streams.
Lopez started his career in 2008, and has spent the last six years fine-tuning LIME Painting’s model in preparation for franchising and offering comprehensive resources for its owners across the country. LIME Painting’s executive team has over 100 years of combined experience in franchising and are actively involved in supporting franchisees throughout the process.
“California is an ideal market for LIME Painting because the temperate climate allows a franchisee to generate revenue 365 days a year,” said Linton Dowling, Marketing Director of RainTree, the franchise development consulting firm which represents LIME Painting. “Also, California currently has the fifth-largest economy in the world. There is a high concentration of millionaires and billionaires in places like Silicon Valley, Los Angeles and San Diego who want to make a quality investment in the appearance and integrity of their homes.”
Dowling added that California can be a difficult market to break into for many franchises, as state requirements prohibit franchisors from collecting franchise fees until a location is up and running. “Growing franchises are less inclined to go to California, as the fees are often used to support new operators in launching their businesses,” he said. “The benefit for LIME Painting is that operators don’t need to find real estate for a brick-and-mortar location. That is a reduced cost, and franchisees can start working immediately. The market is already there, waiting.”
As a values-based business, LIME Painting expects to be embraced by the California market. LIME—an acronym for Love, Integrity, Mission, Excellence—emphasizes the value of people before profits. “I believe these are values that California residents hold highly,” said Lopez. “The business offers tremendous value from a service standpoint, and in addition, what the brand represents in its mission is aligned with the California ethos.”
Lopez said that LIME Painting’s franchise model is based on intentionally giving the power, resources and influence gained through the business back to the community. Every franchise owner is highly encouraged to give back through LIME Light Outreach, Inc., the brand’s own nonprofit organization that empowers youth through sharing knowledge. “California is a great fit for the platform that LIME Light gives owners to give back,” said Lopez. “We are intentional about stewarding the responsibility that comes with success.”
With its low investment and high franchise revenue model, LIME Painting owners historically experience significant year-over-year economic growth. While the industry average paint job costs around $2,800, the average ticket at LIME is as high as $11,000. Potential franchisees seeking more information have the opportunity to talk with the brand’s Franchise Development Manager as well as access the brand’s Franchise Disclosure Document (FDD), which includes Item 19 financial information.
With a ramp-up time of 30 to 90 days, LIME Painting franchise owners can start their business for less than $90,000 with a $45,000 franchise fee. LIME is seeking franchisees in California with $50,000 in liquid capital, a net worth of $150,000 and a 650 or higher credit score. Multi-unit incentives are also available. For more information, visit http://bit.ly/2NnD4ZN.