Lime Painting Franchise
Audited FinancialsRisk Score
Pending analysis
Investment Range
$126,700 - $277,075
Franchise Fee
$55,000
Total US Locations
92
Business Summary
Lime Painting offers a franchise for owning and operating a business that provides project management services for painting and other home maintenance and improvement solutions. Lime Painting targets prospective clients who own or manage high-end residential properties and approved commercial facilities. Franchisees engage and work with third-party licensed painters and subcontractors to provide the approved services, rather than performing the painting themselves. The business can be operated from a home office or another approved location.
Corporate History
Lime Franchise Systems, LLC was formed in Colorado on August 30, 2017, and started offering franchises for its painting and home maintenance project management business in February 2018. The company's parent is LIME Holdings, LLC, established on the same day. An affiliated entity, LIME Painting, LLC, was formed in 2013 and has been operating businesses substantially similar to the franchised concept since 2014, providing a foundation of experience for the system.
Financial Overview
Investment Range
$126,700 - $277,075
Franchise Fee (Low)
$55,000
Franchise Fee (High)
$60,000
Royalty %
7%
Marketing %
2%
Equipment Costs (Low)
$16,000
Equipment Costs (High)
$18,500
Working Capital
$77,625
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Unqualified opinion
Financial Health Notes
The financial condition of Lime Franchise Systems, LLC, as shown in its financial statements, raises questions about its ability to provide franchisees with ongoing services and support. The company reported a net loss of $27,534 in 2024, following a net income of $421,717 in 2023 and a net loss of $217,573 in 2022. While the company's current assets exceed its current liabilities, the franchisor itself has highlighted its financial condition as a special risk to consider.
Financing Details
Lime Franchise Systems, LLC does not offer any direct or indirect financing to its franchisees. Additionally, Lime Franchise Systems, LLC does not guarantee any notes, leases, or other financial obligations for its franchisees.
Performance Metrics
Total US Locations
92
Franchised Units
81
Corporate Units
11
Franchising Since
2018
Legal & Compliance Analysis
Recent Litigation
No
Bankruptcy
No
Litigation Summary
Lime Franchise Systems, LLC has no litigation history to report.
Bankruptcy History
Lime Franchise Systems, LLC has no bankruptcy history to report for itself or its key personnel.
Agreement Terms
Initial Term
10 years
Renewal Term
10 years
Renewal Conditions
To renew the Lime Painting franchise, franchisees must provide timely notice of their intent to renew, typically between 6 to 12 months before the current agreement ends. They must ensure their business premises, mobile units, and other operational components meet Lime Painting's current standards, completing any required maintenance, renovations, or remodeling. Franchisees must also be in full compliance with their franchise agreement and all other agreements with Lime Painting or its affiliates, having no outstanding monetary obligations or uncured defaults. They are required to sign Lime Painting's then-current franchise agreement, which might have different terms, pay a renewal fee of $10,000 per designated territory, and sign a general release (subject to state law). Additionally, they must remain in possession of their business premises.
Training & Support Program
Franchisor Assistance
Lime Franchise Systems, LLC provides extensive assistance to its franchisees. Before opening, Lime Painting helps with designating and approving the business premises and territory, offers site selection guidelines, and provides access to its confidential operations manuals, approved product and supplier lists. Lime Painting also reviews and approves the layout and design of the premises and provides initial pricing guidelines. A comprehensive Initial Training Program is mandatory, including remote online training, several days of corporate training at its headquarters, and on-site training sessions at the franchisee's location around the grand opening. After opening, Lime Painting offers ongoing support including additional and refresher training programs (some optional with fees, some mandatory), continuous consultation and advice via phone, fax, intranet, and other communication channels, and further on-site assistance (for a fee). Lime Painting reviews and approves all advertising and marketing materials, manages the Brand Development Fund, and maintains an online System Site for updates, training resources, and communication with franchisees. The franchisor conducts inspections and audits of the business to ensure compliance, modifies the operations manuals as needed, and researches new products and services for the system. Franchisees may also be required to attend annual conferences for up to five days each year, for which they are responsible for their own expenses and a registration fee.
Initial Training Hours
168
Training Location
Corporate headquarters in Denver, CO, online/virtual, and at the franchisee's business location.
Ongoing Support
After opening, Lime Painting franchisees receive various forms of ongoing support. This includes additional and refresher training courses, some of which may be mandatory for up to five days annually at the corporate headquarters or another designated location, with associated fees and expenses. Lime Painting provides continuous consultation and advice on managing and operating the business via phone, fax, intranet, and other communication channels, and further on-site assistance (for a fee). Lime Painting reviews and approves all advertising and marketing materials, manages the Brand Development Fund, and maintains an online System Site for updates, training resources, and communication with franchisees. The franchisor conducts inspections and audits of the business to ensure compliance, modifies the operations manuals as needed, and researches new products and services for the system. Franchisees may also be required to attend annual conferences for up to five days each year, for which they are responsible for their own expenses and a registration fee.
Franchise Requirements
Ideal Candidate Profile
Lime Painting seeks qualified individuals or entities who are capable of independently owning and operating a business focused on project management services for painting and home maintenance solutions. While direct, day-to-day personal participation by the owner is recommended, franchisees have the option to hire an approved Designated Manager or even an Executive Manager to oversee operations. Regardless, the franchisee and any designated managers must successfully complete Lime Painting's Initial Training Program.
Industry Experience Required
No
Management Experience Required
No
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
Hybrid
Owner Participation
Hands-On
Territory Type
Exclusive
Staff Count
3
Territory Size Requirements
Lime Painting territories are defined based on a radius or other geographic area around the approved business premises. The specific size and boundaries of a territory are determined by Lime Painting at its discretion, taking into account factors such as location and demographics. Territories may be described using zip codes, streets, natural or man-made landmarks, county lines, or be outlined on a map. If based on population or the number of potential clients, Lime Painting uses territory mapping software or publicly available data from sources like the U.S. Census Bureau.
Staffing Notes
Lime Painting requires that the franchised business always has at least one individual on staff who has successfully completed the entire Initial Training Program. This individual, whether the franchisee or an approved Designated Manager, must be responsible for managing the business operations. If an Executive Manager is hired to oversee Designated Managers, they also must complete the Initial Training Program. The franchisee or a fully trained staff member is responsible for training all other employees on sales, advertising, system use, and all operational standards. Lime Painting does not control hiring or firing decisions for franchisee employees.