Richard’s Painting Franchise
Audited FinancialsRisk Score
Pending analysis
Investment Range
$60,150 - $144,550
Franchise Fee
$5,000
Min Cash Required
$10,000
Total US Locations
22
Business Summary
Richard's Painting offers premium quality, high-end residential and commercial painting services, pressure washing, and related services and products. Richard's Painting businesses can initially operate from a home-based administrative office, with the expectation to transition to a non-retail commercial facility as the business grows to support back-end operations, vehicle parking, and supply management. Services are exclusively provided on-site at customer locations using branded service vehicles within a designated operating territory.
Corporate History
RPG Franchising, LLC was established as a North Carolina limited liability company in November 2018 and began offering Richard's Painting franchises in January 2019. The brand's licensed marks are owned by an affiliate, Richard's Painting Co, LLC, which was established in May 2013 and operates Richard's Painting businesses similar to the franchised units in North Carolina and Tennessee.
Financial Overview
Investment Range
$60,150 - $144,550
Franchise Fee (Low)
$5,000
Franchise Fee (High)
$75,000
Minimum Cash Required
$10,000
Royalty %
5%
Marketing %
1%
Equipment Costs (Low)
$1,500
Equipment Costs (High)
$3,000
Working Capital
$17,500
Audited Financials
Yes
Offers Financing
Yes
Audit Opinion
Unqualified opinion
Financial Health Notes
The franchisor's financial condition, as detailed in its financial statements, raises questions about Richard's Painting's ability to consistently provide services and support to its franchisees.
Financing Details
Richard's Painting may offer direct financing for the initial franchise fee, though it is not obligated to do so. The current financing terms include an amount of $34,950 with a $5,000 down payment. The loan term can be up to three years, with a 5% APR interest rate or the highest rate allowed by law, and no finance charges. Monthly payments are $1,019.37, and there is no penalty for prepayment. This financing requires a personal guarantee and a security agreement, securing the Richard's Painting business assets. Default may lead to franchise termination, acquisition of assets, acceleration of all amounts due, and liability for legal fees and costs. Franchisees also waive certain legal rights upon default.
Performance Metrics
Total US Locations
22
Franchised Units
21
Corporate Units
1
Franchising Since
2019
Legal & Compliance Analysis
Recent Litigation
Yes
Bankruptcy
No
Litigation Count
1
Litigation Summary
RPG Franchising, LLC has had one legal matter to report. In 2024, Richard's Painting entered a Consent Order with the State of Washington, Department of Financial Institutions, Securities Division. This action was taken because Richard's Painting sold a franchise territory in Washington after applying for registration but before the process was finalized. The Consent Order required RPG Franchising, LLC and its agents to cease violating Washington's Franchise Investment Protection Act and to pay $1,000 for the investigation's cost. Richard's Painting reports no other litigation.
Bankruptcy History
Richard's Painting has no bankruptcy history to report for the franchisor or its key personnel.
Agreement Terms
Initial Term
10 years
Renewal Term
10 years
Renewal Conditions
To renew their Richard's Painting franchise, franchisees must be in full compliance with their current Franchise Agreement and all related agreements. They need to provide Richard's Painting with written notice between 180 and 270 days before their current term expires. Renewal also requires signing the then-current form of the Franchise Agreement and associated agreements, signing a general release in Richard's Painting's favor, and paying a renewal fee. Franchise owners and their spouses must also guarantee the new agreement, which may have materially different terms. Franchisees must demonstrate their ability to continue operating the business within their territory, ensure their administrative office meets current standards, and complete any required maintenance, upgrades, and additional training.
Training & Support Program
Franchisor Assistance
Richard's Painting provides a range of assistance to its franchisees. Before opening, Richard's Painting grants the franchise, reviews and approves the operating territory, and provides access to its confidential operations manuals, lists of approved suppliers, and guidance on signs, equipment, furniture, and fixtures. Richard's Painting also identifies and lists the franchisee's business on its website and provides initial training for the managing owner and one manager. After opening, Richard's Painting communicates operating standards, marketing standards, and approved vendor lists. It may also coordinate an annual system conference, offer supplemental training (for a fee), and provide initial training for replacement operating managers. Richard's Painting also administers system-wide marketing funds.
Initial Training Hours
74
Training Location
Salisbury, North Carolina or Franchisee's location
Ongoing Support
After opening, Richard's Painting provides ongoing support by establishing and communicating updated operating standards, marketing standards, and lists of approved vendors for products and supplies. Richard's Painting may coordinate an annual System Conference that franchisees are required to attend. It also offers supplemental training for franchisees or their operating managers if requested or deemed necessary, for which a fee applies. Training for replacement operating managers is also available for a fee. Richard's Painting also administers system-wide marketing funds, including the Brand Development Fund and potential Advertising Cooperatives. Richard's Painting does not assist with employee hiring or training.
Franchise Requirements
Ideal Candidate Profile
Richard's Painting looks for a managing owner who holds at least 25% of the franchise's ownership and is personally responsible for the daily management and supervision of the business. This managing owner must dedicate full-time efforts to the operation, successfully complete initial training, and secure all necessary licenses and permits. While an operating manager can be hired to manage daily operations, they must also meet Richard's Painting's standards, complete training, and sign confidentiality and non-competition agreements.
Industry Experience Required
No
Management Experience Required
Yes
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
Hybrid
Owner Participation
Full-Time
Territory Type
Protected
Territory Size Requirements
Richard's Painting territories are generally defined by a 10-mile radius from the franchisee's administrative office, though this radius may be smaller depending on population density, demographics, and geographical boundaries. A typical operating territory includes a population of up to 250,000 people. If additional territories are purchased, each additional territory will consist of approximately 150,000 people, with population calculated based on raw data.
Staffing Notes
Richard's Painting franchisees are solely responsible for hiring, training, and supervising their employees, as the franchisor does not provide assistance in this area. All employees must wear approved branded uniforms and ensure that all services and products comply with System standards. The business must be managed by a Managing Owner who is actively involved full-time. If an Operating Manager is hired, they must meet Richard's Painting's standards, complete initial training, and sign confidentiality and non-competition agreements. All employees with access to confidential information must also sign a confidentiality agreement.