LIME Painting Franchise Costs, Fees, Profit and Data

LIME Painting aims to set itself apart in the home improvement and painting industry by catering to only high-end and affluent residential and commercial customers. Does it pay off?

REPORTED COST TO GET IN: $124,700 to $162,375

REPORTED ROI (Item 19): $110,109 (Average Gross Sales Less Total COGS, Total Disclosed Operating Costs and Total Estimated Fees)

LIME Painting is a painting franchise that offers high-quality services for luxury homes and businesses, taking a values-driven approach encapsulated by Love, Integrity, Mission and Excellence (LIME).

Company history

After discovering his passion for home improvement while owning his first painting company, Nick Lopez founded LIME Painting in 2013 to set the standard of excellence in painting high-end residential and commercial properties. After fine-tuning his business model for five years, Lopez ventured into franchising, aiming to deliver premium interior and exterior painting, coating and other restoration services.

Today, LIME Painting has expanded its footprint to over 90 locations across more than 21 states, with ambitious plans for continued growth across all 50 states. This expansion follows a successful 2023, which saw the addition of 7 new franchisees and 14 new units.

LIME Painting was recently awarded Franchise Business Review's Top Franchises Satisfaction Award. The brand was also recognized in Entrepreneur's 2023 Franchise 500 Ranking, Entrepreneur's Top New and Emerging Franchises for 2023 and ranked #1 in Denver Business Journal's 2023 Fast 50 Awards.

Business model

LIME Painting franchisees operate a painting business that only targets the top 5% of high-end homes and businesses. This, according to the brand, leads to an average job ticket “three times the industry average.”

LIME Painting operates on a moderately low overhead and boasts a particularly quick ramp-up time of only 30-90 days. Technology is also a key driver of the business model, with the brand’s proprietary tech stack LIMEWare helping franchise owners manage their businesses efficiently.

The LIME Painting 2022 FDD and Item 19 discloses certain historical performance results generated by the two affiliated businesses and five franchised businesses that were open and operating throughout the 2021 calendar year:

Part 1 – Gross Sales Generated by Each Affiliate Business Over Each Measurement Period and Combined/Total Gross Sales Generated from Combined Operations in Each Calendar Year of Operations

Financial performance

Part 2 – Total Gross Sales as Well as Total COGS, Total of Certain Operating Expenses, and Total Estimated Fees Incurred in Connection with the Combined Operations of the 2 Affiliate Businesses Over Calendar Year 2021

Part 3 – 2021 Average Gross Sales as Well as Reported COGS, Certain Operating Expenses, and Adjusted Fees Incurred in Connection with the Franchised Locations That Were Actively Open and Operating Throughout the 2021 Calendar Year

Part 4 – Charts Detailing Information Regarding Client Project Invoice Amount Amongst the 2 Affiliate Businesses Based on Their Combined Operations in Calendar Year 2021

• Highest Project Invoice Reported: $57,973

• Percentage of Total Projects Less Than $10,000 in Gross Sales: 54%

• Percentage of Total Projects Between $10,000 and $20,000: 34%

• Percentage of Total Projects Over $20,000: 12%

Part 5 – Charts Detailing Information Regarding Client Project Invoice Amounts and Project Mix by Each Disclosed Franchised Location Over the 2021 Calendar Year

Average of 5 Franchised Businesses

• Total Projects Invoiced: 63

• Average Client Project Invoice: $10,942

• Median Client Project Invoice: $7,998

• Lowest Project Invoice Reported: $760

• Highest Project Invoice Reported: $64,228

• Percentage of Total Projects Less Than $10,000 in Gross Sales: 62.4%

• Percentage of Total Projects Between $10,000 and $20,000: 27.6%

• Percentage of Total Projects Over $20,000: 6.0%

LIME Painting franchise costs, based on Item 7 of the company’s 2022 FDD:

• Initial Franchise Fee: $60,000

• Initial On-Site Training Fee: $7,000

• Travel Expenses to Corporate Training: $2,000 to $3,000

• Start-Up Package: $1,500 to $3,000

• Mobile Unit and Vehicle Wrap Package: $6,000 to $8,500

• Initial Technology Package (Including Pre-opening Technology Fees): $10,000

• Technology Fee(s) – 3 Months Following Initial Launch/Opening: $2,700

• Initial Marketing Spend: $10,000 to $20,000

• Digital Marketing Requirement – 3 Months Following Launch/Opening of Business: $4,500

• Licenses and Certifications: $250 to $675

• Insurance Premium – First 3 Months of Operation: $3,500 to $5,000

• Professional Fees: $2,000 to $3,000

• Additional Funds – 3 Months: $15,250 to $35,000

• Total Estimated LIME Painting Franchise Costs: $124,700 to $162,375

The franchise fee required to open a LIME Painting franchise is $60,000.

• Nick Lopez - Founder & CEO

• Dustin Kosterow - Director of Franchise Development

• Erica Sicre - Franchise Business Coach

• LIME Painting Reflects the Past Year and Looks Forward

• LIME Painting Named a 2024 Top Franchise

• This Phoenix Entrepreneur Thrives with LIME Painting

• Tyler Fuss of LIME Painting Awarded Franchisee of the Year by International Franchise Association

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