Multi-Unit Franchise Experts

Franchise Evaluator™: LIME Painting

LIME Painting is a distinguished residential and commercial painting company renowned for its commitment to excellence in every brushstroke. An acronym for Love, Integrity, Mission, Excellence, the painting franchise focuses on quality preparation, premium products, customized results, and lasting impressions. LIME Painting takes pride in transforming spaces into visually stunning and structurally sound masterpieces.

Choosing LIME Painting ensures clients have a seamless and stress-free experience. The dedicated team is committed to making the painting process easy, enjoyable, and refreshing. From inception to completion, LIME Painting stands by clients every step of the way, ensuring projects are executed to perfection and satisfaction. 

LIME Painting Franchise at a Glance

Corporate Address

LIME Painting 4950 S Yosemite St F2 Unit 171 Greenwood Village, CO 80111

Year Founded: 2014
Year Started Franchising: 2018
Business Description:
LIME Painting Franchise is a values-based, high-end service provider specializing in painting, coating, surface restoration, and contracting. Their commitment is to establish a high standard in client relations by consistently delivering exceptional services and a superior customer experience. LIME pairs clients seeking quality with skilled artisans in their local market. Uniquely, they exclusively focus on high-end homes and businesses, targeting those within the top 30% of the market valuation.

Recognizing that high-end properties often require more than a simple coat of paint, the company offers over 40 distinct services while educating clients on options to maximize their investment value. LIME is looking for empire builders passionate about customer service and connecting with the community. This is a home-based, semi-absentee business – no painting experience necessary! 

MARKET Factors

1

What population does the brand serve? Is the market broad, niche, or somewhere in-between?

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Market Size

LIME Painting Franchise is part of the $400 Billion Luxury painting, coatings, and surface restoration industry. The current market is saturated with painting franchise opportunities, but LIME does not compete with these concepts at the lower end of the painting market. LIME Painting is the only painting franchise that focuses solely on high-end homes and businesses that are valued within the top 30% of the market. This segment delivers the most value to franchisees and high-end luxury homeowners alike.

9

We categorize the market size as a large market.

Scale

Small to Large Market Size
2

Is the overall industry growing, that is creating new customers who have never used these services before, or mature where most population segments are already using these types of products and services?

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Industry Trend

The painting industry is undergoing several notable trends. There is an apparent movement toward sustainability, with an increasing emphasis on eco-friendly practices and the use of low-VOC paints. Digital tools are becoming integral, offering benefits such as virtual color matching, online project management, and 3D visualization. Specialized finishes, smart coatings, and a focus on customization also shape the industry, allowing for more personalized and unique solutions. 

LIME Painting has been meticulously crafted to deliver a consistent and reliable service, ensuring an easy, enjoyable, and refreshing customer experience. Well-executed and aesthetically pleasing job sites serve as excellent sales tools. Complementing this, LIME utilizes state-of-the-art Sales and Project Management Software known as LIMEWare. This advanced technology platform serves as a centralized hub for all aspects of owning and operating a LIME franchise. 

8

We categorize the Industry Trend as high growth trend.

Scale

Low to High Growth Trend
3

What drives the purchase of the product or service? Is it a “need-to-buy” or a “want-to-buy”? How are customers drawn to your business?

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Product and Service Drivers

LIME Painting is the only painting franchise to serve the high-end, luxury paint market, which means LIME franchise owners have virtually no competition outside of independent painting contractors that may say “high-end” but quite often do not deliver. LIME Painting distinguishes itself in the painting industry through a unique and tech-driven strategy, prominently featuring “The Big Four Tech Stack.” Notably, the company achieves an average ticket that is four times higher than the industry average, signaling its ability to cater to the top 30% of home values and emphasizing a commitment to delivering premium services tailored to high-value properties. 

LIME Painting’s differentiation extends to its approach to estimating services and proposal building, facilitated directly by the franchisor, streamlining customer interactions and enhancing the quoting process for improved efficiency and accuracy. The company’s leverage of partnerships with national suppliers highlights its dedication to quality and accessibility, providing a competitive edge in material sourcing. 

LIME Painting’s proprietary sales systems contribute further to its distinctiveness, ensuring a sophisticated and practical approach to client engagement. With robust recruiting support and a streamlined subcontractor model, LIME Painting stands out as a tech-savvy industry leader, consistently delivering exceptional value and service throughout the customer experience.

10

We categorize the product and service drivers as mid to high drivers.

Scale

Low to High Drivers
4

Are competitors a major factor in operating your business? If so, is competition sparse or saturated? Will it matter to your business?

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Competitive Climate

LIME Painting operates in the $400 Billion Luxury painting, coatings, and surface restoration industry. There is little to no competition from franchised painting and home service concepts that target the top end of the luxury painting market. There could be potential competition from various sources, including other businesses, national chains, and independently owned companies that may offer comparable products or services to the broad customer base. Competition from other franchises operating within the same market segment and serving LIME’s target customers is unlikely. 

In the realm of high-end luxury painting and contracting, there exists a notable underservice within the market. LIME’s focus is primarily on properties valued in the top third of a given market, reflecting a commitment to delivering excellence in upscale residential and commercial spaces. 

Finding good quality workers and subcontractors can be difficult, but LIME Painting is a premium brand that works only with high-end property owners. These customers view price in terms of value and not the bottom line. Typically, the consumers LIME works with are looking at an extensive scope of work to achieve a quality outcome, and therefore, they are willing to pay for it. In return, LIME pays its subcontracted crews more than other painting companies in the market, which makes LIME an attractive company to work for.

10

We categorize the competitive climate as low-mid competitive pressure.

Scale

Low to High Competition
5

Are the business’s products or services regulated, or do they require licensing? Will you or your employees require special licensing? If so, is the regulatory climate strict or lax? Will this affect recruiting employees?

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Regulatory Climate

Governing authorities in most states and local jurisdictions implement a range of laws, rules, regulations, and ordinances. These legal frameworks cover various aspects, including general standards for the construction, design, and maintenance of business premises; regulations concerning customer health, safety, and welfare; standards for employee health and safety; provisions for disabled persons’ accommodations, fire safety, emergency preparedness, and licensing and permit requirements for installation services as a contractor. 

It is advised that you check with local and state governments for specific requirements for painting contractors in your area.

When embarking on an entrepreneurial journey, LIME Painting recognizes and understands the importance of support. Many emerging brands lack a high level of expertise and experience, but at LIME, a robust executive team is in place to facilitate onboarding, training, and support for franchise owners. The team’s collective experience extends to some of the world’s largest brands, accumulating decades of valuable expertise.

9

We categorize the regulatory climate as low regulation.

Scale

Low to High Regulation

MODEL Factors

1

This is one of the most important factors of all. To understand it you have to look beyond what the business physically does, the services performed or products sold and ask how does the franchise make money? Where does the revenue come from? How is it generated? Are financial performance representations made? Coupled with External Factors 1, 2 and 5 – Market Size, Industry Trend and Competitive Climate and the next Internal Factor 2, Franchisee Role – the true nature of the franchise starts to take shape.

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Revenue Model

Recognizing that paint is just one among various coatings for a property, LIME employs numerous coating systems and, when necessary, conducts surface restoration before the application of coatings. With a portfolio of 40 revenue streams encompassing painting, coatings, and surface restoration, the company provides comprehensive solutions for high-end homeowners and businesses, ensuring the maintenance of impeccable interiors and exteriors. 

As stated previously, LIME Painting only targets the top 30% of home values in any given market where purchasers may be less sensitive to price, and equate price with value. LIME Painting achieves an average ticket that is four times higher than the industry average

9

We categorize the Operational Model as Simple.

Scale

Simple to Complex Model
2

How developed are the systems on which you will rely to operate your business?

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Operational Systems

Operating on a low-cost, low-overhead model with a swift ramp-up process, franchise owners of LIME can commence their businesses with an investment ranging from $125.7K to $202K. Initial operations for owner-operators do not necessitate hiring employees, as subcontracted crews efficiently handle all projects. These crews take charge of the entire inventory, including paint and equipment, thereby minimizing overhead expenses.

The unique advantage of being a home-based business is that it enables a quick ramp-up time, typically ranging from 40 to 90 days after the signing of an agreement. In this streamlined approach, qualified semi-absentee owners are only required to focus on hiring for three key roles: sales, production, and general manager.

LIME’s innovative subcontractor partnership model alleviates the challenges associated with managing employees. Franchise owners are guided through a comprehensive training program, teaching them how to qualify, partner, onboard, and retain subcontractors effectively. The success of this approach is evident in the opening of 30+ franchise partners across 20+ states. The process resonates particularly well with artisans, drawn to the consistency of high-end projects that LIME offers week after week, with the added benefit of the company managing the entire project for them.

LIME utilizes state-of-the-art Sales and Project Management Software known as LIMEWare. This advanced technology platform serves as a centralized hub for all aspects of owning and operating a LIME franchise. 

9

We categorize the Operational Systems as Comprehensive.

Scale

Basic to Comprehensive
3

In this highly diffuse world, creating, managing and projecting a Brand is essential for the health and vitality of a franchise system. How well does the Franchisor manage this? How well positioned is the brand among competitors? Is it differentiated enough? How well would potential customers recognize the brand? How is it projected into new markets? What is your role and obligations in this process? How is the Brand’s digital footprint managed?

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Brand Management

LIME Painting effectively manages its brand through a combination of unique differentiators that set it apart in the industry. As the nation’s first and only franchised luxury painting company, LIME emphasizes core values of Love, Integrity, Mission, and Excellence, creating a distinctive identity that resonates with both customers and artisan subcontractors. The brand has earned recognition with multiple awards, further establishing its credibility and excellence. 

Utilizing advanced Customer Relationship Management (CRM) technology, LIME ensures seamless interactions across multiple facets of its operations, enhancing customer experiences. With an average ticket price that is four times higher than the industry average, LIME strategically targets the top 30% of home values in its market segment, reinforcing its commitment to delivering premium services. 

Leveraged partnerships further fortify LIME’s brand strength with national suppliers such as Sherwin Williams, Benjamin Moore, and PPG, who not only provide quality products but also offer local hands-on support to franchise locations. Proprietary sales systems and robust recruiting support, which includes fully vetted and educated applicants, contribute to the overall management and success of the LIME Painting brand.

8

We categorize the Brand Management as High Engagement.

Scale

Low to High Engagement
4

What role is the franchisee expected to play in starting, ramping and the ongoing operation of the business?

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LIME Painting Franchisee Role

Franchise owners at LIME Painting thrive without the need for prior painting or contracting experience. Emphasizing a robust management background, owners dedicate their time to running and overseeing the business, requiring a genuine love for people and a commitment to delivering exceptional customer service. In the owner-operator role, individuals actively participate in daily operations without directly engaging in painting or other services. Responsibilities encompass estimating, project booking, lead generation, brand building, networking, sales, hiring, and management of subcontracted crews, project oversight, scheduling, customer interaction, administrative tasks, and local marketing initiatives, contributing to the overall brand building. 

On the other hand, qualified semi-absentee owners assume leadership positions by hiring a general manager, salespeople, and production coordinator to manage day-to-day operations. Their tasks include ensuring the team follows the LIME Business Growth Blueprint, reviewing data and profit and loss statements proactively, handling administrative responsibilities, and taking charge of recruiting, training, coaching, and team-building efforts. This flexibility in roles allows franchisees to align their involvement with their preferences and expertise while adhering to the successful LIME business model.

9

We categorize the Franchisee Role as Business Manager.

Scale

Service Executor to Business Manager Role
5

What type of location, if any, is needed to deliver the product or service? If real estate is needed, are the requirements flexible or stringent? Is real estate essential to the product or brand experience or required for services to be performed onsite?

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Real Estate Needs

For a LIME Painting franchisee, real estate needs align with the unique characteristics of the business model. As a home-based enterprise, there is no requirement for a build-out or office space, providing flexibility and cost-effectiveness. The typical location thrives in affluent urban and suburban markets, strategically targeting high-end homes and businesses.

LIME Painting’s success is intricately tied to its ability to cater to the high-end range within these markets. Also, franchisees benefit from territory protection, ensuring exclusive access to at least 6,000 high-end homes within their specific market. The protected territory sizes are dynamic, adapting to the varying demographics and demands of each distinct area, allowing franchisees to capitalize on a lucrative segment while enjoying territorial exclusivity.

10

We categorize the regulatory climate as basic need.

Scale

Basic to Essential Needs

ORGANIZATION Factors

1

How experienced is the franchisor at being a franchisor?

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Franchising Experience

Nick Lopez, Founder & CEO of LIME, brings a wealth of expertise in business marketing, sales, and process creation to the franchising experience. With a professional background steeped in these areas, Nick has cultivated and refined a groundbreaking business model that addresses the underserved high-end paint space, delivering top-notch home improvement services. His commitment to excellence has remained unwavering throughout LIME’s growth. 

Despite the company’s growth, Nick remains a hands-on and active founder, maintaining accessibility to both franchise owners and the dedicated support team that comprises LIME.

10

We categorize the Franchising Experience as Extensive.

Scale

Limited to Extensive
2

What is the tenure, background, and commitment of the franchise’s leadership?

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Franchise Leadership

LIME Painting’s leadership team is spearheaded by Johnny Grohol, the Vice President of Operations, who architects the company’s support infrastructure alongside visionary Nick Lopez. Johnny, a construction management expert, builds strong relationships with franchise owners and ensures collaboration with the Franchise Advisory Council. 

Jim Ward, the Sales Director, leverages his expertise to provide hands-on training to new owners, emphasizing the LIME Way in client and subcontractor interactions. Jade Nguyen, the Director of Finance and Administration, is the glue at LIME, supporting new owners and contributing to the company’s success with her enthusiasm for prosperity. Together, they embody LIME’s commitment to excellence and values, creating a dynamic leadership core.

10

We categorize the Franchising Leaders as Highly Experienced.

Scale

Limited to Highly Experienced
3

How often and how well does the franchisor engage franchisees? What assistance is provided in starting and operating your business.

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Franchisee Engagement

Franchisee engagement at LIME Painting is tailored to the roles of Owner/Operators and Qualified Semi-Absentee owners, each contributing uniquely to the business’s success. 

Owner/Operators actively participate in day-to-day operations without directly engaging in painting or other services. Their tasks encompass a comprehensive range, including completing estimates, booking projects, generating leads, brand building, networking, sales, hiring and managing subcontracted crews, overseeing daily projects, scheduling appointments, interacting with and educating customers, administrative duties, and actively engaging in brand building and local marketing initiatives.

On the other hand, Qualified Semi-Absentee owners assume a leadership role by hiring a GM, Salespeople, and a Production Coordinator. Their responsibilities involve ensuring the team follows the LIME Business Growth Blueprint, reviewing data and profit and loss statements proactively, handling administrative duties, and leading efforts in recruiting, training, coaching, and team building. This multi-faceted engagement model allows franchisees to align their involvement with their preferences and expertise while adhering to the successful LIME business model.

8

We categorize the Franchisee Engagement as Highly Engaged.

Scale

Low to Highly Engaged
4

In what kind of financial shape is the franchisor?

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Financial Health

LIME Painting stands out with robust financial health, offering franchisees unlimited potential for strong returns. In 2022, a corporate territory demonstrated impressive gross sales of $1,597,082, with a net EBITDA of $264,646. The low-cost entry further emphasizes the financial appeal, as franchise owners can commence their business with an investment ranging from $125.7K to $202K. 

Notably, the initial phase for owner-operators doesn’t require hiring employees, as all projects are efficiently handled by subcontracted crews, significantly minimizing overhead costs. With a home-based business model, franchisees can experience a quick ramp-up, typically within 40-90 days after signing an agreement. For semi-absentee owners, the hiring focus is streamlined to three critical roles: sales, production, and general manager, ensuring efficient operations and financial success.

*for more information see the latest LIME Painting Franchise Disclosure Document

8

We categorize the Financial Health as Sound.

Scale

Weak to Sound Financial Health

Key Points

Investment Range
$125,700 – $201,075
Initial Franchise Fee
Single = $60,000
Financial Performance Representation

Yes

Locations

80

Home Based
Yes
Royalty Fee

7%

Average Number of Employees
0
Veteran Discount
Yes
Passive Ownership
Yes
Visa Candidates
No

Total Franchise Evaluator Score

127
0 – 24

Missing fundamental, internal or external factors

25 – 49

More investigation is needed

50 – 74

Worth exploring further with caution

75 – 99

Add to consideration set

100 – 140

Sound opportunity and likely a great fit

Learn more about LIME Painting.

Meet with one of our experts for guidance and to answer any questions you have regarding LIME Painting.