I looked into buying a chips away franchise once. The smart paint systems are very good. They will only look to paint the bare minimum of area. They will sand out the scratch , prime, rub back, a few colour coats, rub back and clear lacquer. They often carry portable UV lamps to dry the paint between coats. The paint is applied with a air brush or similar. Normally the boys are mobile van units and they do most of the trade work these days. They will spend a day or two each week at regular traders or main dealers taking out scratches or repairing chipped alloys.
The main difference is they paint the minimum, conventional painters will want to do a full panel hence why the main dealers use the paint shop for crash repairs and smart painters for everything else.
Only issue as stated before could be colour match as its a red car and whether the car has faded. "Chips away" took out a big vandal scratch on my red 3 series and it came out great. I guess being a GTV cup you probably polish it more than some so the fading may not be a problem.