What is the estimated low and high cost for initial training expenses for an Extreme Art Studio?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
INVESTMENT
| Type of Expenditure (1) | Amount | Method of Payment | When Due | To Whom Payment is to be Paid(1) | |
|---|---|---|---|---|---|
| Low | High | ||||
| Initial Franchise | $45,000 | $45,000 | Lump sum | Upon signing Franchise | Us |
| Fee(1) | Agreement | ||||
| Furniture, Fixtures, | $9,500 |
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 18–23)
What This Means (2024 FDD)
According to the 2024 Extreme Art Studio Franchise Disclosure Document, the estimated initial training expenses range from $2,000 to $3,000. These expenses cover the costs associated with sending two individuals to the initial training program, including airfare, hotel accommodations, and meals. Extreme Art Studio does not charge a fee for the initial training program itself or for the initial on-site assistance.
If a franchisee elects to send additional attendees to the initial training program or on-site assistance, they will incur a fee of $200 per attendee per day, in addition to covering their travel-related expenses. The estimates provided do not include any salary or wages that the franchisee may pay to their trainees during their time in training. Extreme Art Studio is only obligated to provide the initial training program for the first Extreme Art Studio location that a franchisee opens.
Prospective franchisees should factor these training expenses into their initial investment calculations. It is important to note that these are estimates, and actual costs may vary depending on factors such as travel arrangements and accommodation choices. Franchisees should also consider whether they want to send more than two individuals to the training, as this will increase their expenses.