What is the initial franchise fee for a single Extreme Art Studio Business?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
[Item 5: INITIAL FEES]
| Franchise Type | Number of Extreme Art Studio Businesses | Initial Franchise Fee |
|---|---|---|
| Single Extreme Art Studio Business | 1 | $45,000 |
| Standard 2 Franchise | 2 | $80,000 |
| Standard 3 Franchise | 3 | $110,000 |
During our last fiscal year, ended December 31, 2023, we did not collect any Initial Franchise Fees.
Veteran Discount
Veterans of the United States armed services will receive a 10% discount on the Initial Franchise Fee. The Initial Franchise Fee is uniform (other than discounts for Veterans), earned by us when paid, and is not refundable.
Source: Item 5 — INITIAL FEES (FDD pages 11–13)
What This Means (2024 FDD)
According to Extreme Art Studio's 2024 Franchise Disclosure Document, the initial franchise fee for a single Extreme Art Studio Business is $45,000. This fee is payable when you sign the Franchise Agreement. Notably, Extreme Art Studio did not collect any Initial Franchise Fees during their last fiscal year, which ended December 31, 2023.
For veterans of the United States armed services, Extreme Art Studio offers a 10% discount on the initial franchise fee. This discount makes the initial fee $40,500 for eligible veterans. The initial franchise fee is generally uniform, except for this veteran discount, and is considered earned by Extreme Art Studio upon payment, meaning it is non-refundable.
In addition to the initial franchise fee, prospective franchisees should be aware of other fees that may be required before opening. These include costs for branded opening supplies and inventory, which are estimated to range from $4,500 to $5,500, as well as implementation fees for database management software ($1,500) and class registration software ($500). There is also a monthly technology fee of $400, starting the second month after signing the Franchise Agreement. These additional costs should be factored into the total initial investment when considering an Extreme Art Studio franchise.