What is the maximum estimated cost for optional modules for an Extreme Art Studio franchise, and when is it due?
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 | ||||
| F |
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 18–23)
What This Means (2024 FDD)
According to Extreme Art Studio's 2024 Franchise Disclosure Document, the estimated high cost for optional modules is $47,250. This amount is due in a lump sum upon signing the Franchise Agreement.
These optional modules are not mandatory, as the low estimate for this expenditure is $0, representing a scenario where no optional modules are purchased. The decision to invest in these modules will likely depend on the franchisee's business strategy and financial situation.
Prospective franchisees should refer to Item 5 of the FDD for more information about what these optional modules entail. Understanding the potential benefits and costs associated with these modules is crucial for making an informed investment decision when starting an Extreme Art Studio franchise.