When is the payment due for optional modules purchased for an Extreme Art Studio franchise?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
| Type of Fee(1) | Amount | Due Date | Remarks |
|---|---|---|---|
| Optional Modules | $10,000 to $20,000 depending on the module | At the time you sign the sign the Module Amendment | In addition to the standard franchise offering, franchisees have the option to purchase up to three different curriculum Modules. These modules are designed to expand the range of services you can offer to your customers and can be offered in classes, camps, workshops parties and events. See Item 5 for more information on the optional Modules. |
Source: Item 6 — OTHER FEES (FDD pages 13–18)
What This Means (2024 FDD)
According to Extreme Art Studio's 2024 Franchise Disclosure Document, if a franchisee chooses to purchase optional modules to expand their service offerings, payment for these modules is due at the time the franchisee signs the Module Amendment. The cost of these optional modules ranges from $10,000 to $20,000, depending on the specific module selected.
These modules are designed to allow franchisees to offer a wider array of services to their customers, including classes, camps, workshops, parties, and events. This provides an opportunity for franchisees to increase their revenue streams and attract a broader customer base. Item 5 of the FDD provides further details about these optional modules.
It is important for prospective Extreme Art Studio franchisees to carefully consider the costs and benefits of purchasing these optional modules. While they can enhance the business's offerings, franchisees should evaluate whether the potential increase in revenue justifies the upfront investment required at the time of signing the Module Amendment.