To whom are payments for an architect made when opening an Extreme Art Studio?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
| Type of Expenditure (1) | Amount | Method of Payment | When Due | To Whom Payment is to be Paid(1) | |
|---|---|---|---|---|---|
| Low | High | ||||
| Architect(19) | $5,000 | $12,000 | As Incurred | As Incurred | Approved Suppliers |
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, payments for architect fees, which range from $5,000 to $12,000, are made to approved suppliers. These fees are typically incurred as the services are rendered during the studio design and build-out phase.
The FDD notes that this estimate covers a standard four-page plan for the studio. Should the studio require additional pages, franchisees may incur additional fees. These architectural plans are a key part of the expenses associated with designing and building out the studio, including plumbing, electrical, and remodeling work.
Prospective Extreme Art Studio franchisees should confirm which suppliers are approved by the franchisor and factor in potential variations in architect fees based on the specific requirements of their studio location. Understanding the scope of the standard plan and potential for additional costs is crucial for accurate budgeting.