To whom are payments for furniture, fixtures, and equipment made when opening 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, |
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 payments for furniture, fixtures, and equipment are made to approved suppliers. The estimated cost for these items ranges from $9,500 to $15,000. These expenses will depend on factors such as the size of the studio, shipping distances, the chosen supplier, and the franchisee's credit history.
It is important for prospective Extreme Art Studio franchisees to carefully consider these costs and to select suppliers that meet the brand's standards and specifications. Franchisees should also confirm whether these expenses are non-refundable with the suppliers.
These figures are estimates, and the actual costs may vary. It is advisable to obtain quotes from multiple approved suppliers to ensure competitive pricing and to factor in potential variations based on specific studio requirements and local market conditions.