Can I open multiple studios?
Yes. In fact, we encourage it. Multi-studio ownership has the potential to double (or more) income. The expense and learning curve of starting a paint and sip business decreases significantly with each additional studio. Assuming a shared geographic area, multi-studio ownership saves costs in many ways: lower advertising fees per location, discounts on bulk supply orders, and the ability to share staff, storage space and supplies between locations.
To open additional studios, loan officers expect the first unit to be profitable enough that its cash flow can cover the second location’s monthly loan payment. There are exceptions to this rule depending on the franchisee’s financial situation and ability to prove the success of his or her business model. To read a few more FAQs about multi-unit franchise ownership, check out this article.