In this FDD Talk 2015 post, you’ll learn the following:
- Section I – Background information on the Painting with a Twist franchise opportunity, including relevant news updates
- Section II – Estimated initial investment for a Painting with a Twist franchise, based on Item 7 of the company’s 2015 FDD
- Section III – Presentation and analysis of Painting with a Twist’s financial performance representations, based on Item 19 of the company’s 2015 FDD, including information on the:
- 2014 average, median, high, and low gross revenue for the top third, middle third, bottom third, and all 78 Painting with a Twist franchisees that (i) were open during the entire Measurement Period; (ii) met their required minimum local advertising spend; and (iii) provided the franchisor with the required profit and loss information containing the data to be included in Item 19
- percentage growth between 2013 average annual gross revenue for reporting franchisees and 2014 average annual gross revenue for reporting franchisees
- 2014 average artist pay, operating supplies, and rent for the 78 Painting with a Twist franchisees in the sample
Section I – Background Information
By now you’ve probably heard about the “paint and sip” phenomenon where people come together to enjoy wine in the company of friends and learn how to paint at the same time. Painting with a Twist, however, is one of the pioneers in this growing market.
It was back in 2005, after Hurricane Katrina, when Cathy Deano and Renee Maloney (both deeply and personally affected by the disaster in Louisiana) wanted to come up with a way to help their storm-ravaged communities recover. Their idea was a de-stressing combination of friends, wine, and painting, so they launched Corks N Canvas in 2007. Two years later with four locations around New Orleans, they could see the larger potential, so they started franchising after changing the name to Painting with a Twist.
They wanted to keep prices reasonable, in the $35-$45 range, so it was a strictly “bring your own wine” approach, while the store supplies everything else to teach participants step-by-step how to paint one of 3,500-plus copyrighted pieces of art that make up the company’s pool of starter images.
Headquartered in Mandeville, Louisiana, there are now more than 247 Painting with a Twist locations throughout the United States, and the chain has seen more than 3.5 million works of art produced by customers at its locations.
Here’s how Painting with a Twist keeps the wine and creativity flowing for its customers:
Based on the introduction above, you may be wondering about the chain’s huge collection of copyrighted pieces of art used in the store. The chain employs real artists as the in-store instructors, which means each example work of art was created by these rising artist instructors, making Painting with a Twist the largest employer of aspiring artists in the nation.
They took great care in producing works that would be easy for novice painters to reproduce and yet have great visual impact.
Painting with a Purpose
Co-founders Cathy and Renee were both fundraisers before they became entrepreneurs, and given the fact that it was a natural disaster that spurred their business idea, they take charitable involvement in the community very seriously.
From this passion was born the Painting with a Purpose concept, which is a monthly fundraising event held at all of the chain’s locations to generate donations that stay local to each market. The ongoing list of these upcoming charity events on the website is both extensive and truly heartwarming to see, and benefits all kinds of great non-profit organizations doing good work.
A Variety of Class Types
The signature evening class is a 3-4 hour affair, but there are all kinds of specialty choices, including Corporate Team Building Events, Coffee & Canvas Weekday Classes, Date Night Classes, Paint Your Pet Classes, Children’s/Family Day Classes, Private Parties, Birthday/Bachelorette Parties, and of course the Painting with a Purpose Fundraising Events.
The chain added 69 locations in 2014 to top out the end of that year with 190 studios in 28 states, which means the chain has already added 57 new studios in 2015. It’s been ranked the #1 paint and sip franchise for two years in a row by Entrepreneur magazine.
Section II – Estimated Costs
- Please click here for detailed estimates of Painting with a Twist franchise costs, based on Item 7 of the company’s 2015 FDD (updated).