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FDD Talk: The Pinot’s Palette Franchise Opportunity (Financial Performance Analysis, Estimated Costs, and Other Important Stuff You Need to Know)

by Franchise Chatter on January 20, 2016

in Art-Related Franchise, FDD Talk 2017: Miscellaneous Franchises, Franchise Earnings

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Pinot's Palette Studio Photo

In this FDD Talk post, you’ll learn the following:

  • Section I – Background information on the Pinot’s Palette franchise opportunity, including relevant news updates
  • Section II – Estimated initial investment for a Pinot’s Palette franchise, based on Item 7 of the company’s 2015 FDD
  • Section III – Presentation and analysis of Pinot’s Palette’s financial performance representations, based on Item 19 of the company’s 2015 FDD, including information on the:
  • 2014 average, high, and low gross sales achieved by the 27 franchisee-owned and 4 affiliate-owned Pinot’s Palette Studios open the entire year of 2014
  • average, high, and low gross sales for the first 12 months of operation achieved by the 27 franchisee-owned and 4 affiliate-owned Pinot’s Palette Studios open the entire year of 2014
  • average gross sales for the 9 franchisee-owned and 4 affiliate-owned Pinot’s Palette Studios open the entire years of 2013 and 2014 for each studio’s first 24 months of sales separated by the first and second 12-month periods
  • projected labor cost and cost of goods sold for a two hour and three hour painting class, with 20, 35, and 50 painters

Section I – Background Information

Pinot’s Palette Combines Art, Entertainment, Wine and Fun

Art and entertainment combine for a fun, creative time when people gather at Pinot’s Palette for a paint-and-sip experience that’s driving record growth for this young franchise.

CEO Craig Ceccanti started the chain with co-founders Charles and Beth Willis in 2009, sparked by their desire to share their passion for art and entertainment in a new and unusual way. Now, the chain has more than 150 current and planned locations, with more in the works.

The chain, the only international franchisor of paint-and-sip studios in North America, announced in June 2015 that it had signed franchise agreements for a record 27 locations and added Minnesota and Alabama to the list of states with Pinot’s Palette locations.

Art Experience Not Required

At Pinot’s Palette franchises, local artists guide adult groups of people who all paint the featured paintings, while relaxing and sipping wine. All supplies are included, and guests don’t have to have any art experience. The artists provide step-by-step instructions and guidance within a party atmosphere.

The paint-and-sip model is an excellent way for groups of friends or co-workers to get together and enjoy themselves for an evening, sharing in the creation of works of art, each with its own unique touches. Participants often line up for a photo after the event, holding their art pieces.

The franchise signed up its one-millionth registrant in November 2015. Kevin Cochran, whose reservation was in Tustin, California, was presented with a basket of prizes. He and his girlfriend, Jessica Greenwood, attended the studio for their anniversary.

Participants in the Pinot’s Palette paint-and-sip events are female, more often than not. Among the typical settings are private parties, corporate events and special occasions such as birthdays, anniversaries, bachelorette parties and other celebrations.

The chain also sells gift certificates that can be used at any location.

New Online Options

Pinot’s Palette started a new e-commerce option in November 2015, launching Shopping Cart 2.0 just prior to Cyber Monday and the online holiday shopping season.

The launch enables the franchise to offer online shopping for merchandise, including wine glasses, picture frames and clothing. The existing online reservation system is now enhanced to enable guests to register for multiple events.

Tops for Veterans

Pinot’s Palette in December 2015 earned the top spot in the Top Franchises for Veterans List for 2015 from Franchise Business Review.

The list is based on data from more than 3,000 veteran franchisees who represented 285 franchised brands. The honor signifies veterans franchisees’ faith in Pinot’s Palette and the chain’s support of the veterans.

Section II – Estimated Costs

  • Please click here for detailed estimates of Pinot’s Palette’s franchise costs, based on Item 7 of the company’s 2015 FDD.

Section III – Financial Performance Representations (Item 19, 2015 FDD) and Analysis

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