Updated February 24, 2020.
Detailed Estimates of Wine & Design Franchise Costs Based on Item 7 (Estimated Initial Investment) of Wine & Design’s 2019 Franchise Disclosure Document
- All fees and payments are non-refundable unless otherwise noted or allowed by third-party vendor.
1. Initial Franchise Fee: $25,000
2. Leasehold Deposit, Plus First Month’s Rent: $1,800 to $9,000
- This range assumes you will lease the space for the Studio and is based on leasehold deposit and first month’s rent. If you purchase the space, you will incur additional costs that Wine & Design cannot estimate.
- The space will generally be around 1,500 to 2,000 square feet. The rent and square footage vary considerably based upon location.
- Market conditions will dictate whether the landlord can obtain last month’s rent and security deposit up front.
3. Leasehold Improvements: $5,000 to $80,000
- This range assumes the space has not been built-out. Typically every space will need some buildout (adding utility sink, update flooring, paint, etc.)
4. Signage: $3,000 to $15,000
5. Furniture and Fixtures: $3,000 to $10,000
6. Equipment and Supplies: $3,500 to $6,000
7. Deposits and Licenses: $2,000 to $15,000
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- You will need to check with your local Alcohol Beverage Board to determine if a license is required to offer BYOB and served drinks. Any license will require a license fee which will vary by state jurisdiction.
8. Training Living Expenses: $500 to $5,000
9. Insurance: $650 to $2,000
- The figures in the chart represent estimated annual insurance premiums for the insurance that Wine & Design requires, and costs may vary from state to state.
- Depending on your insurance company’s practices, you may have to pay the entire annual premium in a lump sum; generally you pay your premiums quarterly or semi-annually.
10. Accounting and Legal Software and Services: $2,500 to $3,000
- The range includes a $15 per month fee for using Qvinici software and $155 a month for using 360 Accounting, Wine & Design’s required and approved vendor for bookkeeping and accounting services.
11. Technology and Website Fees: $1,000 to $2,000
- The range includes costs for newsletter, email, and photo editing set-up.
12. Computer, Printer, and Telephone/Internet Fees: $500 to $1,700
- You will need to buy or lease a computer and a printer and have Internet service as well as a dedicated telephone line.
13. Studio Manager/Assistant Salary: $10,000 to $30,000
14. Artist Training: $1,000
15. Grand Opening Fees: $3,000 to $5,000
16. Additional Funds – 3 Months: $7,500 to $11,500
- Wine & Design has assumed a 3-month startup phase and this estimate is for the additional funds you should have on hand for that period. This estimate assumes you will lease the space for the Studio.
- You will need additional funds for real estate lease payments, employee wages and related costs, amounts due to artists, costs to purchase supplies, fees due to Wine & Design (including royalty and advertising fees) and other expenses. These amounts do not include any estimates for debt service.
- These figures are estimates and Wine & Design cannot assure that you will not have additional expenses. Your actual costs will depend on factors like your management skills, experience, and business acumen.
- You should base your estimated start-up expenses on the anticipated costs in your market and consider whether you will need additional cash reserves.
17. Total: $69,950 to $221,200
- Wine & Design relied upon the experience of its franchisees for the estimated costs above.
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