Do I need to be an artist to own a Hot Spot Studio?

No. But you must love working in a creative environment, have some time management and organizational skills and want to enjoy the benefits of working for yourself, allowing yourself flexibility with time.

What are the benefits of being a Hot Spot franchisee?

You can rely on a proven unmatched business model, the backing of a developed brand and a dedicated support structure.  You will be part of a team of franchisees all committed to building their businesses. With active support and ongoing feedback, you’ll have guidance and encouragement at every stage of your business development. Together, we share a vested interest in success and work together for business growth.

What are the qualifications to be a franchise owner?

A net worth of at least $200,000.

Liquid assets of at least $80,000.

A FICO credit score of 670

What is the franchise fee?

The franchise fee is a one-time payment of $37,500 made at the time you are awarded a franchise.  If you open an additional studio, the franchise fee is reduced by $10,000.

Are there other fees involved in owning a Hot Spot Studio?

There is an on-going royalty rate of 5% of sales plus a 1% contribution to the marketing fund. There is also a technology fee of $250 a month for POS software system and web maintenance.

How do I find the right location?

Selecting the right retail site is vital to your business success.  Once the franchise agreement is signed, we will assist in site selection and highlight the key elements of a strong location.

What hours will I need to work?

Like every business – the more time and effort you put into the more you’ll get out of it.  So be prepared to work hard! – and have fun! As a franchisee you have to be prepared to work retail hours as a hands-on owner-operator. In the beginning, and you may choose to take time away as your business grows stronger.

How do I market the business in my community?

You will get support in studio launch activities, CRM, local promotion, digital marketing and SEO, event marketing, studio and community programming.  Our goal is to help you to attract and retain very happy customers…people who will talk about your studio and be excited to return.

What skill sets have contributed the most to the success of a franchise?

A strong customer service orientation is most important to help you build and nurture lasting customer relationships. Effective self-management and a proven work ethic are necessary to ensure that you stay focused and in command of your business. Good financial discipline is key to managing the business and cash flow demands and staying focused on the key drivers of profitability. A love of creativity and passion for The Hot Spot concept also makes a difference, generating natural excitement around your business. Being comfortable in a high energy fun environment is a must!

How much money will I make?

In many ways that’s up to you. While we cannot legally make earning projections, we can help you understand the income and expenses associated with a franchise operation once you are in the Discovery period.  Strong financial performance comes from effective business development, using the many tools and resource to grow your business with multiple customer segments. The aim of your investment is to build a business you can one day sell.  Your efforts, along with growing value in The Hot Spot brand, will help create a business you can potentially re-sell with a solid return on your investment.

What are start up costs?

Start up costs range from $74,400 – $157,600 (which includes the $37,500 Franchise Fee). Details will be disclosed in the FDD agreement.

What number should I call with my Franchising questions?