Average profit for a studio open more than one year is about $58,000 ($86,000 for the top 25 ranked studios).
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Additionally, franchisees pay 1% of gross sales to corporate for producing marketing materials, and $80 per month for 7-day per week online computer support and license upgrades to computer systems. MM: Initial investment is about $145,000. We also provide monthly financial and operating analysis.įC: What can you tell us about the estimated initial investment, royalty fee, and profit potential for a Color Me Mine franchise?
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Additionally, the Color Me Mine home office team provides full real estate support (site evaluation, letters of intent, lease negotiation, contract signing, etc), construction and opening support, as well as ongoing operations support and training at regional and annual meetings.
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This includes three days in a local studio, plus five days with a trainer on site to help franchisees open their new studio. MM: Color Me Mine hosts a 10-day program at the home office training facility.
Our franchisees and staff must have outgoing personalities, enjoy children, and be proficient with computers.įC: What kind of training and support can your franchisees expect to receive?
Color Me Mine franchisees work in the studios about 30 hours per week, and conduct marketing strategies (online and in-person on a grass roots basis) about 8-10 hours. MM: Each studio hires 5-7 part time employees (about 90 employee hours). I think people are also doing more personal gifts rather than buying expensive items at a department store for holidays or birthdays.įC: What is the typical role of a hands-on Color Me Mine franchise owner/operator? What are the staffing requirements for the average Color Me Mine location? With the difficult economy during the past couple years, we have noticed an interesting trend in which people are traveling less and looking for entertainment close to home. MM: We have actually seen an increase in sales during the recession. Primary revenue drivers, besides walk-ins (40% impulse), would be group sales from girl scouts, birthday parties, wedding and baby showers, fundraisers, day camps, and after-school enrichment programs.įC: How has the difficult economy of the past few years impacted sales at Color Me Mine locations? The average sales is $266,000 per year, with profit in excess of 22%. Cost of sales is about 18%, labor about 18%, rent about 20%, and administrative expenses about 20%. MM: Cost of sales is quite low making the lease the biggest single expense. Once that is completed, the customer comes back in a week or less to pick up their finished masterpiece.įC: Can you talk about the business model for a Color Me Mine franchise? How do your franchisees generate revenues? What are the major expenses to generate those revenues? The next step is to glaze and fire the pieces. Customers come to a studio and pick a white, blank ceramic object and decorate the piece themselves with the assistance of our employees, if needed. Founded in 1991, Color Me Mine studios provide an entertainment, enrichment, and bonding experience for families. Mike Mooslin (MM): Color Me Mine is the originator of the paint-it-yourself ceramics concept. In 1998, Mike bought Color Me Mine, the leader in the paint-it-yourself ceramics industry. Mike sold his consulting company and private restaurant holdings to develop KOO KOO ROO, a fast-casual restaurant concept, which was later sold to El Torito in the 1990s. Mike Mooslin, president of Color Me Mine, has been involved in fast food franchising for over 30 years (7 years with McDonald’s, 17 years as President of Naugles Drive Thru, and 7 years as a franchise consultant to franchise attorneys and restaurant chains). ceramics locations, it accounts for approximately 30 percent of the revenue stream in the industry. Although Color Me Mine represents just 15 percent of U.S. The company recently reported that average unit volumes at its 140 studios worldwide nearly double that of independently owned paint-it-yourself ceramic studios. Founded in 1991, Color Me Mine provides consumers with an upscale art-as-entertainment studio offering a relaxing environment to choose from 350 unfinished pieces and express their own vision through painting. Color Me Mine is the leader in the contemporary ceramics industry with nearly 140 locations in operation worldwide, including studios in 26 states throughout the United States.
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