This non-franchise paint & sip studio has 2 locations in Iowa and 1 in South Dakota, each with a full-time Manager and several part-time Event Coordinators available for assistance with events. Offering public, private, corporate and mobile event services, over 80 paint & sips were held between all 3 locations in October. Since each location is fully staffed, the seller oversees operations and focuses on the big picture.
In-studio and mobile activities are led by local artists, who are art students, art teachers, and talented community artists. Many of them have come from events they have attended at the studios, or have approached the business to offer their services. Assisting attendees are Event Coordinators, who check people in, refill paint, and help to create a fun atmosphere. Depending on the number of attendees, between 1 and 3 Event Coordinators will be present.
All managers are full-time, and are responsible for running each studio’s calendar, setting up events, handling inventory and ordering supplies. As the studios are only open during events, the Managers are able to partially work from home. However, a buyer looking to increase profits should consider running one of the studios as an Owner/Operator.
Growth also exists in offering more corporate and mobile events. The seller is currently working on establishing a partnership with a corporate team building operation to boost the corporate event numbers. This is a great way to source clients for private functions.
2 locations in IA & 1 in SD, plus mobile units
Location 1 (northwestern IA) – 2,500 sq. ft. (seats 60+)
Location 2 (central IA) – 1,600 sq. ft. (seats 60)
Location 3 (southeastern SD) – 1,250 sq. ft. (seats 52
Growth Opportunities: More corporate and mobile events.
Profit Opportunity: Easily obtain liquor license
3 FT Managers, 25 PT Artists & Event Coordinators as needed (between 1 – 3 will work an event based on number of attendees).
Vary – dependent on public and private events
Purchase Price: $109,000
25% Buyer Down Payment: $27,250
25% Seller Financing: $27,250
50% Bank Loan: $54,500