Are you interested in becoming a craft studio franchisee, but aren’t sure which franchise to join? There are a plethora of arts and craft franchises available from paint and sip to ceramics to wooden board studios. Here at Pinspiration, our franchisees operate DIY craft studios with a diversity of crafts for all ages and skill levels. We are experts on the industry and in helping franchise candidates select the franchise that is best for them.
For those who are uncertain about what type of craft franchise to select, here are some factors to consider:
1. Diversity of Crafts
The first and most important thing to take into consideration is the types of products your franchise will have available. Some craft niches tend to have less of diversity in craft options, such as wooden board studios, however, craft studio franchises such as DIY studios like Pinspiration tend to offer a larger variety of options. More variety can mean more fun, but can also increase the complexity of your operation. Decide whether you want your franchise to specialize in a more specific type of craft or offer a wide variety.
2. Documentation on Crafts
One of the benefits of buying into a franchise rather than starting your own concept is that you will be provided with detailed instructions on how to run your business. Different crafting franchises have different levels of training, tutorials, and customer materials developed for their craft offering. Ask prospective franchisors if they provide franchisors with vendor lists for craft materials, training for store managers on how to make each craft, tutorials and materials for customers, and more!
Here at Pinspiration, we have a 1000+ page operations manual covering every aspect of operations, inventory, and craftmaking.
3. Adaptability to Markets
Crafting franchises are unique in that their products never have to go out of style. Therefore, if the ability to switch out your offered crafts for newer, more popular ones is important to you, select a franchise that allows for a rotation of crafts as current trends and styles change. Check to see at what frequency a franchise’s craft offering changes or how flexible your franchisor is in allowing you to introduce new crafts according to what you or your client base desires.
For example, Pinspiration rotates in new crafts each season and also allows franchisees to create their own craft ideas at their locations. The result is that our customers can come back again and again and never do the same project twice, and our crafts are always trending.
4. Support from the Franchisor
Do you need more of a guiding hand from the mother company or simply a set of concepts to follow on your own? Some businesses will provide more help to their franchisees than others, so if you are looking for more of a support system from a franchise team, make sure to ask how involved the team will be not only during the initial setup process but also later down the road when your franchise is up and running. At Pinspiration, we like to strike a healthy balance; we allow our franchisees a lot of flexibility and freedom to make decisions for their own studios, but also provide ample training and help as needed.
5. Selectivity
How selective is the franchisor in awarding franchises?
Are they accepting everyone who applies or are they thoroughly vetting candidates to find the perfect fit for their company? A company who strives on having a more selective process is more likely to produce more successful franchises. And, if your fellow franchisees are successful, you can collaborate with and learn from them.
Our philosophy is that the franchise will only succeed if we build a true franchise family of the most passionate, qualified, and fitting applicants. Pinspiration received over 2,000 franchise applications in just it’s first 3 months; out of this enormous group, only 7 franchises were awarded.
6. Flexibility
In comparison to other franchise fields, crafting franchises usually allow for more freedom and deviation. However, there are still some that may require more strict and standardized adherence to concepts. If you want to have the ability to create your own crafts, have regional variations, and customize your studio, look out for crafting franchises that give you that flexibility to actively use your imagination in your new business. Pinspiration believes that allowing for local market flexibility results in a better customer experience.
7. Success Record
No one decides to take on a franchise with the hopes of failing, so make sure to research the success rates of their other franchise locations. Are the other craft studios thriving? Are their owners happy? How many other franchises does the company have? Conduct your due diligence on the success record of fellow franchisees because their performance may be a good indicator of the future of your own.
Pinspiration’s franchise team very openly shares the financial information of existing locations with all qualified franchise applications. Transparency is key.
Have you hammered out which crafting franchise you want to own? Here at Pinspiration Franchise Group, we consult with prospective franchisees every day to help them determine if a crafting franchise is right for them. If you are interested in a free consultation and potentially Pinspiration Franchise Ownership, complete our 5-minute form here.