Do you want to open a DIY workshop business by buying Nailed It DIY franchise? If YES, here is how much it cost to open Nailed It DIY franchise successfully. Nailed It DIY was started and is still managed by Misty and Shannon who come from an extremely creative background in both their personal and professional lives.
The idea and concept of Nailed It DIY started in 2014 when a church leader called Shannon and asked if she could engage a group of women in a DIY experience. Shannon jumped at the chance and went on to plan and devise a means to make sure the event panned out successfully.
After a successful event, Shannon’s mind flooded with possible ideas and how those ideas could become a potential business. The idea was simple, but the power of empowering others with creativity was majestic.
Immediately after Nailed It’s first class, Misty came in for a workshop, felt the same spark and the synergy began. The team of two moms established a matched set and they each brought professional strength to the enterprise, and complimented each other’s skills efficiently.
All Nailed It DIY studios offer a variety of options for all situations – from private parties and small group appointments to daytime and evening walk-in hours. The company does not offer just for parties and planners, they have a system in place that makes the busiest of days a breeze.
Nailed It DIY have grown over the years to encourage, instruct and involve customers in the experience. Studio Owners and ART-Tenders are tasked with explaining the process, provide creative guidance and instruction, and customers build and create their own projects.
All Nailed It DIY studios welcome all skill levels and encourage customers to get down and dirty with a sander and a nail gun, all under the watchful eyes of highly trained staff.
Well known as a small company with big hearts, the company now prides itself on the support they are able to provide franchisees. With Nailed It DIY Franchise, when you need something, you’re talking directly to the people who can provide solutions – not a help desk or answering machine.
The company are committed to making the right decisions for all customers, staff and franchisees and always strive to look at each situation with a clear mind so that they are always making good choices and giving clear direction.
The studios are designed to be warm and welcoming and are meant to encourage the creative process. It is the vision of the company to make customers feel like old friends and also feel at home around the art bar. That same feeling is extended to franchisees.
Financial Requirements of Opening a Nailed It DIY Franchise
- Initial Investment: $61,500 – $139,000
- Units: +650.0%+13 UNITS (1 Year) +1,400.0%+14 UNITS (3 Years)
- Net-worth Requirement: $150,000
- Liquid Cash Requirement: $75,000
- Initial Franchise Fee: $23,500
- Ongoing Royalty Fee: 6%
- Ad Royalty Fee: 1%
Steps to Buy a Nailed It DIY Franchise
According to the company’s website, Nailed It DIY is growing and learning with every single workshop. The company believes in zero limitations and are always eager to help franchisees achieve success.
Studios now offer Open Studio, Adult Private Parties, Offsite Events, Youth Camps and Youth Birthday Parties – all centred on a unique bar concept and guided through the DIY process by friendly and knowledgeable Art-Tenders. Without further waste of time, below are steps to consider when looking acquiring this franchise.
1. Declaration of interest
You are expected to visit the company’s website and fill out some preliminary information to get started on a potential partnership with Nailed It DIY Franchise. Note that this is not an offering to sell you or for you to acquire a franchise.
An offering for this franchise can only be made by a prospectus in the form of a franchise disclosure document (FDD). But at this initial stage, the goal is to create a relationship between the two parties. It’s imperative to discover if you have a shared interest in working together and accomplishing the objective and goals you establish.
2. Review of the Franchise Disclosure Document
Reviewing the Franchise Disclosure Document (FDD) is a very important part of the due diligence process. You’ll learn about the franchise system’s financials and details around your investment and startup costs. The FDD will offer deep insights into the nature of the relationship the franchisee will have with Nailed It DIY and outlines the Franchise Agreement.
It helps you understand the company better. However, since the FDD is quite daunting and contains legal details, it is ideal to have an attorney walk you through the document to thoroughly understand it. This way, you are clear about what the company’s expectations (and your obligations) are.
At this stage, you will receive support from the company’s sales team on how to build your studio. The company will provide demographics, target markets, suitable real estate location suggestions, and assistance with other aspects of the business. The company will feed you about the training process and the support that will be provided to allow you to follow its proven systems.
At this point you are advised to seek out other franchisees or even previous franchisees. It’s highly recommended that each franchise candidate contact other franchise owners to have frank discussions about their experience. Note that this is a wonderful way to learn about the company’s culture and how others view the franchise leaders and services.
In addition, it’s a good idea to visit the different franchise locations and go through the franchise disclosure document again. Have it in mind that collecting feedback from other franchisees is critical before signing a franchise agreement. Through this franchise sales process, you will be able to establish what you can expect from the franchise and identify any questions, issues, or concerns you may have.
5. Franchise Discovery Day
This is the stage where you officially get to meet the management, and get to know each other well enough to determine if you will make a good team. Other potential candidates and franchisees may be in attendance as well. Note that this is a perfect opportunity for you to learn about the company’s operations and ask questions. By the end of this event, you will most likely have enough information to make an informed decision.
To aid you make a concrete decision, you may want to seek the services of a consultant or consult with your attorney or accountant to evaluate whether the opportunity is right for you. Notwithstanding, if you are sure with the opportunity, you can close by signing the franchise agreement. At this point, you’ll be asked to pay the necessary fees and then the exciting process of launching your franchise location begins.
Nailed It Studios – the original DIY concept for group workshop experiences – opened in September of 2014. Shannon Evans and Misty Grant took a small idea in the storeroom of a suburban gift boutique and ran with it. Ever since, this creativity has flown through them and into other successful franchises that you can join today.