Should I open or buy a Painting with a Twist franchise in 2027?

📖 2,724 words🗓️ Published Sep 28, 2026

Direct Answer

Open or buy a Painting with a Twist franchise in 2027 only if you can prove out private and corporate event demand in your specific market and commit to active local marketing — the brand's moderate $115,000-$215,000 investment and 6% royalty are manageable, but paint-and-sip has matured past its novelty peak, so a passive, walk-in-only operator will likely underperform while an events-driven, marketing-forward owner can still clear $40,000-$140,000 in annual cash flow.

The two paths into a Painting with a Twist: buying resale versus opening new

Anyone evaluating this franchise in 2027 is really choosing between two different transactions that happen to share the same brand name, the same 2026 FDD, and the same 6% royalty structure. The first path is opening a brand-new territory from scratch through the franchisor's development pipeline. The second is buying an existing, already-operating studio from a current owner who wants out — a resale. These are not interchangeable decisions, and conflating them is the most common mistake prospective owners make when they start reading Painting with a Twist franchise materials.

Opening new means paying the standard Item 7 range of roughly $115,000 to $215,000 — franchise fee, buildout, easels and supplies, signage, initial marketing, working capital, and training — and then starting at zero. You have no customer list, no private-event calendar, no local reputation, and no track record of Yelp or Google reviews. Every dollar of revenue in month one has to be earned through cold local marketing, community outreach, and manually booking your first birthday parties, bachelorette groups, and corporate team-building sessions. The upside is that you control the buildout from day one, you pick the exact site, and you are not paying anyone a premium for goodwill — every dollar you spend goes into an asset you built to your own specification.

Should I open or buy a Painting with a Twist franchise in 2027 — figure 1

Buying an existing studio flips that trade-off. You are paying not just for the fixtures, easels, and leasehold improvements, but for the intangible value of an operating business: an existing roster of trained part-time artists, a functioning private-event pipeline, a mailing list of repeat customers, and — critically — a real, provable revenue history you can underwrite against instead of a pro forma. Resale pricing in franchise systems like this one typically layers a multiple of 1.5x to 3x seller's discretionary earnings (SDE) on top of the hard-asset replacement value, meaning a profitable studio generating $80,000-$120,000 in owner cash flow could reasonably sell for $150,000-$350,000 depending on lease terms remaining, location quality, and how much of the private-event book is owner-dependent versus institutionalized in staff and systems. The advantage is you skip the 12-24 month ramp-up that new studios almost universally go through; the risk is you inherit whatever problems the seller is walking away from, including a stale customer list, an aging lease, or a market that has quietly become saturated with competing paint-and-sip concepts since the studio opened.

There is a third, hybrid consideration worth naming: a transfer within the same territory from a burned-out owner who never built the private-event side of the business. These studios are common in a maturing category — an owner opened during the 2010s peak, rode public-class walk-in traffic for years, and never adapted when that traffic normalized downward. Buying this kind of studio at a discount and rebuilding the event-sales engine yourself can be the single best value play in the entire brand, because you are buying the fixed costs (lease, buildout, equipment) at a depressed price while the upside — an aggressive local corporate-events push — is still sitting on the table, untouched, for you to capture.

How to decide between buying and opening

Should I open or buy a Painting with a Twist franchise in 2027 — figure 2

The right choice depends less on which path "sounds safer" and more on three concrete, answerable questions: is your target market already served by an existing Painting with a Twist studio that might be for sale, how saturated is the broader paint-and-sip category in that trade area, and how confident are you in your own ability to generate demand from zero versus inherit it. Work through those in order, because each one gates the next — there is no point evaluating a resale's numbers if the market itself can't support another studio, and there is no point building a marketing plan for a new territory if a struggling existing studio is sitting there for a fraction of replacement cost.

If a resale exists, the decision hinges almost entirely on verifiable numbers rather than gut feel. Request three full years of profit-and-loss statements, not just the headline revenue figure, and specifically isolate what share of that revenue comes from private and corporate bookings versus public walk-in classes — a studio doing $400,000 a year with 55% from private events is a fundamentally different asset than one doing the same revenue with 80% from public classes, because the former has a defensible, repeatable revenue engine and the latter is exposed to the same foot-traffic decline that has pressured the category since its mid-2010s peak. Cross-check the asking price's implied SDE multiple against comparable experiential-retail resales; anything above 3x trailing SDE for a paint-and-sip studio in 2027 is difficult to justify given the category's maturity, no matter how attractive the location.

If no resale is available and you're evaluating a new territory, the saturation question comes first. Map every paint-and-sip and adjacent creative-experience studio — Painting with a Twist locations, Pinot's Palette, Wine & Design, Board & Brush, independent operators — within a realistic drive-time radius. A market with zero or one competitor and strong indicators of corporate and event density (office parks, hotels, event venues, a visible wedding and bachelorette-party economy) is a legitimate opening opportunity. A market already carrying two or more paint-and-sip concepts is telling you that customer acquisition will be a fight for share rather than a fight to create new demand, and new entrants in that position consistently take longer to break even and produce thinner margins.

What the investment and returns actually look like across both paths

Should I open or buy a Painting with a Twist franchise in 2027 — figure 3

The hard numbers differ meaningfully depending on which path you take, and prospective owners frequently underestimate the resale side because they mentally anchor on the FDD's Item 7 range without adjusting for goodwill. For a new territory, the 2026 FDD lists a franchise fee of roughly $25,000 to $50,000 depending on territory size and market, buildout and leasehold improvements of $40,000 to $90,000 for the open studio floor plus beverage/bar area, $15,000 to $35,000 in easels, paint, canvases, and consumable art supplies, $10,000 to $25,000 in furnishings and branded decor, $5,000 to $15,000 in signage, $15,000 to $35,000 in initial marketing and grand-opening spend, $20,000 to $50,000 in working capital to fund the ramp period, and $5,000 to $12,000 in training and travel to headquarters — a total Item 7 investment of approximately $115,000 to $215,000. Ongoing obligations are a 6% royalty on gross sales plus a 2%-4% brand and local marketing contribution, regardless of whether the studio was opened new or acquired as a resale, since those royalty terms transfer with the franchise agreement.

For a resale, add a goodwill premium on top of a discounted version of that same asset base — used easels, existing leasehold improvements, and a partially depreciated buildout are worth less than new, but the operating business built on top of them commands a multiple of earnings. A studio generating $250,000-$600,000 in annual revenue with owner cash flow in the 12%-25% range, or roughly $40,000-$140,000 a year, might reasonably trade for $150,000-$350,000 all-in once you layer a 1.5x-3x SDE multiple onto the hard-asset value, financed through a combination of seller financing, an SBA 7(a) loan (typically requiring 20%-25% equity from the buyer), and personal capital. Financing a resale is often easier than financing a new build precisely because lenders can underwrite against three years of actual tax returns rather than a franchisor-provided pro forma, which is one of the underappreciated advantages of the buy path.

Should I open or buy a Painting with a Twist franchise in 2027 — figure 4

Public class seats generally price at $35-$45 per guest, private events at $35-$50 per person with venue minimums, and corporate team-building bookings command a further premium over standard private-event pricing because they typically include add-ons like catering coordination, custom branding on the canvas, and after-hours scheduling flexibility. The studios clearing the top of the $40,000-$140,000 owner cash-flow range are, without exception, the ones where private and corporate events make up 40%-60% of total revenue rather than relying on public walk-in traffic, because event bookings fill weeknight and daytime slots that would otherwise sit empty, and they carry higher effective margins once the fixed costs of the space are already covered by baseline public-class volume.

Sequencing the decision and the first year, whichever path you take

Whether you open a new Painting with a Twist or buy an existing one, the sequence of due diligence and launch activity follows a similar backbone, with the buy path compressing the market-validation stage and the open path compressing the financial-verification stage. Either way, the work happens roughly across a 90-day evaluation window followed by a 12- to 24-month operational ramp before the studio reaches its mature run rate.

In the first two weeks, pull the current Painting with a Twist FDD and read Items 5 through 7 for the fee and investment structure, Item 19 for any financial performance representations the franchisor is willing to disclose, and Item 20 for the outlet-transfer and closure table — a high count of transfers or terminations in your target region is a direct signal of market difficulty that no amount of personal optimism should override. Weeks three and four are for mapping saturation and, in parallel, identifying whether any current owner in your target territory is quietly looking to sell; franchisors and area representatives often know about upcoming resales before they're formally listed. Weeks five and six are for calling at least five current franchisees, ideally a mix of strong performers and average ones, and asking directly what share of their revenue comes from private versus public events, how that mix has trended over the past two to three years, and what their actual owner take-home has been in years one, two, and three.

Should I open or buy a Painting with a Twist franchise in 2027 — figure 5

By weeks seven through nine you should be deep in either resale-financial verification or new-site selection and lease negotiation, and weeks ten and eleven are for a formal FDD legal review, typically costing $4,000-$7,000, focused on territory protection language, the royalty and brand-fund obligations, and — for a resale — the specific terms of the purchase agreement and any outstanding lease liabilities you'd be assuming. Financing should be locked by week thirteen, budgeting at least $50,000 of ramp runway beyond the purchase price or buildout cost regardless of path, since even resales with an existing customer base typically see some disruption during an ownership transition. Training with headquarters happens around month four, and the real differentiator between studios that hit the top of the cash-flow range and those that struggle happens in months five and six: building or rebuilding the private and corporate event-sales pipeline aggressively enough that, by month seven through twenty-four, events represent 40%-60% of total revenue rather than an afterthought layered on top of public classes.

FAQ

Should I open or buy a Painting with a Twist franchise in 2027 — figure 6

What is the typical profit margin for a Painting with a Twist franchise? Margins vary widely by location and management, but a well-run studio often lands in the 12%-25% net range on owner cash flow. The category is mature, so margin depends heavily on how effectively the owner drives private events and repeat customers rather than relying on walk-in public classes.

How much working capital do I need beyond the initial investment? Plan on at least $30,000 to $60,000 in additional working capital to cover the first six to twelve months, whether you open new or buy a resale. This buffers slower initial months, seasonal dips in walk-in traffic, and any disruption during an ownership transition.

Can I run a Painting with a Twist as a semi-absentee owner? It's possible but risky, since the business depends heavily on local marketing, event-sales relationships, and hands-on customer experience. Most owners who try a semi-absentee model need a strong, trusted manager in place, which typically reduces overall profit.

How competitive is the paint-and-sip market in 2027? Competition is significant in many metro areas, with independent studios, Pinot's Palette, Wine & Design, and other Painting with a Twist locations all pursuing the same customer base. Brand recognition helps, but differentiation through corporate packages, unique themes, and community partnerships still matters.

What are the biggest ongoing costs after opening or buying? Rent is typically the largest fixed cost, followed by part-time instructor payroll. Art supplies, the 2%-4% marketing contribution, and the 6% royalty add up quickly — labor and rent together commonly consume 50%-65% of revenue, leaving little room for error in an under-marketed studio.

How important are private and corporate events to making this franchise work? Extremely important — successful studios typically generate 40%-60% of revenue from private parties, corporate team-building, and fundraisers. Public walk-in classes alone rarely produce enough volume to sustain a profitable Painting with a Twist location, whether it was opened new or bought as a resale.

Sources

International Franchise Association — ifa.org
U.S. Small Business Administration, 7(a) loan program — sba.gov
Entrepreneur Franchise 500 — entrepreneur.com
FranchiseDirect — franchisedirect.com
IBISWorld industry research — ibisworld.com
U.S. Census Bureau, household and discretionary-spending data — census.gov
Franchise Business Review — franchisebusinessreview.com
Technomic consumer and experiential-spending research — technomic.com

flowchart TD S["Should I open or buy a Painting with a"] S --> N0["The two paths into a Painting with a T"] N0 --> N1["How to decide between buying and openi"] N1 --> N2["What the investment and returns actual"] N2 --> N3["Sequencing the decision and the first "]

flowchart LR C["Should I open or buy a Painting with a"] C --> H0["The two paths into a Painting with a T"] C --> H1["How to decide between buying and openi"] C --> H2["What the investment and returns actual"] C --> H3["Sequencing the decision and the first "]

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## Direct Answer

Open or buy a Painting with a Twist franchise in 2027 only if you can prove out private and corporate event demand in your specific market and commit to active local marketing — the brand's moderate $115,000-$215,000 investment and 6% royalty are manageable, but paint-and-sip has matured past its novelty peak, so a passive, walk-in-only operator will likely underperform while an events-driven, marketing-forward owner can still clear $40,000-$140,000 in annual cash flow.

## The two paths into a Painting with a Twist: buying resale versus opening new

```mermaid
flowchart TD
  S["Should I open or buy a Painting with a"]
  S --> N0["The two paths into a Painting with a T"]
  N0 --> N1["How to decide between buying and openi"]
  N1 --> N2["What the investment and returns actual"]
  N2 --> N3["Sequencing the decision and the first "]
```


Anyone evaluating this franchise in 2027 is really choosing between two different transactions that happen to share the same brand name, the same 2026 FDD, and the same 6% royalty structure. The first path is opening a brand-new territory from scratch through the franchisor's development pipeline. The second is buying an existing, already-operating studio from a current owner who wants out — a resale. These are not interchangeable decisions, and conflating them is the most common mistake prospective owners make when they start reading Painting with a Twist franchise materials.

Opening new means paying the standard Item 7 range of roughly $115,000 to $215,000 — franchise fee, buildout, easels and supplies, signage, initial marketing, working capital, and training — and then starting at zero. You have no customer list, no private-event calendar, no local reputation, and no track record of Yelp or Google reviews. Every dollar of revenue in month one has to be earned through cold local marketing, community outreach, and manually booking your first birthday parties, bachelorette groups, and corporate team-building sessions. The upside is that you control the buildout from day one, you pick the exact site, and you are not paying anyone a premium for goodwill — every dollar you spend goes into an asset you built to your own specification.

![Should I open or buy a Painting with a Twist franchise in 2027 — figure 1](/assets/qa/fr1058-b1.jpg)



Buying an existing studio flips that trade-off. You are paying not just for the fixtures, easels, and leasehold improvements, but for the intangible value of an operating business: an existing roster of trained part-time artists, a functioning private-event pipeline, a mailing list of repeat customers, and — critically — a real, provable revenue history you can underwrite against instead of a pro forma. Resale pricing in franchise systems like this one typically layers a multiple of 1.5x to 3x seller's discretionary earnings (SDE) on top of the hard-asset replacement value, meaning a profitable studio generating $80,000-$120,000 in owner cash flow could reasonably sell for $150,000-$350,000 depending on lease terms remaining, location quality, and how much of the private-event book is owner-dependent versus institutionalized in staff and systems. The advantage is you skip the 12-24 month ramp-up that new studios almost universally go through; the risk is you inherit whatever problems the seller is walking away from, including a stale customer list, an aging lease, or a market that has quietly become saturated with competing paint-and-sip concepts since the studio opened.

There is a third, hybrid consideration worth naming: a transfer within the same territory from a burned-out owner who never built the private-event side of the business. These studios are common in a maturing category — an owner opened during the 2010s peak, rode public-class walk-in traffic for years, and never adapted when that traffic normalized downward. Buying this kind of studio at a discount and rebuilding the event-sales engine yourself can be the single best value play in the entire brand, because you are buying the fixed costs (lease, buildout, equipment) at a depressed price while the upside — an aggressive local corporate-events push — is still sitting on the table, untouched, for you to capture.

![Should I open or buy a Painting with a Twist franchise in 2027 — figure 2](/assets/qa/fr1058-b2.jpg)



## How to decide between buying and opening

```mermaid
flowchart LR
  C["Should I open or buy a Painting with a"]
  C --> H0["The two paths into a Painting with a T"]
  C --> H1["How to decide between buying and openi"]
  C --> H2["What the investment and returns actual"]
  C --> H3["Sequencing the decision and the first "]
```


The right choice depends less on which path "sounds safer" and more on three concrete, answerable questions: is your target market already served by an existing Painting with a Twist studio that might be for sale, how saturated is the broader paint-and-sip category in that trade area, and how confident are you in your own ability to generate demand from zero versus inherit it. Work through those in order, because each one gates the next — there is no point evaluating a resale's numbers if the market itself can't support another studio, and there is no point building a marketing plan for a new territory if a struggling existing studio is sitting there for a fraction of replacement cost.

If a resale exists, the decision hinges almost entirely on verifiable numbers rather than gut feel. Request three full years of profit-and-loss statements, not just the headline revenue figure, and specifically isolate what share of that revenue comes from private and corporate bookings versus public walk-in classes — a studio doing $400,000 a year with 55% from private events is a fundamentally different asset than one doing the same revenue with 80% from public classes, because the former has a defensible, repeatable revenue engine and the latter is exposed to the same foot-traffic decline that has pressured the category since its mid-2010s peak. Cross-check the asking price's implied SDE multiple against comparable experiential-retail resales; anything above 3x trailing SDE for a paint-and-sip studio in 2027 is difficult to justify given the category's maturity, no matter how attractive the location.

![Should I open or buy a Painting with a Twist franchise in 2027 — figure 3](/assets/qa/fr1058-b3.jpg)



If no resale is available and you're evaluating a new territory, the saturation question comes first. Map every paint-and-sip and adjacent creative-experience studio — Painting with a Twist locations, Pinot's Palette, Wine & Design, Board & Brush, independent operators — within a realistic drive-time radius. A market with zero or one competitor and strong indicators of corporate and event density (office parks, hotels, event venues, a visible wedding and bachelorette-party economy) is a legitimate opening opportunity. A market already carrying two or more paint-and-sip concepts is telling you that customer acquisition will be a fight for share rather than a fight to create new demand, and new entrants in that position consistently take longer to break even and produce thinner margins.

## What the investment and returns actually look like across both paths

The hard numbers differ meaningfully depending on which path you take, and prospective owners frequently underestimate the resale side because they mentally anchor on the FDD's Item 7 range without adjusting for goodwill. For a new territory, the 2026 FDD lists a franchise fee of roughly $25,000 to $50,000 depending on territory size and market, buildout and leasehold improvements of $40,000 to $90,000 for the open studio floor plus beverage/bar area, $15,000 to $35,000 in easels, paint, canvases, and consumable art supplies, $10,000 to $25,000 in furnishings and branded decor, $5,000 to $15,000 in signage, $15,000 to $35,000 in initial marketing and grand-opening spend, $20,000 to $50,000 in working capital to fund the ramp period, and $5,000 to $12,000 in training and travel to headquarters — a total Item 7 investment of approximately $115,000 to $215,000. Ongoing obligations are a 6% royalty on gross sales plus a 2%-4% brand and local marketing contribution, regardless of whether the studio was opened new or acquired as a resale, since those royalty terms transfer with the franchise agreement.

![Should I open or buy a Painting with a Twist franchise in 2027 — figure 4](/assets/qa/fr1058-b4.jpg)



For a resale, add a goodwill premium on top of a discounted version of that same asset base — used easels, existing leasehold improvements, and a partially depreciated buildout are worth less than new, but the operating business built on top of them commands a multiple of earnings. A studio generating $250,000-$600,000 in annual revenue with owner cash flow in the 12%-25% range, or roughly $40,000-$140,000 a year, might reasonably trade for $150,000-$350,000 all-in once you layer a 1.5x-3x SDE multiple onto the hard-asset value, financed through a combination of seller financing, an SBA 7(a) loan (typically requiring 20%-25% equity from the buyer), and personal capital. Financing a resale is often easier than financing a new build precisely because lenders can underwrite against three years of actual tax returns rather than a franchisor-provided pro forma, which is one of the underappreciated advantages of the buy path.

Public class seats generally price at $35-$45 per guest, private events at $35-$50 per person with venue minimums, and corporate team-building bookings command a further premium over standard private-event pricing because they typically include add-ons like catering coordination, custom branding on the canvas, and after-hours scheduling flexibility. The studios clearing the top of the $40,000-$140,000 owner cash-flow range are, without exception, the ones where private and corporate events make up 40%-60% of total revenue rather than relying on public walk-in traffic, because event bookings fill weeknight and daytime slots that would otherwise sit empty, and they carry higher effective margins once the fixed costs of the space are already covered by baseline public-class volume.

![Should I open or buy a Painting with a Twist franchise in 2027 — figure 5](/assets/qa/fr1058-b5.jpg)



## Sequencing the decision and the first year, whichever path you take

Whether you open a new Painting with a Twist or buy an existing one, the sequence of due diligence and launch activity follows a similar backbone, with the buy path compressing the market-validation stage and the open path compressing the financial-verification stage. Either way, the work happens roughly across a 90-day evaluation window followed by a 12- to 24-month operational ramp before the studio reaches its mature run rate.

In the first two weeks, pull the current Painting with a Twist FDD and read Items 5 through 7 for the fee and investment structure, Item 19 for any financial performance representations the franchisor is willing to disclose, and Item 20 for the outlet-transfer and closure table — a high count of transfers or terminations in your target region is a direct signal of market difficulty that no amount of personal optimism should override. Weeks three and four are for mapping saturation and, in parallel, identifying whether any current owner in your target territory is quietly looking to sell; franchisors and area representatives often know about upcoming resales before they're formally listed. Weeks five and six are for calling at least five current franchisees, ideally a mix of strong performers and average ones, and asking directly what share of their revenue comes from private versus public events, how that mix has trended over the past two to three years, and what their actual owner take-home has been in years one, two, and three.

![Should I open or buy a Painting with a Twist franchise in 2027 — figure 6](/assets/qa/fr1058-b6.jpg)



By weeks seven through nine you should be deep in either resale-financial verification or new-site selection and lease negotiation, and weeks ten and eleven are for a formal FDD legal review, typically costing $4,000-$7,000, focused on territory protection language, the royalty and brand-fund obligations, and — for a resale — the specific terms of the purchase agreement and any outstanding lease liabilities you'd be assuming. Financing should be locked by week thirteen, budgeting at least $50,000 of ramp runway beyond the purchase price or buildout cost regardless of path, since even resales with an existing customer base typically see some disruption during an ownership transition. Training with headquarters happens around month four, and the real differentiator between studios that hit the top of the cash-flow range and those that struggle happens in months five and six: building or rebuilding the private and corporate event-sales pipeline aggressively enough that, by month seven through twenty-four, events represent 40%-60% of total revenue rather than an afterthought layered on top of public classes.

## Related questions

### Is Painting with a Twist a good franchise to buy in a saturated market?
Generally no — saturation is the single biggest risk factor in this category. If two or more paint-and-sip concepts already operate in your trade area, a new Painting with a Twist studio will likely face a longer ramp and thinner margins than the brand's typical performance range.

### How long does it take a new Painting with a Twist studio to break even?
Most new studios in the category take roughly 12 to 24 months to reach a stable run rate, largely driven by how quickly the owner builds a private and corporate event-booking pipeline rather than relying on public class attendance alone.

### Does buying a resale Painting with a Twist studio cost more than opening new?
Often yes in total dollars, because you're paying a goodwill premium of roughly 1.5x-3x seller discretionary earnings on top of the hard-asset value — but you're also buying a proven revenue history and an existing event calendar, which materially lowers execution risk.

### What franchisee questions matter most before signing?
Ask specifically about the public-versus-private-event revenue split, how that mix has trended over the past two to three years, and actual owner take-home in years one through three — generic satisfaction questions won't surface the real profit driver in this category.

## FAQ

**What is the typical profit margin for a Painting with a Twist franchise?**
Margins vary widely by location and management, but a well-run studio often lands in the 12%-25% net range on owner cash flow. The category is mature, so margin depends heavily on how effectively the owner drives private events and repeat customers rather than relying on walk-in public classes.

**How much working capital do I need beyond the initial investment?**
Plan on at least $30,000 to $60,000 in additional working capital to cover the first six to twelve months, whether you open new or buy a resale. This buffers slower initial months, seasonal dips in walk-in traffic, and any disruption during an ownership transition.

**Can I run a Painting with a Twist as a semi-absentee owner?**
It's possible but risky, since the business depends heavily on local marketing, event-sales relationships, and hands-on customer experience. Most owners who try a semi-absentee model need a strong, trusted manager in place, which typically reduces overall profit.

**How competitive is the paint-and-sip market in 2027?**
Competition is significant in many metro areas, with independent studios, Pinot's Palette, Wine & Design, and other Painting with a Twist locations all pursuing the same customer base. Brand recognition helps, but differentiation through corporate packages, unique themes, and community partnerships still matters.

**What are the biggest ongoing costs after opening or buying?**
Rent is typically the largest fixed cost, followed by part-time instructor payroll. Art supplies, the 2%-4% marketing contribution, and the 6% royalty add up quickly — labor and rent together commonly consume 50%-65% of revenue, leaving little room for error in an under-marketed studio.

**How important are private and corporate events to making this franchise work?**
Extremely important — successful studios typically generate 40%-60% of revenue from private parties, corporate team-building, and fundraisers. Public walk-in classes alone rarely produce enough volume to sustain a profitable Painting with a Twist location, whether it was opened new or bought as a resale.

## Sources

- International Franchise Association — ifa.org
- U.S. Small Business Administration, 7(a) loan program — sba.gov
- Entrepreneur Franchise 500 — entrepreneur.com
- FranchiseDirect — franchisedirect.com
- IBISWorld industry research — ibisworld.com
- U.S. Census Bureau, household and discretionary-spending data — census.gov
- Franchise Business Review — franchisebusinessreview.com
- Technomic consumer and experiential-spending research — technomic.com

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