If you’re an aspiring entrepreneur dreaming of running their own business, but lack the experience or know-how to get a great business idea off the ground, then franchising may be an option worth considering.
Passionate about arts and crafts too? Then Pinspiration could be your golden ticket to starting a business you can be passionate about, have lots of fun with – and earn lots of money too!
Founded in 2015, Pinspiration began franchising in 2018 and has been growing quickly ever since with 33 locations now spread across the USA, from Nevada all the way to Florida.
In this article, we’ll take a look at some of the key factors that set Pinspiration apart as a franchise and why you should consider investing your time and money into this unique and creative DIY studio.
Low Franchise Cost
Like any new business, there will be upfront costs needed to invest in things like real estate (for businesses that need on-site locations, like Pinspiration), supplies and equipment, furniture, insurance, training, and so on. What you’ll need all depends on the industry and location. An online, home-based business, for example, may incur relatively low overheads. A full-service restaurant, on the other hand, will be far more expensive.
With a franchise fee of just $33,000, just $50,000 liquid capital needed to qualify, and an initial investment of between $109-228,000 required to get a franchise up and running, Pinspiration’s franchise fees are relatively low compared to some other popular franchises.
Let’s take McDonald’s as an example. The franchise fee is $45,000, and applicants must have a minimum of $500,000 available in liquid assets in order to qualify. Big difference! Applicants must also expect to shell out between $1,314,500 and $2,306,500.
Pinspiration is a low-cost, high-opportunity franchise that you can have up and running for just a few hundred thousand dollars, compared to a few million dollars when it comes to bigger more established franchises.
Unique Selling Proposition
Know of many DIY craft studios, that’s great for both kids and adults, lets people unleash their creativity and inner artist, without having to worry about supplies or cleaning up after? Exactly!
Founder Brooke Roe came up with the idea after spending hours on sites like Pinterest but with no finished projects to show for it. She began looking deeper into why this was the case, and whether it was just her, and found that she wasn’t alone. The main creative barriers for most people were lack of space, the expense of tools, fear of failure, difficulty getting supplies, and the daunting idea of cleaning up. So she decided to do something about it…and came up with Pinspiration!
Pinspiration offers a very unique experience for men, women and children of all ages. With an in-house studio filled with all the supplies anyone needs, and a changing rota of classes and workshops based off what’s trending on crafting sites like Pinterest, there really is nothing like it.
Low Competition
Given the unique idea and experience that a DIY craft studio like Pinspiration provides, this next point is a logical consequence: there’s not much competition out there!
The rules or a bit different for established brands, like 7-Eleven, Subway or Marriott International. These kinds of brands can usually find success despite competition simply on the strength of their brand alone. But for new franchises like Pinspiration, founded just 7 years ago, it takes a lot more than brand strength.
For one, it takes talent, hard work, and lots of capital, of course. The franchise must have a proven business model that works with the right support in place. And there must be a market fit, otherwise, people won’t want to use it.
Thankfully, Pinspiration ticks all of these boxes. But perhaps one of the biggest challenges is finding a niche where there is low competition. But that’s exactly what Pinspiration has done in establishing a DIY craft studio that let’s people engage their creative side by taking part in unique crafting sessions and workshops with family, friends, kids, or even for team-building corporate events. It’s a win-win!
Growing Fast!
If there is one factor that speaks to the high demand and market fit of a concept like the one Pinspiration brings to the table, it’s how quickly the company is growing. And believe it, Pinspiration is flying when it comes to its franchise growth!
Since it started franchising with just one studio in 2018, Pinspiration has grown to now have a whopping 33 franchises all over the United States – that’s a 3200% increase in 4 years! From Arizona to Iowa, New Jersey to New Mexico, the Pinspiration franchise took off, largely due to the three factors mentioned above – low franchise fees, unique selling point, and low competition.
Did you know Pinspiration was named as one of the top 500 franchises to own in 2022 in Entrepreneur’s Franchise 500? Go us!
The bottom line
Pinspiration is one of the fastest growing franchises in the USA today. And with low franchise costs, low competition, and such a unique experience offered by our 33 locations around the country, you can bet it will be a safe and profitable venture.
Got any questions about franchising? You can check out our franchise FAQ page here.
Want to apply? We’re currently accepting applications! Head over to our franchise page and complete the form which takes just 5 minutes to find out if you qualify.