Carre D’artistes Franchise Cost, Revenue & Review 2026
- Investment
- $251K – $513K
- Disclosed sales
- $786K
- gross sales, not profit
- SBA charge-off
- Not SBA-matched
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
Carré d'Artistes is an art retail franchise operating galleries that sell original, curated artwork from a range of artists. Franchisees run the galleries, managing artist curation, sales, and customer service.
FranchiseVerdict summary · 2026
A CARRE D’ARTISTES franchise requires a total initial investment of $251K – $513K, including a $35K franchise fee and an ongoing 7.0% royalty[2]. Per the 2025 FDD, average unit revenue was $786K[2]. FranchiseVerdict grade: D (Below average), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: medium - issued 12 to 24 months ago; a newer filing is likely on file
Evidence: partial✓ Investment (Item 7)✓ Item 19 status✓ Units and owners (Item 20)✗ SBA loan coverage✓ Litigation (Item 3)✓ Financial statements (Item 21)✓ Franchisor identityhow this is scored7 of 8 headline figures on this page cite a page of the filing; the rest are marked “Not cited” beside the figure.
Overview
- Investment
- $251K – $513K
- 20th pct Recreation & …
- Avg gross sales
- $786K
- Company-owned only1 outlet
- Royalty
- 7.0%
- 26th pct Recreation & …
- Units
- 1
- 4th pct Recreation & …
- SBA charge-off
- N/A
Quick verdict · Recreation & Entertainment · color = vs category peers
Green = favorable by >10% vs Recreation & Entertainment median · No shading = within ±10% · Red = unfavorable by >10% · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Bottom line
- COSTTotal investment $251K – $513K including a $35K franchise fee, 7.0% ongoing royalty.
- RETURNSAverage unit revenue of $786K/year (median $786K) (company-owned outlets only - not franchisee performance).
- RISKVerdict D (Below average), verdict score 31/100 (higher is better).
- GROWTHFlat: no net change in franchised outlets in the latest year (0 opened, 0 closed) (Item 20).
- FLAGRevenue data based on only 1 outlet. Treat as directional, not definitive. Ask franchisees directly for current unit economics.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- CARRE D'ARTISTES GREAT AMERICA LLC
- Parent company
- Carré d'artistes USA Corp.
- FDD Item 1, page 6 of the 2025 FDD
- Ultimate parent
- Carré d'artistes SAS (Carré d'artistes FRANCE)
- FDD Item 1, page 6 of the 2025 FDD
- Predecessor
- Carré d'artistes SAS
- Prior franchisor entity
- CEO title
- Director
- Stéphanie Tosi
- Incorporated in
- NY
- HQ
- 336 AZ-179, Suite B121, Sedona, AZ 86336
- Auditor
- International Attest Solutions, LLC
- Audited financials
Overview
About
- CEO
- Stéphanie Tosi
- Headquarters
- AZ
- Founded
- 2001
- FDD year
- 2025
- States available
- 1
Can you afford it, and what does the money buy?
Entry cost runs 32% below the typical recreation & entertainment franchise.
Source: FDD 2025 · Items 5–7
FDD Item 7 · 2025 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $35K | $35K |
| Working capital (3–6 mo) | $5K | $20K |
| Equipment, build-out, other | $211K | $458K |
| Total initial investment | $251K | $513K |
Source: CARRE D’ARTISTES 2025 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $251K – $513K
- Top 40% of category vs category
- Liquid capital req'd
- $5K – $20K
- Top 40% of category vs category
- Franchise fee
- $35K – $35K
- Top 40% of category vs category
- Royalty
- 7.0%
- typical 6–8%
- Ad fund
- 0.0%
- typical 3–5%
- Total fee load
- 9.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 7.0% of net sales |
| Marketing / ad fund | 0.0% |
| Technology fee | $0 |
| Transfer fee | $30K |
| Renewal fee | $15K |
| Inventory (initial) | $60K – $60K |
| Total fee load | 9.0% of rev |
What do units actually make?
Average unit sales land near the recreation & entertainment norm.
Company-owned outlets only - not franchisee performance
Based on a single outlet - not a system average
Source: FDD 2025 · Item 19
Single-unit · not modelled
Returns at a glance
An FDD discloses gross sales, not profit, and the operating costs that turn one into the other are in no filing. We publish no modelled return for CARRE D’ARTISTES until someone supplies them — yours, in the models below.
—
Not modelled yet
An FDD discloses gross sales, not profit. We hold no sourced figure for COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
Total invested capital · disclosed
$394K
Item 7 initial investment plus working capital, as filed — the one figure here that needs no assumption.
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
What one unit earns on your invested capital
Model A · Single-Unit Return
Computes unlevered return on invested capital (ROIC) for a single franchise unit, read against the 30–60% reference band · Yale SOM, Post-MBA Path Exhibit 2 (2023). Below that band a passive index fund likely outperforms; above it the franchisor has pricing power you're subsidizing.
Note: Item 19 revenue is what the franchisor discloses, and it is the top line only — gross sales are not profit. No FDD discloses the operating costs that turn one into the other, so those fields start empty and nothing is modelled until you supply them from your own lease quote, labor market and build-out budget.
Returns model · single-unit ROIC
What would one CARRE D’ARTISTES unit return on the cash you put in?
Illustrative category typicals — not sourced to any filing, survey or sample. Replace them with figures from franchisee validation calls before you rely on the output.
Unlevered ROIC · per unit
Your modelled return on total invested capital, before any debt financing.
—
An FDD discloses gross sales, not profit. We hold no sourced figure for COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
What 25 units return when you use SBA financing
Model B · Return on Equity: Debt-Financed Acquisition
Models a 25-unit portfolio acquisition financed with an SBA 7(a) loan. Shows equity IRR (your return on cash invested), DSCR (how safely the cash flow covers debt service), and the capital stack (SBA + seller + equity breakdown).
This is the “search fund” or “entrepreneurship through acquisition” scenario: you buy an existing multi-unit operator, use leverage to amplify returns, and either operate or hire management. The 25-unit size is the typical minimum for an SBA-backed franchise portfolio acquisition to pencil as a full-time income.
What “return on equity” means here: if you put in $500K of your own cash and the business generates enough EBITDA to pay down debt and grow, your equity IRR is the annual return on that $500K, including the value created when you eventually sell. Target IRR for a search fund is typically 25–35%.
Not modelled yet
An FDD discloses gross sales, not profit. We hold no sourced figure for COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
A 25-unit return is built on a per-unit EBITDA. Fill in the operating costs in Model A above and this model runs on that figure, or take the whole scenario to the full ROI workbench, where the portfolio and LBO models accept your own per-unit economics directly.
These models are for research and scenario planning only. Not investment advice. Actual results depend on your specific location, management, and market conditions. Consult a franchise attorney and accountant before signing any franchise agreement.
Item 19 · Source: 2025 FDD
Financial Performance
Company-owned outlets only - not franchisee performance
Based on a single outlet - not a system average
- Avg gross sales
- $786K
- Per unit, per year
- Median gross sales
- $786K
Gross sales are revenue before expenses — not profit. Actual owner earnings depend on rent, labor, royalties, marketing fees, and debt service.
- Item 19 type
- gross sales
- Sample size
- 1 outlet
- vs category median 5 · small
- Reported figure
- $786KCited, not corroborated — printed on page 40 of the 2025 FDD. Nothing else in our record independently restates or re-derives it.
- A single outlet — not a range
- Reporting year
- 2024
- Fiscal year the figures cover
- Source filing
- FDD 2025
- Disclosed in the 2025 filing, covering 2024
- Transparency
- 3 / 10
- vs category median 4 / 10 · below
Compared against 165 Recreation & Entertainment brands
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Unit economics
Average unit generates $786K/year in gross sales. Revenue-to-investment ratio: 2.1x. Company-owned outlets only - not franchisee performance.
Fee burden
Total ongoing fee load of 9.0% (near the Recreation & Entertainment median).
Disclosure
Transparency score 3/10 — moderate disclosure depth. Average and range data are available but detailed cohort breakdowns may be limited. Sample size of 1 outlet — treat as directional only.
Source: FDD Item 19 financial performance representations and publicly filed FDD data. Past performance is not indicative of future results. Verify all figures with the franchisor and current franchisees before making any investment decision.
vs Recreation & Entertainment medians
How Carre D’artistes Compares
Category median of published Recreation & Entertainment brands that report the figure; the middle half spans the 25th to 75th percentile and n counts the brands behind it. Medians are used because a few very large systems pull an average far from the typical brand. Revenue is disclosed gross sales, not profit.
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 1
- Opened
- 0
- Last reporting year
- Closed
- 0
- Turnover rate
- N/A
- Company-owned
- 1
- Corporate units in the system
- % franchised
- 0%
- vs corporate-owned
Last fiscal year · Item 20 exits and transfers
- Signed, not yet open
- 0
- 0.00 per open outlet · Item 20 Table 5
- Projected new
- 1
- Franchisor's next-year forecast
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 12 · 1 state reported
The Territory Map
FDD Item 12 reports the state count, but the specific list isn't in our current data. The map will appear once we re-extract from the FDD or enough franchisee contacts are available.
1
states with franchisees (per FDD Item 12)
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
No SBA loan data available for this brand.
What could kill this investment?
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Litigation (Item 3)
Subject: the franchisor is a named party (defendant).
Three concluded lawsuits involving Artier LLC (Florida franchisee) and Societe Art Fix Gallery (Bahrain/Qatar/UAE franchisee), all settled January 2018 for $112,000 plus $10,000 forgiven. California CDFPI consent order (April 2022) for including non-peer-reviewed audited financials; $20,000 penalty paid.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · International Attest Solutions, LLC
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Franchisor had $0 royalties and fees revenue in both FY2024 and FY2023; it does not operate galleries. Audited financials (balance sheets as of Dec 31, 2024 and 2023; statements of operations and member's deficiency) opine fairly presented under US GAAP; report issued in Chicago, IL dated March 27, 2025. Member's deficiency (negative net worth) of $(111,469). Auditor firm name not legible in OCR text (logo/signature only).
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
Score breakdown · what drove the 31 / 100 verdict
- 01MINOROnly 1 unit reported with unknown growth trajectory suggests system collapse or severe underperformance
- 02HIGHThree concluded breach of contract litigations (2018) plus California DFPI consent order (2022) indicate persistent franchisor compliance and disclosure issues
- 03MINORUnprotected territory creates direct competition risk and cannibalization potential
- 04MEDHigh initial investment ($251K–$512K) relative to single-unit system and undisclosed net income creates negative risk/reward ratio
- 05MINORCalifornia DFPI consent order regarding unaudited financial statements suggests material misrepresentation in past FDD offerings
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 9.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2025 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 1 |
| Territory type | No territory protection |
| Protected territory | No |
| Exclusive territoryℹ | No |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 5 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Curable defaultsℹ | 2 |
| Mandatory arbitration | No |
| Arbitration location | Arizona |
| Jury trial waiver | No |
| Governing law | AZ |
| Litigation count | 3 |
View Item 3 litigation summary
Three concluded lawsuits involving Artier LLC (Florida franchisee) and Societe Art Fix Gallery (Bahrain/Qatar/UAE franchisee), all settled January 2018 for $112,000 plus $10,000 forgiven. California CDFPI consent order (April 2022) for including non-peer-reviewed audited financials; $20,000 penalty paid.
Items 10, 11
Training & Operations
- Classroom training
- 14 hrs
- On-the-job training
- 25 hrs
- Training location
- Sedona AZ or Eguilles, France (classroom); affiliate gallery in Sedona or Paris (OJT)
- Ongoing training
- Required
- Time to open
- 6 mo
- From signing to launch
- Site selection
- Franchisee with franchisor approval
- Franchisor financing
- Not offered
- Item 10
- POS system
- Solusquare
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Solusquare
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a CARRE D’ARTISTES franchise?
The total investment to open a CARRE D’ARTISTES franchise ranges from $251K – $513K, with an initial franchise fee of $35K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do CARRE D’ARTISTES franchise owners earn?
According to Item 19 of the CARRE D’ARTISTES FDD, the average gross sales per unit is $786K. The median is $786K. Important context: Company-owned outlets only - not franchisee performance; Based on a single outlet - not a system average. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
Who owns CARRE D’ARTISTES?
CARRE D’ARTISTES is franchised by CARRE D'ARTISTES GREAT AMERICA LLC. Its parent company is Carré d'artistes USA Corp.. The ultimate parent named in the FDD is Carré d'artistes SAS (Carré d'artistes FRANCE). Source: FDD Item 1, 2025 filing.
What is Item 19 in the CARRE D’ARTISTES FDD?
The FDD section where a franchisor may disclose financial performance of its outlets. Disclosure is optional and formats vary; figures are typically gross sales, which is revenue before expenses, not profit. FranchiseVerdict extracts these figures directly from the CARRE D’ARTISTES FDD and qualifies whose outlets they describe.
What is CARRE D’ARTISTES's franchise failure rate?
SBA 7(a) loan charge-off data is not available for CARRE D’ARTISTES (fewer than 10 loans on file). Charge-off rates are one way to gauge franchise risk, but not all franchise loans go through the SBA program. We recommend reviewing turnover and closure data in the FDD and speaking with current franchisees.
How many CARRE D’ARTISTES franchise locations are there?
As of their most recent FDD filing, CARRE D’ARTISTES has 1 total units in the United States.
Is CARRE D’ARTISTES a good franchise to buy?
FranchiseVerdict rates CARRE D’ARTISTES as a D-grade franchise with a verdict score of 31 out of 100 (higher is better). The grade is a deterministic score built from six weighted dimensions — financial health, unit economics, unit growth, scale, legal, and transparency — then calibrated against SBA loan charge-off rates and FDD age. Transparency is one of the six, so a filing that discloses less scores lower on that dimension than one that discloses more. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
For franchisors
Are you the franchisor?
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.