Carre D’artistes Franchise Cost, Revenue & Review 2026
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 →
Data last verified · figures per the 2025 FDD issuance
Overview
- Investment
- $251K – $513K
- 21st pct Recreation & …
- Avg gross sales
- $786K
- Company-owned onlyn=18th pct Recreation & …
- Royalty
- 7.0%
- 24th 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 avg · 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).
- FLAGRevenue data based on only 1 reporting unit. 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.
- Ultimate parent
- Carré d'artistes SAS (Carré d'artistes FRANCE)
- 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
- Franchisor revenue
- $0
- vs $0 prior year
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 71% 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%
- percentage · 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 gross sales |
| Marketing / ad fund | 0.0% of gross sales |
| 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 run 21% below the recreation & entertainment norm.
Company-owned outlets only - not franchisee performance
Based on a single reporting unit - not a system average
Source: FDD 2025 · Item 19
Single-unit · estimated
Returns at a glance
Indicative numbers using FDD Item 7 / Item 19 inputs and category-benchmarked cost ratios. Full single-unit, 25-unit portfolio, and LBO models (with every input editable to stress-test your own scenario) live on the financials page.
Store EBITDA · annual
$126K
16.0% margin
Unlevered ROIC
32%
EBITDA / total invested capital
Payback
3.1 yrs
cash-on-cash, unlevered
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. The target band for an attractive franchise is 30–60% ROIC. Below that and a passive index fund likely outperforms; above that and the franchisor has pricing power you're subsidizing.
Note: Item 19 revenue is what the franchisor discloses. It's the top line only. Operating costs below are category estimates. Override them to match your real 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?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
32%
Within the 30–60% "attractive franchise" band
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%.
Levered LBO scenario · Yale Crease Capital framing
What would 25 CARRE D’ARTISTES units return on equity?
Equity IRR · 5-yr
49.9%
7.57× MOIC
Year-1 DSCR
1.88×
EBITDA ÷ debt service
Equity required
$1.4M
on $7.1M purchase
Total debt
$5.7M
SBA $3.5M + senior + seller note
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 reporting unit - 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
- vs category median 5 · small
- Reported figure
- $786K
- 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 166 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 average).
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 unit — 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 averages
How Carre D’artistes Compares
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
- 0.0%
- Company-owned
- 1
- Corporate units in the system
- % franchised
- 0%
- vs corporate-owned
3-year detail · Item 20
- Opened (3yr)
- 0
- Closed (3yr)
- 0
- Terminated (3yr)
- 0
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 0
- Reacquired (3yr)
- 0
- Franchisor bought back
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
Single-unit franchise system with documented regulatory violations, litigation history, going concern issues, and no earnings substantiation presents extreme risk of franchisor insolvency and franchisee failure.
Litigation (Item 3)
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.
Largest disclosed settlement: $112,000
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · International Attest Solutions, LLC
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
- 03HIGHGoing Concern = False indicates financial instability at franchisor level
- 04MINORUnprotected territory creates direct competition risk and cannibalization potential
- 05MEDHigh initial investment ($251K–$512K) relative to single-unit system and undisclosed net income creates negative risk/reward ratio
- 06MINORCalifornia 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 | none |
| 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 reporting unit - not a system average. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
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, including 0 franchised units and 1 company-owned units.
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), based on our analysis of investment costs, revenue data, SBA loan performance, and growth trends. 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
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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.