Bottom line
- Total investment $182K – $340K including a $65K franchise fee.
- No Item 19 financial performance data disclosed — the franchisor chose not to publish revenue figures.
- Rated STRONG with a risk score of 54/100. SBA loan default rate of 0.0% across 34 loans (below the industry average).
- Auditor disclosed a going-concern note — flagged doubt about the franchisor's ability to continue operations. Verify against the latest FDD.
Item 1 · who you're contracting with
The Franchisor
Yale framework · single-unit ROIC
Returns Analysis
Pulls Item 7 (investment) and Item 19 (revenue) from this brand's FDD into the Yale unlevered-ROIC formula. Override any input to stress-test it against your own assumptions.
The model · Yale framework
What would one Hawaii Fluid Art unit return on the cash you put in?
Unlevered ROIC · per unit
39%
In Yale's "attractive" band (30–60%)
Overview
About
Hawaii Fluid Art franchisees operate art studios offering fluid acrylic painting classes, workshops, and art experiences to customers. Daily operations include hosting painting sessions, managing instructor scheduling, handling retail art supplies sales, and maintaining studio facilities. Revenue streams typically include class enrollment fees, private events, and product sales.
Item 7 · what it costs
The Vitals
Item 19
Financial Performance
This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.
Item 20 · unit dynamics
The Growth Chart
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 16 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator — not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee phone area codes (Item 20). Approximate — ported numbers may show the original state, not the franchisee's current location.
Government records
SBA Loan Data
Aggregated from SBA 7(a) loan disclosures, public data unique to FranchiseVerdict.
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Early-stage, high-growth franchise lacking financial transparency and proven unit economics; explosive growth rate and absent Item 19 data create significant ROI validation risk.
Score breakdown · what drove the 54 / 100 rating
- 01MINORNo average revenue or net income disclosure (Item 19) — impossible to validate ROI claims or unit economics
- 02MINORExplosive 600% YoY unit growth (24 units) suggests either unsustainable expansion or cherry-picked growth period; typical mature franchises grow 10-30% annually
- 03MINORHigh initial investment ($182k-$340k) combined with $750/month minimum royalty creates immediate cash flow pressure on new franchisees
- 04MINORHybrid royalty structure (8% or $750 minimum) penalizes low-revenue operators; break-even threshold unclear
- 05MEDOnly 24 units system-wide suggests immature franchise model with limited operational history and peer support network
- 06MINORProtected territory provides no competitive advantage if brand lacks consumer awareness or replicable unit economics
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
Item 11
Training & Operations
Item 20
Franchisee Contacts
Phone numbers extracted directly from this brand's FDD Item 20. After purchase, you'll also receive a list of validation questions tailored to this brand.
Franchisee contacts
19 numbers
One-time purchase · CSV download · Validation questions included
FDD download
Hawaii Fluid Art · FDD (2024) PDF