Museum of Illusions Franchise Cost, Revenue & Review 2026
- Investment
- $1.9M – $6.6M
- Disclosed sales
- $3.0M
- gross sales, not profit
- SBA charge-off
- Not SBA-matched
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
Museum of Illusions is a recreation franchise operating interactive museums full of optical illusions and hands-on exhibits. Franchisees run the venues, managing ticketing, exhibits, staffing, and events.
FranchiseVerdict summary · 2026
A Museum of Illusions franchise requires a total initial investment of $1.9M – $6.6M, including a $100K franchise fee and an ongoing 15.0% royalty[2]. Per the 2025 FDD, average unit revenue was $3.0M[2]. FranchiseVerdict grade: A (Strongest tier), 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: strong✓ 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
- $1.9M – $6.6M
- 48th pct Recreation & …
- Avg gross sales
- $3.0M
- 15th pct Recreation & …
- Royalty
- 15.0%
- 51st pct Recreation & …
- Units
- 20
- 30th 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 $1.9M – $6.6M including a $100K franchise fee, 15.0% ongoing royalty.
- RETURNSAverage unit revenue of $3.0M/year (median $3.3M), with an estimated 18% cash-on-cash return (based on EBITDA).
- RISKVerdict A (Strongest tier), verdict score 75/100 (higher is better).
- GROWTHPositive: net +1 franchised outlets in the latest year (1 opened, 0 closed) (Item 20).
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- RP Illusions, Corp.
- Parent company
- Metamorfoza d.o.o.
- FDD Item 1, page 8 of the 2025 FDD
- Ultimate parent
- Invera Investments Cooperatief
- FDD Item 1, page 8 of the 2025 FDD
- CEO title
- Chief Executive Officer
- Kim Schaefer
- Incorporated in
- DE
- HQ
- 7975 N. Hayden Road, Suite D-280, Scottsdale, Arizona 85258
- Auditor
- Anthony J. Cucciniello, CPA LLC
- Audited financials
- Franchisor revenue
- $42.8M
- vs $18.6M prior year
- Management churn noted
- Frequent turnover
- Item 2 disclosed frequent executive changes
Overview
About
- CEO
- Kim Schaefer
- Headquarters
- AZ
- Founded
- 2017
- FDD year
- 2025
- States available
- 16
Can you afford it, and what does the money buy?
Entry cost runs 658% above the typical recreation & entertainment franchise.
Source: FDD 2025 · Items 5–7
Full Item 7 breakdown17 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Feenot refundable | $100K | $100K | |
| Initial Training and Opening Assistance Expensesnot refundable | $15K | $20K | |
| Rent - 3 Monthsnot refundable | $30K | $250K | |
| Security Deposits | $20K | $1.0M | |
| Leasehold Improvementsnot refundable | $1.3M | $4.0M | |
| Exhibitsnot refundable | $200K | $450K | |
| Equipment, Furnishings and Fixturesnot refundable | $25K | $70K | |
| Computer Systemnot refundable | $2K | $15K | |
| Website Set-Upnot refundable | $8K | $8K | |
| Insurance - 3 Monthsnot refundable | $1K | $15K | |
| Permits and Licensesnot refundable | $5K | $50K | |
| Initial Inventory | $35K | $70K | |
| Signagenot refundable | $15K | $30K | |
| Grand Opening Advertisingnot refundable | $50K | $100K | |
| Architect and Design Feesnot refundable | $100K | $150K | |
| Professional Feesnot refundable | $5K | $25K | |
| Additional Funds - 3 monthsnot refundable | $75K | $200K | |
| Total initial investment | $1.9M | $6.6M |
Line items extracted from FDD Item 7. Ranges reflect the franchisor's stated low and high per line. Total is the sum of line-item lows / highs — actual costs may fall outside this range depending on market and build-out scope.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $1.9M – $6.6M
- Middle of category vs category
- Liquid capital req'd
- $75K – $200K
- Middle of category vs category
- Franchise fee
- $100K – $100K
- Middle of category vs category
- Royalty
- 15.0%
- Set by a formula · typical 6–8%
- Ad fund
- 0.0%
- typical 3–5%
- Total fee load
- 15.0%
- vs 9–13% typical
- Payback period
- 5.4 yrs
- From FDD / Item 19
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 15.0% of gross sales |
| Marketing / ad fund | 0.0% |
| Technology fee | $2K |
| Training fee | $2K |
| Transfer fee | $50K |
| Renewal fee | $0 |
| Inventory (initial) | $35K – $70K |
| Total fee load | 15.0% of rev |
At 15.0% total fee load, roughly $457K per year goes to the franchisor before you pay a single operating expense.
What do units actually make?
Average unit sales run 284% above the recreation & entertainment norm.
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 Museum of Illusions 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
$4.4M
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
FDD-reported earnings
The FDD reports $1.4M as EBITDA. This is a disclosed figure, not our estimate — we publish no modelled profit for Museum of Illusions.
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 Museum of Illusions 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
- Avg gross sales
- $3.0M
- Per unit/yr · from the Item 19 franchised-cohort breakdown (no single system-wide average disclosed)
- Median gross sales
- $3.3M
- Avg ebitda
- $1.4M
- Reported as EBITDA in FDD Item 19
- Cash-on-cash
- 18.4%
- Based on EBITDA / investment midpoint
Gross sales are revenue before expenses — not profit. Actual owner earnings depend on rent, labor, royalties, marketing fees, and debt service.
- Item 19 type
- Total Sales by location and EBITDA for franchised locations
- Sample size
- 8 outlets
- vs category median 5
- Range (low → high)
- $352K→$4.4MCited, not corroborated — printed on page 50 of the 2025 FDD. Nothing else in our record independently restates or re-derives it.
- Cohort dispersion (min → max)
- Reporting year
- 2024
- Fiscal year the figures cover
- Source filing
- FDD 2025
- Disclosed in the 2025 filing, covering 2024
- Transparency
- 6 / 10
- vs category median 4 / 10 · above
Compared against 165 Recreation & Entertainment brands
Revenue is only 0.7x the investment. This means each unit may take 5+ years to recoup the initial outlay at typical margins.
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 $3.0M/year in gross sales. Median ($3.3M) exceeds the average — distribution is bottom-heavy but most units perform well. Revenue-to-investment ratio: 0.7x.
Fee burden
Total ongoing fee load of 15.0% — above the Recreation & Entertainment median of 8.0%.
Disclosure
Transparency score 6/10 — this franchisor discloses detailed breakdowns (quartiles, segments, or cohort data). Buyers can model unit economics with higher confidence.
Operator retention
System expanding at 57.1% CAGR over 3 years across 20 units — operators are staying and new ones are joining.
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 Museum of Illusions 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
- 20
- Opened
- 1
- Last reporting year
- Closed
- 0
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- N/A
- Company-owned
- 9
- Corporate units in the system
- % franchised
- 55%
- vs corporate-owned
- Net growth (3-yr)
- +57.1%
- Net unit change over 3 years
- 3-yr CAGR
- +57.1%
- Compounded over last 3 years
Last fiscal year · Item 20 exits and transfers
- Terminated
- 0
- Not renewed
- 0
- Transferred
- 0
- Reacquired
- 0
- Franchisor bought back
- Signed, not yet open
- 0
- 0.00 per open outlet · Item 20 Table 5
- Projected new
- 0
- Franchisor's next-year forecast
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 5 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 contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
Where the owners are · Item 20 owner list
5 current owners across 5 states.
- AZ 1
- FL 1
- IL 1
- MO 1
- TX 1
Counts only, from the list the franchisor prints in Item 20. Names and phone numbers are for your own due diligence and are not shown here.
Fast growth in a small system. Newer franchisors expanding quickly may not yet have the support infrastructure of larger systems.
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
Moderate-to-caution risk profile: emerging brand with unproven system maturity, opaque financial disclosures, aggressive multi-tiered royalties, and slow unit growth despite attractive unit-level returns.
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
No litigation required to be disclosed in Item 3.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Anthony J. Cucciniello, CPA LLC
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
ⓘ These are the parent company's consolidated financials (the parent guarantees the franchisor), not this brand's standalone results — the figure reflects the whole corporate group, not this brand alone.
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
- Can negotiate own supplier terms: No
Score breakdown · what drove the 75 / 100 verdict
- 01MINORHigh royalty burden: 15% + 15% + 5% creates complex multi-tier fee structure that could exceed 35% of total revenue in high-event locations
- 02MINORWide investment range ($1.9M–$6.5M) suggests inconsistent unit economics or significant geographic/format variability with unclear ROI drivers
- 03MEDModest unit growth of only 10% YoY with just 20 total units indicates slow franchise expansion and limited proven scalability
- 04MINORHigh initial franchise fee ($100K) combined with $1.9M+ startup cost creates significant downside risk if unit underperforms
- 05MINORExperiential venue model is location-dependent and vulnerable to post-pandemic traffic volatility, economic downturns, and tourism cycles
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 15.0% 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 | 10 years |
| Allowed renewalsℹ | 1 |
| Territory type | Protected territory |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Online sales rightsℹ | Granted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 100 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 1 |
| Curable defaultsℹ | 3 |
| Mandatory arbitration | Yes |
| Arbitration location | Maricopa County, Arizona |
| Jury trial waiver | Yes |
| Governing law | AZ |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation required to be disclosed in Item 3.
Items 10, 11
Training & Operations
- Classroom training
- 0 hrs
- On-the-job training
- 49 hrs
- Training location
- Franchised Business (on-site) and Remote
- Ongoing training
- Required
- Time to open
- 18 mo
- From signing to launch
- Site selection
- Franchisee, subject to franchisor approval
- Franchisor financing
- Not offered
- Item 10
- POS system
- Eden and Roller softwares
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Eden and Roller softwares
Item 20 · call current owners
Franchisee Contacts
5 owners to call
Name · phone · city · state. Extracted from FDD Item 20
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Museum of Illusions franchise?
The total investment to open a Museum of Illusions franchise ranges from $1.9M – $6.6M, with an initial franchise fee of $100K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Museum of Illusions franchise owners earn?
According to Item 19 of the Museum of Illusions FDD, the average gross sales per unit is $3.0M. The median is $3.3M. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
Who owns Museum of Illusions?
Museum of Illusions is franchised by RP Illusions, Corp.. Its parent company is Metamorfoza d.o.o.. The ultimate parent named in the FDD is Invera Investments Cooperatief. Source: FDD Item 1, 2025 filing.
What is Item 19 in the Museum of Illusions 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 Museum of Illusions FDD and qualifies whose outlets they describe.
What is Museum of Illusions's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Museum of Illusions (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 Museum of Illusions franchise locations are there?
As of their most recent FDD filing, Museum of Illusions has 20 total units in the United States, including 11 franchised units and 9 company-owned units. 1 new units were opened in the latest reporting year.
Is Museum of Illusions a good franchise to buy?
FranchiseVerdict rates Museum of Illusions as a A-grade franchise with a verdict score of 75 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?
If you represent Museum of Illusions, you can request corrections or provide updated information.
Other Recreation & Entertainment franchises
Compare similar franchise opportunities in the Recreation & Entertainment category
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.