Shot of Art
Formerly known as Spirit of a Fighter
Bottom line
- Total investment $137K – $330K including a $49K franchise fee, 6.0% ongoing royalty.
- Average unit revenue of $737K/year (median $810K). Estimated payback in 1.4 years.
- Rated STRONG with a risk score of 50/100.
- 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 Shot of Art unit return on the cash you put in?
Unlevered ROIC · per unit
42%
In Yale's "attractive" band (30–60%)
Levered LBO scenario · Yale Crease Capital framing
What would 25 Shot of Art units return on equity?
Equity IRR · 5-yr
49.9%
7.57× MOIC
Year-1 DSCR
1.88×
EBITDA ÷ debt service
Equity required
$1.2M
on $5.9M purchase
Total debt
$4.7M
SBA $2.9M + senior + seller note
Overview
About
Shot of Art franchisees operate experiential art studios offering group painting classes, typically in social/entertainment settings. Day-to-day operations include managing instructor schedules, coordinating group bookings, handling supplies/inventory, providing customer service, and marketing locally to drive recurring class attendance and private event bookings.
Item 7 · what it costs
The Vitals
Item 19
Financial Performance
Item 20 · unit dynamics
The Growth Chart
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 13 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.
No SBA loan data available for this brand.
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Early-stage art franchise with minimal unit count, unverified financial claims, and limited franchisee reference availability presents moderate-to-high validation risk despite positive unit economics.
Score breakdown · what drove the 50 / 100 rating
- 01MEDOnly 4 existing units with unknown growth trajectory suggests early-stage/stagnant system with limited proven scalability
- 02MEDNo Item 19 financial performance representations disclosed despite $736K average revenue claim — cannot independently verify earnings
- 03MINORHigh initial investment range ($137K-$330K) relative to only 4 franchisees limits reference pool and increases validation difficulty
- 04MINOR5-year term is relatively short and may indicate franchisor uncertainty or franchisee concerns about long-term viability
- 05MINORFranchise fee ($49K) represents 36-64% of low-end investment, creating significant sunk cost before operations begin
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
13 numbers
One-time purchase · CSV download · Validation questions included
FDD download
Shot of Art · FDD (2025) PDF