I can read a lot of "free" advice in this thread, and a fair amount of judgment.
Heck, I also gave some I guess, but that was restricted to maybe shrinking the "factory" (knowing that if she doesn't make pedals anymore, she may not need all the equipment and - well ventilated - space for painting, which is expensive), and possibly otherwise start outsourcing the production of her pedals (which I know may not look enticing, but is the only way of selling any these days IMO, unless maybe you make handmade, 100% custom ones with gold and diamond casing maybe, and you'll seel one a year).
Now those would be things to try, but I don't mean to neither know exactly what Fran's constraints are, nor whether those things would actually turn out any better than what she currently does. As I said, life is constantly changing and nothing is definitive anyway. You may come up with the best of intentions and end up worse than you ever were. So I don't blame her for sticking to what has actually *worked* for her, even if that's not very stable. It *has* objectively worked. And it's quite possible that any of the stuff we suggested in this thread would work out less well and could even get her bankrupt.
As the saying goes, advisors are not the payers.