The stand comes fully assembled and simply folds out to working order. You could just fold this back up and bring to gig if you need to bring several instruments. The foam rings are a bit hard to move around, but that also means they sit stiff when you have them where you want them.
On that note, I personally would have liked twice as many rings to keep the guitars perfectly still. As it is now, you have one ring on each side of the guitar but on opposing sides of the stand. This mean the guitars can still be twisted sideways in one direction. Not that they would do that naturally, but if you buy extension kits to increase the number of guitars there is always a risk of them bumping into each other when you take them in and out of the stand.
With the extension kits I have increased the capacity to 9 electric guitars. Instructions said you could fit 10, but I wouldn't recommend it as I find 9 to be pretty crammed.
All in all, this is a fantastic stand and I would definitely buy another if I needed more space.