We could see solo spinoffs of some of the characters that are a hit with fans as well as sequels of this movie which will apparently set up some kind of team dynamic with all these folklore characters as a group called the Statesman.
Not to be confused with the team of the same name from the last Kingsman sequel, which is apparently getting its own movie at some point as well.
The announcement of John Henry and the Statesmen calls the project out as a “brand new franchise” and also refers to it as a “shared universe” so clearly all involved see the potential in this idea to be more than one movie.