PLANO,
Texas, Aug. 15, 2023 /PRNewswire/
-- European Wax Center, Inc. (NASDAQ: EWCZ), the
largest and fastest-growing franchisor and operator of out-of-home
waxing services in the United
States, is proud to be recognized in two
of Entrepreneur's most coveted lists for
franchises - the inaugural 2023 Top Franchises For Multi-Unit
Owners and Best of the Best Franchises. Entrepreneur's Top
Franchises for Multi-Unit Owners unveils the top franchisors with
the best incentives, systems and overall opportunities for
multi-unit ownership. In addition, European Wax Center once again
ranked in this year's highly competitive Franchise 500® Best of the
Best, landing the #1 spot in its respective industry category. Both
rankings featuring European Wax Center are currently live
on Entrepreneur.com and in the July/August issue of
Entrepreneur magazine.
According to Entrepreneur, many of the most
successful franchises provide high-quality services to a target
group of customers. Since 2004, European Wax Center has been doing
just that, building a leading personal care brand that
revolutionized out-of-home hair removal. On July 18th 2023, the brand hit a major milestone
by opening its 1,000th center in Louisville, Kentucky - Fern Creek. With institutional growth partners
representing 40% of European Wax Center's existing centers but 70%
of its future pipeline, the company is on the right path to deliver
its goal of at least 3,000 European Wax Centers over the
long-term.
"We are thrilled that European Wax Center continues to be
recognized by Entrepreneur, the premier source for
business," said David Berg, CEO of
European Wax Center. "We were honored to be listed as the Best of
the Best and one of their Fastest-Growing Franchises of 2023,
ranking #30 out of 1,321. Our success is a direct reflection of our
best-in-class franchise business model and our goal of delivering
an unparalleled experience for both guests and associates. We are
deeply grateful to our dedicated team, passionate franchise
partners, and loyal guests who continue to support us."
European Wax Center recently delivered financial results for the
second quarter of 2023 which reinforced the strength and
consistency of its business model. Franchisees opened 25 net new
centers across 19 states, representing a 12.3% increase versus the
same quarter of fiscal 2022. System-wide sales of $254.2 million grew 10.0%, primarily driven by
net new centers opened and increased spend by guests at existing
centers. Total revenue of $59.1
million increased 10.7%, and Adjusted EBITDA grew 13.8% to
$21.2 million.
The ranking systems for Top Franchises For Multi-Unit
Owners and Best of the Best Franchises are based on
information submitted to Entrepreneur for its annual
Franchise 500® and is part of the Entrepreneur's continuing
effort to best understand and evaluate the ever-changing franchise
marketplace. The growth that European Wax Center continues to
experience year-over-year is a tribute to the hard work and
dedication of the entire company, including all the franchises.
About European Wax Center, Inc.
European Wax Center,
Inc. (NASDAQ: EWCZ) is the largest and fastest-growing franchisor
and operator of out-of-home waxing services in the United States. European Wax Center
locations perform more than 22 million services per year, providing
guests with an unparalleled, professional personal care experience
administered by highly trained wax specialists within the privacy
of clean, individual waxing suites. The Company continues to
revolutionize the waxing industry with its innovative Comfort Wax®
formulated with the highest quality ingredients to make waxing a
more efficient and relatively painless experience, along with its
collection of proprietary products to help enhance and extend
waxing results. By leading with its values – We Care About Each
Other, We Do the Right Thing, We Delight Our Guests, and We Have
Fun While Being Awesome – the Company is proud to be Certified™ by
Great Place to Work®. European Wax Center, Inc. was founded in 2004
and is headquartered in Plano,
Texas. In 2022 its network of 944 centers in 45 states
generated sales of nearly $900
million. For more information, including how to receive your
first wax free, please visit: https://waxcenter.com.
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SOURCE European Wax Center