PLANO, Texas, Feb. 22, 2024 /PRNewswire/ — European Wax Center (NASDAQ: EWCZ), the largest and fastest-growing franchisor and operator of out-of-home waxing services in the United States, was recognized as one of the top 500 franchises in Entrepreneur‘s Franchise 500®, the world’s first, best, and most comprehensive franchise ranking. For 45 years, the annual Entrepreneur Franchise 500® has been a highly sought-after honor in the franchise industry and recognized as an invaluable resource for potential franchisees. The 2024 Franchise 500® ranks European Wax Center as #43 overall and the #1 franchise in the waxing category for its outstanding performance in unit growth, financial strength and stability, and brand power. The ranking is currently available for viewing on Entrepreneur.com.
“Every brand on the Franchise 500 has its own unique story, but they all collectively make the same statement: Franchising is strong and resilient, is full of innovation and opportunity, and provides a powerful entrepreneurial path for many people,” says Jason Feifer, Editor in Chief of Entrepreneur magazine. “Our 45th annual ranking is full of companies with fresh ideas, exciting business models, cultural sway, and the kind of business sophistication that will define the next 45 years and beyond.”
Renowned for its expertise and delighting guests with the most comfortable wax experience, European Wax Center locations perform more than 22 million services annually. In 2023, the brand delivered another strong year of unit growth with 100 net new center openings. European Wax Center’s Entrepreneur ranking is a testament to why guests continue to choose European Wax Center for their personal care needs.
“It’s an honor to be recognized and ranked at #43 in the 2024 Franchise 500 and stake our claim as #1 in the waxing category for the third consecutive year. Our collective goal as a company remains focused on creating additional value for our franchisees, shareholders and guests. This recognition is something we pride ourselves on as it acknowledges the tremendous initiatives we, and our franchisees, take in providing a best-in-class experience as we continue to extend our leadership position in the personal care category,” said David Willis, Chief Executive Officer of European Wax Center.
In Entrepreneur‘s continuing effort to best understand and evaluate the ever-changing franchise marketplace, the company’s ranking formula continues to evolve as well. The editorial team researches and assesses several factors, including costs and fees, size and growth, support, brand strength, and financial strength and stability. Each franchise is then given a cumulative score based on an analysis of more than 150 data points, and the 500 franchises with the highest cumulative scores become the Franchise 500® in ranked order.
Over its 45 years in existence, the Franchise 500® has become both a dominant competitive measure for franchisors and a primary research tool for potential franchisees. European Wax Center’s position on the ranking is a testament to its strength as a franchise opportunity.
To view European Wax Center in the full ranking, visit www.entrepreneur.com/franchise500 or pick up a copy of the January/February 2024 issue of Entrepreneur on newsstands now.
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. Its network, which now includes more than 1,000 centers in 45 states, generated sales of nearly $900 million in fiscal 2022. For more information, including how to receive your first wax free, please visit: https://waxcenter.com.
SOURCE European Wax Center
