Massage Heights Receives Approval for SBA Franchise Registry Listing
Franchisees Provided With Expedited Loan Process from U.S. Small Business Administration
April 08, 2009 // Franchising.com // San Antonio – Massage Heights, a national membership-based massage therapy franchise, announced today that the U.S. Small Business Administration (SBA) has listed Massage Heights on its official Franchise Registry. The Franchise Registry is a compilation of franchise systems that have had their franchise agreement reviewed by the SBA, thereby drastically shortening the loan process for franchise investors and ensuring a consistent eligibility decision.
"Massage Heights is continually looking for ways to help ease the pressure for franchise investors to obtain a loan during a time when resources are not as readily available as they once were," said Glenn Franson, CEO of Massage Heights.
In the midst of an exciting strategic growth phase, Massage Heights opened 26 new retreats in 2008 and the company projects to open an additional 45 locations this year. The recent growth has been fueled by an impressive 16 percent increase in same-store sales from 2007 to 2008.
"Americans are recognizing the health benefits of massage therapy and the demand for affordable massage therapy has increased dramatically in the last few years," added Franson. "Being listed on the SBA Franchise Registry means that franchise investors looking to capitalize on the Massage Heights business opportunity will be able to move through the process more efficiently."
Massage Heights' inclusion on the SBA Franchise Registry minimizes legal reviews and expenses for prospective franchisees and demonstrates the company's commitment towards helping investors secure financing. The Franchise Registry also ensures that Massage Heights meets several necessary requirements which allow banks to receive payment first, in the event that a franchisee experiences troubled times. In this situation, Massage Heights defers the royalties until the borrower gets back in good standing with the lender.
The San Antonio-based franchise experienced 135 percent growth in 2008 by focusing on expansion in untapped states, including Florida, California, Nevada, Kansas and Georgia. Massage Heights projects to open approximately 40 franchise locations and reach $40 million in system-wide sales this year.
About Massage Heights
Founded in 2004, Massage Heights is a membership-based massage therapy franchise offering guests the high-end massage therapy services found at a luxurious spa at an affordable price. With 46 operating franchises, company plans call for nearly 300 additional locations by 2010, with a total of 1,620 locations within the next five years. The average cost to open a Massage Heights franchise is between $228,000 to $446,000 with a franchise fee of $42,000. Single and multiple units, as well as regional development opportunities are available. Massage Heights is now offering a 10 percent discount on the initial franchise fee for military veterans.