European Wax Center Ranked Best In Category In Entrepreneur's Highly Competitive Franchise 500®
PLANO, Texas, Jan. 6, 2022 // PRNewswire // - European Wax Center, Inc. (NASDAQ: EWCZ) a personal care franchise brand offering expert wax services, was recognized as one of the top 500 franchises and ranked #1 in category in Entrepreneur's Franchise 500®, the world's first, best and most comprehensive franchise ranking. The 43rd annual Entrepreneur Franchise 500® is a highly sought-after honor in the franchise industry. Recognized as an invaluable resource for potential franchisees, the 2022 Franchise 500® ranks European Wax Center as #48 overall and #1 in category for its outstanding performance in areas including unit growth, financial strength and stability, and brand power.
"The past year has been one of the most challenging for businesses in recent memory, which made putting together our 43rd annual Franchise 500 list more enlightening than ever," says Entrepreneur Editor in Chief Jason Feifer. "The companies named to this year's list showed us how being resilient, supportive, and nimble can help navigate extraordinary challenges and also underscore the grit and innovation that define entrepreneurship."
In April, European Wax Center launched a comprehensive and clinically tested line of at-home pre- and post-wax products through guest inputs, qualitative and quantitative research, and insights from their expert estheticians. The company executed a well-received initial public offering in August. The momentum extended when European Wax Center continued to revolutionize the out-of-home waxing category with the launch of their new loyalty program, EWC Rewards, along with an improved European Wax Center guest mobile app.
"It's truly a great achievement to be recognized and ranked #48 in the 2022 Franchise 500 and #1 in the category, especially knowing this year was Entrepreneur's most competitive Franchise 500 ever. We take pride in this recognition of the monumental measures we take to grow as a personal care franchise brand and ensure we continue to provide an exceptional guest experience," said David Berg, 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 43-year-old ranking formula continues to evolve as well. The editorial team researches and assesses several factors that go into the evaluation, including costs and fees, size and growth, support, brand strength, and financial strength and stability. Each franchise is 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 ranking order.
Over its 43 years in existence, the Franchise 500® has become both a dominant competitive measure for franchisors and a primary research tool for potential franchisees.
SOURCE European Wax Center, Inc.
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