PLANO, Texas, Jan. 10, 2023 /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. The 44th annual Entrepreneur Franchise 500® is a highly sought-after honor in the franchise industry. Recognized as an invaluable resource for potential franchisees, the 2023 Franchise 500® ranks European Wax Center as #32 overall and #1 franchise in the waxing category for its outstanding performance in areas including unit growth, financial strength and stability, and brand power.
"The past year underscores the extraordinary opportunities that the franchise industry presents for entrepreneurs of all levels," says Entrepreneur editor-in-chief Jason Feifer. "The companies named to our 44th annual Franchise 500 list represent some of the most innovative, creative, and trusted brands across many industries and highlight what it takes to build the kind of momentum that drives long-lasting success."
European Wax Center continued its long track record of sustained growth in 2022, surpassing 900 centers across 45 states. Renowned for their expertise and delighting guests with the most comfortable wax experience, in Fall 2022, EWC teamed up with the beauty tools experts, Tweezerman, to further elevate their in-center services. This innovative partnership provides their guests with the most precise finishing step in their first-class professional wax experience. European Wax Centers partnerships didn't stop there, in October the brand announced its partnership with Dreamfield Sports, a NIL (Name, Image and Likeness) platform, to collaborate with over 40 college athletes across a wide variety of sports including gymnast Trinity Thomas, basketball player Brevin Galloway, football stars Jordan and Ethan Pouncey, and track and field powerhouse Talitha Diggs, among others. Initial results show a 37% engagement rate, 114% above the benchmark average. EWC has also been recognized by numerous top media outlets, winning five consumer beauty awards for their clinically tested at-home pre- and post-wax products.
"It's an honor to be recognized and ranked #32 overall in the 2023 Franchise 500 and #1 in the waxing category. This recognition is something we pride ourselves on as it acknowledges the tremendous initiatives, we, and our franchisees, take to provide a best-in-class professional wax experience for our guests as we continue to strengthen our leadership position in the personal care category," 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 44-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 44 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. Results can also be seen in the January/February 2023 issue of Entrepreneur, available on newsstands January 17th.
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 providing guests with an unparalleled, professional personal care experience administered by highly trained wax specialists within the privacy of clean, individual waxing suites. European Wax Center, Inc. continues to revolutionize the waxing industry with their innovative Comfort Wax® formulated with the highest quality ingredients to make waxing a more efficient and relatively painless experience. Delivering a 360-degree guest experience, they also offer a collection of proprietary products to help enhance and extend waxing results. Founded in 2004, European Wax Center, Inc. is headquartered in Plano, Texas. Its network includes 944 centers in 45 states as of December 31, 2022. For more information, including how to receive your first wax free, please visit: https://waxcenter.com.
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SOURCE European Wax Center
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