0000950170-21-001806 | 10-Q | XBRL Viewer

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Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Jun. 26, 2021	Sep. 09, 2021
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 26, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Registrant Name	EUROPEAN WAX CENTER, INC.
Entity Central Index Key	0001856236
Current Fiscal Year End Date	--12-25
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity File Number	001-40714
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	86-3150064
Entity Address, Address Line One	5830 Granite Parkway, 3rd Floor
Entity Address, City or Town	Plano
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75024
City Area Code	(469)
Local Phone Number	264-8123
Title of 12(b) Security	Class A common stock, par value $0.00001 per share
Trading Symbol	EWCZ
Security Exchange Name	NASDAQ
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		31,370,186
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		32,372,542

Balance Sheets - USD ($)	Jun. 26, 2021	Apr. 01, 2021
Assets [Abstract]
Cash	$ 100	$ 100
Total assets	100	100
Stockholders Equity [Abstract]
Common stock, par value $0.00001 per share, 1,000 shares authorized, 100 shares issued and outstanding	0	0
Additional paid-in capital	100	100
Total stockholder’s equity	$ 100	$ 100

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
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-Section 50
-Paragraph 28
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 3
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 25
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=116870748&loc=SL6758485-165988

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (SX 210.7-03(a)(12))
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 30
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

Balance Sheets (Parenthetical) - $ / shares	Jun. 26, 2021	Apr. 01, 2021
Statement Of Financial Position [Abstract]
Common Stock, Par Value	$ 0.00001	$ 0.00001
Common Stock, Shares Authorized	1,000	1,000
Common Stock, Shares, Issued	100	100
Common Stock, Shares, Outstanding	100	100

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 26, 2021	Dec. 26, 2020
Current assets:
Total assets	$ 100
Current liabilities:
Commitments and contingencies (Note 9)
Members' equity:
Additional paid-in capital	100
EWC Ventures, LLC and Subsidiaries [Member]
Current assets:
Cash and cash equivalents	35,235,000	36,720,000
Accounts receivable, net	10,514,000	5,070,000
Inventory	19,800,000	10,280,000
Prepaid expenses and other current assets	12,583,000	4,574,000
Advances to related parties	689,000	689,000
Total current assets	78,821,000	57,333,000
Property and equipment, net	4,513,000	5,039,000
Intangible assets, net	211,284,000	213,267,000
Goodwill	328,551,000	328,551,000
Other non-current assets	3,215,000	2,710,000
Total assets	626,384,000	606,900,000
Current liabilities:
Accounts payable and accrued liabilities	23,838,000	13,489,000
Long-term debt, current portion	2,428,000	2,428,000
Deferred revenue, current portion	2,752,000	2,351,000
Other current liabilities	181,000	181,000
Total current liabilities	29,199,000	18,449,000
Long-term debt, net	262,445,000	262,975,000
Long-term portion of deferred revenue	6,801,000	6,528,000
Other long-term liabilities	503,000	925,000
Total liabilities	298,948,000	288,877,000
Members' equity:
Additional paid-in capital	0	83,000
Accumulated deficit	(113,843,000)	(61,473,000)
Accumulated other comprehensive loss	(288,000)	(527,000)
Total liabilities, mezzanine equity, and members’ equity	626,384,000	606,900,000
EWC Ventures, LLC and Subsidiaries [Member] \| Class A Founders' Units [Member]
Mezzanine equity:
Temporary equity, value	151,809,000	89,240,000
EWC Ventures, LLC and Subsidiaries [Member] \| Class D Units
Mezzanine equity:
Temporary equity, value	24,909,000	24,909,000
EWC Ventures, LLC and Subsidiaries [Member] \| Class A Common Stock [Member]
Members' equity:
Class Units	264,849,000	265,791,000
EWC Ventures, LLC and Subsidiaries [Member] \| Class B Common Stock [Member]
Members' equity:
Class Units	0	0
EWC Ventures, LLC and Subsidiaries [Member] \| Class C Units
Members' equity:
Class Units	$ 0	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - EWC Ventures, LLC and Subsidiaries [Member] - USD ($) $ in Thousands	Jun. 26, 2021	Dec. 26, 2020
Class A Founders' Units [Member]
Temporary Equity, Shares Authorized	8,309,193	8,309,193
Temporary Equity, Shares Issued	8,309,193	8,309,193
Temporary Equity, Shares Outstanding	8,309,193	8,309,193
Class D Units
Temporary Equity, Shares Authorized	2,500,000	2,500,000
Temporary Equity, Shares Issued	2,500,000	2,500,000
Temporary Equity, Shares Outstanding	2,500,000	2,500,000
Temporary Equity Liquidation Preference	$ 27,979	$ 26,670
Class A Common Stock [Member]
Class Units Authorized	26,311,170	26,401,089
Class Units Issued	26,311,170	26,401,089
Class Units Outstanding	26,311,170	26,401,089
Class B Common Stock [Member]
Class Units Authorized	1	1
Class Units Issued	1	1
Class Units Outstanding	1	1
Class C Units
Class Units Authorized	1,000	1,000
Class Units Issued	1,000	1,000
Class Units Outstanding	1,000	1,000

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2021	Jun. 27, 2020	Jun. 26, 2021	Jun. 27, 2020
OPERATING EXPENSES
Depreciation and amortization			$ 10,409	$ 9,938
NET INCOME (LOSS)	$ 7,729	$ (11,372)	8,831	(10,413)
EWC Ventures, LLC and Subsidiaries [Member]
REVENUE
Total revenue	47,902	10,813	84,559	43,636
OPERATING EXPENSES
Cost of revenue	11,540	3,717	21,471	12,395
Selling, general and administrative	12,212	6,340	23,278	16,718
Advertising	6,515	2,603	11,399	6,291
Depreciation and amortization	5,271	5,040	10,409	9,938
Total operating expenses	35,538	17,700	66,557	45,342
Income (loss) from operations	12,364	(6,887)	18,002	(1,706)
Interest expense	(4,635)	(4,485)	(9,171)	(8,707)
NET INCOME (LOSS)	7,729	(11,372)	8,831	(10,413)
Items included in other comprehensive income (loss):
Unrealized gain on cash flow hedge	80	742	239	77
TOTAL COMPREHENSIVE INCOME (LOSS)	$ 7,809	$ (10,630)	$ 9,070	$ (10,336)
EWC Ventures, LLC and Subsidiaries [Member] \| Class A Founders' Units [Member]
Basic and diluted net income (loss) per unit
Earnings Per Share, Basic and Diluted	$ 0.18	$ (0.34)	$ 0.20	$ (0.31)
Basic and diluted weighted average units outstanding
Weighted Average Number of Shares Outstanding, Basic and Diluted	8,309,193	8,309,193	8,309,193	8,309,193
EWC Ventures, LLC and Subsidiaries [Member] \| Class A Units [Member]
Basic and diluted net income (loss) per unit
Earnings Per Share, Basic and Diluted	$ 0.18	$ (0.34)	$ 0.20	$ (0.31)
Basic and diluted weighted average units outstanding
Weighted Average Number of Shares Outstanding, Basic and Diluted	26,311,170	26,401,089	26,317,099	26,401,089
EWC Ventures, LLC and Subsidiaries [Member] \| Product [Member]
REVENUE
Total revenue	$ 26,524	$ 6,838	$ 47,141	$ 25,183
EWC Ventures, LLC and Subsidiaries [Member] \| Royalty [Member]
REVENUE
Total revenue	12,030	2,101	20,880	11,002
EWC Ventures, LLC and Subsidiaries [Member] \| Marketing [Member]
REVENUE
Total revenue	6,632	1,225	11,566	4,784
EWC Ventures, LLC and Subsidiaries [Member] \| Other Revenue [Member]
REVENUE
Total revenue	$ 2,716	$ 649	$ 4,972	$ 2,667

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2021	Jun. 27, 2020	Jun. 26, 2021	Jun. 27, 2020
EWC Ventures, LLC and Subsidiaries [Member]
Related party consulting fees	$ 67	$ 50	$ 100	$ 100

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 26, 2021	Jun. 27, 2020
Cash flows from operating activities:
Net income (loss)	$ 8,831	$ (10,413)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	10,409	9,938
Amortization of deferred financing costs	684	397
Provision for bad debts	405
Equity compensation	557	1,246
Changes in assets and liabilities:
Accounts receivable	(6,712)	(2,059)
Inventory	(9,520)	(3,121)
Prepaid expenses and other assets	(7,562)	(129)
Accounts payable and accrued liabilities	10,260	(12,468)
Deferred revenue	674	(582)
Other long-term liabilities	(166)	11
Net cash provided by (used in) operating activities	7,860	(17,180)
Cash flows from investing activities:
Purchases of property and equipment	(323)	(2,269)
Reacquisition of area representative rights	(7,594)	(33,026)
Net cash used in investing activities	(7,917)	(35,295)
Cash flows from financing activities:
Proceeds on line of credit		27,000
Proceeds on long-term debt		15,000
Principal payments on long-term debt	(1,214)	(1,183)
Deferred loan costs		(606)
Distributions to members		(1,669)
Contributions from members	728	24,909
Repurchase of Class A Units	(942)
Net cash (used in) provided by financing activities	(1,428)	63,451
Net (decrease) increase in cash	(1,485)	10,976
Cash, beginning of period	36,720	10,264
Cash, end of period	35,235	21,240
Supplemental cash flow information:
Cash paid for interest	8,362	7,766
Non-cash investing and financing activities:
Reacquired rights purchased included in accounts payable and accrued liabilities	$ 50	1,588
Non-cash equity distributions		$ 122

CONDENSED CONSOLIDATED STATEMENTS OF MEZZANINE EQUITY AND MEMBERS' EQUITY (Unaudited) - EWC Ventures, LLC and Subsidiaries [Member] - USD ($) $ in Thousands	Total	Class A Founders' Units [Member]	Mezzanine Equity [Member] Class A Founders' Units [Member]	Mezzanine Equity [Member] Class D Units [Member]	Members' Equity [Member] Class A Units [Member]	Members' Equity [Member] Class B Units [Member]	Members' Equity [Member] Class C Units [Member]	Additional Paid in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss [Member]
Temporary Equity, Beginning Balance at Dec. 28, 2019			$ 104,280
Temporary Equity, Beginning Balance (Shares) at Dec. 28, 2019			8,309,193
Beginning Balance at Dec. 28, 2019	$ 210,038				$ 265,791				$ (55,018)	$ (735)
Beginning Balance (Shares) at Dec. 28, 2019					26,401,089	1	1,000
Equity compensation	827							$ 827
Distributions	(1,805)							(827)	(978)
Unrealized gain (loss) on cash flow hedge	(665)									(665)
Accretion/Reduction of Class A Founders' Units to redemption value	17,781		$ (17,781)						17,781
Net income (loss)	959								959
Temporary Equity, Ending Balance at Mar. 28, 2020			$ 86,499
Temporary Equity, Ending Balance (Shares) at Mar. 28, 2020			8,309,193
Ending Balance at Mar. 28, 2020	227,135				$ 265,791				(37,256)	(1,400)
Ending Balance (Shares) at Mar. 28, 2020					26,401,089	1	1,000
Temporary Equity, Beginning Balance at Dec. 28, 2019			$ 104,280
Temporary Equity, Beginning Balance (Shares) at Dec. 28, 2019			8,309,193
Beginning Balance at Dec. 28, 2019	210,038				$ 265,791				(55,018)	(735)
Beginning Balance (Shares) at Dec. 28, 2019					26,401,089	1	1,000
Temporary Equity, Ending Balance at Jun. 27, 2020			$ 83,653	$ 24,909
Temporary Equity, Ending Balance (Shares) at Jun. 27, 2020			8,309,193	2,500,000
Ending Balance at Jun. 27, 2020	219,784				$ 265,791			433	(45,782)	(658)
Ending Balance (Shares) at Jun. 27, 2020					26,401,089	1	1,000
Temporary Equity, Beginning Balance at Mar. 28, 2020			$ 86,499
Temporary Equity, Beginning Balance (Shares) at Mar. 28, 2020			8,309,193
Beginning Balance at Mar. 28, 2020	227,135				$ 265,791				(37,256)	(1,400)
Beginning Balance (Shares) at Mar. 28, 2020					26,401,089	1	1,000
Equity compensation	419							419
Other Contributions	14							14
Contributions				$ 24,909
Contribution from issuance of Class D Units, net of issuance costs of $91 (Shares)				2,500,000
Unrealized gain (loss) on cash flow hedge	742									742
Accretion/Reduction of Class A Founders' Units to redemption value	2,846		$ (2,846)						2,846
Net income (loss)	(11,372)								(11,372)
Temporary Equity, Ending Balance at Jun. 27, 2020			$ 83,653	$ 24,909
Temporary Equity, Ending Balance (Shares) at Jun. 27, 2020			8,309,193	2,500,000
Ending Balance at Jun. 27, 2020	219,784				$ 265,791			433	(45,782)	(658)
Ending Balance (Shares) at Jun. 27, 2020					26,401,089	1	1,000
Temporary Equity, Beginning Balance at Dec. 26, 2020			$ 89,240	$ 24,909
Temporary Equity, Beginning Balance (Shares) at Dec. 26, 2020		8,309,193	8,309,193	2,500,000
Beginning Balance at Dec. 26, 2020	203,874				$ 265,791			83	(61,473)	(527)
Beginning Balance (Shares) at Dec. 26, 2020					26,401,089	1	1,000
Equity compensation	298							298
Repurchase of Class A Units	(942)				$ (942)
Repurchase of Class A Units (Shares)					(89,919)
Contributions	2							2
Unrealized gain (loss) on cash flow hedge	159									159
Accretion/Reduction of Class A Founders' Units to redemption value	(31,991)		$ 31,991					(383)	(31,608)
Net income (loss)	1,102								1,102
Temporary Equity, Ending Balance at Mar. 27, 2021			$ 121,231	$ 24,909
Temporary Equity, Ending Balance (Shares) at Mar. 27, 2021			8,309,193	2,500,000
Ending Balance at Mar. 27, 2021	172,502				$ 264,849				(91,979)	(368)
Ending Balance (Shares) at Mar. 27, 2021					26,311,170	1	1,000
Temporary Equity, Beginning Balance at Dec. 26, 2020			$ 89,240	$ 24,909
Temporary Equity, Beginning Balance (Shares) at Dec. 26, 2020		8,309,193	8,309,193	2,500,000
Beginning Balance at Dec. 26, 2020	203,874				$ 265,791			83	(61,473)	(527)
Beginning Balance (Shares) at Dec. 26, 2020					26,401,089	1	1,000
Temporary Equity, Ending Balance at Jun. 26, 2021			$ 151,809	$ 24,909
Temporary Equity, Ending Balance (Shares) at Jun. 26, 2021		8,309,193	8,309,193	2,500,000
Ending Balance at Jun. 26, 2021	150,718				$ 264,849				(113,843)	(288)
Ending Balance (Shares) at Jun. 26, 2021					26,311,170	1	1,000
Temporary Equity, Beginning Balance at Mar. 27, 2021			$ 121,231	$ 24,909
Temporary Equity, Beginning Balance (Shares) at Mar. 27, 2021			8,309,193	2,500,000
Beginning Balance at Mar. 27, 2021	172,502				$ 264,849				(91,979)	(368)
Beginning Balance (Shares) at Mar. 27, 2021					26,311,170	1	1,000
Equity compensation	259							259
Contributions	726							726
Unrealized gain (loss) on cash flow hedge	80									80
Accretion/Reduction of Class A Founders' Units to redemption value	(30,578)		$ 30,578					$ (985)	(29,593)
Net income (loss)	7,729								7,729
Temporary Equity, Ending Balance at Jun. 26, 2021			$ 151,809	$ 24,909
Temporary Equity, Ending Balance (Shares) at Jun. 26, 2021		8,309,193	8,309,193	2,500,000
Ending Balance at Jun. 26, 2021	$ 150,718				$ 264,849				$ (113,843)	$ (288)
Ending Balance (Shares) at Jun. 26, 2021					26,311,170	1	1,000

CONDENSED CONSOLIDATED STATEMENTS OF MEZZANINE EQUITY AND MEMBERS' EQUITY (Parenthetical) (Unaudited) $ in Thousands	3 Months Ended
	Jun. 27, 2020 USD ($)
EWC Ventures, LLC and Subsidiaries [Member]
Net of Issuance Costs	$ 91

Nature of Business and Organization	6 Months Ended
Nature of Business and Organization	Jun. 26, 2021
Nature of business and organization	1. Nature of business and organization European Wax Center, Inc. (the “Corporation”) was formed as a Delaware corporation on April 1, 2021. The Corporation was formed for the purpose of completing a public offering and related transactions in order to carry on the business of EWC Ventures, LLC and subsidiaries (the “Company”). The Corporation will be the sole managing member of the Company and will operate and control all of the businesses and affairs of the Company and continue to conduct the business now conducted by the Company.
EWC Ventures, LLC and Subsidiaries [Member]
Nature of business and organization	Nature of business and organization EWC Ventures, LLC (the “Company” or “EWC Ventures”) was organized on December 12, 2012 as a limited liability company in the State of Delaware. Through its wholly owned subsidiaries, the Company is engaged in selling franchises of European Wax Center, distributing facial and body waxing products to franchisees and providing waxing services directly to consumers at various locations throughout the United States. On August 8, 2018, the Company entered into an Agreement and Plan of Merger (“Merger”) with General Atlantic (EW) Collections, L.P. (“GA Collections”), an entity controlled by affiliates of General Atlantic LLC (“General Atlantic”), and EWC Merger Sub, LLC pursuant to which, GA Collections agreed to acquire a controlling interest in the Company. The merger closed on September 25, 2018 (the “GA Acquisition”) and the Company became a subsidiary of GA Collections on that date. The Company operates on a fiscal calendar which, in a given year, consists of a 52 or 53 week period ending on the Saturday closest to December 31st. The quarters ended June 26, 2021 and June 27, 2020 both consisted of 13 weeks. These unaudited condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates that the Company will realize its assets and satisfy its liabilities in the ordinary course of business and as such, include no adjustments that might be necessary in the event that the Company is unable to operate on this basis.

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Jun. 26, 2021
Significant Accounting Policies	2. Summary of significant accounting policies Basis of accounting The balance sheet has been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Separate statements of operations, comprehensive income, changes in stockholder’s equity, and cash flows have not been presented in the financial statements because the Corporation has had no activities.
EWC Ventures, LLC and Subsidiaries [Member]
Significant Accounting Policies	2. Summary of significant accounting policies (a) Basis of presentation and consolidation The accompanying unaudited condensed consolidated financial statements have been presented in conformity with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The condensed consolidated balance sheet as of December 26, 2020 is derived from the audited consolidated financial statements but does not include all disclosures required by GAAP. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes thereto for the year ended December 26, 2020 included in our prospectus dated August 4, 2021, filed with the SEC on August 6, 2021 pursuant to Rule 424(b)(4) of the Securities Act of 1933, as amended (referred to herein as the “Prospectus”). In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all normal recurring adjustments necessary for a fair statement of the Company’s financial position, results of operations, and cash flows for the periods presented. All intercompany accounts and transactions have been eliminated in consolidation. Accounting policies used in the preparation of these unaudited condensed consolidated financial statements are consistent with the accounting policies described in the audited consolidated financial statements and the related notes thereto for the year ended December 26, 2020 included in our Prospectus. (b) Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although these estimates are based on management’s knowledge of current events and actions it may undertake in the future, they may ultimately differ from actual results. Significant areas where estimates and judgments are relied upon by management in the preparation of the financial statements include revenue recognition, inventory reserves, the expected life of franchise agreements, the useful life of reacquired rights, valuation of equity-based compensation awards, and the evaluation of the recoverability of goodwill and long-lived assets, including indefinite-lived intangible assets. Actual results could differ from those estimates. (c) COVID-19 pandemic The Company is continuing to monitor the ongoing COVID-19 pandemic and its impact on its business. Beginning in March 2020, in response to the COVID-19 pandemic, most franchisees temporarily closed their centers in order to promote the health and safety of its members, team members and their communities. In April 2020, the entire franchise network was temporarily closed. Beginning in May 2020, certain governors announced steps to restart non-essential business operations in their respective states and certain centers began to re-open. As of June 2021, all of the Company’s nationwide network had re-opened. However, there is a significant amount of uncertainty about the effects a resurgence in COVID-19 cases could have on our business, our industry and overall economic activity. (d) Implications of being an Emerging Growth Company The Company is an emerging growth company as defined in the Jumpstart Our Business Startups Act of 2012 (“JOBS Act”) and may take advantage of reduced reporting requirements that are otherwise applicable to public companies. Section 107 of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies are required to comply with those standards. The Company has elected to use the extended transition period for complying with new or revised accounting standards. (e) Recently adopted accounting pronouncements In August 2018, the FASB issued ASU 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. Under this standard, companies will apply the same criteria for capitalizing implementation costs as they would for an arrangement that has a software license. The adoption of this new guidance prescribes the balance sheet, statement of operations, and cash flow classification of the capitalized implementation costs and related amortization expense, and additional quantitative and qualitative disclosures. This standard is effective for fiscal years beginning after December 15, 2021. This standard may be applied either prospectively to eligible costs incurred on or after the date of the new guidance or retrospectively. The Company adopted this standard on December 27, 2020 (the beginning of its fiscal year 2021) on a prospective basis. The adoption of this standard did not have a significant impact on our financial statements. (f) Recently issued accounting pronouncements not yet adopted In February 2016, the FASB issued ASU 2016-02, Leases and established ASC Topic 842, Leases (“ASC 842”), which supersedes ASC Topic 840, Leases. ASC 842 requires a lessee to recognize a lease right-of-use (“ROU”) asset and a corresponding lease liability on its balance sheet along with additional qualitative and quantitative disclosures. ROU assets and lease liabilities are recognized at the commencement date based on the present value of future payments. ASC 842 is effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022, with early adoption permitted. The Company is currently evaluating the effect the adoption of this standard will have on its financial statements, including the materiality of the addition of ROU assets and lease liabilities on its balance sheet. In June 2017, the FASB issued ASU 2016-13, Financial Instruments (Topic 326)—Measurement of Credit Losses on Financial Instruments, which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. The standard replaces the existing incurred loss impairment model with an expected loss methodology, which will result in more timely recognition of credit losses. ASU 2016-13, and related amendments, are effective for fiscal years beginning after December 15, 2022. The Company has not completed its assessment of the standard but does not expect the adoption to have a material impact on its financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments in this update, as well as subsequently issued amendments, provide temporary, optional guidance to ease the burden in accounting for reference rate reform. The amendments provide optional expedients and exceptions for applying GAAP to transactions affected by reference rate reform if certain criteria are met. The amendments primarily include relief related to contract modifications and hedging relationships. The relief provided by this ASU does not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022. However, hedging relationships that apply certain optional expedients prior to December 31, 2022, will be retained through the end of the hedging relationship, including for periods after December 31, 2022. We will evaluate the impact of this guidance as contracts are modified through December 2022.

Stockholder's Equity

6 Months Ended

Jun. 26, 2021

Stockholders Equity [Abstract]

Stockholders' equity

3. Stockholder’s equity

The Corporation is authorized to issue 1,000 shares of Common Stock, par value $0.00001 per share, 100 shares of which have been issued and are outstanding as of June 26, 2021 for aggregate consideration of $100.

Fair Value Measurements

6 Months Ended

Jun. 26, 2021

EWC Ventures, LLC and Subsidiaries [Member]

Fair Value Measurements

3. Fair value measurements

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

We use valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to their present value on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement costs). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the

assumptions that market participants would use in pricing the asset or liability. Inputs may be observable, meaning those that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from independent sources, or unobservable, meaning those that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. These two types of inputs create a three-tier fair value hierarchy that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs.

GAAP categorizes inputs used in fair value measurements into three broad levels as follows:



(Level 1) Quoted prices in active markets for identical assets or liabilities.



(Level 2) Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, similar assets and liabilities in markets that are not active or can be corroborated by observable market data.



(Level 3) Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes valuation techniques that involve significant unobservable inputs.

The Company uses interest rate caps to manage its interest rate exposure. These interest rate caps are recorded at fair value. Changes in fair value of our interest rate caps are recognized as a component of accumulated other comprehensive loss on the condensed consolidated balance sheets. The Company has elected to use the income approach to value the interest rate cap, using observable Level 2 market expectations at measurement dates and standard valuation techniques to convert future amounts to a single present discounted amount reflecting current market expectations about those future amounts. Level 2 inputs for derivative valuations are limited to inputs other than those quoted prices that are observable for the asset or liability (specifically LIBOR swap rates and credit risk at commonly quoted intervals). Mid-market pricing is used as a practical expedient. Derivatives are discounted to present value at the measurement date at overnight index swap rates. Refer to Note 8—Derivative instruments and hedging activity for additional discussion.

Fair value measurements are summarized below:


	Fair Market Value			Quoted prices in active markets for identical assets (Level 1)		Significant observable inputs (Level 2)			Significant unobservable inputs (Level 3)
Interest rate cap
June 26, 2021	$	(272	)	$	—	$	(272	)	$	—
December 26, 2020	$	(527	)	$	—	$	(527	)	$	—

The carrying values of cash and cash equivalents, accounts receivable and accounts payable approximate fair value because of the short-term nature of these instruments. Debt under the secured term loan (the “Term Loan”) of $239,338 and the secured revolving credit facility (the “Revolving Credit Facility”) of $30,000 approximate fair value as they have variable rates and incorporate a measure of our credit risk.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Prepaid Expenses and Other Current Assets

6 Months Ended

Jun. 26, 2021

EWC Ventures, LLC and Subsidiaries [Member]

Prepaid expenses and other current assets

4. Prepaid expenses and other current assets

Prepaid expenses and other current assets consisted of the following:


	June 26, 2021		December 26, 2020
Prepaid inventory	$	—	$	2,000
Deferred IPO fees		7,183		39
Prepaid other & other current assets		5,400		2,535
Total	$	12,583	$	4,574

The prepaid other & other current assets amounts are primarily composed of prepaid technology, marketing and maintenance contracts, sales taxes, insurance and rent.

Intangible Assets Net

6 Months Ended

Jun. 26, 2021

EWC Ventures, LLC and Subsidiaries [Member]

Intangible assets net

5. Intangible assets, net

A summary of intangible assets as of June 26, 2021 and December 26, 2020 is as follows:


	June 26, 2021
	Weighted Average Remaining Useful Life (Years)		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Franchisee relationships		7.24	$	114,594	$	(31,584	)	$	83,010
Reacquired rights		8.79		76,557		(12,133	)		64,424
Favorable lease assets		0.74		170		(134	)		36
				191,321		(43,851	)		147,470
Indefinite-lived intangible:
Trade name	N/A			63,814		—			63,814
Total intangible assets			$	255,135	$	(43,851	)	$	211,284


	December 26, 2020
	Weighted Average Remaining Useful Life (Years)		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Franchisee relationships		7.74	$	114,594	$	(25,870	)	$	88,724
Reacquired rights		9.19		68,973		(8,304	)		60,669
Favorable lease assets		1.24		170		(110	)		60
				183,737		(34,284	)		149,453
Indefinite-lived intangible:
Trade name	N/A			63,814		—			63,814
Total intangible assets			$	247,551	$	(34,284	)	$	213,267

Area representative rights represent an agreement with area representatives to sell franchise licenses and provide support to franchisees in a geographic region. From time to time, the Company enters into agreements to reacquire certain area representative rights. During the 26 weeks ended June 26, 2021, reacquisition costs totaled $7,644. Of the total consideration, $7,594 was paid during the 26 weeks ended June 26, 2021 and $50 is related to certain purchase price holdbacks which are recorded in accounts payable and accrued liabilities on the condensed consolidated balance sheet as of June 26, 2021.

During the 26 weeks ended June 27, 2020, reacquisition costs totaled $34,614 which consisted of $33,026 of cash consideration paid during the period and $1,588 of certain purchase price holdbacks, which were paid during the remainder of fiscal year 2020.

The initial term of the area representative agreements is ten years with an additional ten-year renewal at the option of the area representative. The reacquired rights are amortized on a straight-line basis over the remaining expected term of the agreement prior to the reacquisition. Amortization expense for reacquired rights was $1,989 and $1,771 for the 13 weeks ended June 26, 2021 and June 27, 2020, respectively, and $3,829 and $3,429 for the 26 weeks ended June 26, 2021 and June 27, 2020, respectively.

Franchisee relationships are amortized on a straight-line basis over the estimated useful life of the asset. Amortization expense for franchisee relationships was $2,857 for both the 13 weeks ended June 26, 2021 and June 27, 2020, respectively, and $5,714 for both the 26 weeks ended June 26, 2021 and June 27, 2020, respectively. Amortization expense for franchisee relationships and reacquired rights is included in depreciation and amortization expense on the condensed consolidated statements of operations and comprehensive income (loss).

Favorable lease assets are amortized on a straight-line basis over the estimated useful life of the asset. Amortization of favorable lease assets of $12 was recorded within depreciation and amortization expense in the condensed consolidated statements of operations and comprehensive income (loss) for both the 13 weeks ended June 26, 2021, and June 27, 2020, respectively, and $24 for both the 26 weeks ended June 26, 2021 and June 27, 2020, respectively.

Future expected amortization expense of the Company’s intangible assets as of June 26, 2021 is as follows:


Fiscal Years Ending	Franchisee Relationships		Reacquired Rights		Favorable Lease Assets
2021 (from June 27, 2021)	$	5,714	$	3,682	$	24
2022		11,428		7,364		12
2023		11,428		7,364	—
2024		11,428		7,364	—
2025		11,428		7,364	—
Thereafter		31,584		31,286	—
Total	$	83,010	$	64,424	$	36

Accounts Payable and Accrued Liabilities

6 Months Ended

Jun. 26, 2021

EWC Ventures, LLC and Subsidiaries [Member]

Accounts Payable and Accrued Liabilities

6. Accounts payable and accrued liabilities

Accounts payable and accrued liabilities consisted of the following:


	June 26, 2021		December 26, 2020
Accounts payable	$	7,393	$	615
Accrued inventory		3,238		3,321
Accrued compensation		3,684		2,169
Accrued taxes and penalties		1,762		1,732
Accrued lease termination costs		374		360
Accrued technology and subscription fees		523		1,536
Accrued interest		1,379		1,440
Accrued professional fees		4,245		967
Other accrued liabilities		1,240		1,349
Total Accounts payable and accrued liabilities	$	23,838	$	13,489

Long-term Debt, Net

6 Months Ended

Jun. 26, 2021

EWC Ventures, LLC and Subsidiaries [Member]

Long-term Debt, Net

7. Long-term debt, net

Long-term debt consists of the following:


	June 26, 2021			December 26, 2020
Term Loan	$	239,338		$	240,552
Revolving Credit Facility		30,000			30,000
Less: current portion		(2,428	)		(2,428	)
Total long-term debt		266,910			268,124
Less: unamortized deferred financing costs		(4,465	)		(5,149	)
Total long-term debt, net	$	262,445		$	262,975

In September 2018, EW Holdco, LLC, a wholly owned subsidiary of the Company, entered into the Term Loan and Revolving Credit Facility (the "Senior Secured Credit Facility") with a maturity date of September 25, 2024. EW Intermediate Holdco, LLC, a wholly owned subsidiary of the Company and EW Holdco, LLC’s direct parent, granted to the lenders a first priority security interest in generally all rights, title and interest in, to and under substantially all assets and equity interests of such parties, which include substantially all tangible assets of the Company.

Borrowings under the Term Loan bear interest at an index rate as defined in the credit agreement governing the Senior Secured Credit Facility plus an applicable margin of 5.5% (6.5% at June 26, 2021) and is payable monthly. The Term Loan requires principal payments equal to approximately $2,400 per fiscal year, payable in quarterly installments with the final scheduled principal payment on the outstanding Term Loan borrowings due on September 25, 2024. Beginning in fiscal year 2020, additional principal payments could be due in May of each year, which are based upon a calculation of Excess Cash Flow, as defined in the credit agreement.

The Revolving Credit Facility has a maximum borrowing capacity of $30,000 and bears interest at the index rate, as defined in the credit agreement plus an applicable margin of 3.5% (4.25% at June 26, 2021). Interest on the Revolving Credit Facility is payable monthly.

The credit agreement governing our Senior Secured Credit Facility requires the Company to comply with a number of affirmative and negative covenants, including certain restrictions on additional indebtedness, liens against the Company’s and its subsidiaries assets, sales of assets, and other restrictions on payments. The credit agreement also contains a quarterly maintenance covenant that requires us to maintain a net leverage ratio (as defined in the credit agreement) that does not exceed 8.75 to 1.00. As a result of the increased borrowings during fiscal year 2020, beginning with the month ended June 27, 2020 and for the twelve months thereafter, the Company is required to maintain $6,000 of minimum liquidity, as defined by the credit agreement. During this twelve-month period, the financial covenant requiring maintenance of a maximum leverage ratio, as defined by the credit agreement, is not in in effect.

In August 2021, concurrent with our initial public offering, we entered into a new credit agreement providing for a new $180.0 million term loan and a $40.0 million revolving credit facility. The proceeds from the new term loan were used together with proceeds from our initial public offering to fully repay and terminate the Senior Secured Credit Facility. Refer to Note 13 for further information on our initial public offering and debt refinancing transactions.

Derivative Instruments and Hedging Activities

6 Months Ended

Jun. 26, 2021

EWC Ventures, LLC and Subsidiaries [Member]

Derivative Instruments and Hedging Activities

8. Derivative instruments and hedging activities

In December 2018, the Company entered into an interest rate cap derivative instrument which was designated as a cash flow hedge. The Company’s objective is to mitigate the impact of interest expense fluctuations on the Company’s profitability resulting from interest rate changes by capping the LIBOR component of the interest rate at 4.5% on $175,000 of principal outstanding under its long-term debt arrangement, as the interest rate cap provides for payments from the counterparty when LIBOR rises above 4.5%. The interest rate cap has a $175,000 notional amount and is effective December 31, 2018, for the monthly periods from and including January 31, 2019 through September 25, 2024. The interest rate cap has a deferred premium; accordingly, the Company will pay a monthly premium for the interest rate cap over the term of the agreement. The annual premium is equal to 0.11486% on the notional amount.

Changes in the cash flows of interest rate cap derivatives designated as hedges are expected to be highly effective in offsetting the changes in interest payments on a principal balance equal to the designated derivative’s notional amount, attributable to the hedged risk. Changes in the fair value of the interest rate cap are recognized in other comprehensive income and are reclassified out of accumulated other comprehensive income and into interest expense when the hedged interest obligations affect earnings. Cash flows related to derivatives qualifying as hedges are included in the same section of the condensed consolidated statements of cash flows as the underlying assets and liabilities being hedged. Refer to Note 3—Fair value measurements for information on the fair value of the Company’s interest rate cap derivative instrument.

Our cash flow hedge position related to the interest rate cap derivative instrument is as follows:


	Balance Sheet Classification	June 26, 2021			December 26, 2020
Derivatives designated as hedging instruments:
Interest rate cap, current portion	Other current liabilities	$	(181	)	$	(181	)
Interest rate cap, non-current portion	Other long-term liabilities		(91	)		(346	)
Total derivative liabilities designated as hedging instruments		$	(272	)	$	(527	)

The table below presents the net unrealized gain recognized in other comprehensive income (“OCI”) resulting from fair value adjustments of hedging instruments:


	Net Unrealized Gain Recognized in OCI
	Thirteen Weeks Ended June 26, 2021		Thirteen Weeks Ended June 27, 2020		Twenty-Six Weeks Ended June 26, 2021		Twenty-Six Weeks Ended June 26, 2021
Derivatives designated as hedging instruments:
Interest rate cap	$	80	$	742	$	239	$	77
Total	$	80	$	742	$	239	$	77

Commitments and Contingencies

6 Months Ended

Jun. 26, 2021

EWC Ventures, LLC and Subsidiaries [Member]

Commitments and contingencies

9. Commitments and contingencies

Exit or Disposal Activities

During fiscal year 2019, the Company relocated its corporate headquarters from Hallandale Beach, Florida to Plano, Texas. As a result of this relocation, the Company vacated a portion of its leased properties in Hallandale Beach and recognized an exit obligation charge and related exit obligation liability on the cease-use date, in accordance with ASC 420, Exit or Disposal Cost Obligations. In fiscal year 2020, the Company vacated the remaining portion of the leased property in Hallandale Beach and recognized an exit obligation charge and related liability on the cease-use date for the remaining portion of the property. A summary of the exit liability and related activity for the periods presented is as follows:


	Exit Cost Obligation – Leases
Exit cost obligation at December 26, 2020	$	615
Accretion		4
Payments		(180	)
Exit cost obligation at June 26, 2021	$	439

The charges, recorded as selling, general and administrative expenses on the condensed consolidated statements of operations and comprehensive income (loss), primarily included the present value of the remaining lease obligation on the cease use dates, net of estimated sublease income.

The current and non-current components of the exit liabilities related to the leased property were included within accounts payable and accrued liabilities and other long-term liabilities on the condensed consolidated balance sheets, respectively, as follows:


	June 26, 2021		December 26, 2020
Accounts payable and accrued liabilities	$	374	$	360
Other long-term liabilities		65		255
Total exit cost obligation	$	439	$	615

Litigation

The Company is exposed to various asserted and unasserted potential claims encountered in the normal course of business. Although the outcomes of potential legal proceedings are inherently difficult to predict, the Company does not expect the resolution of these occasional legal proceedings to have a material effect on its financial position, results of operations, or cash flow.

Revenue from Contract with Customers

6 Months Ended

Jun. 26, 2021

EWC Ventures, LLC and Subsidiaries [Member]

Revenue from Contract with Customers

10. Revenue from contracts with customers

Contract liabilities consist of deferred revenue resulting from franchise fees, which are generally recognized on a straight-line basis over the term of the underlying franchise agreement. Also included are service revenues from corporate-owned centers, including customer prepayments in connection with the Wax Pass program. Contract liabilities are classified as deferred revenue on the condensed consolidated balance sheets.

Deferred franchise fees are reduced as fees are recognized in revenue over the term of the franchise license for the respective center. Deferred service revenues are recognized over time as the services are performed. The following table reflects the change in contract liabilities for the periods indicated:


	Contract liabilities
Balance at December 26, 2020	$	8,879
Revenue recognized that was included in the contract liability at the beginning of the year		(956	)
Increase, excluding amounts recognized as revenue during the period		1,630
Balance at June 26, 2021	$	9,553

The weighted average remaining amortization period for deferred revenue is 4.5 years.

The following table illustrates estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of June 26, 2021. The Company has elected to exclude short term contracts, sales-based royalties and any other variable consideration recognized on an “as invoiced” basis.


Contract liabilities to be recognized in:	Amount
2021 (from June 27, 2021)	$	2,098
2022		1,086
2023		1,056
2024		997
2025		926
Thereafter		3,390
Total	$	9,553

The summary set forth below represents the balances in deferred revenue as of June 26, 2021 and December 26, 2020:


	June 26, 2021		December 26, 2020
Franchise fees	$	8,171	$	7,542
Service revenue		1,382		1,337
Total deferred revenue		9,553		8,879
Long-term portion of deferred revenue		6,801		6,528
Current portion of deferred revenue	$	2,752	$	2,351

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Related party transactions	6 Months Ended
Related party transactions	Jun. 26, 2021
EWC Ventures, LLC and Subsidiaries [Member]
Related Party Transactions	11. Related party transactions The Company recognized advances to certain related party members of $689 as of June 26, 2021 and December 26, 2020 related to payments of fees on behalf of the members in connection with the GA Acquisition. These advances are reported in advances to related parties within the condensed consolidated balance sheets. These advances were settled in August 2021 through a reduction of the tax distribution to members made in connection with the Reorganization Transactions discussed in Note 13. Additionally, the Company paid fees to certain members for consulting services provided to the Company. Related party consulting fees of $67 and $50 for the 13 weeks ended June 26, 2021 and June 27, 2020, respectively, and $100 and $100 for the 26 weeks ended June 26, 2021 and June 27, 2020, respectively, are included in selling, general, and administrative expenses in the condensed consolidated statements of operations and comprehensive income (loss). The term of the consulting services agreement ended in August 2021.

Net Income (Loss) Per Unit

6 Months Ended

Jun. 26, 2021

EWC Ventures, LLC and Subsidiaries [Member]

Net Income (Loss) Per Unit

12. Net income (loss) per unit

Net income (loss) per unit is computed using the “two-class” method by dividing the net income applicable to each respective class by the weighted average number of units outstanding during the period. The Company’s participating securities consist of incentive units underlying the Class B Unit and the Class D Units. There were no potential common units outstanding during the 13 or 26 weeks ended June 26, 2021 and June 27, 2020, respectively. As such, weighted average outstanding units are the same for both basic and diluted net income per unit.

Income per unit for the periods presented is computed as follows:


	Thirteen Weeks Ended						Twenty-Six Weeks Ended
	June 26, 2021			June 27, 2021			June 26, 2021			June 26, 2021

Net income (loss)	$	7,729		$	(11,372	)	$	8,831		$	(10,413	)
Less: preferred return on Class D Units		(681	)		(354	)		(1,309	)		(354	)
Less: net income allocated to participating securities		(665	)		—			(696	)		—
Net income (loss) applicable to common unitholders	$	6,383		$	(11,726	)	$	6,826		$	(10,767	)
Net income (loss) applicable by class of common units
Class A Founder Units	$	1,532		$	(2,807	)	$	1,638		$	(2,577	)
Class A Units		4,851			(8,919	)		5,188			(8,190	)
Net income (loss) applicable to common unitholders	$	6,383		$	(11,726	)	$	6,826		$	(10,767	)
Basic and diluted weighted average outstanding units
Class A Founder Units		8,309,193			8,309,193			8,309,193			8,309,193
Class A Units		26,311,170			26,401,089			26,317,099			26,401,089
Basic and diluted net income (loss) per unit applicable to unitholders:
Class A Founder Units	$	0.18		$	(0.34	)	$	0.20		$	(0.31	)
Class A Units	$	0.18		$	(0.34	)	$	0.20		$	(0.31	)

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 26, 2021
Subsequent Events	4. Subsequent events Reorganization Transactions On August 4, 2021, we completed an internal reorganization which is referred to as the ("Reorganization Transactions.") The Reorganization Transactions are more fully described in our prospectus dated August 4, 2021, filed with the Securities and Exchange Commission (the "SEC") on August 6, 2021 pursuant to Rule 424(b)(4) of the Securities Act of 1933, as amended (the "Prospectus"). The following actions were taken as a result of the Reorganization Transactions:  The Company made a distribution of $6.5 million to its members for the purpose of funding their tax obligations for periods prior to closing of the Corporation's initial public offering of its Class A common stock (the "IPO"). $5.8 million of the distribution was paid in cash and $0.7 million was made through settlement of receivables due from related parties.  The Corporation was appointed as the sole managing member of the Company.  The Company’s limited liability company agreement was amended and restated to provide that, among other things, all of the Company’s outstanding equity interests consisting of its Class A Units, Class B Unit, Class C Units and Class D Units were reclassified into EWC Ventures non-voting common units (“EWC Ventures Units”).  The Corporation’s certificate of incorporation was amended and restated under which the Corporation is authorized to issue up to 600,000,000 shares of Class A common stock, par value $0.00001 per share, 60,000,000 shares of Class B common stock, par value $0.00001 per share and 100,000,000 shares of preferred stock. The Class A common stock and Class B common stock each provide holders with one vote on all matters submitted to a vote of stockholders. The holders of Class B common stock do not have any of the economic rights provided to holders of Class A common stock.  The Corporation consummated the mergers of subsidiaries with and into affiliates of General Atlantic, L.P. (the “Blocker Companies”) and the surviving entities then merged with and into the Corporation.  As a result of the mergers, the Corporation acquired existing equity interests in the Company from the owners of the Blocker Companies in exchange for 21,540,982 shares of our Class A common stock and the rights to receive payments under a tax receivable agreement (the "Tax Receivable Agreement"), which is described below.  The continuing members of the Company (the “EWC Ventures Post-IPO Members’) subscribed for and purchased 36,740,956 shares of our Class B common stock at a purchase price of $0.00001 per share. The amount of Class B common stock purchased was equal to the number of EWC Ventures Units held by the EWC Ventures Post-IPO Members. Subject to certain restrictions EWC Ventures Post-IPO Members have the right to exchange their EWC Ventures Units, together with a corresponding number of shares of our Class B common stock for, at our option, (i) shares of our Class A common stock on a one-for-one basis (the “Share Exchange”) or (ii) cash (based on the market price of our Class A common stock) (the “Cash Exchange”).  The Corporation entered into the Tax Receivable Agreement with the Company’s pre-IPO members that provides for the payment by the Corporation to the pre-IPO members of 85% of the benefits, if any, that the Corporation realizes, or is deemed to realize (calculated using certain assumptions), as a result of (i) increases in our allocable share of certain existing tax basis of the Company’s assets resulting from the Corporation’s acquisition of EWC Ventures Units (along with corresponding shares of our Class B common stock) in the IPO and future Share Exchanges and Cash Exchanges, (ii) the Corporation's utilization of certain tax attributes of the Blocker Companies (including the Blocker Companies' allocable share of certain existing tax basis of the Company's assets) and (iii) certain other tax benefits related to entering into the Tax Receivable Agreement, including tax benefits attributable to payments under the Tax Receivable Agreement. Initial Public Offering and Debt Refinancing On August 4, 2021, the Corporation’s registration statement on Form S-1 was declared effective by the SEC related to the IPO of its Class A common stock. In connection with the closing of the IPO on August 9, 2021, the following actions were taken:  The Corporation issued and sold 9,829,204 shares of our Class A common stock at a price of $17.00 per share for net proceeds of $155.4 million after deducting underwriting discounts and commissions and prior to paying any offering expenses. In addition, certain of the Corporation's stockholders (the "selling stockholders") sold an additional 2,360,796 shares of Class A common stock. The Corporation received no proceeds from the sale of shares by the selling stockholders. The shares sold by the Corporation and the selling stockholders were inclusive of 1,590,000 shares of Class A common stock sold pursuant to the underwriters' option to purchase additional shares of Class A common stock.  The Company entered into a new credit agreement consisting of a $180.0 million term loan (“2026 Term Loan”) and a $40.0 million revolving credit facility (“2026 Revolving Credit Facility”) (together, the “2026 Credit Agreement”). The 2026 Credit Agreement matures on August 9, 2026. Borrowings under the 2026 Credit Agreement bear interest at a rate equal to, at our option, either (a) a LIBOR rate determined by reference to the cost of funds for Eurodollar deposits for the interest period relevant to such borrowing, adjusted for certain additional costs or (b) a base rate determined by reference to the highest of (i) the federal funds rate plus 0.50%, (ii) the prime rate of Bank of America, N.A. and (iii) the one month adjusted LIBOR plus 1.00%, in each case plus an applicable margin. In addition, the 2026 Credit Agreement requires a commitment fee in respect of unused revolving credit facility commitments ranging between 0.30% and 0.45% per annum (determined based on our total net leverage ratio) in respect of the unused commitments under the 2026 Credit Agreement.  The Corporation used the proceeds from its IPO to: o Contribute $104.9 million to the Company in exchange for 6,637,258 EWC Venture Units. The Company used these funds, together with proceeds from the 2026 Term Loan and cash on hand to:  Purchase 1,176,468 EWC Ventures Units and corresponding shares of Class B common stock for $20.0 million from certain EWC Ventures Post-IPO Members and employees in satisfaction of the Class C deferred payment obligations (as described in the Prospectus)  Repay all $268.7 million of the outstanding term and revolving loans under our previous term loan and revolving credit facility  Pay the offering expenses of $10.1 million  Pay $6.9 million of accrued interest, fees and expenses related to the refinancing, as well as other corporate expenses; and o Purchase 3,191,946 EWC Ventures Units and corresponding shares of Class B common stock for $50.5 million from certain EWC Ventures Post-IPO Members Following the Reorganization Transactions, IPO and debt refinancing transactions described above our capital structure consisted of the following:  63,742,728 shares of common stock consisting of: o 31,370,186 shares of our Class A common stock o 32,372,542 shares of our Class B common stock  $180.0 million outstanding under the 2026 Term Loan  An undrawn $40.0 million 2026 Revolving Credit Facility Immediately following the Reorganization Transactions and the closing of the IPO, the Company is the predecessor of the Corporation for financial reporting purposes. The Corporation is a holding company, and its sole material asset is its equity interest in the Company. As the sole managing member of the Company, the Corporation operates and controls all of the businesses and affairs of the Company and has a substantial financial interest in the Company. As such, the Corporation will consolidate the Company on its consolidated financial statements and will record a noncontrolling interest on its consolidated balance sheets and consolidated statements of operations and comprehensive income (loss) to reflect the entitlement of the EWC Ventures Post-IPO Members to a portion of the Company’s net income (loss). The Reorganization Transactions will be accounted for as a reorganization of entities under common control and the Corporation will recognize the assets and liabilities received in the reorganization at their historical carrying amounts as reflected in the historical consolidated financial statements of the Company. Equity-based Compensation In connection with our IPO, our board of directors adopted our 2021 Omnibus Incentive Plan (the “2021 Incentive Plan”) which became effective upon consummation of our IPO. The 2021 Incentive Plan provides for an aggregate of 6,374,273 shares of Class A common stock that are reserved for issuance in respect of awards granted under the 2021 Incentive Plan. In addition, the number of shares reserved for issuance under the 2021 Incentive Plan will automatically increase each fiscal year beginning with fiscal year 2022 and ending with fiscal year 2031 by the lesser of (a) 1% of the total number of shares outstanding on the last day of the immediately preceding fiscal year on a fully diluted basis assuming that all shares available for issuance under the 2021 Incentive Plan are issued and outstanding or (b) such number of shares determined by our board of directors. In connection with our IPO, we granted 476,888 restricted stock units (“RSUs”) and 322,997 stock options with an exercise price of $17.00 per share to certain directors and employees under the 2021 Incentive Plan. The RSUs granted will vest in three equal installments of 33.33% on each of the first three anniversaries of the date of grant, and the stock options granted will cliff vest on the third anniversary of the date of grant, subject in all cases to continued employment on the applicable vesting date. In connection with the Reorganization Transactions and the pricing of the IPO, all of the Company's outstanding equity interests, including its Class B Units, were reclassified into EWC Ventures Units, based on a hypothetical liquidation of EWC Ventures at the initial public offering price per share of our Class A common stock. In addition, all of EWC Management Holdco LLC's ("EWC Management Holdco") Class B Units were reclassified into the number of vested and unvested common units of EWC Management Holdco equal to the number of EWC Ventures Units into which such Class B Units would have been reclassified pursuant to the prior sentence. Prior to the consummation of the IPO, 827,348 outstanding performance-vesting Class B Units that would have vested upon achievement of 2.0x multiple on invested capital (“MOIC”) or a 2.5x MOIC were converted to time-vesting units and will vest as if the units were time-vesting units on the initial date of grant; provided that, such units shall still fully vest upon achievement of 2.0x MOIC or a 2.5x MOIC, as applicable. The 838,663 outstanding performance vesting Class B Units that would have vested upon achievement of 3.0x MOIC will convert into performance vesting units eligible to vest on a 3.0x MOIC and will also be eligible to vest upon the occurrence of either (i) the achievement of a 2.0x MOIC at such time as General Atlantic’s investment in the Company is no less than 35% of the fully diluted units of the Company or (ii) the first of December 31, 2022, March 31, 2023, June 30, 2023, September 30, 2023 or December 31, 2023 on which a specific volume weighted average trading price of our Class A common stock is achieved.
EWC Ventures, LLC and Subsidiaries [Member]
Subsequent Events	13. Subsequent Events Reorganization Transactions On August 4, 2021, we completed an internal reorganization which is referred to as the ("Reorganization Transactions.") The Reorganization Transactions are more fully described in our prospectus dated August 4, 2021, filed with the SEC on August 6, 2021 pursuant to rule 424(b)(4) of the Securities Act of 1933, as amended. The following actions were taken as a result of the Reorganization Transactions:  The Company made a distribution of $6.5 million to its members for the purpose of funding their tax obligations for periods prior to closing of European Wax Center, Inc.'s (the "Corporation") initial public offering of the Corporation's Class A common stock (the "IPO"). $5.8 million of the distribution was paid in cash and $0.7 million was made through settlement of receivables due from related parties.  The Corporation was appointed as the sole managing member of the Company.  The Company’s limited liability company agreement was amended and restated to provide that, among other things, all of the Company’s outstanding equity interests consisting of its Class A Units, Class B Unit, Class C Units and Class D Units were reclassified into EWC Ventures non-voting common units (“EWC Ventures Units”).  The Corporation’s certificate of incorporation was amended and restated under which the Corporation is authorized to issue up to 600,000,000 shares of Class A common stock, par value $0.00001 per share, 60,000,000 shares of Class B common stock, par value $0.00001 per share and 100,000,000 shares of preferred stock. The Class A common stock and Class B common stock each provide holders with one vote on all matters submitted to a vote of stockholders. The holders of Class B common stock do not have any of the economic rights provided to holders of Class A common stock.  The Corporation consummated the mergers of subsidiaries with and into affiliates of General Atlantic (the “Blocker Companies”) and the surviving entities then merged with and into the Corporation.  As a result of the mergers, the Corporation acquired existing equity interests in the Company from the owners of the Blocker Companies in exchange for 21,540,982 shares of the Corporation's Class A common stock and the rights to receive payments under a tax receivable agreement (the "Tax Receivable Agreement"), which is described below.  The continuing members of the Company (the “EWC Ventures Post-IPO Members’) subscribed for and purchased 36,740,956 shares of our Class B common stock at a purchase price of $0.00001 per share. The amount of Class B common stock purchased was equal to the number of EWC Ventures Units held by the EWC Ventures Post-IPO Members. Subject to certain restrictions EWC Ventures Post-IPO Members have the right to exchange their EWC Ventures Units, together with a corresponding number of shares of the Corporation's Class B common stock for, at the Corporation's option, (i) shares of the Corporation's Class A common stock on a one-for-one basis (the “Share Exchange”) or (ii) cash (based on the market price of the Corporation's Class A common stock) (the “Cash Exchange”).  The Corporation entered into the Tax Receivable Agreement with the Company’s pre-IPO members that provides for the payment by the Corporation to the pre-IPO members of 85% of the benefits, if any, that the Corporation realizes, or is deemed Initial Public Offering and Debt Refinancing On August 4, 2021, the Corporation’s registration statement on Form S-1 was declared effective by the SEC related to the IPO of its Class A common stock. In connection with the closing of the IPO on August 9, 2021, the following actions were taken:  The Corporation issued and sold 9,829,204 shares of its Class A common stock at a price of $17.00 per share for net proceeds of $155.4 million after deducting underwriting discounts and commissions and prior to paying any offering expenses. In addition, certain of the Corporation's stockholders (the "selling stockholders") sold an additional 2,360,796 shares of the Corporation's Class A common stock. The Corporation received no proceeds from the sale of shares by the selling stockholders. The shares sold by the Corporation and the selling stockholders were inclusive of 1,590,000 shares of the Corporation's Class A common stock sold pursuant to the underwriters' option to purchase additional shares of the Corporation's Class A common stock.  The Company entered into a new credit agreement consisting of a $180.0 million term loan (“2026 Term Loan”) and a $40.0 million revolving credit facility (“2026 Revolving Credit Facility”) (together, the “2026 Credit Agreement”). The 2026 Credit Agreement matures on August 9, 2026. Borrowings under the 2026 Credit Agreement bear interest at a rate equal to, at our option, either (a) a LIBOR rate determined by reference to the cost of funds for Eurodollar deposits for the interest period relevant to such borrowing, adjusted for certain additional costs or (b) a base rate determined by reference to the highest of (i) the federal funds rate plus 0.50%, (ii) the prime rate of Bank of America, N.A. and (iii) the one month adjusted LIBOR plus 1.00%, in each case plus an applicable margin. In addition, the 2026 Credit Agreement requires a commitment fee in respect of unused revolving credit facility commitments ranging between 0.30% and 0.45% per annum (determined based on our total net leverage ratio) in respect of the unused commitments under the 2026 Credit Agreement.  The Corporation used the proceeds from its IPO to: o Contribute $104.9 million to the Company in exchange for 6,637,258 EWC Venture Units. The Company used these funds, together with proceeds from the 2026 Term Loan and cash on hand to:  Purchase 1,176,468 EWC Ventures Units and corresponding shares of Class B common stock for $20.0 million from certain EWC Ventures Post-IPO Members and employees in satisfaction of the Class C deferred payment obligations (as described in the Prospectus)  Repay all $268.7 million of the outstanding term and revolving loans under our previous credit facility  Pay the offering expenses of $10.1 million  Pay $6.9 million of accrued interest, fees and expenses related to the refinancing, as well as other corporate expenses; and o Purchase 3,191,946 EWC Ventures Units and corresponding shares of the Corporation's Class B common stock for $50.5 million from certain EWC Ventures Post-IPO Members Following the Reorganization Transactions, IPO and debt refinancing transactions described above our capital structure consisted of the following:  63,742,728 shares of common stock consisting of: o 31,370,186 shares of our Class A common stock o 32,372,542 shares of our Class B common stock  $180.0 million outstanding under the 2026 Term Loan  An undrawn $40.0 million 2026 Revolving Credit Facility Immediately following the Reorganization Transactions and the closing of the IPO, the Company is the predecessor of the Corporation for financial reporting purposes. The Corporation is a holding company, and its sole material asset is its equity interest in the Company. As the sole managing member of the Company, the Corporation operates and controls all of the businesses and affairs of the Company and has a substantial financial interest in the Company. As such, the Corporation will consolidate the Company on its consolidated financial statements and will record a noncontrolling interest on its consolidated balance sheets and consolidated statements of operations and comprehensive income (loss) to reflect the entitlement of the EWC Ventures Post-IPO Members to a portion of the Company’s net income (loss). The Reorganization Transactions will be accounted for as a reorganization of entities under common control and the Corporation will recognize the assets and liabilities received in the reorganization at their historical carrying amounts as reflected in the historical consolidated financial statements of the Company. Equity-based Compensation In connection with our IPO, the Corporation's board of directors adopted the European Wax Center, Inc. 2021 Omnibus Incentive Plan (the “2021 Incentive Plan”) which became effective upon consummation of the IPO. The 2021 Incentive Plan provides for an aggregate of 6,374,273 shares of Class A common stock that are reserved for issuance in respect of awards granted under the 2021 Incentive Plan. In addition, the number of shares reserved for issuance under the 2021 Incentive Plan will automatically increase each fiscal year beginning with fiscal year 2022 and ending with fiscal year 2031 by the lesser of (a) 1% of the total number of shares outstanding on the last day of the immediately preceding fiscal year on a fully diluted basis assuming that all shares available for issuance under the 2021 Incentive Plan are issued and outstanding or (b) such number of shares determined by the Corporation's board of directors. In connection with the IPO, the Corporation granted 476,888 restricted stock units (“RSUs”) and 322,997 stock options with an exercise price of $17.00 per share to certain directors and employees under the 2021 Incentive Plan. The RSUs granted will vest in three equal installments of 33.33% on each of the first three anniversaries of the date of grant, and the stock options granted will cliff vest on the third anniversary of the date of grant, subject in all cases to continued employment on the applicable vesting date. In connection with the Reorganization Transactions and the pricing of the IPO, all of the Company's outstanding equity interests, including its Class B Units, were reclassified into EWC Ventures Units, based on a hypothetical liquidation of EWC Ventures at the initial public offering price per share of the Corporation's Class A common stock. In addition, all of EWC Management Holdco LLC's ("EWC Management Holdco") Class B Units were reclassified into the number of vested and unvested common units of EWC Management Holdco equal to the number of EWC Ventures Units into which such Class B Units would have been reclassified pursuant to the prior sentence. Prior to the consummation of the IPO, 827,348 outstanding performance-vesting Class B Units that would have vested upon achievement of 2.0x multiple on invested capital (“MOIC”) or a 2.5x MOIC were converted to time-vesting units and will vest as if the units were time-vesting units on the initial date of grant; provided that, such units shall still fully vest upon achievement of 2.0x MOIC or a 2.5x MOIC, as applicable. The 838,663 outstanding performance vesting Class B Units that would have vested upon achievement of 3.0x MOIC will convert into performance vesting units eligible to vest on a 3.0x MOIC and will also be eligible to vest upon the occurrence of either (i) the achievement of a 2.0x MOIC at such time as General Atlantic’s investment in the Company is no less than 35% of the fully diluted units of the Company or (ii) the first of December 31, 2022, March 31, 2023, June 30, 2023, September 30, 2023 or December 31, 2023 on which a specific volume weighted average trading price of the Corporation's Class A common stock is achieved.

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 26, 2021
Basis of accounting	Basis of accounting The balance sheet has been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Separate statements of operations, comprehensive income, changes in stockholder’s equity, and cash flows have not been presented in the financial statements because the Corporation has had no activities.
EWC Ventures, LLC and Subsidiaries [Member]
Basis of presentation and consolidation	(a) Basis of presentation and consolidation The accompanying unaudited condensed consolidated financial statements have been presented in conformity with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The condensed consolidated balance sheet as of December 26, 2020 is derived from the audited consolidated financial statements but does not include all disclosures required by GAAP. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes thereto for the year ended December 26, 2020 included in our prospectus dated August 4, 2021, filed with the SEC on August 6, 2021 pursuant to Rule 424(b)(4) of the Securities Act of 1933, as amended (referred to herein as the “Prospectus”). In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all normal recurring adjustments necessary for a fair statement of the Company’s financial position, results of operations, and cash flows for the periods presented. All intercompany accounts and transactions have been eliminated in consolidation. Accounting policies used in the preparation of these unaudited condensed consolidated financial statements are consistent with the accounting policies described in the audited consolidated financial statements and the related notes thereto for the year ended December 26, 2020 included in our Prospectus.
Use of estimates	(b) Use of estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Although these estimates are based on management’s knowledge of current events and actions it may undertake in the future, they may ultimately differ from actual results. Significant areas where estimates and judgments are relied upon by management in the preparation of the financial statements include revenue recognition, inventory reserves, the expected life of franchise agreements, the useful life of reacquired rights, valuation of equity-based compensation awards, and the evaluation of the recoverability of goodwill and long-lived assets, including indefinite-lived intangible assets. Actual results could differ from those estimates.
COVID 19 pandemic	(c) COVID-19 pandemic The Company is continuing to monitor the ongoing COVID-19 pandemic and its impact on its business. Beginning in March 2020, in response to the COVID-19 pandemic, most franchisees temporarily closed their centers in order to promote the health and safety of its members, team members and their communities. In April 2020, the entire franchise network was temporarily closed. Beginning in May 2020, certain governors announced steps to restart non-essential business operations in their respective states and certain centers began to re-open. As of June 2021, all of the Company’s nationwide network had re-opened. However, there is a significant amount of uncertainty about the effects a resurgence in COVID-19 cases could have on our business, our industry and overall economic activity.
Implications of being an emerging growth company	(d) Implications of being an Emerging Growth Company The Company is an emerging growth company as defined in the Jumpstart Our Business Startups Act of 2012 (“JOBS Act”) and may take advantage of reduced reporting requirements that are otherwise applicable to public companies. Section 107 of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies are required to comply with those standards. The Company has elected to use the extended transition period for complying with new or revised accounting standards.
Recently adopted accounting pronouncements	(e) Recently adopted accounting pronouncements In August 2018, the FASB issued ASU 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. Under this standard, companies will apply the same criteria for capitalizing implementation costs as they would for an arrangement that has a software license. The adoption of this new guidance prescribes the balance sheet, statement of operations, and cash flow classification of the capitalized implementation costs and related amortization expense, and additional quantitative and qualitative disclosures. This standard is effective for fiscal years beginning after December 15, 2021. This standard may be applied either prospectively to eligible costs incurred on or after the date of the new guidance or retrospectively. The Company adopted this standard on December 27, 2020 (the beginning of its fiscal year 2021) on a prospective basis. The adoption of this standard did not have a significant impact on our financial statements.
Recently issued accounting pronouncements not yet adopted	(f) Recently issued accounting pronouncements not yet adopted In February 2016, the FASB issued ASU 2016-02, Leases and established ASC Topic 842, Leases (“ASC 842”), which supersedes ASC Topic 840, Leases. ASC 842 requires a lessee to recognize a lease right-of-use (“ROU”) asset and a corresponding lease liability on its balance sheet along with additional qualitative and quantitative disclosures. ROU assets and lease liabilities are recognized at the commencement date based on the present value of future payments. ASC 842 is effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022, with early adoption permitted. The Company is currently evaluating the effect the adoption of this standard will have on its financial statements, including the materiality of the addition of ROU assets and lease liabilities on its balance sheet. In June 2017, the FASB issued ASU 2016-13, Financial Instruments (Topic 326)—Measurement of Credit Losses on Financial Instruments, which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost. The standard replaces the existing incurred loss impairment model with an expected loss methodology, which will result in more timely recognition of credit losses. ASU 2016-13, and related amendments, are effective for fiscal years beginning after December 15, 2022. The Company has not completed its assessment of the standard but does not expect the adoption to have a material impact on its financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments in this update, as well as subsequently issued amendments, provide temporary, optional guidance to ease the burden in accounting for reference rate reform. The amendments provide optional expedients and exceptions for applying GAAP to transactions affected by reference rate reform if certain criteria are met. The amendments primarily include relief related to contract modifications and hedging relationships. The relief provided by this ASU does not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022. However, hedging relationships that apply certain optional expedients prior to December 31, 2022, will be retained through the end of the hedging relationship, including for periods after December 31, 2022. We will evaluate the impact of this guidance as contracts are modified through December 2022.

Fair Value Measurements (Tables)

6 Months Ended

Jun. 26, 2021

EWC Ventures, LLC and Subsidiaries [Member]

Schedule of fair value measurements

Fair value measurements are summarized below:


	Fair Market Value			Quoted prices in active markets for identical assets (Level 1)		Significant observable inputs (Level 2)			Significant unobservable inputs (Level 3)
Interest rate cap
June 26, 2021	$	(272	)	$	—	$	(272	)	$	—
December 26, 2020	$	(527	)	$	—	$	(527	)	$	—

Prepaid Expenses and Other Current Assets (Tables)

6 Months Ended

Jun. 26, 2021

EWC Ventures, LLC and Subsidiaries [Member]

Schedule of Prepaid expenses and other current assets

Prepaid expenses and other current assets consisted of the following:


	June 26, 2021		December 26, 2020
Prepaid inventory	$	—	$	2,000
Deferred IPO fees		7,183		39
Prepaid other & other current assets		5,400		2,535
Total	$	12,583	$	4,574

Intangible Assets Net (Tables) - EWC Ventures, LLC and Subsidiaries [Member]

6 Months Ended

Jun. 26, 2021

Summary of Intangible Assets

A summary of intangible assets as of June 26, 2021 and December 26, 2020 is as follows:


	June 26, 2021
	Weighted Average Remaining Useful Life (Years)		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Franchisee relationships		7.24	$	114,594	$	(31,584	)	$	83,010
Reacquired rights		8.79		76,557		(12,133	)		64,424
Favorable lease assets		0.74		170		(134	)		36
				191,321		(43,851	)		147,470
Indefinite-lived intangible:
Trade name	N/A			63,814		—			63,814
Total intangible assets			$	255,135	$	(43,851	)	$	211,284


	December 26, 2020
	Weighted Average Remaining Useful Life (Years)		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Franchisee relationships		7.74	$	114,594	$	(25,870	)	$	88,724
Reacquired rights		9.19		68,973		(8,304	)		60,669
Favorable lease assets		1.24		170		(110	)		60
				183,737		(34,284	)		149,453
Indefinite-lived intangible:
Trade name	N/A			63,814		—			63,814
Total intangible assets			$	247,551	$	(34,284	)	$	213,267

Schedule of Future Amortization Expenses of Intangible Assets

Future expected amortization expense of the Company’s intangible assets as of June 26, 2021 is as follows:


Fiscal Years Ending	Franchisee Relationships		Reacquired Rights		Favorable Lease Assets
2021 (from June 27, 2021)	$	5,714	$	3,682	$	24
2022		11,428		7,364		12
2023		11,428		7,364	—
2024		11,428		7,364	—
2025		11,428		7,364	—
Thereafter		31,584		31,286	—
Total	$	83,010	$	64,424	$	36

Accounts Payable and Accrued Liabilities (Tables)

6 Months Ended

Jun. 26, 2021

EWC Ventures, LLC and Subsidiaries [Member]

Schedule of Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities consisted of the following:


	June 26, 2021		December 26, 2020
Accounts payable	$	7,393	$	615
Accrued inventory		3,238		3,321
Accrued compensation		3,684		2,169
Accrued taxes and penalties		1,762		1,732
Accrued lease termination costs		374		360
Accrued technology and subscription fees		523		1,536
Accrued interest		1,379		1,440
Accrued professional fees		4,245		967
Other accrued liabilities		1,240		1,349
Total Accounts payable and accrued liabilities	$	23,838	$	13,489

Long-term Debt, Net (Tables)

6 Months Ended

Jun. 26, 2021

EWC Ventures, LLC and Subsidiaries [Member]

Schedule of Debt

Long-term debt consists of the following:


	June 26, 2021			December 26, 2020
Term Loan	$	239,338		$	240,552
Revolving Credit Facility		30,000			30,000
Less: current portion		(2,428	)		(2,428	)
Total long-term debt		266,910			268,124
Less: unamortized deferred financing costs		(4,465	)		(5,149	)
Total long-term debt, net	$	262,445		$	262,975

Derivative Instruments and Hedging Activities (Tables) - EWC Ventures, LLC and Subsidiaries [Member]

6 Months Ended

Jun. 26, 2021

Derivative Instruments And Hedging Activities Disclosures [Line Items]

Schedule of Interest Rate Derivatives

Our cash flow hedge position related to the interest rate cap derivative instrument is as follows:


	Balance Sheet Classification	June 26, 2021			December 26, 2020
Derivatives designated as hedging instruments:
Interest rate cap, current portion	Other current liabilities	$	(181	)	$	(181	)
Interest rate cap, non-current portion	Other long-term liabilities		(91	)		(346	)
Total derivative liabilities designated as hedging instruments		$	(272	)	$	(527	)

Schedule of Net Unrealized Gain Recognized in Other Comprehensive Income (“OCI”)

The table below presents the net unrealized gain recognized in other comprehensive income (“OCI”) resulting from fair value adjustments of hedging instruments:


	Net Unrealized Gain Recognized in OCI
	Thirteen Weeks Ended June 26, 2021		Thirteen Weeks Ended June 27, 2020		Twenty-Six Weeks Ended June 26, 2021		Twenty-Six Weeks Ended June 26, 2021
Derivatives designated as hedging instruments:
Interest rate cap	$	80	$	742	$	239	$	77
Total	$	80	$	742	$	239	$	77

Commitments and Contingencies (Tables) - EWC Ventures, LLC and Subsidiaries [Member]

6 Months Ended

Jun. 26, 2021

Summary of Exit Liability And Related Activity

A summary of the exit liability and related activity for the periods presented is as follows:


	Exit Cost Obligation – Leases
Exit cost obligation at December 26, 2020	$	615
Accretion		4
Payments		(180	)
Exit cost obligation at June 26, 2021	$	439

Summary of Current And Non Current Components of Exit Liabilities


	June 26, 2021		December 26, 2020
Accounts payable and accrued liabilities	$	374	$	360
Other long-term liabilities		65		255
Total exit cost obligation	$	439	$	615

Revenue from Contract with Customers (Tables)

6 Months Ended

Jun. 26, 2021

Summary of Balances in Deferred Revenue

The summary set forth below represents the balances in deferred revenue as of June 26, 2021 and December 26, 2020:


	June 26, 2021		December 26, 2020
Franchise fees	$	8,171	$	7,542
Service revenue		1,382		1,337
Total deferred revenue		9,553		8,879
Long-term portion of deferred revenue		6,801		6,528
Current portion of deferred revenue	$	2,752	$	2,351

EWC Ventures, LLC and Subsidiaries [Member]

Schedule of Changes in Contract Liabilities

The following table reflects the change in contract liabilities for the periods indicated:


	Contract liabilities
Balance at December 26, 2020	$	8,879
Revenue recognized that was included in the contract liability at the beginning of the year		(956	)
Increase, excluding amounts recognized as revenue during the period		1,630
Balance at June 26, 2021	$	9,553

Schedule of Revenue Expected to be Recognized in Future Related to Performance Obligations


Contract liabilities to be recognized in:	Amount
2021 (from June 27, 2021)	$	2,098
2022		1,086
2023		1,056
2024		997
2025		926
Thereafter		3,390
Total	$	9,553

Net Income (Loss) Per Unit (Tables)

6 Months Ended

Jun. 26, 2021

EWC Ventures, LLC and Subsidiaries [Member]

Schedule of Income Per Unit

Income per unit for the periods presented is computed as follows:


	Thirteen Weeks Ended						Twenty-Six Weeks Ended
	June 26, 2021			June 27, 2021			June 26, 2021			June 26, 2021

Net income (loss)	$	7,729		$	(11,372	)	$	8,831		$	(10,413	)
Less: preferred return on Class D Units		(681	)		(354	)		(1,309	)		(354	)
Less: net income allocated to participating securities		(665	)		—			(696	)		—
Net income (loss) applicable to common unitholders	$	6,383		$	(11,726	)	$	6,826		$	(10,767	)
Net income (loss) applicable by class of common units
Class A Founder Units	$	1,532		$	(2,807	)	$	1,638		$	(2,577	)
Class A Units		4,851			(8,919	)		5,188			(8,190	)
Net income (loss) applicable to common unitholders	$	6,383		$	(11,726	)	$	6,826		$	(10,767	)
Basic and diluted weighted average outstanding units
Class A Founder Units		8,309,193			8,309,193			8,309,193			8,309,193
Class A Units		26,311,170			26,401,089			26,317,099			26,401,089
Basic and diluted net income (loss) per unit applicable to unitholders:
Class A Founder Units	$	0.18		$	(0.34	)	$	0.20		$	(0.31	)
Class A Units	$	0.18		$	(0.34	)	$	0.20		$	(0.31	)

Stockholder's Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 26, 2021	Apr. 01, 2021
Common Stock, Shares Authorized	1,000	1,000
Common Stock, Par Value	$ 0.00001	$ 0.00001
Common Stock, Shares, Issued	100	100
Common Stock, Shares, Outstanding	100	100
Aggregate Consideration Cost	$ 100

Fair Value Measurements (Details) - EWC Ventures, LLC and Subsidiaries [Member] - USD ($) $ in Thousands	Jun. 26, 2021	Dec. 26, 2020
Fair Value Option Quantitative Disclosures [Line Items]
Interest rate cap	$ (272)	$ (527)
Quoted prices in active markets for identical assets (Level 1)
Fair Value Option Quantitative Disclosures [Line Items]
Interest rate cap	0	0
Significant observable inputs (Level 2)
Fair Value Option Quantitative Disclosures [Line Items]
Interest rate cap	(272)	(527)
Significant unobservable inputs (Level 3)
Fair Value Option Quantitative Disclosures [Line Items]
Interest rate cap	$ 0	$ 0

Fair Value Measurements - Additional Information (Details) - EWC Ventures, LLC and Subsidiaries [Member] $ in Thousands	Jun. 26, 2021 USD ($)
Revolving Credit Facility [Member]
Fair Value Option Quantitative Disclosures [Line Items]
Debt Instrument, Fair Value Disclosure	$ 30,000
Term Loan [Member]
Fair Value Option Quantitative Disclosures [Line Items]
Debt Instrument, Fair Value Disclosure	$ 239,338

Prepaid Expenses and Other Current Assets (Details) - EWC Ventures, LLC and Subsidiaries [Member] - USD ($) $ in Thousands	Jun. 26, 2021	Dec. 26, 2020
Prepaid Expenses And Other Current Assets Details [Line Items]
Prepaid inventory	$ 0	$ 2,000
Deferred IPO fees	7,183	39
Prepaid other & other current assets	5,400	2,535
Total	$ 12,583	$ 4,574

Intangible Assets Net - Summary of Intangible Assets (Details) - EWC Ventures, LLC and Subsidiaries [Member] - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 26, 2021	Dec. 26, 2020
Indefinite Lived Intangible Assets By Major Class [Line Items]
Gross Carrying Value	$ 255,135	$ 247,551
Net Carrying Value	$ 211,284	213,267
Weighted Average Remaining Useful Life (Years)	10 years
Accumulated Amortization	$ (43,851)	(34,284)
Finite-Lived Intangible Assets
Indefinite Lived Intangible Assets By Major Class [Line Items]
Gross Carrying Value	191,321	183,737
Accumulated Amortization	(43,851)	(34,284)
Net Carrying Value	147,470	$ 149,453
Franchisee Relationships [Member]
Indefinite Lived Intangible Assets By Major Class [Line Items]
Net Carrying Value	$ 83,010
Franchisee Relationships [Member] \| Finite-Lived Intangible Assets
Indefinite Lived Intangible Assets By Major Class [Line Items]
Weighted Average Remaining Useful Life (Years)	7 years 2 months 26 days	7 years 8 months 26 days
Gross Carrying Value	$ 114,594	$ 114,594
Accumulated Amortization	(31,584)	(25,870)
Net Carrying Value	83,010	$ 88,724
Reacquired Rights [Member]
Indefinite Lived Intangible Assets By Major Class [Line Items]
Net Carrying Value	$ 64,424
Reacquired Rights [Member] \| Finite-Lived Intangible Assets
Indefinite Lived Intangible Assets By Major Class [Line Items]
Weighted Average Remaining Useful Life (Years)	8 years 9 months 14 days	9 years 2 months 8 days
Gross Carrying Value	$ 76,557	$ 68,973
Accumulated Amortization	(12,133)	(8,304)
Net Carrying Value	64,424	$ 60,669
Favorable Lease Assets [Member]
Indefinite Lived Intangible Assets By Major Class [Line Items]
Net Carrying Value	$ 36
Favorable Lease Assets [Member] \| Finite-Lived Intangible Assets
Indefinite Lived Intangible Assets By Major Class [Line Items]
Weighted Average Remaining Useful Life (Years)	8 months 26 days	1 year 2 months 26 days
Gross Carrying Value	$ 170	$ 170
Accumulated Amortization	(134)	(110)
Net Carrying Value	36	60
Trade Name [Member] \| Indefinite lived Intangible Assets [Member]
Indefinite Lived Intangible Assets By Major Class [Line Items]
Gross Carrying Value	63,814	63,814
Accumulated Amortization	0	0
Net Carrying Value	$ 63,814	$ 63,814

Intangible Assets Net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2021	Jun. 27, 2020	Jun. 26, 2021	Jun. 27, 2020
Finite-Lived Intangible Assets [Line Items]
Consideration amount			$ 7,594	$ 33,026
Consideration Amount Related To Purchase Price Holdbacks			50	1,588
EWC Ventures, LLC and Subsidiaries [Member]
Finite-Lived Intangible Assets [Line Items]
Reacquisition Costs			7,644	34,614
Consideration amount			$ 7,594	33,026
Consideration Amount Related To Purchase Price Holdbacks				1,588
Term of Representative Agreements			10 years
EWC Ventures, LLC and Subsidiaries [Member] \| Reacquired Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization Expense For Reacquired Rights	$ 1,989	$ 1,771	$ 3,829	3,429
EWC Ventures, LLC and Subsidiaries [Member] \| Franchisee Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization Expense For Reacquired Rights	2,857	2,857	5,714	5,714
EWC Ventures, LLC and Subsidiaries [Member] \| Favorable Lease Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization Expense For Reacquired Rights	$ 12	$ 12	$ 24	$ 24
EWC Ventures, LLC and Subsidiaries [Member] \| Additional Agreements Term [Member]
Finite-Lived Intangible Assets [Line Items]
Term of Representative Agreements			10 years
EWC Ventures, LLC and Subsidiaries [Member] \| Accounts Payable And Accrued Liabilities [Member]
Finite-Lived Intangible Assets [Line Items]
Consideration Amount Related To Purchase Price Holdbacks			$ 50

Intangible Assets Net - Schedule of Future Expected Amortization Expense of Intangible Assets (Details) - EWC Ventures, LLC and Subsidiaries [Member] $ in Thousands	Jun. 26, 2021 USD ($)
Franchisee Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
2021 (from June 27, 2021)	$ 5,714
2022	11,428
2023	11,428
2024	11,428
2025	11,428
Thereafter	31,584
Net Carrying Value	83,010
Reacquired Rights [Member]
Finite-Lived Intangible Assets [Line Items]
2021 (from June 27, 2021)	3,682
2022	7,364
2023	7,364
2024	7,364
2025	7,364
Thereafter	31,286
Net Carrying Value	64,424
Favorable Lease Assets [Member]
Finite-Lived Intangible Assets [Line Items]
2021 (from June 27, 2021)	24
2022	12
2023	0
2024	0
2025	0
Thereafter	0
Net Carrying Value	$ 36

Accounts Payable and Accrued Liabilities (Details) - EWC Ventures, LLC and Subsidiaries [Member] - USD ($) $ in Thousands	Jun. 26, 2021	Dec. 26, 2020
Payables And Accruals [Line Items]
Accounts payable	$ 7,393	$ 615
Accrued inventory	3,238	3,321
Accrued compensation	3,684	2,169
Accrued taxes and penalties	1,762	1,732
Accrued lease termination costs	374	360
Accrued technology and subscription fees	523	1,536
Accrued interest	1,379	1,440
Accrued professional fees	4,245	967
Other accrued liabilities	1,240	1,349
Total Accounts payable and accrued liabilities	$ 23,838	$ 13,489

Long-Term Debt - Long-Term Debt (Details) - EWC Ventures, LLC and Subsidiaries [Member] - USD ($) $ in Thousands	Jun. 26, 2021	Dec. 26, 2020
Debt Instrument [Line Items]
Term Loan	$ 239,338	$ 240,552
Less: current portion	(2,428)	(2,428)
Total long-term debt	266,910	268,124
Less: unamortized deferred financing costs	(4,465)	(5,149)
Total long-term debt, net	262,445	262,975
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Revolving Credit Facility	$ 30,000	$ 30,000

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Long-Term Debt - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 26, 2021	Jun. 26, 2021	Aug. 31, 2021	Aug. 09, 2021	Dec. 26, 2020
Revolving Credit Facility [Member] \| Subsequent Event [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity				$ 40,000
EWC Ventures, LLC and Subsidiaries [Member]
Debt Instrument [Line Items]
Credit Facility, Interest Rate During Period		6.50%
Debt Instrument, Basis Spread on Variable Rate	5.50%
Debt Instrument, Covenant Description	6,000
Term Loan	$ 239,338	$ 239,338			$ 240,552
EWC Ventures, LLC and Subsidiaries [Member] \| Subsequent Event [Member]
Debt Instrument [Line Items]
Term Loan			$ 180,000
EWC Ventures, LLC and Subsidiaries [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Covenant Description	1.00
EWC Ventures, LLC and Subsidiaries [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Covenant Description	8.75
EWC Ventures, LLC and Subsidiaries [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility maturity date	Sep. 25, 2024
Credit Facility, Interest Rate at Period End	4.25%	4.25%
Debt Instrument, Basis Spread on Variable Rate		3.50%
Line of Credit Facility, Maximum Borrowing Capacity	$ 30,000	$ 30,000
Revolving Credit Facility	$ 30,000	$ 30,000			$ 30,000
EWC Ventures, LLC and Subsidiaries [Member] \| Revolving Credit Facility [Member] \| Subsequent Event [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity				$ 40,000
Revolving Credit Facility			$ 40,000

Derivative Instruments and Hedging Activities - Additional Information (Details) - EWC Ventures, LLC and Subsidiaries [Member]	1 Months Ended
	Dec. 31, 2018 USD ($)
Derivatives Fair Value [Line Items]
Derivative Liability, Notional Amount	$ 175,000
Derivative, Notional Amount	$ 175,000
Derivative, Inception Date	Jan. 31, 2019
Derivative, Maturity Date	Sep. 25, 2024
Interest Rate Floor \| London Interbank Offered Rate (LIBOR) [Member]
Derivatives Fair Value [Line Items]
Derivative, Variable Interest Rate	4.50%
Interest Rate Cap
Derivatives Fair Value [Line Items]
Derivative, premium percentage	0.11486%
Interest Rate Cap \| London Interbank Offered Rate (LIBOR) [Member]
Derivatives Fair Value [Line Items]
Derivative, Cap Interest Rate	4.50%

Derivative Instruments and Hedging Activities - Summary of Interest Rate Derivative (Details) - EWC Ventures, LLC and Subsidiaries [Member] - Interest Rate Cap - Designated as Hedging Instrument - Cash Flow Hedging - USD ($) $ in Thousands	Jun. 26, 2021	Dec. 26, 2020
Derivatives designated as hedging instruments:
Total derivative liabilities designated as hedging instruments	$ (272)	$ (527)
Other Current Liabilities [Member]
Derivatives designated as hedging instruments:
Total derivative liabilities designated as hedging instruments	(181)	(181)
Other Long-Term Liabilities [Member]
Derivatives designated as hedging instruments:
Total derivative liabilities designated as hedging instruments	$ (91)	$ (346)

Derivative Instruments and Hedging Activities - Summary of Unrealized Gain Recognized in Other Comprehensive Income (Details) - EWC Ventures, LLC and Subsidiaries [Member] - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 26, 2021	Mar. 27, 2021	Jun. 27, 2020	Mar. 28, 2020	Jun. 26, 2021	Jun. 27, 2020
Derivatives designated as hedging instruments:
Total	$ 80	$ 159	$ 742	$ (665)
Other Comprehensive Income (Loss) \| Designated as Hedging Instrument
Derivatives designated as hedging instruments:
Total	80		742		$ 239	$ 77
Other Comprehensive Income (Loss) \| Interest Rate Cap \| Designated as Hedging Instrument
Derivatives designated as hedging instruments:
Total	$ 80		$ 742		$ 239	$ 77

Commitments and Contingencies - Summary of Exit Liability And Related Activity (Details) - EWC Ventures, LLC and Subsidiaries [Member] $ in Thousands	6 Months Ended
	Jun. 26, 2021 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Beginning Balance	$ 615
Accretion	4
Payments for Restructuring	180
Restructuring Reserve, Ending Balance	$ 439

Commitments and Contingencies - Summary of Current And Non Current Components of Exit Liabilities (Details) - EWC Ventures, LLC and Subsidiaries [Member] - USD ($) $ in Thousands	Jun. 26, 2021	Dec. 26, 2020
Restructuring Cost and Reserve [Line Items]
Accounts payable and accrued liabilities	$ 374	$ 360
Other long-term liabilities	65	255
Restructuring Reserve, Total	$ 439	$ 615

Revenue from Contract with Customers - Schedule of Changes in Contract Liabilities (Details) - EWC Ventures, LLC and Subsidiaries [Member] $ in Thousands	6 Months Ended
	Jun. 26, 2021 USD ($)
Disaggregation Of Revenue [Line Items]
Balance at December 26, 2020	$ 8,879
Revenue recognized that was included in the contract liability at the beginning of the year	(956)
Increase, excluding amounts recognized as revenue during the period	1,630
Balance at June 26, 2021	$ 9,553

Revenue from Contract with Customers - Additional Information (Details)	Jun. 26, 2021
EWC Ventures, LLC and Subsidiaries [Member] \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-06-27
Disaggregation Of Revenue [Line Items]
Weighted average remaining amortization period of deferred revenue	4 years 6 months

Revenue from Contract with Customers - Schedule of Revenue Expected to be Recognized in Future Related to Performance Obligations (Details) - EWC Ventures, LLC and Subsidiaries [Member] $ in Thousands	Jun. 26, 2021 USD ($)
Disaggregation Of Revenue [Line Items]
2021 (from June 27, 2021)	$ 2,098
2022	1,086
2023	1,056
2024	997
2025	926
Thereafter	3,390
Total	$ 9,553

Revenue from Contract with Customers - Summary of Balances in Deferred Revenue (Details) - EWC Ventures, LLC and Subsidiaries [Member] - USD ($) $ in Thousands	Jun. 26, 2021	Dec. 26, 2020
Disaggregation Of Revenue [Line Items]
Total deferred revenue	$ 9,553	$ 8,879
Long-term portion of deferred revenue	6,801	6,528
Current portion of deferred revenue	2,752	2,351
Franchise Fees [Member]
Disaggregation Of Revenue [Line Items]
Total deferred revenue	8,171	7,542
Service Revenue [Member]
Disaggregation Of Revenue [Line Items]
Total deferred revenue	$ 1,382	$ 1,337

Related Party Transactions (Details) - EWC Ventures, LLC and Subsidiaries [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2021	Jun. 27, 2020	Jun. 26, 2021	Jun. 27, 2020	Dec. 26, 2020
Related Party Transaction [Line Items]
Advances to related parties	$ 689		$ 689		$ 689
Consulting Fees, Related Party	$ 67	$ 50	$ 100	$ 100

Net Income (Loss) Per Unit - Schedule of Income Per Unit (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 26, 2021	Jun. 27, 2020	Jun. 26, 2021	Jun. 27, 2020
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income (loss)	$ 7,729	$ (11,372)	$ 8,831	$ (10,413)
EWC Ventures, LLC and Subsidiaries [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income (loss)	7,729	(11,372)	8,831	(10,413)
Less: net income allocated to participating securities	(665)	0	(696)	0
Net income (loss) applicable to common unitholders	6,383	(11,726)	6,826	(10,767)
EWC Ventures, LLC and Subsidiaries [Member] \| Class D Units [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Less: preferred return on Class D Units	(681)	(354)	(1,309)	(354)
EWC Ventures, LLC and Subsidiaries [Member] \| Class A Founders' Units [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income (loss) applicable to common unitholders	$ 1,532	$ (2,807)	$ 1,638	$ (2,577)
Basic and diluted weighted average units outstanding
Weighted Average Number of Shares Outstanding, Basic and Diluted	8,309,193	8,309,193	8,309,193	8,309,193
Basic and diluted net income (loss) per unit
Earnings Per Share, Basic and Diluted	$ 0.18	$ (0.34)	$ 0.20	$ (0.31)
EWC Ventures, LLC and Subsidiaries [Member] \| Class A Units [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income (loss) applicable to common unitholders	$ 4,851	$ (8,919)	$ 5,188	$ (8,190)
Basic and diluted weighted average units outstanding
Weighted Average Number of Shares Outstanding, Basic and Diluted	26,311,170	26,401,089	26,317,099	26,401,089
Basic and diluted net income (loss) per unit
Earnings Per Share, Basic and Diluted	$ 0.18	$ (0.34)	$ 0.20	$ (0.31)

Subsequent Events - Additional Information (Details) - USD ($)			3 Months Ended			6 Months Ended
	Aug. 09, 2021	Aug. 04, 2021	Jun. 26, 2021	Jun. 27, 2020	Mar. 28, 2020	Jun. 26, 2021	Aug. 31, 2021	Apr. 01, 2021	Dec. 26, 2020
Subsequent Event [Line Items]
Common Stock, Shares Authorized			1,000			1,000		1,000
Common Stock, Par Value			$ 0.00001			$ 0.00001		$ 0.00001
Common Stock, Shares, Issued			100			100		100
Common stock, par value $0.00001 per share, 1,000 shares authorized, 100 shares issued and outstanding			$ 0			$ 0		$ 0
Common Stock, Shares, Outstanding			100			100		100
Common stock, shares authorized			1,000			1,000		1,000
Common stock, par or stated value per share			$ 0.00001			$ 0.00001		$ 0.00001
Common stock, shares, issued			100			100		100
Common stock, shares, outstanding			100			100		100
Subsequent Event [Member]
Subsequent Event [Line Items]
Distributions		$ 6,500,000
Payment of cash distribution		5,800,000
Receivables due from related parties		$ 700,000
Preferred Stock, Shares Authorized		100,000,000
Repayments of Long-term Lines of Credit	$ 268,700,000
Net of Issuance Costs	$ 10,100,000
Common Stock, Shares, Outstanding	63,742,728
Preferred stock, shares authorized		100,000,000
Repayments of long-term lines of credit	$ 268,700,000
Payments of stock issuance costs	10,100,000
Refinancing fees and expenses	$ 6,900,000
Common stock, shares, outstanding	63,742,728
Subsequent Event [Member] \| Omnibus Incentive Plan Two Thousand And Twenty One [Member]
Subsequent Event [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	6,374,273
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	322,997
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price	$ 17.00
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	33.33%
Outstanding Performance-Vesting Class B Units on Achievement of Two Times MOIC	827,348
Outstanding Performance-Vesting Class B Units on Achievement of Three Times MOIC	838,663
Share-based compensation arrangement by share-based payment award, number of shares authorized	6,374,273
Stock granted during period, shares, restricted stock units	476,888
Share-based compensation arrangement by share-based payment award, options, grants in period, gross	322,997
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, exercise price	$ 17.00
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage	33.33%
Outstanding performance-vesting class B units on achievement of two times MOIC	827,348
Outstanding performance-vesting class B units on achievement of three times MOIC	838,663
Subsequent Event [Member] \| Minimum [Member]
Subsequent Event [Line Items]
Line of Credit Facility, Commitment Fee Percentage	0.30%
Line of credit facility, commitment fee percentage	0.30%
Subsequent Event [Member] \| Maximum [Member]
Subsequent Event [Line Items]
Line of Credit Facility, Commitment Fee Percentage	0.45%
Line of credit facility, commitment fee percentage	0.45%
Subsequent Event [Member] \| Federal Fund Rate [Member]
Subsequent Event [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Debt Instrument, basis spread on variable rate	0.50%
Subsequent Event [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Subsequent Event [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Debt Instrument, basis spread on variable rate	1.00%
Subsequent Event [Member] \| Term Loan [Member]
Subsequent Event [Line Items]
Term Loan	$ 180,000,000.0
Term loan	180,000,000.0
Subsequent Event [Member] \| Revolving Credit Facility [Member]
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	40,000,000.0
Line of credit facility, maximum borrowing capacity	$ 40,000,000.0
Subsequent Event [Member] \| General Atlantic [Member]
Subsequent Event [Line Items]
Existing Equity Interests Acquired		21,540,982
Subsequent Event [Member] \| Class A Common Stock [Member]
Subsequent Event [Line Items]
Common Stock, Shares Authorized		600,000,000
Common Stock, Par Value		$ 0.00001
Shares Issued, Price Per Share	$ 17.00
Proceeds from Issuance of Common Stock	$ 155,400,000
Common Stock, Shares, Outstanding	31,370,186
Common stock, shares authorized		600,000,000
Common stock, par or stated value per share		$ 0.00001
Proceeds from issuance of common stock	$ 155,400,000
Common stock, shares, outstanding	31,370,186
Subsequent Event [Member] \| Class A Common Stock [Member] \| Selling Stockholders [Member]
Subsequent Event [Line Items]
Common Stock, Shares, Issued	2,360,796
Proceeds from Issuance of Common Stock	$ 0
Common stock, shares, issued	2,360,796
Proceeds from issuance of common stock	$ 0
Subsequent Event [Member] \| Class A Common Stock [Member] \| Underwriter [Member]
Subsequent Event [Line Items]
Common Stock, Shares, Issued	1,590,000
Common stock, shares, issued	1,590,000
Subsequent Event [Member] \| Class A Common Stock [Member] \| IPO [Member]
Subsequent Event [Line Items]
Common Stock, Shares, Issued	9,829,204
Common stock, shares, issued	9,829,204
Subsequent Event [Member] \| Class B Common Stock [Member]
Subsequent Event [Line Items]
Common Stock, Shares Authorized		60,000,000
Common Stock, Par Value		$ 0.00001
Common Stock, Shares, Issued		36,740,956
Common Stock, Shares, Outstanding	32,372,542
Common stock, shares authorized		60,000,000
Common stock, par or stated value per share		$ 0.00001
Common stock, shares, issued		36,740,956
Common stock, shares, outstanding	32,372,542
Subsequent Event [Member] \| E W C Venture Units [Member]
Subsequent Event [Line Items]
Payment In Exchange For Units	$ 104,900,000
Venture Units Purchased	6,637,258
Payment in exchange for units	$ 104,900,000
Venture units purchased	6,637,258
Subsequent Event [Member] \| E W C Venture Units [Member] \| E W C Ventures Post I P Os And Employees [Member]
Subsequent Event [Line Items]
Venture Units Purchased	3,191,946
Venture units purchased	3,191,946
Subsequent Event [Member] \| E W C Venture Units [Member] \| Class C Deferred Payment Obligations [Member] \| E W C Ventures Post I P Os And Employees [Member]
Subsequent Event [Line Items]
Payment In Exchange For Units	$ 20,000,000.0
Venture Units Purchased	1,176,468
Payment in exchange for units	$ 20,000,000.0
Venture units purchased	1,176,468
E W C Ventures L L C And Subsidiaries [Member] \| Subsequent Event [Member] \| E W C Venture Units [Member] \| E W C Ventures Post I P Os And Employees [Member]
Subsequent Event [Line Items]
Payment In Exchange For Units	$ 50,500,000
Payment in exchange for units	50,500,000
EWC Ventures, LLC and Subsidiaries [Member]
Subsequent Event [Line Items]
Distributions					$ (1,805,000)
Term Loan			$ 239,338,000			$ 239,338,000			$ 240,552,000
Debt Instrument, Basis Spread on Variable Rate			5.50%
Net of Issuance Costs				$ 91,000
Term loan			$ 239,338,000			239,338,000			$ 240,552,000
Debt Instrument, basis spread on variable rate			5.50%
Payments of stock issuance costs				$ 91,000
EWC Ventures, LLC and Subsidiaries [Member] \| Revolving Credit Facility [Member]
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 30,000,000			$ 30,000,000
Debt Instrument, Basis Spread on Variable Rate						3.50%
Line of credit facility, maximum borrowing capacity			$ 30,000,000			$ 30,000,000
Debt Instrument, basis spread on variable rate						3.50%
EWC Ventures, LLC and Subsidiaries [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Distributions		$ 6,500,000
Payment of cash distribution		5,800,000
Receivables due from related parties		$ 700,000
Preferred Stock, Shares Authorized		100,000,000
Term Loan							$ 180,000,000.0
Repayments of Long-term Lines of Credit	268,700,000
Net of Issuance Costs	$ 10,100,000
Common Stock, Shares, Outstanding	63,742,728
Preferred stock, shares authorized		100,000,000
Term loan							$ 180,000,000.0
Repayments of long-term lines of credit	$ 268,700,000
Payments of stock issuance costs	10,100,000
Refinancing fees and expenses	$ 6,900,000
Common stock, shares, outstanding	63,742,728
EWC Ventures, LLC and Subsidiaries [Member] \| Subsequent Event [Member] \| Omnibus Incentive Plan Two Thousand And Twenty One [Member]
Subsequent Event [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	6,374,273
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	322,997
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price	$ 17.00
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	33.33%
Outstanding Performance-Vesting Class B Units on Achievement of Two Times MOIC	827,348
Outstanding Performance-Vesting Class B Units on Achievement of Three Times MOIC	838,663
Share-based compensation arrangement by share-based payment award, number of shares authorized	6,374,273
Stock granted during period, shares, restricted stock units	476,888
Share-based compensation arrangement by share-based payment award, options, grants in period, gross	322,997
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, exercise price	$ 17.00
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage	33.33%
Outstanding performance-vesting class B units on achievement of two times MOIC	827,348
Outstanding performance-vesting class B units on achievement of three times MOIC	838,663
EWC Ventures, LLC and Subsidiaries [Member] \| Subsequent Event [Member] \| Minimum [Member]
Subsequent Event [Line Items]
Line of Credit Facility, Commitment Fee Percentage	0.30%
Line of credit facility, commitment fee percentage	0.30%
EWC Ventures, LLC and Subsidiaries [Member] \| Subsequent Event [Member] \| Maximum [Member]
Subsequent Event [Line Items]
Line of Credit Facility, Commitment Fee Percentage	0.45%
Line of credit facility, commitment fee percentage	0.45%
EWC Ventures, LLC and Subsidiaries [Member] \| Subsequent Event [Member] \| Federal Fund Rate [Member]
Subsequent Event [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Debt Instrument, basis spread on variable rate	0.50%
EWC Ventures, LLC and Subsidiaries [Member] \| Subsequent Event [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Subsequent Event [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Debt Instrument, basis spread on variable rate	1.00%
EWC Ventures, LLC and Subsidiaries [Member] \| Subsequent Event [Member] \| Term Loan [Member]
Subsequent Event [Line Items]
Term Loan	$ 180,000,000.0
Term loan	180,000,000.0
EWC Ventures, LLC and Subsidiaries [Member] \| Subsequent Event [Member] \| Revolving Credit Facility [Member]
Subsequent Event [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	40,000,000.0
Line of credit facility, maximum borrowing capacity	$ 40,000,000.0
EWC Ventures, LLC and Subsidiaries [Member] \| Subsequent Event [Member] \| Class A Common Stock [Member]
Subsequent Event [Line Items]
Common Stock, Shares Authorized		600,000,000
Common Stock, Par Value		$ 0.00001
Shares Issued, Price Per Share	$ 17.00
Proceeds from Issuance of Common Stock	$ 155,400,000
Common Stock, Shares, Outstanding	31,370,186
Common stock, shares authorized		600,000,000
Common stock, par or stated value per share		$ 0.00001
Proceeds from issuance of common stock	$ 155,400,000
Common stock, shares, outstanding	31,370,186
EWC Ventures, LLC and Subsidiaries [Member] \| Subsequent Event [Member] \| Class A Common Stock [Member] \| Selling Stockholders [Member]
Subsequent Event [Line Items]
Common Stock, Shares, Issued	2,360,796
Proceeds from Issuance of Common Stock	$ 0
Common stock, shares, issued	2,360,796
Proceeds from issuance of common stock	$ 0
EWC Ventures, LLC and Subsidiaries [Member] \| Subsequent Event [Member] \| Class A Common Stock [Member] \| Underwriter [Member]
Subsequent Event [Line Items]
Common Stock, Shares, Issued	1,590,000
Common stock, shares, issued	1,590,000
EWC Ventures, LLC and Subsidiaries [Member] \| Subsequent Event [Member] \| Class A Common Stock [Member] \| IPO [Member]
Subsequent Event [Line Items]
Common Stock, Shares, Issued	9,829,204
Common stock, shares, issued	9,829,204
EWC Ventures, LLC and Subsidiaries [Member] \| Subsequent Event [Member] \| Class A Common Stock [Member] \| General Atlantic [Member]
Subsequent Event [Line Items]
Existing Equity Interests Acquired		21,540,982
EWC Ventures, LLC and Subsidiaries [Member] \| Subsequent Event [Member] \| Class B Common Stock [Member]
Subsequent Event [Line Items]
Common Stock, Shares Authorized		60,000,000
Common Stock, Par Value		$ 0.00001
Common Stock, Shares, Outstanding	32,372,542
Common stock, shares authorized		60,000,000
Common stock, par or stated value per share		$ 0.00001
Common stock, shares, issued	36,740,956
Common stock, shares, outstanding	32,372,542
EWC Ventures, LLC and Subsidiaries [Member] \| Subsequent Event [Member] \| E W C Venture Units [Member]
Subsequent Event [Line Items]
Payment In Exchange For Units	$ 104,900,000
Venture Units Purchased	6,637,258
Payment in exchange for units	$ 104,900,000
Venture units purchased	6,637,258
EWC Ventures, LLC and Subsidiaries [Member] \| Subsequent Event [Member] \| E W C Venture Units [Member] \| E W C Ventures Post I P Os And Employees [Member]
Subsequent Event [Line Items]
Payment In Exchange For Units	$ 50,500,000
Venture Units Purchased	3,191,946
Payment in exchange for units	$ 50,500,000
Venture units purchased	3,191,946
EWC Ventures, LLC and Subsidiaries [Member] \| Subsequent Event [Member] \| E W C Venture Units [Member] \| Class C Deferred Payment Obligations [Member] \| E W C Ventures Post I P Os And Employees [Member]
Subsequent Event [Line Items]
Payment In Exchange For Units	$ 20,000,000.0
Venture Units Purchased	1,176,468
Payment in exchange for units	$ 20,000,000.0
Venture units purchased	1,176,468