Heyday Franchise Cost, Revenue & Review 2026
- Investment
- $966K – $1.2M
- Disclosed sales
- $2.1M
- gross sales, not profit
- SBA charge-off
- Limited · 12 loans
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Heyday is a skincare franchise offering expert facials, custom skincare, and treatments from licensed estheticians. Franchisees run the studios, managing estheticians, appointments, memberships, and retail.
FranchiseVerdict summary · 2026
A HEYDAY franchise requires a total initial investment of $966K – $1.2M, including a $60K franchise fee and an ongoing 7.0% royalty[2]. Per the 2023 FDD, average unit revenue was $2.1M[2]. FranchiseVerdict grade: B (Above average), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: 2023 filing · Data extracted: · Last cited check: · Staleness risk: high - figures are from a filing two or more years old
Evidence: strong✓ Investment (Item 7)✓ Item 19 status✓ Units and owners (Item 20)✓ SBA loan coverage✓ Litigation (Item 3)✓ Financial statements (Item 21)✓ Franchisor identityhow this is scored8 of 8 headline figures on this page cite a page of the filing.
Overview
- Investment
- $966K – $1.2M
- 60th pct Personal Care…
- Avg gross sales
- $2.1M
- Incl. company outletsNet sales31st pct Personal Care…
- Royalty
- 7.0%
- 45th pct Personal Care…
- Units
- 18
- 24th pct Personal Care…
- SBA charge-off
- N/A
Quick verdict · Personal Care & Beauty · color = vs category peers
Green = favorable by >10% vs Personal Care & Beauty median · No shading = within ±10% · Red = unfavorable by >10% · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Bottom line
- COSTTotal investment $966K – $1.2M including a $60K franchise fee, 7.0% ongoing royalty.
- RETURNSAverage unit revenue of $2.1M/year (median $2.3M) (includes company-owned outlets), with an estimated 3% cash-on-cash return (based on EBITDA after Franchise-Related Fees ($)).
- RISKVerdict B (Above average), verdict score 56/100 (higher is better).
- GROWTHPositive: net +7 franchised outlets in the latest year (7 opened, 0 closed); 11 signed but not yet open (Item 20).
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Heyday Franchise, LLC
- Parent company
- Heyday Wellness LLC
- FDD Item 1, page 9 of the 2023 FDD
- CEO title
- Chief Executive Officer
- Andy Taylor
- Incorporated in
- DE
- HQ
- 251 Little Falls Drive, Wilmington, Delaware 19808
- Auditor
- Citrin Cooperman & Company, LLP
- Audited financials
- Franchisor revenue
- $737K
- vs $8K prior year
Independent franchisee associations
- Franchise Advisory Council (FAC)
Franchisee-led councils or alliances disclosed in Item 20. Indicates operator voice.
Overview
About
- CEO
- Andy Taylor
- Headquarters
- DE
- Founded
- 2020
- FDD year
- 2023
- States available
- 7
Can you afford it, and what does the money buy?
Entry cost runs 173% above the typical personal care & beauty franchise.
Source: FDD 2023 · Items 5–7
FDD Item 7 · 2023 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $60K | $60K |
| Working capital (3–6 mo) | $50K | $79K |
| Equipment, build-out, other | $856K | $1.1M |
| Total initial investment | $966K | $1.2M |
Source: HEYDAY 2023 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $966K – $1.2M
- Middle of category vs category
- Liquid capital req'd
- $50K – $79K
- Middle of category vs category
- Franchise fee
- $60K – $60K
- Middle of category vs category
- Royalty
- 7.0%
- typical 6–8%
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 9.0%
- vs 9–13% typical
- Payback period
- 35.2 yrs
- From FDD / Item 19
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 7.0% of gross sales |
| Marketing / ad fund | 2.0% |
| Technology fee | $800 |
| Training fee | $3K |
| Transfer fee | $5K |
| Renewal fee | $5K |
| Inventory (initial) | $46K – $53K |
| Total fee load | 9.0% of rev |
What do units actually make?
Average unit sales run 304% above the personal care & beauty norm.
Includes company-owned outlets
Reported as net sales, not gross sales
Source: FDD 2023 · Item 19
Single-unit · not modelled
Returns at a glance
An FDD discloses gross sales, not profit, and the operating costs that turn one into the other are in no filing. We publish no modelled return for HEYDAY until someone supplies them — yours, in the models below.
—
Not modelled yet
An FDD discloses gross sales, not profit. We hold no sourced figure for COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
Total invested capital · disclosed
$1.2M
Item 7 initial investment plus working capital, as filed — the one figure here that needs no assumption.
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
FDD-reported earnings
The FDD reports $57K as EBITDA after Franchise-Related Fees ($). This is a disclosed figure, not our estimate — we publish no modelled profit for HEYDAY.
What one unit earns on your invested capital
Model A · Single-Unit Return
Computes unlevered return on invested capital (ROIC) for a single franchise unit, read against the 30–60% reference band · Yale SOM, Post-MBA Path Exhibit 2 (2023). Below that band a passive index fund likely outperforms; above it the franchisor has pricing power you're subsidizing.
Note: Item 19 revenue is what the franchisor discloses, and it is the top line only — gross sales are not profit. No FDD discloses the operating costs that turn one into the other, so those fields start empty and nothing is modelled until you supply them from your own lease quote, labor market and build-out budget.
Returns model · single-unit ROIC
What would one HEYDAY unit return on the cash you put in?
Illustrative category typicals — not sourced to any filing, survey or sample. Replace them with figures from franchisee validation calls before you rely on the output.
Unlevered ROIC · per unit
Your modelled return on total invested capital, before any debt financing.
—
An FDD discloses gross sales, not profit. We hold no sourced figure for COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
What 25 units return when you use SBA financing
Model B · Return on Equity: Debt-Financed Acquisition
Models a 25-unit portfolio acquisition financed with an SBA 7(a) loan. Shows equity IRR (your return on cash invested), DSCR (how safely the cash flow covers debt service), and the capital stack (SBA + seller + equity breakdown).
This is the “search fund” or “entrepreneurship through acquisition” scenario: you buy an existing multi-unit operator, use leverage to amplify returns, and either operate or hire management. The 25-unit size is the typical minimum for an SBA-backed franchise portfolio acquisition to pencil as a full-time income.
What “return on equity” means here: if you put in $500K of your own cash and the business generates enough EBITDA to pay down debt and grow, your equity IRR is the annual return on that $500K, including the value created when you eventually sell. Target IRR for a search fund is typically 25–35%.
Not modelled yet
An FDD discloses gross sales, not profit. We hold no sourced figure for COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
A 25-unit return is built on a per-unit EBITDA. Fill in the operating costs in Model A above and this model runs on that figure, or take the whole scenario to the full ROI workbench, where the portfolio and LBO models accept your own per-unit economics directly.
These models are for research and scenario planning only. Not investment advice. Actual results depend on your specific location, management, and market conditions. Consult a franchise attorney and accountant before signing any franchise agreement.
Item 19 · Source: 2023 FDD
Financial Performance
Includes company-owned outlets
Reported as net sales, not gross sales
- Avg gross sales
- $2.1M
- Per unit, per year
- Median gross sales
- $2.3M
- Avg ebitda after franchise-related fees ($)
- $57K
- Reported as EBITDA after Franchise-Related Fees ($) in FDD Item 19
- Cash-on-cash
- 2.8%
- Based on EBITDA after Franchise-Related Fees ($) / investment midpoint
Gross sales are revenue before expenses — not profit. Actual owner earnings depend on rent, labor, royalties, marketing fees, and debt service.
- Item 19 type
- net sales
- Sample size
- 11 outlets
- vs category median 38 · small
- Range (low → high)
- $1.4M→$2.9MCited, not corroborated — printed on page 79 of the 2023 FDD. Nothing else in our record independently restates or re-derives it.
- Cohort dispersion (min → max)
- Reporting year
- 2022
- Fiscal year the figures cover
- Source filing
- FDD 2023
- Disclosed in the 2023 filing, covering 2022
- Transparency
- 9 / 10
- vs category median 4 / 10 · above
Compared against 177 Personal Care & Beauty brands
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Unit economics
Average unit generates $2.1M/year in gross sales. Median ($2.3M) exceeds the average — distribution is bottom-heavy but most units perform well. Revenue-to-investment ratio: 1.9x. Includes company-owned outlets.
Fee burden
Total ongoing fee load of 9.0% (near the Personal Care & Beauty median).
Disclosure
Transparency score 9/10 — this franchisor discloses detailed breakdowns (quartiles, segments, or cohort data). Buyers can model unit economics with higher confidence.
Source: FDD Item 19 financial performance representations and publicly filed FDD data. Past performance is not indicative of future results. Verify all figures with the franchisor and current franchisees before making any investment decision.
vs Personal Care & Beauty medians
How Heyday Compares
Category median of published Personal Care & Beauty brands that report the figure; the middle half spans the 25th to 75th percentile and n counts the brands behind it. Medians are used because a few very large systems pull an average far from the typical brand. Revenue is disclosed gross sales, not profit.
Is the system healthy?
Source: FDD 2023 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 18
- Opened
- 7
- Last reporting year
- Closed
- 0
- Turnover rate
- N/A
- Company-owned
- 10
- Corporate units in the system
- % franchised
- 44%
- vs corporate-owned
Last fiscal year · Item 20 exits and transfers
- Signed, not yet open
- 11
- 0.61 per open outlet · Item 20 Table 5
- Projected new
- 15
- Franchisor's next-year forecast
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 12 · 7 states reported
The Territory Map
FDD Item 12 reports the state count, but the specific list isn't in our current data. The map will appear once we re-extract from the FDD or enough franchisee contacts are available.
7
states with franchisees (per FDD Item 12)
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 12
- Loan volume
- $12.5M
- Median loan
- $953K
- 50th percentile
- Charge-off rate
- Limited · 12 loans
- Limited SBA coverage: 12 loans, rate hidden until 10 have resolved and loans reach 2% of franchised units
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- Limited · 12 loans
- 5-yr charge-off
- 0.0%
- Loans approved 2021+
- Active lenders
- 6
- Defaults
- 0
- Typical loan rate
- 9.4%
- avg rate to borrowers
- Franchised industry avg
- 12.1%
- n=2,577 loans
- Jobs supported
- 260
- 3.3 per loan
- Lender concentration
- 25%
- top lender's share
Borrower mix: 100% went to startups / new businesses, 0% to established operators
Franchise vs independent — in beauty salons, franchised businesses charge off at 12.1% vs 18.6% for independents — franchising is associated with 35% lower SBA default risk in this category.
Top lenders financing Heyday franchisees
Showing 3 of 6 lenders. The full breakdown — every lender, state distribution, interest rates & risk ratings — is in the SBA Lending Report below.
Explore lender portfolios on Bank Reports or regional data on State Reports.
Lender network · 7(a) + 504
SBA Lending Report
Full lending analysis for Heyday from SBA 7(a) FOIA data.
- Principal loss rate
- 0.0%
- Avg SBA guarantee
- 75%
- Avg interest rate
- 9.45%
- Lender concentration
- 25.0%
- Job velocity
- 3.3 per $100K
- NAICS benchmark
- 10.9%
- NAICS 812112
- Jobs supported
- 260
Top SBA lendersTop lender holds 25% of loans
| # | Lender | Loans | Volume | Default % |
|---|---|---|---|---|
| 1 | FWBank | 2 | $1.9M | 0.0% |
| 2 | First Bank of the Lake | 2 | $1.9M | N/A |
| 3 | LendingClub Bank, National Association | 2 | $2.2M | 0.0% |
| 4 | Citizens Bank | 1 | $942K | 0.0% |
| 5 | Meridian Bank | 1 | $865K | N/A |
Geographic failure vector
| State | Loans | Defaults | Rate |
|---|---|---|---|
| TXTexas | 2 | 0 | -- |
| AZArizona | 1 | 0 | -- |
| GAGeorgia | 1 | 0 | 0.0% |
| ILIllinois | 1 | 0 | 0.0% |
| MIMichigan | 1 | 0 | 0.0% |
| MNMinnesota | 1 | 0 | -- |
| NJNew Jersey | 1 | 0 | -- |
SBA 7(a) lending trend
Borrower profile
Source: SBA 7(a) + 504 FOIA loan-level data, matched by FranchiseVerdict
What could kill this investment?
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
No litigation disclosed in Item 3
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Citrin Cooperman & Company, LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
FY2022 covers the period Dec 29, 2021 through Dec 31, 2022 (first full year of operations); FY2021 is the fifty-two weeks ended Dec 28, 2021. Total revenues comprise franchise fees, royalties, brand fund fees, and technology fees. Franchisor is a Delaware LLC; statements report member's equity (deficit).
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: No
Score breakdown · what drove the 56 / 100 verdict
- 01MINORExtreme unit growth of 700% YoY is unsustainable and suggests either aggressive expansion or data anomaly (18 units total is suspicious baseline)
- 02MINORNet income of only $56,775 on $2.1M revenue (2.7% margin) leaves minimal buffer for 7% royalties, rent, labor, and operating costs
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 9.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2023 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 4 |
| Territory type | Protected territory |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 10 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Curable defaultsℹ | 3 |
| Mandatory arbitration | Yes |
| Arbitration location | Delaware (within 10 miles of franchisor's principal business address) |
| Jury trial waiver | Yes |
| Governing law | DE |
| Litigation count | 0 |
View Item 3 litigation summary
No litigation disclosed in Item 3
Items 10, 11
Training & Operations
- Classroom training
- 62 hrs
- On-the-job training
- 84 hrs
- Training location
- Online and Corporate Shop (New York, NY or Los Angeles, CA), plus pre-opening on-site at franchisee's Shop
- Ongoing training
- Required
- Site selection
- franchisee
- POS system
- Boulevard
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: Boulevard
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a HEYDAY franchise?
The total investment to open a HEYDAY franchise ranges from $966K – $1.2M, with an initial franchise fee of $60K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do HEYDAY franchise owners earn?
According to Item 19 of the HEYDAY FDD, the average gross sales per unit is $2.1M. The median is $2.3M. Important context: Includes company-owned outlets; Reported as net sales, not gross sales. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
Who owns HEYDAY?
HEYDAY is franchised by Heyday Franchise, LLC. Its parent company is Heyday Wellness LLC. Source: FDD Item 1, 2023 filing.
What is Item 19 in the HEYDAY FDD?
The FDD section where a franchisor may disclose financial performance of its outlets. Disclosure is optional and formats vary; figures are typically gross sales, which is revenue before expenses, not profit. FranchiseVerdict extracts these figures directly from the HEYDAY FDD and qualifies whose outlets they describe.
What is HEYDAY's franchise failure rate?
SBA 7(a) loan charge-off data is not available for HEYDAY (fewer than 10 loans on file). Charge-off rates are one way to gauge franchise risk, but not all franchise loans go through the SBA program. We recommend reviewing turnover and closure data in the FDD and speaking with current franchisees.
How many HEYDAY franchise locations are there?
As of their most recent FDD filing, HEYDAY has 18 total units in the United States, including 8 franchised units and 10 company-owned units. 7 new units were opened in the latest reporting year.
Is HEYDAY a good franchise to buy?
FranchiseVerdict rates HEYDAY as a B-grade franchise with a verdict score of 56 out of 100 (higher is better). The grade is a deterministic score built from six weighted dimensions — financial health, unit economics, unit growth, scale, legal, and transparency — then calibrated against SBA loan charge-off rates and FDD age. Transparency is one of the six, so a filing that discloses less scores lower on that dimension than one that discloses more. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
For franchisors
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.