Heyday Franchise Cost, Revenue & Review 2026
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]. SBA 7(a) loans show a 0.0% charge-off rate across 12 loans[1]. FranchiseVerdict grade: A (Strongest tier), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2023 FDD issuance
Overview
- Investment
- $966K – $1.2M
- 60th pct Personal Care…
- Avg gross sales
- $2.1M
- Incl. company outlets29th pct Personal Care…
- Royalty
- 7.0%
- 39th pct Personal Care…
- Units
- 18
- 24th pct Personal Care…
- SBA charge-off
- 0.0%
- % of SBA 7(a) loans not repaid · median varies by category
Quick verdict · Personal Care & Beauty · color = vs category peers
Green = favorable by >10% vs Personal Care & Beauty avg · 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 A (Strongest tier), verdict score 73/100 (higher is better). SBA loan charge-off rate of 0.0% across 12 loans (well below the franchise average, based on all SBA 7(a) franchise lending, 2010–2025).
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Heyday Franchise, LLC
- Parent company
- Heyday Wellness LLC
- 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 109% 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%
- percentage · 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% of gross sales |
| 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 167% above the personal care & beauty norm.
Includes company-owned outlets
Source: FDD 2023 · Item 19
Single-unit · estimated
Returns at a glance
Indicative numbers using FDD Item 7 / Item 19 inputs and category-benchmarked cost ratios. Full single-unit, 25-unit portfolio, and LBO models (with every input editable to stress-test your own scenario) live on the financials page.
Store EBITDA · annual
$447K
21.0% margin
Unlevered ROIC
38%
EBITDA / total invested capital
Payback
31 mo
cash-on-cash, unlevered
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
FDD-reported earnings vs. model
The FDD reports $57K as EBITDA after Franchise-Related Fees ($). Our model estimates $447K SLEBITDA from the same revenue using category-average cost assumptions. These numbers differ because EBITDA after Franchise-Related Fees ($) deducts different expense categories than our model.
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. The target band for an attractive franchise is 30–60% ROIC. Below that and a passive index fund likely outperforms; above that and the franchisor has pricing power you're subsidizing.
Note: Item 19 revenue is what the franchisor discloses. It's the top line only. Operating costs below are category estimates. Override them to match your real 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?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
38%
Within the 30–60% "attractive franchise" band
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%.
Levered LBO scenario · Yale Crease Capital framing
What would 25 HEYDAY units return on equity?
Equity IRR · 5-yr
25.9%
3.16× MOIC
Year-1 DSCR
3.21×
EBITDA ÷ debt service
Equity required
$15.8M
on $29.8M purchase
Total debt
$13.9M
SBA $5.0M + senior + seller note
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
- 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
- ebitda and revenue
- Sample size
- 11
- vs category median 38 · small
- Range (low → high)
- $1.4M→$2.9M
- 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 179 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 average).
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 averages
How Heyday Compares
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
- 0.0%
- Company-owned
- 10
- Corporate units in the system
- % franchised
- 44%
- vs corporate-owned
3-year detail · Item 20
- Opened (3yr)
- 7
- Terminated (3yr)
- 0
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 0
- Reacquired (3yr)
- 0
- Franchisor bought back
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
- 0.0%
- rates vary by category · see methodology
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- 100.0%
- 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%
- brand beats franchise avg ↓
- 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.
Premium insight
SBA Lending Report
Deep-dive into Heyday's SBA lending history: lender network, geographic footprint, interest rates, and more.
SBA Lending Report
- Principal loss rate and NAICS industry benchmark
- 5 lenders with concentration factor
- Per-state charge-off rates across 7 states
- Startup risk premium and job creation velocity
- 3-year lending trend
Instant access. No subscription.
With a 0.0% charge-off rate across 12 loans, banks have historically viewed this brand favorably for lending.
What could kill this investment?
SBA loans charge off at 0.0% — 100% below the 16.0% national norm, i.e. lower lender-observed risk.
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Heyday presents elevated risk due to going concern status, extreme growth claims that lack credibility at 18-unit scale, razor-thin profitability margins, and absence of audited financial disclosures.
Litigation (Item 3)
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)
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 73 / 100 verdict
- 01HIGHGoing Concern warning indicates franchisor financial instability despite claimed growth
- 02MINORExtreme unit growth of 700% YoY is unsustainable and suggests either aggressive expansion or data anomaly (18 units total is suspicious baseline)
- 03MINORNet 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 |
| 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. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
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?
Based on SBA 7(a) loan data, HEYDAY has a charge-off rate of 0.0% across 12 loans, meaning 0.0% of franchise loans were charged off. Charge-off rates are one proxy for franchise risk, though they do not capture all closures. This data comes from FOIA-sourced SBA lending records.
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 A-grade franchise with a verdict score of 73 out of 100 (higher is better), based on our analysis of investment costs, revenue data, SBA loan performance, and growth trends. 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
Are you the franchisor?
If you represent HEYDAY, you can request corrections or provide updated information.
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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.