Spavia Franchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Spavia is a day spa franchise offering massage, facials, and body treatments in an upscale, membership-driven format. Franchisees run the spas, managing licensed therapists, scheduling, and retail.
FranchiseVerdict summary · 2026
A Spavia franchise requires a total initial investment of $496K – $796K, including a $60K franchise fee and an ongoing 6.0% royalty[2]. Per the 2024 FDD, average unit revenue was $1.0M[2]. SBA 7(a) loans show a 8.0% charge-off rate across 46 loans[1]. FranchiseVerdict grade: A (Strongest tier), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2024 FDD issuance
Overview
- Investment
- $496K – $796K
- 49th pct Personal Care…
- Avg gross sales
- $1.0M
- 24th pct Personal Care…
- Royalty
- 6.0%
- 10th pct Personal Care…
- Units
- 55
- 35th pct Personal Care…
- SBA charge-off
- 8.0%
- % 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 $496K – $796K including a $60K franchise fee, 6.0% ongoing royalty.
- RETURNSAverage unit revenue of $1.0M/year (median $969K).
- RISKVerdict A (Strongest tier), verdict score 85/100 (higher is better). SBA loan charge-off rate of 8.0% across 46 loans (near or below the 16% 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
- Spavia International, LLC
- CEO title
- Chief Executive Officer and Manager
- Marty Langenderfer
- Incorporated in
- Colorado
- HQ
- 6312 S. Fiddlers Green Circle, Suite #140E, Greenwood Village, CO 80111
- Auditor
- Kezos & Dunlavy
- Audited financials
- Franchisor revenue
- $3.2M
- vs $3.7M prior year
Overview
About
- CEO
- Marty Langenderfer
- Headquarters
- CO
- Founded
- 2007
- FDD year
- 2024
- States available
- 23
Can you afford it, and what does the money buy?
Entry cost runs 23% above the typical personal care & beauty franchise.
Source: FDD 2024 · Items 5–7
FDD Item 7 · 2024 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $60K | $60K |
| Working capital (3–6 mo) | $25K | $50K |
| Equipment, build-out, other | $412K | $686K |
| Total initial investment | $496K | $796K |
Source: Spavia 2024 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
- $496K – $796K
- Middle of category vs category
- Liquid capital req'd
- $25K – $50K
- Top 40% of category vs category
- Franchise fee
- $60K – $60K
- Middle of category vs category
- Royalty
- 6.0%
- Gross Sales · typical 6–8%
- Ad fund
- 1.0%
- typical 3–5%
- Total fee load
- 7.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 6.0% of gross sales |
| Marketing / ad fund | 1.0% of gross sales |
| Technology fee | $650 |
| Transfer fee | $15K |
| Renewal fee | $10K |
| Total fee load | 7.0% of rev |
What do units actually make?
Average unit sales run 26% above the personal care & beauty norm.
Source: FDD 2024 · 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
$232K
23.0% margin
Unlevered ROIC
34%
EBITDA / total invested capital
Payback
35 mo
cash-on-cash, unlevered
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
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 Spavia unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
34%
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 Spavia units return on equity?
Equity IRR · 5-yr
32.8%
4.13× MOIC
Year-1 DSCR
2.47×
EBITDA ÷ debt service
Equity required
$6.3M
on $16.1M purchase
Total debt
$9.8M
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: 2024 FDD
Financial Performance
- Avg gross sales
- $1.0M
- Per unit, per year
- Median gross sales
- $969K
Gross sales are revenue before expenses — not profit. Actual owner earnings depend on rent, labor, royalties, marketing fees, and debt service.
- Item 19 type
- gross sales
- Sample size
- 53 outlets
- vs category median 38
- Range (low → high)
- $465K→$1.8M
- Cohort dispersion (min → max)
- Reporting year
- 2023
- Fiscal year the figures cover
- Source filing
- FDD 2024
- Disclosed in the 2024 filing, covering 2023
- 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 $1.0M/year in gross sales. Revenue-to-investment ratio: 1.6x.
Fee burden
Total ongoing fee load of 7.0% (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.
Operator retention
System expanding at 10.0% CAGR over 3 years across 55 units — operators are staying and new ones are joining.
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 Spavia Compares
Is the system healthy?
Source: FDD 2024 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 55
- Opened
- 4
- Last reporting year
- Closed
- 0
- Turnover rate
- 0.0%
- Company-owned
- 0
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
- Net growth (3-yr)
- +10.0%
- Net unit change over 3 years
- 3-yr CAGR
- +10.0%
- Compounded over last 3 years
3-year detail · Item 20
- Opened (3yr)
- 2
- Closed (3yr)
- 0
- Terminated (3yr)
- 0
- Non-renewed (3yr)
- 0
- Transfers (3yr)
- 3
- Reacquired (3yr)
- 0
- Franchisor bought back
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 13 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator. Not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 46
- Loan volume
- $20.2M
- Median loan
- $397K
- 50th percentile
- Charge-off rate
- 8.0%
- 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)
- 92.0%
- 5-yr charge-off
- 0.0%
- Loans approved 2021+
- Active lenders
- 20
- Defaults
- 2
- Typical loan rate
- 7.3%
- avg rate to borrowers
- Franchised industry avg
- 17.4%
- brand beats franchise avg ↓
- Jobs supported
- 979
- 4.8 per loan
- Lender concentration
- 26%
- top lender's share
Borrower mix: 71% went to startups / new businesses, 29% to established operators
Franchise vs independent — in other personal care services, franchised businesses charge off at 17.4% vs 20.9% for independents — franchising is associated with 17% lower SBA default risk in this category.
Vintage analysis
Spavia charge-off rate by loan vintage
Top lenders financing Spavia franchisees
Showing 3 of 20 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 Spavia's SBA lending history: lender network, geographic footprint, interest rates, and more.
SBA Lending Report
- Principal loss rate and NAICS industry benchmark
- 10 lenders with concentration factor
- Per-state charge-off rates across 15 states
- Startup risk premium and job creation velocity
- 11-year lending trend
Instant access. No subscription.
What could kill this investment?
SBA loans charge off at 8.0% — 50% 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
Day-spa franchisor (55 units) with thin net worth of $28,671 flagged as financial distress, though net income is strongly positive ($1.04M on $3.71M revenue). No litigation, bankruptcy, or going-concern doubt; audited with Item 19. Growth positive at +10%.
Audited financials (Item 21)
Yes · Kezos & Dunlavy
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Score breakdown · what drove the 85 / 100 verdict
- 01MINORfinancial_distress=true, thin net worth $28,671
- 02MINORnet income positive $1,036,798
- 03MINORno litigation or bankruptcy
- 04MEDaudited, Item 19 disclosed, net_growth +10%
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 7.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2024 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 10 years |
| Allowed renewalsℹ | 2 |
| Territory type | Radius |
| Protected territory | Yes |
| Online sales rights | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Right of first refusalℹ | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | No |
| Jury trial waiver | Yes |
| Governing law | Colorado |
| Litigation count | 0 |
Items 10, 11
Training & Operations
- Classroom training
- 26 hrs
- On-the-job training
- 21 hrs
Items 5 & 11
Franchisor Support
Item 20 · call current owners
Franchisee Contacts
62 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Spavia · FDD (2024) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Spavia franchise?
The total investment to open a Spavia franchise ranges from $496K – $796K, 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 Spavia franchise owners earn?
According to Item 19 of the Spavia FDD, the average gross sales per unit is $1.0M. The median is $969K. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is Item 19 in the Spavia 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 Spavia FDD and qualifies whose outlets they describe.
What is Spavia's franchise failure rate?
Based on SBA 7(a) loan data, Spavia has a charge-off rate of 8.0% across 46 loans, meaning 8.0% 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 Spavia franchise locations are there?
As of their most recent FDD filing, Spavia has 55 total units in the United States, including 55 franchised units and 0 company-owned units. 4 new units were opened in the latest reporting year.
Is Spavia a good franchise to buy?
FranchiseVerdict rates Spavia as a A-grade franchise with a verdict score of 85 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
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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.