Woodhouse Spa Franchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Woodhouse Spa is an upscale day-spa franchise offering massages, facials, body treatments, and wellness services. Franchisees run a full-service spa managing therapists and estheticians, bookings, and retail.
FranchiseVerdict summary · 2026
A Woodhouse Spa franchise requires a total initial investment of $1.3M – $2.0M, including a $60K franchise fee and an ongoing 6.0% royalty[2]. Per the 2026 FDD, average unit revenue was $2.7M[2]. SBA 7(a) loans show a 0.0% charge-off rate across 59 loans[1]. FranchiseVerdict grade: A (Strongest tier), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2026 FDD issuance
Overview
- Investment
- $1.3M – $2.0M
- 62nd pct Personal Care…
- Avg gross sales
- $2.7M
- 29th pct Personal Care…
- Royalty
- 6.0%
- 10th pct Personal Care…
- Units
- 93
- 41st 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 $1.3M – $2.0M including a $60K franchise fee, 6.0% ongoing royalty.
- RETURNSAverage unit revenue of $2.7M/year (median $2.6M).
- RISKVerdict A (Strongest tier), verdict score 65/100 (higher is better). SBA loan charge-off rate of 0.0% across 59 loans (well below the franchise average, based on all SBA 7(a) franchise lending, 2010–2025).
- GROWTHSystem growing at 15.1% CAGR over 3 years with 93 total units. Strong expansion trajectory.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- The Woodhouse SPAS, LLC
- Parent company
- Woodhouse Gathering, LLC
- Ultimate parent
- TSG9 L.P.
- Predecessor
- The Woodhouse SPAS Corporation
- Prior franchisor entity
- CEO title
- Chief Executive Officer
- Ben Jones
- Incorporated in
- Texas
- HQ
- 300 Union Boulevard, Suite 600, Lakewood, Colorado 80228
- Auditor
- Plante & Moran, PLLC
- Audited financials
- Franchisor revenue
- $93.7M
- vs $86.3M prior year
Affiliated brands
- Radiance Distribution
- SSS
- Sola Salon Studios California
Other brands the franchisor or its parent operates (Item 1).
Overview
About
- CEO
- Ben Jones
- Headquarters
- Colorado
- Founded
- 2003
- FDD year
- 2026
- States available
- 25
Can you afford it, and what does the money buy?
Entry cost runs 220% above the typical personal care & beauty franchise.
Source: FDD 2026 · Items 5–7
Full Item 7 breakdown21 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Fee | $60K | $60K | |
| Professional Services | $3K | $10K | |
| Site Evaluation Services | $2K | $4K | |
| Site Selection Assistance Fee | $0 | $4K | |
| Security Deposit and Rent | $29K | $105K | |
| Architectural Fees | $38K | $47K | |
| Leasehold Improvements (Gross) | $759K | $1.4M | |
| Fixtures, Furniture and Equipment | $319K | $575K | |
| Signage | $20K | $27K | |
| Initial Inventory | $44K | $51K | |
| Computer and IT Systems and Components | $59K | $76K | |
| Additional IT Related Services | $1K | $2K | |
| Business Licenses and Permits | $250 | $1K | |
| Initial Training Fee | $5K | $5K | |
| Training Expenses | $3K | $5K | |
| Insurance (For Initial 3-Month Period) | $16K | $32K | |
| Grand Opening | $5K | $5K | |
| New Location Launch Program | $10K | $10K | |
| Employment Screening and Investigation Services | $607 | $2K | |
| Additional Funds for the start-up phase (For Initial 3-Month Period) | $108K | $258K | |
| Total initial investment | $1.5M | $2.8M |
Line items extracted from FDD Item 7. Ranges reflect the franchisor's stated low and high per line. Total is the sum of line-item lows / highs — actual costs may fall outside this range depending on market and build-out scope.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $1.3M – $2.0M
- Middle of category vs category
- Liquid capital req'd
- $50K – $150K
- Middle of category vs category
- Franchise fee
- $60K – $60K
- Middle of category vs category
- Royalty
- 6.0%
- percentage · typical 6–8%
- Ad fund
- 1.8%
- typical 3–5%
- Total fee load
- 7.8%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 6.0% of gross sales |
| Marketing / ad fund | 1.8% of gross sales |
| Technology fee | $550 |
| Training fee | $5K |
| Transfer fee | $10K |
| Renewal fee | $13K |
| Inventory (initial) | $44K – $51K |
| Total fee load | 7.8% of rev |
What do units actually make?
Average unit sales run 240% above the personal care & beauty norm.
Source: FDD 2026 · 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
$603K
22.3% 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 Woodhouse Spa 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 Woodhouse Spa units return on equity?
Equity IRR · 5-yr
24.1%
2.94× MOIC
Year-1 DSCR
3.57×
EBITDA ÷ debt service
Equity required
$23.9M
on $41.3M purchase
Total debt
$17.4M
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: 2026 FDD
Financial Performance
- Avg gross sales
- $2.7M
- Per unit, per year
- Median gross sales
- $2.6M
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
- 81 outlets
- vs category median 38 · large
- Range (low → high)
- $816K→$6.8M
- Cohort dispersion (min → max)
- Quartile band
- $1.4M→$4.2M
- Bottom 25% → top 25%
- Transparency tier
- revenue_only
- Categorical assessment of disclosure depth
- Reporting year
- 2025
- Fiscal year the figures cover
- Source filing
- FDD 2026
- Disclosed in the 2026 filing, covering 2025
- Transparency
- 4 / 10
- vs category median 4 / 10 · typical
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 $2.7M/year in gross sales. Revenue-to-investment ratio: 1.6x.
Fee burden
Total ongoing fee load of 7.8% (near the Personal Care & Beauty average).
Disclosure
Transparency score 4/10 — this franchisor discloses detailed breakdowns (quartiles, segments, or cohort data). Buyers can model unit economics with higher confidence.
Operator retention
System expanding at 15.1% CAGR over 3 years across 93 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 Woodhouse Spa Compares
Is the system healthy?
Source: FDD 2026 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 93
- Opened
- 6
- Last reporting year
- Closed
- 1
- Turnover rate
- 2.4%
- Company-owned
- 4
- Corporate units in the system
- % franchised
- 96%
- vs corporate-owned
- Net growth (3-yr)
- +15.1%
- Net unit change over 3 years
- 3-yr CAGR
- +15.1%
- Compounded over last 3 years
3-year detail · Item 20
- Opened (3yr)
- 6
- Closed (3yr)
- 1
- Terminated (3yr)
- 0
- Non-renewed (3yr)
- 1
- Transfers (3yr)
- 4
- Reacquired (3yr)
- 0
- Franchisor bought back
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 14 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.
Available to sell in · Item 12
- Indiana
- Michigan
States where the franchisor is registered to sell new franchises (FDD registration filings).
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
- Total loans
- 59
- Loan volume
- $54.6M
- Median loan
- $789K
- 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)
- N/A
- 5-yr charge-off
- N/A
- Loans approved 2021+
- Active lenders
- 15
- Defaults
- N/A
Explore lender portfolios on Bank Reports or regional data on State Reports.
With a 0.0% charge-off rate across 59 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
Litigation (Item 3)
Two former litigation matters disclosed: a 2017 Texas suit by Woodhouse against a former employee and franchisees for trade secret theft/non-compete violations, settled with Woodhouse paying $125,000; and a 2019 Tennessee bankruptcy adversary proceeding over franchise agreement terminations, settled with Woodhouse paying $25,000 and other terms. No pending litigation.
Largest disclosed settlement: $125,000
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Plante & Moran, PLLC
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
ⓘ These are the parent company's consolidated financials (the parent guarantees the franchisor), not this brand's standalone results — the figure reflects the whole corporate group, not this brand alone.
Supplier relationship · Items 8 & 16
- Franchisor sells you products: No
- Must buy proprietary products: No
- Restricted to system-approved products: Yes
Score breakdown · what drove the 65 / 100 verdict
- 01MINORRobust net worth $27,919,591 and net income $9,276,892
- 02HIGHOnly former/settled litigation
- 03MINORHealthy growth 15.1%, low turnover 2.4%
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 7.8% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2026 · 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 | 1 |
| Territory type | protected |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 6 mi |
| Online sales rightsℹ | Granted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 6 mi |
| Right of first refusalℹ | Yes |
| RoFR response window | 30 days |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 4 |
| Curable defaultsℹ | 5 |
| Mandatory arbitration | No |
| Jury trial waiver | Yes |
| Governing law | Colorado |
| Litigation count | 2 |
View Item 3 litigation summary
Two former litigation matters disclosed: a 2017 Texas suit by Woodhouse against a former employee and franchisees for trade secret theft/non-compete violations, settled with Woodhouse paying $125,000; and a 2019 Tennessee bankruptcy adversary proceeding over franchise agreement terminations, settled with Woodhouse paying $25,000 and other terms. No pending litigation.
Items 10, 11
Training & Operations
- Classroom training
- 34 hrs
- On-the-job training
- 32 hrs
- Training location
- Virtual (Part One); Lakewood, Colorado, virtually, or at a designated Spa location (Part Two); On-site at franchisee's Spa (Part Three)
- Ongoing training
- Required
- Field support
- 32 hrs/yr
- On-site visits per year
- Time to open
- 14 mo
- From signing to launch
- Site selection
- franchisee_with_franchisor_approval
- Franchisor financing
- Not offered
- Item 10
Items 5 & 11
Franchisor Support
Item 20 · call current owners
Franchisee Contacts
77 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Woodhouse Spa · FDD (2026) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Woodhouse Spa franchise?
The total investment to open a Woodhouse Spa franchise ranges from $1.3M – $2.0M, 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 Woodhouse Spa franchise owners earn?
According to Item 19 of the Woodhouse Spa FDD, the average gross sales per unit is $2.7M. The median is $2.6M. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is Item 19 in the Woodhouse Spa 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 Woodhouse Spa FDD and qualifies whose outlets they describe.
What is Woodhouse Spa's franchise failure rate?
Based on SBA 7(a) loan data, Woodhouse Spa has a charge-off rate of 0.0% across 59 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 Woodhouse Spa franchise locations are there?
As of their most recent FDD filing, Woodhouse Spa has 93 total units in the United States, including 89 franchised units and 4 company-owned units. 6 new units were opened in the latest reporting year.
Is Woodhouse Spa a good franchise to buy?
FranchiseVerdict rates Woodhouse Spa as a A-grade franchise with a verdict score of 65 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 Woodhouse Spa, you can request corrections or provide updated information.
Other Personal Care & Beauty franchises
Compare similar franchise opportunities in the Personal Care & Beauty category
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.