Woodhouse Spa Franchise Cost, Revenue & Review 2026
- Investment
- $1.3M – $2.0M
- Disclosed sales
- $2.7M
- gross sales, not profit
- SBA charge-off
- Limited · 59 loans
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]. FranchiseVerdict grade: A (Strongest tier), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: low - issued within the last 12 months
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 scored7 of 8 headline figures on this page cite a page of the filing; the rest are marked “Not cited” beside the figure.
Overview
- Investment
- $1.3M – $2.0M
- 63rd pct Personal Care…
- Avg gross sales
- $2.7M
- 32nd pct Personal Care…
- Royalty
- 6.0%
- 12th pct Personal Care…
- Units
- 93
- 40th 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 $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 71/100 (higher is better).
- GROWTHPositive: net +5 franchised outlets in the latest year (6 opened, 1 closed) (Item 20).
- 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
- FDD Item 1, page 8 of the 2026 FDD
- Ultimate parent
- TSG9 L.P.
- FDD Item 1, page 8 of the 2026 FDD
- 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).
Same owner · FDD Item 1, page 8
1 other brand on this site name TSG9 L.P. as parent or ultimate parent in their own FDD.
Grouped by the owner's name as each filing prints it (this page: the 2026 FDD). Spelling variants of the same group may be listed apart; a brand is never grouped with an owner its filing does not name.
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 318% above the typical personal care & beauty franchise.
Source: FDD 2026 · Items 5–7
Full Item 7 breakdown18 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Fee | $60K | $60K | |
| Site Evaluation Services | $2K | $4K | |
| Security Deposit and Rent | $23K | $56K | |
| Leasehold Improvements | $645K | $922K | |
| Architectural Fees | $35K | $39K | |
| Permits | $8K | $13K | |
| Signage | $22K | $39K | |
| Fixtures, Furniture and Equipment | $350K | $477K | |
| Initial Inventory | $54K | $152K | |
| Business Licenses | $250 | $1K | |
| Initial Training Fee | $5K | $5K | |
| Training Expenses | $3K | $5K | |
| New Location Launch Program | $10K | $10K | |
| Professional Services | $3K | $10K | |
| Insurance | $5K | $7K | |
| Computer and IT Systems and Components | $59K | $70K | |
| Grand Opening | $5K | $5K | |
| Additional Funds for the start-up phase (For Initial 3-Month Period) | $50K | $150K | |
| Total initial investment | $1.3M | $2.0M |
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%
- 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 415% above the personal care & beauty norm.
Source: FDD 2026 · 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 Woodhouse Spa 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
$1.8M
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
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 Woodhouse Spa 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: 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→$6.8MCited, not corroborated — printed on page 53 of the 2026 FDD. Nothing else in our record independently restates or re-derives it.
- Cohort dispersion (min → max)
- Quartile band
- $1.4M→$4.2M
- Bottom 25% → top 25%
- 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 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 $2.7M/year in gross sales. Revenue-to-investment ratio: 1.6x.
Fee burden
Total ongoing fee load of 7.8% (near the Personal Care & Beauty median).
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 medians
How Woodhouse Spa 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 2026 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 93
- Opened
- 6
- Last reporting year
- Closed
- 1
- Terminated
- 1
- Franchisor ended the franchise (per Item 20)
- Turnover rate
- 1.1%
- 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
Last fiscal year · Item 20 exits and transfers
- Terminated
- 1
- Transferred
- 0
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).
Where the owners are · Item 20 owner list
77 current owners across 14 states.
- FL 14
- KS 11
- MN 11
- TN 11
- GA 5
- OH 5
- SC 5
- CA 4
- VA 3
- AR 2
- CO 2
- NJ 2
- +2 more states
Counts only, from the list the franchisor prints in Item 20. Names and phone numbers are for your own due diligence and are not shown here.
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
- Limited · 59 loans
- Limited SBA coverage: 59 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 · 59 loans
- 5-yr charge-off
- Limited · 59 loans
- Loans approved 2021+
- Active lenders
- 15
- Defaults
- N/A
Explore lender portfolios on Bank Reports or regional data on State Reports.
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: the franchisor is a named party (defendant).
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.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Plante & Moran, PLLC
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Attached financial statements are the audited consolidated statements of guarantor affiliate Radiance Intermediate, LLC and Subsidiaries (not the franchisor entity's standalone financials), so franchisor-specific balance sheet figures are not separately disclosed.
ⓘ 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 71 / 100 verdict
- 01MINORRobust net worth $27,919,591 and net income $9,276,892
- 02HIGHOnly former/settled litigation
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 territory |
| 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
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.
Who owns Woodhouse Spa?
Woodhouse Spa is franchised by The Woodhouse SPAS, LLC. Its parent company is Woodhouse Gathering, LLC. The ultimate parent named in the FDD is TSG9 L.P.. Source: FDD Item 1, 2026 filing.
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?
SBA 7(a) loan charge-off data is not available for Woodhouse Spa (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 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 71 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
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.