MassageLuXe Has Record Breaking Start to 2021
Fast-growing luxury spa franchise MassageLuXe is just halfway through 2021 but the results so far have been record-breaking. Interest in franchising is up, average spa revenue is on the rise, 70 locations are open, and another 7 will open soon. Not a bad first half of the year.
MassageLuXe has simply cornered the spa market and its growing base of members are passionate about the brand’s massages, facials, waxing, and more. All of it offered in a luxurious environment carefully crafted and just right for relaxation and modern health treatments.
The $18 billion massage space is lucrative and now is the time for growth. “As people continue to shift their mindset from “luxury” to “essential wellness,” the market is only going to continue to grow,” says MassageLuXe CEO Mark Otter. The brand has available markets nationwide and is especially looking to expand in Texas, Ohio, and Georgia. The company’s goal over the next 5 years, says Otter, is grow to 250 locations. That’s why now is such a great time for qualified franchisees looking to build a business with a premiere brand.
“MassageLuXe has grown strategically over the years, nurturing our proven business model and fine-tuning our unit economics,” says Kristen Pechacek, Chief Growth Officer for MassageLuXe. “Our business model is scalable and now we really want to open the doors to grow the brand.”
Qualified franchise candidates will find MassageLuXe’s initial investment ranges from $339,000-$571,000, and candidates will need 10 to 30 percent of that in liquidity in order to take advantage of the many popular funding strategies available. There are numerous other avenues for completing financing, says Otter. “Most first-time franchise buyers use a combination of personal savings, SBA loans, conventional loan products, and 401(k) or IRA rollovers,” he says. “Severance packages and home equity are other great ways to secure necessary financing.” Otter says it’s also important for candidates to have a credit score of at least 600 and preferably above 700 to access the best financing options and terms.
Pechacek says MassageLuXe is looking for growth-minded franchisees interested in multi-unit packages that grant owners exclusive franchise development rights to at least 3 franchise units within a defined territory.
MassageLuXe franchisees are joining a brand that utilizes a membership model and reoccurring revenue streams which helps to create a more consistent sales cycle. The brand’s quick ramp-up schedule, expanding service line, product offerings, and grand opening marketing support help franchisees open quickly. There is also the resource of a community of MassageLuXe franchisees with a track record of success supported by ongoing training and proprietary state-of-the-art management software.
If you’re looking for a business that can withstand economic ups and downs, MassageLuXe has a proven track record. Across the board the brand’s franchisees continued to maintain their businesses throughout the Covid-19 pandemic. Consumer demand is only growing as doctors prescribe massage therapies as alternative treatments and a growing number of consumers look to take better care of themselves.
MassageLuXe could just be the investment opportunity you’ve been looking for. Markets and territories are available now and growth potential is strong. If you’d like to find out more about franchise opportunities with MassageLuXe visit https://massageluxe.com/franchise-opportunities/
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