Franchise Disclosure Document Ewc Franchise Group, Inc.
FRANCHISE DISCLOSURE DOCUMENT EWC FRANCHISE GROUP, INC. The Village at Gulfstream Park 600 Silks Run, Suite 2270 Hallandale Beach, FL 33009 (954) 455-5913 www.waxcenter.com jessica@waxcenter.com If we (franchisor) approve you (franchisee), you will establish and operate a business offering hot wax hair removal services to women and men and other related goods. The total investment necessary to begin operations of a European Wax Center franchise is 292,200 to 374,897. This includes a one-time lump franchise fee of 45,000 for the initial European Wax Center franchise, or 36,000 for subsequent European Wax Center franchises, that you pay to us, the franchisor. The initial investment also includes 13,000 to 15,980 that you pay to us, or our affiliate, for a start-up package of your initial supply of European Wax Center products and 2,900 to 3,100 for a start-up package of European Wax Center marketing materials that we currently refer to as a “New Store Launch Kit”. This Disclosure Document summarizes certain provisions of your franchise agreement and other information in plain English. Read this Disclosure Document and all accompanying agreements carefully. You must receive this Disclosure Document at least 14 calendar days before you sign a binding agreement with, or make any payment to, the franchisor or an affiliate in connection with the proposed franchise sale. Note, however, that no governmental agency has verified the information contained in this document. You may wish to receive your Disclosure Document in another format that is more convenient for you. To discuss the availability of disclosures in different formats, contact Ms. Jessica Coba, EWC Franchise Group, Inc., The Village at Gulfstream Park, 600 Silks Run, Suite 2270, Hallandale Beach, FL 33009, (954) 455-5913. The terms of your contract will govern your franchise relationship. Don’t rely on the Disclosure Document alone to understand your contract. Read your entire contract carefully. Show your contract and this Disclosure Document to an advisor, like a lawyer or an accountant. Buying a franchise is a complex investment. The information in this Disclosure Document can help you make up your mind. More information on franchising, such as “A Consumer’s Guide to Buying a Franchise,” which can help you understand how to use this Disclosure Document, is available from the Federal Trade Commission. You can contact the FTC at 1-877-FTC-HELP or by writing to the FTC at 600 Pennsylvania Avenue, NW, Washington, D.C. 20580. You can also visit the FTC’s home page at www.ftc.gov for additional information. Call your state agency or visit your public library for other sources of information on franchising. There may also be laws on franchising in your state. Ask your state agencies about them. Date of Issuance: January 1, 2012 (modified June 30, 2012)
STATE COVER PAGE Your state may have a franchise law that requires a franchisor to register or file with a state franchise administrator before offering or selling in your state. REGISTRATION OF A FRANCHISE BY A STATE DOES NOT MEAN THAT THE STATE RECOMMENDS THE FRANCHISE OR HAS VERIFIED THE INFORMATION IN THE DISCLOSURE DOCUMENT. Call the state franchise administrator listed in Exhibit A for information about the franchisor, or about franchising in your state. MANY FRANCHISE AGREEMENTS DO NOT ALLOW YOU TO RENEW UNCONDITIONALLY AFTER THE INITIAL TERM EXPIRES. YOU MAY HAVE TO SIGN A NEW AGREEMENT WITH DIFFERENT TERMS AND CONDITIONS IN ORDER TO CONTINUE TO OPERATE YOUR BUSINESS. BEFORE YOU BUY, CONSIDER WHAT RIGHTS YOU HAVE TO RENEW YOUR FRANCHISE, IF ANY, AND WHAT TERMS YOU MIGHT HAVE TO ACCEPT IN ORDER TO RENEW. PLEASE CONSIDER THE FOLLOWING RISK FACTORS BEFORE YOU BUY THIS FRANCHISE: 1. THE FRANCHISE AGREEMENT REQUIRES THAT MOST DISPUTES BE SUBMITTED TO ARBITRATION IN MIAMI-DADE COUNTY, FLORIDA. OUT OF STATE ARBITRATION MAY FORCE YOU TO ACCEPT A LESS FAVORABLE SETTLEMENT FOR DISPUTES. IT MAY ALSO COST YOU MORE TO ARBITRATE WITH US IN FLORIDA THAN IN YOUR HOME STATE. 2. THE FRANCHISE AGREEMENT STATES THAT FLORIDA LAW GOVERNS THE AGREEMENT, AND FLORIDA LAW MAY NOT PROVIDE THE SAME PROTECTIONS AND BENEFITS AS YOUR STATE’S LAW. YOU MAY WANT TO COMPARE THESE LAWS. 3. IN CONNECTION WITH THE FRANCHISE, WE MAY SET THE PRICE FOR THE PRODUCTS AND SERVICES YOU SELL, IF THE LAWS OF YOUR STATE ALLOW US TO DO SO. 4. THE FRANCHISEE WILL BE REQUIRED TO MAKE AN ESTIMATED INITIAL INVESTMENT RANGING FROM 292,200 TO 374,897. THIS AMOUNT EXCEEDS FRANCHISOR’S STOCKHOLDERS EQUITY AS OF DECEMBER 31, 2011, WHICH IS NEGATIVE 21,459. THEREFORE, AS PER THE AUDITED BALANCE SHEET DATED DECEMBER 31, 2011, FRANCHISOR HAD A NET WORTH DEFICIENCY OF 21,459. 5. AS OF JUNE 14, 2012, FRANCHISOR HAS AWARDED 342 EUROPEAN WAX CENTER FRANCHISE LICENSES, OF WHICH 192 ARE OPEN AND OPERATING. ACCORDINGLY, ONLY 56% OF OUR LICENSES ARE OPEN AND OPERATING AS OF JUNE 14, 2012. OF THE 150 LICENSES THAT HAVE NOT OPENED FOR BUSINESS, 49 ARE UNDER DEVELOPMENT AND THE REMAINING 101 ARE IN THE SITE SELECTION PROCESS. 6. YOUR ABILITY TO LOCATE A SITE FOR YOUR FRANCHISED CENTER MAY DEPEND ON A NUMBER OF FACTORS, INCLUDING DEMOGRAPHICS, INGRESS AND EGRESS, COMPETITION FROM AND PROXIMITY TO OTHER BUSINESSES, SIZE, APPEARANCE, TRAFFIC COUNT, THE NUMBER OF OTHER FRANCHISEES LOOKING FOR A SITE FOR THEIR FRANCHISED CENTER WITHIN YOUR REGION AND OTHER PHYSICAL AND COMMERCIAL CHARACTERISTICS OF THE REGION. BECAUSE PROTECTED TERRITORIES ARE NOT DETERMINED UNTIL A FRANCHISEE HAS LOCATED AN APPROVED SITE, THERE COULD BE OTHER FRANCHISEES WITHIN YOUR REGION LOOKING FOR A SITE AT THE SAME TIME AS YOU. 7. THERE MAY BE OTHER RISKS CONCERNING THIS FRANCHISE.
The states listed below may require registration or filing of this Disclosure Document. If this offering is registered in any of these states, the effective date of the registration may differ from the date of issuance of this Disclosure Document on the cover page of this Disclosure Document. Some of these states may require different or additional disclosures or revisions to the agreement. The effective date of this Disclosure Document for any state that is not included in this list is as shown on the cover page of this Disclosure Document. (See the State Addenda to this Disclosure Document for certain states.) California Effective Date: April 16, 2012 Florida Effective Date: December 15, 2011 Hawaii Effective Date: July 1, 2011 Illinois Effective Date: April 16, 20121 Indiana Effective Date: August 27, 2011 Kentucky Effective Date: June 17, 20114 Maryland Effective Date: September 21, 2011 Michigan Effective Date: April 15, 2012 Minnesota Effective Date: April 23, 2012 Nebraska Effective Date: November 24, 20104 New York Effective Date: June 20, 2012 North Carolina Effective Date: March 30, 2012 North Dakota Effective Date: September 21, 2011 Rhode Island Effective Date: April 27, 2012 South Dakota Effective Date: August 5, 2011 Texas Effective Date: Utah Effective Date: June 20, 20084 October 18, 2011 September 28, 20112 Virginia Effective Date: Washington Effective Date: September 16, 2011 April 19, 2012 November 28, 20113 Wisconsin Effective Date: April 3, 2012 1. Lowery Holdings III, LLC and EWC North, LLC registered along with us in the state of Illinois, effective April 16, 2012. On March 30, 2012, EWC North, LLC acquired DMREWC Development, IL, LLC’s area representative rights in Illinois. 2. NW Wax Area Development LLC, an affiliate of Pacific Wax, LLC, which the ownership is identical to Pacific Wax, LLC, registered in the state of Utah on September 28, 2011. NW Wax Area Development LLC obtained the area representative rights for Utah from Pacific Wax, LLC on November 16, 2011. 3. NW Wax Area Development LLC, an affiliate of Pacific Wax, LLC, which the ownership is identical to Pacific Wax, LLC, registered in the state of Washington on November 28, 2011. NW Wax Area Development LLC obtained the area representative rights for Washington from Pacific Wax, LLC on November 16, 2011.
4. At this time, Texas, Nebraska and Kentucky only require an initial filing without an obligation to renew each year. [The remainder of this page is intentionally left blank.]
TABLE OF CONTENTS ITEM PAGE ITEM 1. THE FRANCHISOR, AND ANY PARENTS, ITS PREDECESSORS AND AFFILIATES. 1 ITEM 2. BUSINESS EXPERIENCE . 5 ITEM 3. LITIGATION . 6 ITEM 4. BANKRUPTCY . 6 ITEM 5. INITIAL FEES . 6 ITEM 6. OTHER FEES . 8 ITEM 7. ESTIMATED INITIAL INVESTMENT . 12 ITEM 8. RESTRICTIONS ON SOURCES OF PRODUCTS AND SERVICES . 17 ITEM 9. FRANCHISEE’S OBLIGATIONS. 20 ITEM 10. FINANCING . 21 ITEM 11. FRANCHISOR’S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING . 21 ITEM 12. TERRITORY . 30 ITEM 13. TRADEMARKS . 31 ITEM 14. PATENTS, COPYRIGHTS AND PROPRIETARY INFORMATION . 33 ITEM 15. OBLIGATION TO PARTICIPATE IN THE ACTUAL OPERATION OF THE FRANCHISED BUSINESS . 34 ITEM 16. RESTRICTIONS ON WHAT THE FRANCHISEE MAY SELL . 34 ITEM 17. RENEWAL, TERMINATION, TRANSFER AND DISPUTE RESOLUTION . 34 ITEM 18. PUBLIC FIGURES . 40 ITEM 19. FINANCIAL PERFORMANCE REPRESENTATIONS. 40 ITEM 20. OUTLETS AND FRANCHISEE INFORMATION . 40 ITEM 21. FINANCIAL STATEMENTS . 58 ITEM 22. CONTRACTS . 58 ITEM 23. RECEIPTS. 58
EXHIBITS A. B. C. D. E. F. G. H. I. J. K. L. LIST OF STATE ADMINISTRATORS LIST OF STATE AGENTS FOR SERVICE OF PROCESS FRANCHISE AGREEMENT TABLE OF CONTENTS OF CONFIDENTIAL OPERATIONS MANUAL FINANCIAL STATEMENTS LIST OF TERMINATED FRANCHISEES FRANCHISEE DISCLOSURE QUESTIONNAIRE MULTI-STATE ADDENDA CURRENT FRANCHISEES CURRENT AREA REPRESENTATIVES AGREEMENT REGARDING FRANCHISEE LEASE ILLINOIS SUBFRANCHISOR SUPPLEMENTS (APPLICABLE TO ILLINOIS ONLY) L-1 EWC North, LLC Subfranchisor Supplement to Franchise Disclosure Document L-2 Lowery Holdings III, LLC Subfranchisor Supplement to Franchise Disclosure Document
ITEM 1. THE FRANCHISOR, AND ANY PARENTS, ITS PREDECESSORS AND AFFILIATES In this Disclosure Document, the words “we,” “our,” “us” and “European Wax Center” refer to EWC Franchise Group, Inc., the franchisor. “You” and “your” refer to the person who buys the franchise, also called the franchisee. A person in this Disclosure Document means an individual or a legally recognized entity, such as a corporation, limited liability company or other business entity. The Franchisor We were incorporated in the State of Florida on May 26, 2005 to offer European Wax Center franchises. Our principal business address is The Village at Gulfstream Park, 600 Silks Run, Suite 2270, Hallandale Beach, Florida 33009. We do business under our company name and the name European Wax Center. We have offered European Wax Center franchises in this line of business since December 2006. Exhibit I lists the names of all of our franchisees as of January 1, 2012, as well as the addresses and telephone numbers of any European Wax Centers they operate. We also offer a second franchise program in this line of business for area representatives to solicit prospective European Wax Center franchisees and provide pre-opening and ongoing support to franchisees in a territory we mutually select. We offer these franchises using a separate Disclosure Document. We have offered area representative franchises since August 1, 2008. Exhibit J lists the names and business experience of all of our area representatives as of January 1, 2012, as well as the addresses and telephone numbers of their principals. We are not offering an area representative franchise in this Disclosure Document. An area representative may operate a European Wax Center of the type described in this Disclosure Document. An area representative, referred to sometimes as a subfranchisor, may act on our behalf to provide you and other prospective franchisees with agreed upon support services, including initial training, operations assistance, solicitation of prospective franchisees, ongoing support, or periodic quality assurance visits with existing franchisees in a given territory. An area representative is not our employee, and does not have authority to bind us to any agreement. Except as described above, we do not offer franchises in any other business. The Franchise Being Offered You will operate a business that provides high-end hot wax hair removal services for women and men. We refer to this business in this Disclosure Document as the franchise or franchised center. You must pay a one-time fee, which is called the franchise fee, for us to grant you a franchise (see ITEM 5 below). You must operate the franchised center in the territory that we grant you. You will need about 1,200 to 1,400 square feet of space to establish and operate the franchised center. Your franchised center will do business under the trade name, EUROPEAN WAX CENTER and use our other related service marks, trademarks or logos (our “Marks”). You will also operate the franchised center based on our standards, methods, procedures and specifications, called our “System.” You will find our System described in the Confidential Operations Manual that we will provide to you on loan or make available to you electronically, and as we modify and update over time. Our System includes the look of the franchised center, the items and services you offer, the manner for displaying items, down to the way you conduct business. By agreeing to operate the franchised center, you agree to abide by and uphold the System we use to operate our franchise-wide System and your franchised center. 1
Our Parents, Predecessors We do not have any parent or predecessor companies. Affiliates We have 20 affiliate companies: European Wax Center, Inc., EWC Distribution, Inc., EWC Franchise Distribution Company, LLC, EWC P&T, Inc., EWC Aventura, Inc., EWC Fort Lauderdale, Inc., EWC Holdings, Inc., EWC Transportation, Inc., EWC MFund, Inc., EWC Merrick, Inc., EWC SFL Region, Inc., EWC Group Holding, LLC, EWC Family, LLC, EWC Gulf Coast, LLC, EWC NMB, LLC, EWC Gables, LLC, EWC Kendall, LLC, EWC Estero, LLC, EWC Royal Palm, LLC and EWC Naples, LLC (collectively, our “Affiliates”). European Wax Center, Inc. was incorporated in Florida on February 12, 2002. Its principal business address is The Village at Gulfstream Park, 600 Silks Run, Suite 2270, Hallandale Beach, Florida 33009. Previously, it owned and operated 4 European Wax Centers at the following locations: (a) (b) 3023 Aventura Blvd., Aventura, Florida. This center has been in operation since November 2004; 274 North Federal Hwy., Fort Lauderdale, Florida. This center has been in operation since February 2004; (c) 4525 Weston Rd, Weston, Florida. This center has been in operation since July 2006; and (d) 801 S. University Drive, Suite A-131, Plantation, Florida. This center has been in operation since July 2005. Each of these European Wax Centers was the same type of business that you as a franchisee will be operating. However, the Aventura, Ft. Lauderdale and Weston locations listed above were transferred to 3 affiliated entities, EWC Aventura, Inc., EWC Fort Lauderdale, Inc. and EWC Weston, Inc, respectively. The Weston location was then sold by EWC Weston, Inc. to a franchisee in November, 2009 and is now operated as a European Wax Center franchise. The Plantation location was sold to a franchisee in 2008 and is now operated as a European Wax Center franchise. EWC Aventura, Inc. was incorporated in Florida on March 14, 2008 and, on January 1, 2009, it took over ownership and operation of the European Wax Center located at 3023 Aventura Blvd., Aventura, Florida 33180. Its principal business address is 3023 Aventura Blvd., Aventura, Florida 33180. The European Wax Center business operated by EWC Aventura, Inc. is the same type business that you as a franchisee will be operating. EWC Fort Lauderdale, Inc. was incorporated in Florida on March 14, 2008 and, on January 1, 2009, it took over ownership and operation of the European Wax Center located at 274 North Federal Hwy., Fort Lauderdale, Florida. Its principal business address is 274 North Federal Hwy., Fort Lauderdale, Florida 33301. The European Wax Center business operated by EWC Fort Lauderdale, Inc. is the same type business that you as a franchisee will be operating. EWC Merrick, Inc. was incorporated in New York on May 25, 2010 to operate a European Wax Center in Merrick, New York. EWC Merrick, Inc. is owned by David Coba individually. This European Wax Center opened for business on December 1, 2010. EWC SFL Region, Inc. was incorporated in Florida on September 22, 2011 to act as an area representative for the south Florida region for Franchisor. Its principal business address is The Village at Gulfstream Park, 600 Silks Run, Suite 2270, Hallandale Beach, Florida 33009. On September 27, 2011, EWC SFL Region, Inc. acquired the area representative rights to the south Florida region from EWC South Florida, LLC for fair market value. The purchase was mutually agreed to and was not treated as a termination of EWC South Florida, LLC’s rights. The members of EWC South Florida, LLC remain part of the European Wax Center franchise system as area representatives for north Florida. EWC SFL Region, Inc. is owned by David Coba, Joshua Coba, Jessica Coba (Streiner) and Galo Coba individually. The European Wax Center area representative business operated by EWC SFL Region, Inc. is the same type business that other area representatives of the European Wax Center franchise system operate. 2
EWC NMB, Inc. was incorporated in Florida on October 25, 2011 to obtain and operate the North Miami Beach, Florida franchise location. Its principal business address is 13655 Biscayne Boulevard, Bay 4, North Miami Beach, Florida 33181. On October 31, 2011, EWC NMB, Inc. took over ownership of the European Wax Center located at 13655 Biscayne Boulevard, Bay 4, North Miami Beach, Florida for fair market value. The purchase of the North Miami Beach location was mutually agreed to in order to assist EWC SFL Region, Inc. continue to develop the south Florida region, and was not treated as a termination of Boca Euro North Miami, LLC’s rights. The members of Boca Euro North Miami, LLC remain part of the European Wax Center franchise system as franchisees of other south Florida locations. The European Wax Center business operated by EWC NMB, Inc. is the same type business that you as a franchisee will be operating. On May 25, 2012, EWC NMB, Inc. was converted from a Florida corporation to a Florida limited liability company. EWC NMB, LLC is owned 100% by EWC Group Holding, LLC. EWC Gables, Inc. was incorporated in Florida on December 15, 2011 to obtain and operate the Coral Gables, Florida franchise location. Its principal business address is 1212 South Dixie Highway, Coral Gables, Florida 33146. On January 4, 2012, EWC Gables, Inc. took over ownership of the European Wax Center located at 1212 South Dixie Highway, Coral Gables, Florida for fair market value. The purchase of the Coral Gables location was mutually agreed to in order to assist EWC SFL Region, Inc. continue to develop the south Florida region, and was not treated as a termination of Miami Wax #1 LLC’s rights. The members of Miami Wax #1 LLC remain part of the European Wax Center franchise system as franchisees of other south Florida locations. The European Wax Center business operated by EWC Gables, Inc. is the same type business that you as a franchisee will be operating. On April 26, 2012, EWC Gables, Inc. was converted from a Florida corporation to a Florida limited liability company. EWC Gables, LLC is owned 100% by EWC Group Holding, LLC. EWC Distribution, Inc. was incorporated in Florida on February 19, 2008. Its principal business address is The Village at Gulfstream Park, 600 Silks Run, Suite 2270, Hallandale Beach, Florida 33009. EWC Distribution was incorporated for the purpose of product and supply distribution to European Wax Center franchises. On December 15, 2011, EWC Distribution, Inc. transferred the European Wax Center franchise product and supply distribution business to a joint venture named EWC Franchise Distribution Company, LLC. The joint venture is owned 90% by EWC Distribution, Inc. and 5% each by Sanjeev Khanna and Govind Agrawal, two minority owners of us. EWC Franchise Distribution, LLC was originally formed on September 14, 2011. Its principal business address is the Village at Gulfstream Park, 600 Silks Run, Suite 2270, Hallandale Beach, Florida 33009. EWC P&T, Inc. was incorporated in Florida on November 4, 2008. Its principal business address is The Village at Gulfstream Park, 600 Silks Run, Suite 2270, Hallandale Beach, Florida 33009. EWC P&T, Inc. was incorporated for the purpose of owning the Marks and other intellectual property licensed to us and subsequently licensed by us to our franchisees. EWC Transportation, Inc. was incorporated in Florida on November 4, 2008. Its principal business address is The Village at Gulfstream Park, 600 Silks Run, Suite 2270, Hallandale Beach, Florida 33009. EWC Transportation, Inc. was incorporated for the sole purpose of owning certain vehicles used by us and our affiliates. EWC Holdings, Inc. was incorporated in Florida on November 5, 2008. Its principal business address is The Village at Gulfstream Park, 600 Silks Run, Suite 2270, Hallandale Beach, Florida 33009. EWC Holdings, Inc. was incorporated to serve as a holding company for certain EWC entities. EWC MFund, Inc. was incorporated in Florida on December 22, 2009. Its principal business address is The Village at Gulfstream Park, 600 Silks Run, Suite 2270, Hallandale Beach, Florida 33009. EWC MFund, Inc. was incorporated to operate and maintain the marketing fund for the European Wax Center System. EWC Family, LLC was organized in Florida on March 21, 2012. Its principal business address is The Village at Gulfstream Park, 600 Silks Run, Suite 2270, Hallandale Beach, Florida 33009. EWC Family, LLC was organized to serve as a holding company for certain ownership interests held by David Coba, Joshua Coba, Galo Coba and Jessica Coba (Streiner). EWC Group Holding, LLC was organized in Florida on March 21, 2012. Its principal business address is The Village at Gulfstream Park, 600 Silks Run, Suite 2270, Hallandale Beach, Florida 33009. EWC Group Holding, 3
LLC was organized to serve as a holding company for certain ownership interests held by EWC Family, LLC and an ownership group initially made up of Sanjeev Khanna, Ambika Khanna and Govind Agrawal. EWC Kendall, LLC was organized in Florida on March 21, 2012 to obtain and operate the Kendall, Florida franchise location. Its principal business address is 8530 SW 124th Avenue, Kendall, Florida 33183. On April 23, 2012, EWC Kendall, LLC took over ownership of the European Wax Center located at 8530 SW 124th Avenue, Kendall, Florida for fair market value. The purchase of the Kendall location was mutually agreed to in order to assist EWC SFL Region, Inc. continue to develop the south Florida region, and was not treated as a termination of Trebow Inc.’s rights. The European Wax Center business operated by EWC Kendall, LLC is the same type business that you as a franchisee will be operating. EWC Kendall, LLC is owned 100% by EWC Group Holding, LLC. EWC Royal Palm, LLC was organized in Florida on April 3, 2012 to obtain and operate the Royal Palm Beach, Florida franchise location. Its principal business address is 11021 Southern Blvd. Suite 160, Royal Palm Beach, Florida 33411. On June 1, 2012, EWC Royal Palm, LLC took over ownership of the European Wax Center located at 11021 Southern Blvd. Suite 160, Royal Palm Beach, Florida for fair market value. The purchase of the Royal Palm Beach location was mutually agreed to in order to assist EWC SFL Region, Inc. develop the south Florida region, and was not treated as a termination of Joise/Vicky L.L.C.’s rights. The European Wax Center business operated by EWC Royal Palm, LLC is the same type business that you as a franchisee will be operating. EWC Royal Palm, LLC is owned 100% by EWC Group Holding, LLC. EWC Gulf Coast, LLC was organized in Florida on April 19, 2012 to act as an area representative for the gulf coast region in Florida for Franchisor. Its principal business address is The Village at Gulfstream Park, 600 Silks Run, Suite 2270, Hallandale Beach, Florida 33009. On June 1, 2012, EWC Gulf Coast, LLC acquired the area representative rights to the gulf coast region from KAM Associates, LLC for fair market value. The purchase was mutually agreed to and was not treated as a termination of KAM Associates’s rights. The European Wax Center area representative business operated by EWC Gulf Coast, LLC is the same type business that other area representatives of the European Wax Center franchise system operate. EWC Gulf Coast, LLC is owned 100% by EWC Group Holding, LLC. EWC Naples, LLC was organized in Florida on April 3, 2012 to obtain and operate the Naples, Florida franchise location. Its principal business address is 2349 Vanderbilt Beach Rd. #502, Naples, Florida 34109. On June 1, 2012, EWC Naples, LLC took over ownership of the European Wax Center located at 2349 Vanderbilt Beach Rd. #502, Naples, Florida for fair market value. The purchase of the Naples location was mutually agreed to in order to assist EWC Gulf Coast, LLC develop the gulf coast region in Florida, and was not treated as a termination of KAM EWC-Naples, LLC’s rights. The European Wax Center business operated by EWC Naples, LLC is the same type business that you as a franchisee will be operating. EWC Naples, LLC is owned 100% by EWC Group Holding, LLC. EWC Estero, LLC was organized in Florida on April 3, 2012 to obtain and operate the Bonita Springs, Florida franchise location. Its principal business address is 8017 Plaza Del Lago Dr #111, Bonita Springs, Florida 33128. On June 1, 2012, EWC Estero, LLC took over ownership of the European Wax Center located at 8017 Plaza Del Lago Dr #111, Bonita Springs, Florida for fair market value. The purchase of the Bonita Springs location was mutually agreed to in order to assist EWC Gulf Coast, LLC develop the gulf coast region in Florida, and was not treated as a termination of EWC of Coconut Point LLC’s rights. The European Wax Center business operated by EWC Estero, LLC is the same type business that you as a franchisee will be operating. EWC Estero, LLC is owned 100% by EWC Group Holding, LLC. You do not receive an ownership interest in us or our Affiliates should we at our sole discretion elect to grant you a franchise. EWC SFL Region, Inc. began to offer franchises as an area representative of the European Wax Center franchise system in south Florida on September 27, 2011. EWC Gulf Coast, LLC began to offer franchises as an area representative of the European Wax Center franchise system in Florida on June 1, 2012. None of our other Affiliates have offered any European Wax Center franchises and they have not offered franchises in any other business. 4
General Description of the Market and Competition Your European Wax Center franchise competes in the cosmetology and aesthetician industry. The market is developed and very competitive. Your franchised center will compete for the discretionary income of consumers. You may have to compete with other businesses offering services and products similar to those that we offer, including franchised operations, national chains, health clubs, spas, beauty parlors and independently owned companies. You may also encounter competition from other European Wax Center franchises. The operation of the franchised center may be affected by various shifts in the local and national economic conditions. You may be subjected to intermittent periods of business inactivity depending on where y
The total investment necessary to begin operations of a European Wax Center franchise is 292,200 to 374,897. This includes a one-time lump franchise fee of 45,000 for the initial European Wax Center franchise, or 36,000 for subsequent European Wax Center franchises, that you pay to us, the franchisor. The initial investment
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The disclosure document summarizes certain provisions of your franchise agreement and other information in plain English. Read this disclosure document and all agreements carefully. You must receive this disclosure document at least 14 days before you sign a binding agreement or make any payment in connection with the franchise sale.
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