Franworth Achieves Exceptional Portfolio Growth and New Part
ANN ARBOR, Mich., Jan. 30, 2020 /PRNewswire/ -- Franworth®, a franchise-focused growth equity firm, announced today its significant achievements from 2019, adding new portfolio investment brands and accelerating value for existing franchises. The company's newest boutique beauty and wellness franchises include Madison Reed Color Bar®, skoah®, LIVE WELL Exercise Clinic® in Canada and SPRINGWELL Exercise Clinic® in the U.S. Franworth also expanded its corporate leadership team with franchise industry veterans, and welcomed New Orleans Saints quarterback and multi-unit franchisee and franchisor Drew Brees as a partner and a member of its Executive Board.
"Our team is incredibly proud of all that has been accomplished in 2019 and we are excited to work alongside the founders of our portfolio brands as we head into 2020," said John Rotche, founder and CEO of Franworth. "As we enter a new decade, our mission remains helping emerging franchise concepts scale and achieve profitability. With more than 450 years of collective franchise experience and a full suite of professional services, there's no doubt we'll be able to sustain our continued growth and future success for years to come."
In 2019, Franworth partnered with prestige hair color brand Madison Reed in a joint venture to expand their corporate Madison Reed Color Bar business into the franchise sector. Franworth also welcomed two innovative Canadian-based franchises: specialty retailer and facial-only spa and proprietary line of skincare products franchise, skoah and healthy habits-focused LIVE WELL Exercise Clinic. Both brands have had great success throughout Canada, and recognized the challenge of expanding throughout the U.S. and chose Franworth as their partner to access experience and resources to help bridge the gap.
Franworth also assisted in accelerating the growth and success of its existing portfolio brands, including CITYROW®, a rapidly-emerging boutique fitness studio that delivers a high-intensity, low-impact, full body workout. Through its partnership with Franworth, CITYROW expanded from two corporate-owned studios based in New York City to develop its franchise system with 20 new studios to open by year-end and at least 40 more in development.
Additionally, Franworth's partnership with the premier eyelash salon franchise, The Lash Lounge, helped to systematize the brand's business model and celebrated its 100th franchise location opening in December 2019. The Lash Lounge began working with Franworth in 2016 and has grown to become an industry-leading franchise, with nearly 200 new units currently under development nationwide. The Lash Lounge debuted on Entrepreneur's esteemed 2020 Franchise 500 list at No. 312 and the company is currently recruiting for new franchises in several markets including Denver, Colo., Chicago, Ill., Nashville, Tenn., and Baton Rouge, La.
"With only 5 percent of U.S. franchises reaching the 100-unit threshold within 10 years, it's an exceptional accomplishment for The Lash Lounge team and we couldn't be more proud. The Lash Lounge's impressive growth since joining the Franworth family is a true testament to the unparalleled value of the services we provide, and we look forward to replicating the same coveted success with our other portfolio investment brands," added Rotche.
By joining the Franworth family of franchise brands, founders of emerging franchisors gain access to a wealth of industry knowledge and receive guidance from the company's executives and support team on all aspects of the franchising process, including franchise sales, real estate development, construction, marketing, operations and training, financial planning, legal, product fulfillment, and executive advisory. In addition to its extensive franchising experience, Franworth continues to innovate and differentiate itself while remaining engaged in the company's operations and growth. On behalf of Franworth, John Rotche was recently recognized by winning the regional Ernst & Young Entrepreneur of the Year® 2019 Award.
With new portfolio brands and a growing team, Franworth now operates out of three offices, including the downtown Ann Arbor, Mich. Franworth Building, the Franworth Resource Center in Pittsfield Township, Mich. where Liberty Fulfillment, Franworth's own procurement and distribution company resides, and the newest location in Sarasota, Fla.
For more information on Franworth or to learn more about buying a boutique beauty or wellness franchise or how it can help your emerging franchise establish systems and processes from industry leaders, visit franworth.com.
Headquartered in Ann Arbor, Michigan, Franworth helps brands build a strong foundation, navigate their acceleration, and create economic value for both franchisors and their franchisees. Through its expansive suite of professional services and best-in-class processes, talent, technology and proprietary supply chain system, Franworth specializes in mentoring emerging franchisors and helping them scale their businesses efficiently to achieve profitability and maximize their potential for success. The company's executive board includes Founder, CEO and Managing Director John Rotche, CFE; Managing Director and Partner David Barr; and Partner Drew Brees. Franworth's Leadership Team includes seasoned franchise executives President and Chief Operating Officer Dave Keil; General Counsel and Chief of Staff Jonathan Koudelka; and Chief Financial Officer David Taccolini. Franworth's current portfolio of franchise brands includes Title Boxing Club®, The Lash Lounge®, CITYROW®, LIVE WELL Exercise Clinic® and SPRINGWELL Exercise Clinic®, Madison Reed Color Bar® and skoah®. For more information on Franworth or to learn more about how it can help your company grow, visit franworth.com.
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