Buying an European Wax Center franchise: SBA acquisition loan data
Since FY2018, SBA lenders have approved 17 7(a) loans to buy an existing European Wax Center (classified mostly as Other Personal Care Services), totaling $16.9M. The median loan was $467,000, 28% lower than the $645,250 median for all SBA-financed acquisitions.
Seller note standby terms and third-party consents are reviewed before closing.
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What this tells a buyer
- Price range to expect. Loan size tracks purchase price. Half of European Wax Center resale loans landed between $337,100 and $1,269,600.
- Lender experience exists. Simmons Bank alone has financed 10 European Wax Center resales.
- Guaranty. The SBA guaranteed 75% of the dollars lent here.
- What the file leaves out. The SBA file does not record franchisor transfer terms or fees.
Financing an European Wax Center resale
The median SBA 7(a) loan for an European Wax Center resale was $467,000 across 17 loans (FY2018 to FY2026). Simmons Bank, Live Oak Banking Company and First Commonwealth Bank have financed the most European Wax Center resales. Too few of these loans are old enough to measure a charge-off rate; the average for all SBA acquisition loans is 3.5%.
European Wax Center acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 6 | $3.7M | $526,200 | |
| FY2019 | 6 | $8M | $408,500 | |
| FY2020 | 3 | $938K | $310,000 | |
| FY2021 | 1 | $1.5M | $1,475,000 | |
| FY2022 | 1 | $2.7M | $2,700,000 | |
| FY2023 | 0 | $0 | - | |
| FY2024 | 0 | $0 | - | |
| FY2025 | 0 | $0 | - | |
| FY2026 | 0 | $0 | - |
How often do these acquisition loans fail?
Fewer than 20 European Wax Center acquisition loans are old enough to measure losses reliably, so no charge-off rate is shown. The benchmark across all SBA acquisition loans in the FY2018 to FY2021 cohort is 3.5% by count. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
The purchase agreement decides what you bought, not the loan approval.
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Lenders financing European Wax Center resales
| # | Lender | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Simmons Bank | 10 | 58.8% | $4.8M | |
| 2 | Live Oak Banking Company | 2 | 11.8% | $4.2M | |
| 3 | First Commonwealth Bank | 2 | 11.8% | $3.8M | |
| 4 | Happen Bank | 1 | 5.9% | $3.2M | |
| 5 | Avidia Bank | 1 | 5.9% | $600K | |
| 6 | PNC Bank, National Association | 1 | 5.9% | $320K |
States where European Wax Center units are bought
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | California | 4 | 23.5% | $2.4M | |
| 2 | Georgia | 3 | 17.6% | $2.1M | |
| 3 | Texas | 2 | 11.8% | $3.8M | |
| 4 | Florida | 2 | 11.8% | $1.1M | |
| 5 | New York | 1 | 5.9% | $3.2M | |
| 6 | Illinois | 1 | 5.9% | $2.7M | |
| 7 | Massachusetts | 1 | 5.9% | $600K | |
| 8 | Virginia | 1 | 5.9% | $385K | |
| 9 | West Virginia | 1 | 5.9% | $320K | |
| 10 | Colorado | 1 | 5.9% | $310K |
The purchase agreement decides what you bought, not the loan approval.
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How lenders classify European Wax Center
Lenders code each loan to a NAICS industry. For European Wax Center the codes used were:
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Other Personal Care Services | 12 | 70.6% | $10.4M | |
| 2 | All Other Personal Services | 3 | 17.6% | $5.4M | |
| 3 | Beauty Salons | 2 | 11.8% | $985K |
Questions buyers ask
How much do buyers borrow to buy an European Wax Center franchise?
The median SBA 7(a) loan for an European Wax Center resale was $467,000 across 17 loans (FY2018 to FY2026). The middle half of loans ran from $337,100 to $1,269,600. The loan excludes the buyer's equity and any seller note and may include working capital, so the price is usually higher than the loan.
Which banks finance European Wax Center acquisitions?
Simmons Bank has made the most SBA acquisition loans for European Wax Center (10, 59% of the total). Live Oak Banking Company, First Commonwealth Bank, Happen Bank follow.
What interest rate and term do European Wax Center acquisition loans carry?
The average initial rate at approval was 7.03% (a blend of fixed and variable loans across several rate environments, so treat it as context, not a quote). The median term was 10 years.
Is an European Wax Center resale riskier than other SBA-financed acquisitions?
Too few European Wax Center acquisition loans are old enough to measure. The benchmark for all SBA acquisition loans is 3.5% charged off in the FY2018 to FY2021 cohort.
Where are European Wax Center units being bought with SBA loans?
California (4), Georgia (3), Texas (2), Florida (2), New York (1). State counts follow where the brand has units and where SBA lending is most active generally; see the state pages for the overall picture.
Terms signed in the LOI shape the purchase agreement that follows.
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Related
- All Other Personal Care Services acquisitions
- California acquisitions
- Georgia acquisitions
- Texas acquisitions
- Simmons Bank
- Live Oak Banking Company
- First Commonwealth Bank
- All franchise brands
Brand name as recorded by lenders in the SBA file: "European Wax Center" (franchise code S0585). Figures are aggregates of public SBA data and are not provided or endorsed by the franchisor.