Monday, June 25, 2012

Monkey Joe

Dishwashers
Both Atlanta-based Monkey Joe’s Parties and Play and Hallandales Beach, Fla.-based European Wax Center are scoutingt the area fornew sites. Matthew a retail broker at NewQuest Properties who is representing both retailers inlease negotiations, says European Wax Center has signed two leases and is currently negotiating for two more. Monkeh Joe’s is initially looking for thred sites in thelocal market, according to Monkey Joe’s caters to childrenm ages two to 12 with giant air-fillexd structures, obstacle courses and developmentak games.
The locations also featurse private party roomswith on-site party planning and concessionn items, as well as a parent’s lounge with big-screejn TVs and free Internet access. Monkeyg Joe’s is owned by Atlanta-based Raving Brands Inc. The privatelty held company also owns Planet Doc Green’s, Shane’s Rib Shack, Boneheadas and Flying Biscuit. With the exceptionm of Planet Smoothie, none of those brandss currently operate in The franchisee forMonkey Joe’s in Houston, John could not be reached for comment, but Reed says the companu is currently working on leaswe agreements in West the Willowbrook area and in Humble.
He expectxs the first location to open by the end ofthe year. He says each Monkeh Joe’s site must span 15,000 squarr feet and have ceilings at least 22 feet high to accommodatw theinflatable structures. Meanwhile, European Wax Center is planning to bring itsproprietary four-step waxing system to the local marke t and has already signed two leases. The first European Wax Center is scheduled to open in River Oaks Plazaa at 1564 West Gray onJune 15. A secondx center, slated to open later this will be located in the West University area at 5154Buffalpo Speedway. Reed says there are also dealss in the works in theMemorial area, the Woodway/Voss area and the Galleriaw area.
“We plan to enter all upscale subdivisionsaroundf Houston,” says Judd Miller, who owns the franchisew rights in Houston and Dallas. Miller, who is also a franchisee and developer for MassageEnvy Ltd. LLC, says he planse to open 30 to 40 waxin g salons in Houston alone over the next four to five The European Wax Center concept caters to men and womeb ages 18 to 44 and bills itself as offerinv affordablewaxing services, with the most expensive service being a $35 Braziliahn wax. In addition to individual the centers offer monthly membershipsfor $9.99. Member s receive a 30 percent discount on all Miller compares European Wax Centerto Ariz.
-based Massage Envy, which is structured to offer affordablse services to the masses. Massage Envy members pay $49 per monthb for a one-hour massagse and can add additional massagesfor $39. Millerf doesn’t consider expanding into the waxing businessd during the economic downturn a risk because ofthe value-priced European Wax Center concept. “If you look all of the businesses performing well are businesse that provide value tothe customer,” he “People are still spendinh money as long as they are receiving a valuew for their money.” European Wax currently has nine locations one in California, one in Arizona and sevenm in Florida.
Others are on the way in Nevadzaand Texas. In the past six months, the company has sold more than 50 with 100 locations anticipated by the end of this Current expansion plansinclude Nevada, Texas, New York, New California, Florida and Georgia. European Wax Center is set to open 85 locationsw in the Texas market over the next four WhileMonkey Joe’s and European Wax Center are expanding, other franchises aren’ t experiencing the same growth. The Franchise Business Economic Outloofor 2009, prepared by PricewaterhouseCoopers LLP, forecasts that the number of franchises will declinde in 2009 by 1.
2 percent, from nearly 865,000 to less than 855,00o — a net loss of some 10,0090 establishments. These estimated declineas can be attributed, in part, to the unfoldingh credit crisis.

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