Franworth® Sells The Lash Lounge®, Recapitalizes and Restructures

ANN ARBOR, Mich., March 19, 2024 /PRNewswire/ -- Franworth is pleased to announce it has sold its holdings in The Lash Lounge to Riverside Capital, as the anchor to their new boutique beauty platform. Franworth and The Lash Lounge founder, Anna Phillips, a pioneer in eyelash extensions in the US, partnered when The Lash Lounge was a 6-unit locally owned and operated business in Dallas, TX. Franworth helped grow this early mover in the boutique beauty space, from 6 to over 130 open and another 140 units sold.

Dave Keil notes, "I was honored to be Anna's first CEO, and together with Franworth, we prepared and grew the company from 19 to 61 units in our first year and have continued to support Anna and The Lash Lounge team ever since." He adds, "It is very exciting to see Anna and her team step into this new season of their growth journey, and we wish them and The Lash Lounge franchisees all the best." Key to the success of this growth journey is the current Lash Lounge CEO, and IFA Board member Meg Roberts. Meg adds, "We are here today because of the vision of Anna Phillips, the support from Franworth, and the incredible set of leaders and franchisees I have the honor and privilege to lead every day."

In conjunction with this exit, Franworth has re-capitalized and refocused its mission. Franworth Founder and CEO, John Rotche states, "Our mission is to create brighter futures, for our founders, our franchisor teams, and – most importantly – the entrepreneurs who join the Franworth family as franchisees of our many brands." Concurrent with The Lash Lounge exit, Franworth has re-capitalized the firm adding Paul Blavin as partner joining Drew Brees, John Rotche and Dave Keil. Paul is a fellow Michigan alumnus and is passionate about Franworth's mission. Paul states. "I could not be more honored to join this sacred mission of creating exceptional opportunities for extraordinary entrepreneurs, and I believe Franworth is uniquely positioned to help bring our mission to life." Franworth would like to thank its original partners Rick Washburn, the late Tom Lyons, David Barr, and Guideboat Capital for their collective support along the journey, and for the insights and capital they brought to the business.

Franworth also announces its re-organization and transformation into a leader-led organization. John Rotche remains Founder and CEO and Dave Keil remains President. Franworth's executive team also includes Jennifer Fields recently promoted to COO, Megan Conway, CMO, Jonathan Koudelka, General Counsel and Dave Taccolini who recently returned to the organization as CAO. The team has also added Leo Blavin to lead new business growth for Franworth Supply Chain.

About Franworth

Headquartered in Ann Arbor, Mich., Franworth builds, incubates, and grows franchise brands through mentorship, education and best-in-class support empowering entrepreneurs and creating brighter futures. With over 450 years of franchising experience, the Franworth team has been recognized with the highest honors in franchising and for repeatedly scaling brands using a franchise model. Franworth's current portfolio of franchise brands includes MilkShake Factory^®, sugaringLA^®, MosquitoNix^®, Garage Kings^®, HealthSource America's Chiropractor^®, and Degree Wellness^®. For more information visit franworth.com.

Media Contact:
Megan Conway
[email protected] 

SOURCE Franworth