Franworth® Sells The Lash Lounge®, Recapitalizes and Restructures

ANN ARBOR, Mich., March 19, 2024 ~ Franworth, a leading franchise development firm, has recently announced the sale of its holdings in The Lash Lounge to Riverside Capital. This sale marks the anchor for Riverside's new boutique beauty platform. The partnership between Franworth and The Lash Lounge founder, Anna Phillips, began when the business was just a small, locally owned and operated company with six units in Dallas, Texas. With Franworth's support, The Lash Lounge has grown from six to over 130 open units and an additional 140 units sold.

Dave Keil, former CEO of The Lash Lounge and partner at Franworth, expressed his honor in being Anna's first CEO. Together with Franworth, they were able to grow the company from 19 to 61 units in their first year and have continued to support Anna and her team ever since. Keil also shared his excitement for this new chapter in The Lash Lounge's growth journey and wished them all the best.

The success of this growth journey can be attributed to the current CEO of The Lash Lounge and board member of the International Franchise Association (IFA), Meg Roberts. Roberts acknowledged the vision of Anna Phillips, the support from Franworth, and the exceptional leaders and franchisees she has had the privilege to lead every day.

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In addition to this exit from The Lash Lounge, Franworth has re-capitalized and refocused its mission. Founder and CEO John Rotche stated that their mission is to create brighter futures for founders, franchisor teams, and most importantly, entrepreneurs who join their family as franchisees of their many brands. As part of this re-capitalization process, Paul Blavin has joined as a partner alongside Drew Brees, John Rotche, and Dave Keil. Blavin is a fellow Michigan alumnus who shares Franworth's passion for their mission.

Blavin expressed his honor in joining such a sacred mission of creating exceptional opportunities for extraordinary entrepreneurs. He believes that Franworth is uniquely positioned to bring this mission to life. Franworth also took the opportunity to thank its original partners, Rick Washburn, the late Tom Lyons, David Barr, and Guideboat Capital for their support and contributions to the business.

In addition to these changes, Franworth has also announced its re-organization into a leader-led organization. John Rotche will remain as Founder and CEO, while Dave Keil will continue as President. The executive team also includes Jennifer Fields as COO, Megan Conway as CMO, Jonathan Koudelka as General Counsel, and Dave Taccolini as CAO. The team has also welcomed Leo Blavin to lead new business growth for Franworth Supply Chain.

With these changes in place, Franworth is confident in its ability to continue creating exceptional opportunities for entrepreneurs and fulfilling its mission of creating brighter futures for all those involved in their franchise family.
Filed Under: Business

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