SBA 7(a) loan outcomes · FY2010–FY2019 cohort · Statuses as of June 30, 2026 · Last updated August 17, 2026
Waxing the City Franchise Failure Rate: 14.7% SBA Loan Defaults (2010–2019 Federal Data)
Source: U.S. SBA FOIA dataset, statuses as of June 30, 2026. Figures also in the comparison table below.
About 1 in 7 Waxing the City SBA borrowers failed to repay — above the Other Personal Care Services average of 10.0%.
Between 2010 and 2019, 34 Waxing the City franchisees financed with SBA 7(a) loans. 5 defaulted — a 14.7% charge-off rate, 1.5x the Other Personal Care Services average of 10.0%. Source: U.S. Small Business Administration FOIA dataset, loan statuses as of June 30, 2026.
What is the Waxing the City franchise failure rate on SBA loans?
Waxing the City is a Other Personal Care Services franchise. This page reports the outcome of every SBA 7(a) loan the U.S. Small Business Administration's public FOIA file attributes to Waxing the City franchisees: 34 loans approved between fiscal 2010 and 2019, of which 5 were charged off. Loan statuses are as of June 30, 2026, and the cohort has matured, so these are settled outcomes rather than projections.
- SBA 7(a) loans approved FY2010–FY201934
- Charged off5
- Charge-off rate14.7%
- Other Personal Care Services franchise benchmark10.0%
- Brand vs industry1.5x
- All-franchise SBA benchmark10.2%
- Average loan size, 2010s cohort$261,632
- New SBA loans since 202074
- Early charge-offs since 20203
How does Waxing the City compare with other Other Personal Care Services franchises?
The table sets Waxing the City's charge-off rate beside its Other Personal Care Services peers and the two economy-wide benchmarks. All figures use the same cohort — SBA 7(a) loans approved FY2010–FY2019, statuses as of June 30, 2026 — and the same denominator of resolved loans, so they are directly comparable.
| Measure | Waxing the City | Other Personal Care Services | All franchises | All SBA borrowers |
|---|---|---|---|---|
| Default (charge-off) rate | 14.7% | 10.0% | 10.2% | 8.0% |
| Loans in sample | 34 | — | — | — |
| Defaults | 5 | — | — | — |
| Average loan size | $261,632 | — | — | — |
What has Waxing the City SBA lending looked like since 2020?
Since 2020, Waxing the City franchisees have taken 74 new SBA 7(a) loans. 3 have already charged off. Early defaults on loans under six years old are notable — most SBA failures take longer to develop.
Loans approved since 2020, by fiscal year — counts only: 3 have charged off to date and most are still outstanding, so no rate is drawn.
Source: U.S. SBA FOIA dataset, statuses as of June 30, 2026.
Show the numbers behind this chart
| Fiscal year | Loans | Charged off | Rate |
|---|---|---|---|
| FY2013 | 1 | 0 | 0.0% |
| FY2014 | 3 | 0 | 0.0% |
| FY2015 | 5 | 0 | 0.0% |
| FY2016 | 6 | 1 | 16.7% |
| FY2017 | 9 | 1 | 11.1% |
| FY2018 | 9 | 2 | 22.2% |
| FY2019 | 1 | 1 | 100.0% |
| FY2020 | 5 | — | outstanding |
| FY2021 | 5 | — | outstanding |
| FY2022 | 11 | — | outstanding |
| FY2023 | 7 | — | outstanding |
| FY2024 | 16 | — | outstanding |
| FY2025 | 24 | — | outstanding |
| FY2026 | 6 | — | outstanding |
How to read this
A charge-off means a franchisee borrowed, operated, and failed severely enough that the SBA wrote off the government-guaranteed loan. Unlike franchisor marketing or Item 19 disclosures, this is an observed outcome recorded by a federal agency. One caveat cuts the other way: SBA borrowers are typically less capitalized than all-cash buyers, so these rates can overstate risk for well-funded operators.
How reliable is this number?
Waxing the City's figure rests on 34 resolved SBA 7(a) loans approved between fiscal 2010 and 2019 — a matured cohort, so the rate is a settled outcome, not a projection. With 34 resolved loans, one default moves the rate by about 2.9 percentage points. Loans approved since 2020 are excluded from the rate because most are still outstanding; they appear on this page as counts only. Every Waxing the City figure is recomputed from the public SBA FOIA file on each rebuild.
Based on 34 resolved loans — directional, not precise.
Frequently asked
- What is Waxing the City's franchise failure rate on SBA loans?
- Between 2010 and 2019, 34 Waxing the City franchisees financed with SBA 7(a) loans. 5 defaulted — a 14.7% charge-off rate, 1.5x the Other Personal Care Services average of 10.0%. Source: U.S. Small Business Administration FOIA dataset, loan statuses as of June 30, 2026.
- Is Waxing the City a safe franchise investment?
- Between 2010–2019, Waxing the City franchisees defaulted on SBA loans at 14.7% versus a 10.0% industry average. This data is one input for due diligence; it is not investment advice.
Cite this page
Franchise Default Rates (2026). Waxing the City franchise SBA 7(a) default rate, FY2010–FY2019 cohort: 14.7% (5 of 34 loans charged off). Derived from U.S. SBA FOIA data, loan statuses as of June 30, 2026.
https://franchisefailurerates.com/franchise/waxing-the-city/ · Data & methodology · Download the dataset (CSV)