SBA 7(a)/504 FOIA · FY1991–PRESENT · CALIFORNIA
THE NOW franchise in California: what the public record shows
Franchisees of THE NOW in California have taken 9 SBA loans in the FY1991–present FOIA files (average $683,344). Fewer than 30 of them were approved through FY2020 and have resolved, so no local loss ratio is published. THE NOW has too few seasoned resolved loans nationally for a national ratio.
Loans in CA
9
Charged off (all years)
—
Loss ratio in CA
—
Loss ratio nationally
—
Source: SBA 7(a)/504 FOIA files (data.sba.gov), borrower state = CA. Loss ratio = charge-offs among loans approved through FY2020 ÷ the charge-offs expected if each had defaulted at the national rate for franchise loans approved the same year; 1.0× is the same. Only charged-off and paid-in-full loans count. A ratio is shown at 30+ such loans; “not clear” marks a ratio chance alone could produce. The all-years count mixes every era and is evidence, not a rate to compare. Borrowers are matched to the brand by name and SBA franchise code; some matches may be wrong or missing.
Businesses in this industry
5,553
statewide, all operators
Per 100k residents
14.1
national 11.6
Versus the country
+22%
denser
Every business in THE NOW's industry operating in California — franchised and independent — from the Census Bureau's County Business Patterns (2023), against 2024 population estimates. Counter-intuitively, density is not a warning: across the brand-state cells in the loan data, denser markets have historically charged off less often than the thinnest (see the research page). A crowded market is usually proven demand; an empty one is often empty for a reason.
Avg weekly wage, this industry
$961
California, BLS QCEW 2025
National average
$806
same industry, all states
Versus the country
+19%
costlier to staff
What THE NOW's industry actually pays workers in California, from the Bureau of Labor Statistics' Quarterly Census of Employment and Wages (2025), employment-weighted across counties. This cost signal is independent of the FDD: a market can look demand-rich above and still carry a margin headwind here if local wages run hot for the sector.
| System | Loans in CA | Charged off (all years) | Loss ratio in CA | Units in CA |
|---|---|---|---|---|
| MASSAGE ENVY | 83 | 8 of 70 | 0.7×NOT CLEAR | 126 |
| Gameday Men's Health | 27 | 0 of 1 | — | — |
| AFC/AMERICAN FAMILY CARE | 20 | 0 of 2 | — | 19 |
| HEALTH MART | 17 | 0 of 9 | — | 461 |
| The Joint...the chiropractic place | 15 | 0 of 7 | — | 33 |
| Medicine Shoppe | 14 | 0 of 7 | — | — |
| Perspire Sauna Studio | 13 | 0 of 2 | — | 21 |
| Heights Wellness Retreat | 12 | 1 of 5 | — | 13 |
| Elements Therapeutic Massage | 8 | 0 of 7 | — | — |
| Restore Hyper Wellness | 7 | — | — | — |
| beem Light Sauna | 6 | — | — | 3 |
| Hand and Stone | 6 | 0 of 6 | — | — |
Other systems in THE NOW's sector whose franchisees borrowed in California. A loss ratio appears only where at least 30 loans approved through FY2020 have resolved; “—” means too few.
A broker is usually paid by the franchisor to place you. I'm paid only by you, never by a franchisor you're considering — and the job is pressure-testing THE NOW’s numbers, including talking you out of a bad deal.