Building a multi-brand empire: Tanner Holmes' blueprint for franchise growth

Some people fall into franchising. Tanner Holmes was born into it.

At just 32 years old, this Chicago-based operator has already built and exited multiple franchise businesses across four different brands – European Wax Center, Hush Lash Studio, Sola Salons and Perspire Sauna Studio – racking up an 11x return on his studios and a staggering 19x return on his area development rights along the way. But before any of that, Tanner was a kid sitting quietly in the corner of an American Suntan Association board meeting, watching his parents build a tanning business from a one-bedroom apartment behind a gas station.

That early exposure shaped everything that came next. On this episode of “The Sidekick Life,” Tanner sat down with Ryan and Tyler to unpack exactly how he turned sweat equity, timing and relentless focus into a multi-unit, multi-brand portfolio. Plus, he’s sharing what he's learned along the way that most first-time franchisees never hear.

Key takeaways

• Negotiate sweat equity when cash isn't an option. Prove your value first, then make the ask.
• Start every franchise discovery process with your "why" before evaluating any brand.
• Build accountability, operational excellence and consistency into every location you run.
• Watch for franchisors that sell more licenses than they can realistically support opening.
• Understand a brand's growth story and life cycle before committing to a concept.
• Growth takes longer, costs more and pays off bigger than you expect, patience wins.

Growing up in the family business

Tanner's parents bootstrapped an indoor tanning franchise from nothing, growing it to 25 units. But the real lesson wasn't the growth, it was the exposure.

"I think the second thing that it really taught me is the value of just showing up and being in the room," Tanner said, reflecting on the board meetings his dad brought him to as a kid.

That mindset, show up, ask questions, learn from people who've already done it, became the foundation for everything he built later. It also explains why Tanner leaned so heavily on mentorship instead of trying to figure things out alone. As he put it, business ownership requires humility.

"There's a lot of alignment with health, wellness and beauty,” Tanner said. “The businesses operate quite similarly, but willingness to be a sponge of information from people who'd already walked the path made all the difference.”

Sweat equity: Buying in without any cash

Tanner didn't start with a big loan or a pile of savings. He started as an overworked, underpaid director of operations for a struggling five-unit European Wax Center group and negotiated his way into ownership through pure performance.

"I said, you know, I'd love sweat equity. I think it's time," Tanner said.

He recalled the moment he asked for equity across the entire portfolio instead of just the new sixth location, so he wouldn't be tempted to play favorites. That two percent stake eventually grew to five, then ten, then twenty percent as the business scaled from five units to twelve.

The takeaway? Prove your value first. Then make the ask. As Tyler put it during the conversation, that's the real playbook for anyone trying to work their way into ownership without deep pockets.

The COVID pivot that led to perspire

Every franchise journey has a turning point, and for Tanner, it was COVID-19. After riding a wave of consistent growth with European Wax Center, the pandemic forced a reckoning.

"For the first time I was battled with the 'holy cow' moment," Tanner said, "You know, what happens next."

That uncertainty pushed him to explore new categories entirely. During a personal visit to an infrared sauna, the idea clicked instantly. The business model mirrored the tanning salons he grew up around, just with a different piece of equipment. That single session led him to Perspire Sauna Studio, where he's now grown from one unit in downtown Chicago to four (with a fifth in construction) and holds area development rights across Illinois and Wisconsin.

Why "why" comes before everything else in franchise discovery

If there's one piece of advice Tanner wants every aspiring franchisee to internalize, it's this: start with your why, not the brand.

"I think you have to start with why,” Tanner said. “What is it that you're trying to accomplish?"

He explained that the franchise discovery process changes every time based on personal and professional goals in that season of life, how many units you want, how much time you're willing to invest and whether you're building to hold or building to sell.

He also had a clear-eyed take on red flags to watch for during discovery, particularly brands that sell far more licenses than they can realistically support opening. Understanding a brand's growth story, not just its current size, is critical before signing anything.

The three words that actually drive franchise success

When asked what separates thriving multi-unit operators from everyone else, Tanner didn't hesitate: accountability, operational excellence and consistency.

It’s not flashy marketing or personality-driven leadership, but whether every location executes the same playbook to the same standard, with real feedback loops built in. It's a theme that echoes something Franchise Sidekick preaches often, the brand matters less than your ability to run the operation with discipline.

Slow down: Tanner's advice to his 22-year-old self

After nearly a decade of building, buying and selling across four brands, Tanner's biggest reflection was about patience.

"There is no such thing as overnight success," Tanner said. "In business it will take longer, it will make less, and it will cost more, but it will be more rewarding than you could have ever imagined."

It's proof that even the most impressive franchise résumés are built one location, one season and one hard lesson at a time.

Ready for more episodes?

If Tanner's story has you thinking about what your next chapter in franchise ownership could look like, we've got what you're looking for.

“The Sidekick Life” is packed with conversations just like this one, real talk, expert guests and practical insights for entrepreneurs at every stage of the journey.

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