Franchise brand comparison
Massage Envy vs Hand & Stone
Compared on figures each brand discloses in its own Franchise Disclosure Document — 2025 for Massage Envy, 2025 for Hand & Stone. Investment, fees, and Item 19 gross sales, with the sample size behind every average.
Short answer
Hand & Stone comes out ahead on both sides of the ledger: about $175,000 cheaper at the midpoint of the investment range, and a higher disclosed average at $1,390,276 across 502 spas against Massage Envy's $1,137,964 across 187 locations. That is 1.92x capital efficiency, the highest of any brand we have reviewed, against Massage Envy's 1.26x. Two caveats cut against the headline. First, read the fee structures rather than the royalty rates: Hand & Stone's 4% local advertising requirement with a $400-per-week floor is the heaviest local obligation among the massage brands, so its total load lands close to Massage Envy's 6% plus 2% brand fund plus 2%. Second, Massage Envy's sample covers only current-format locations, which is a selective base, while Hand & Stone publishes no quartiles at all — so its variance is simply unknown, where Massage Envy at least discloses a 2.97x spread. Both concepts depend on recruiting licensed massage therapists in a persistently tight labor market.
Side by side
| Measure | Massage Envy | Hand & Stone |
|---|---|---|
| Concept category | Massage & skincare | Massage & skincare |
| FDD year | 2025 | 2025 |
| Total investment (Item 7) | $719,350–$1,081,000midpoint $900,175 | $578,507–$871,602midpoint $725,055 |
| Initial franchise fee | $45,000 | $32,500–$49,500 |
| Royalty | 6% | 5% yr 1, then 6% |
| Brand fund | 2% + 2% | 1% |
| Local advertising | None disclosed separately | 4% (min $400/wk) |
| Average gross sales (Item 19) | $1,137,964187 units — current-format locations open 12+ months, FY2024 | $1,390,276502 units — franchised spas open 12+ months, CY2024 |
| Median gross sales | $1,070,589 | $1,311,889 |
| Top quartile | $1,815,058 | Not disclosed |
| Bottom quartile | $610,237 | Not disclosed |
| Revenue ÷ investment | 1.26x | 1.92x |
| Quartile spread | 3.0x | — |
Bolded figures mark the stronger side of a row where both brands disclose a comparable number — lower investment, higher revenue, higher return on capital, narrower quartile spread. A brand that discloses nothing is never marked as losing a row: an undisclosed figure is an unknown, not a poor result.
What the numbers mean
Investment is Item 7, the franchisor's own estimate of everything needed to open. Massage Envy discloses a total initial investment of $719,350 to $1,081,000 in its 2025 FDD, a midpoint of $900,175, with an initial franchise fee of $45,000. Hand & Stone discloses a total initial investment of $578,507 to $871,602 in its 2025 FDD, a midpoint of $725,055, with an initial franchise fee of $32,500–$49,500.
Revenue is Item 19, and the unit count matters as much as the figure. Massage Envy reports average gross sales of $1,137,964 and a median of $1,070,589 across 187 units (current-format locations open 12+ months, FY2024). Hand & Stone reports average gross sales of $1,390,276 and a median of $1,311,889 across 502 units (franchised spas open 12+ months, CY2024).
Return on capital divides disclosed average sales by the midpoint investment. Massage Envy returns 1.26x and Hand & Stone returns 1.92x. This measures capital efficiency, not profit — it says how much annual revenue each dollar of build-out buys, and says nothing about the margin either concept actually runs.
Full review
Massage Envy
Cost, fees, and Item 19 revenue, reviewed against the 2025 FDD.
Full review
Hand & Stone
Cost, fees, and Item 19 revenue, reviewed against the 2025 FDD.
Frequently asked
- Massage Envy vs Hand & Stone: which is the better franchise?
- Hand & Stone comes out ahead on both sides of the ledger: about $175,000 cheaper at the midpoint of the investment range, and a higher disclosed average at $1,390,276 across 502 spas against Massage Envy's $1,137,964 across 187 locations. That is 1.92x capital efficiency, the highest of any brand we have reviewed, against Massage Envy's 1.26x. Two caveats cut against the headline. First, read the fee structures rather than the royalty rates: Hand & Stone's 4% local advertising requirement with a $400-per-week floor is the heaviest local obligation among the massage brands, so its total load lands close to Massage Envy's 6% plus 2% brand fund plus 2%. Second, Massage Envy's sample covers only current-format locations, which is a selective base, while Hand & Stone publishes no quartiles at all — so its variance is simply unknown, where Massage Envy at least discloses a 2.97x spread. Both concepts depend on recruiting licensed massage therapists in a persistently tight labor market.
- How much does a Massage Envy franchise cost compared to Hand & Stone?
- Massage Envy discloses a total initial investment of $719,350 to $1,081,000 in its 2025 FDD, a midpoint of $900,175, with an initial franchise fee of $45,000. Hand & Stone discloses a total initial investment of $578,507 to $871,602 in its 2025 FDD, a midpoint of $725,055, with an initial franchise fee of $32,500–$49,500.
- Does Massage Envy or Hand & Stone generate more revenue?
- Massage Envy reports average gross sales of $1,137,964 and a median of $1,070,589 across 187 units (current-format locations open 12+ months, FY2024). Hand & Stone reports average gross sales of $1,390,276 and a median of $1,311,889 across 502 units (franchised spas open 12+ months, CY2024). These are gross sales, not profit, and the number of units behind each average decides how much it tells you.
- What are the ongoing fees for Massage Envy and Hand & Stone?
- Massage Envy charges a royalty of 6% and a brand fund contribution of 2% + 2%. Hand & Stone charges a royalty of 5% yr 1, then 6% and a brand fund contribution of 1%, plus a local advertising obligation of 4% (min $400/wk).
Other comparisons
Before you rely on any of this
FDDs are filed annually and figures move. Request the current document from each franchisor and read Items 5, 6, 7 and 19 yourself — this is a summary to orient you, not a substitute for the disclosure or for your own advisors. We are not affiliated with, endorsed by, or compensated by either brand; see our disclosure policy.
Compare every brand at once in the sortable cost comparison table, or run these figures against your own assumptions in the ROI & payback calculator.