Franchising

Nekter finishes Q1 2022 with 18 franchise agreements

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April 5, 2022

Nekter Juice Bar, which has nearly 170 locations in the U.S., signed 18 agreements in the first quarter of 2022, representing 37 locations as it plans to grow its national footprint from 19 to 25 states by 2023. Those markets include Arizona, Arkansas, California, Illinois, Montana, Minnesota, Missouri, New Jersey and Texas.

"Nekter Juice Bar's brand interest and stability is a narrative that is not commonplace in today's new retail environment and that's why franchisees interested in a wellness brand continue to turn to us," CEO Steve Schulze said in a company press release. "Our approach to franchising begins with giving our franchise partners ownership in the success of the brand by incorporating their on-the-ground insights into our R&D efforts and development plans. We also don't leave our new partners on an island, assigning significant amounts of resources to new markets in terms of human capital, advertising and promotion."

Nekter, which reported a rapid rebound at the start of the pandemic with comp stores showing positive results year-over-year as early as April 2020, saw a 28% revenue increase in 2021 versus 2020.

"Nekter Juice Bar has been building one of the largest nutrition-focused brands in the United States for over a decade," said Sean Sehgal, president of CVM Inc., a Nekter franchise partner.

"I have been a franchisee with five locations throughout the greater metropolitan Los Angeles area — with two more on the way — and have been blessed to be supported by an incredible Nekter development team. Our success has been built on simple ingredients: healthier food, great experiences for families, strong community ties, and franchisee satisfaction. Our brand includes an innovative and unique menu which empowers us to grow into multi-unit franchisees and be competitive. We continue to invest in new sites and are driven by the success we have enjoyed with the brand, which goes above and beyond to support us with our business model."