News

Organic juice and smoothie café franchise set to expand

March 26, 2013

Austin-based Daily Juice, which serves made-to-order organic juices and smoothies, as well as grab-and-go foods, is on a mission to grow from two units to 100 by 2016, according to a company press release. Taking steps toward that goal, Daily Juice Group has completed its capital raise on a valuation of $5 million in funding from a private equity group, led by George "Kam" Kronenberg and John Abraham. Abraham will take a seat on Daily Juice Group's board. The capital will be used to build a support team at the corporate headquarters, including franchise operations, marketing and site selection, said John Martin, Daily Juice Group's CEO and co-founder.

"The private equity group (as Juice Investments LLC) is very well connected and is very synergistic in its investment approach to us," he said. "They also have a lot of real estate knowledge and are helping us evaluate top tier sites for new locations. Their investment takes the burden of fundraising off our backs so we can really focus on the brand and expanding the concept via franchising."

Daily Juice Group currently has two franchised locations in Austin,Texas, with a third set to open in Westlake, Texas, in April.

Read more about franchising and growth.