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With 72 deals signed this year, and over 40% year-over-year growth, Paris Baguette, based in Seoul, South Korea, is poised to meet its goal of opening 56 U.S. locations in 2022 and expanding to Florida, Hawaii and Maryland
"There's a tremendous amount of opportunity in the bakery café space," Mark Mele, chief development officer, said in a company press release. "No one else is doing what we are on the same scale, and that's attracting a lot of attention. It's a really exciting time for us as we continue seeing growth through franchise expansion and year-over-year revenue numbers."
Paris Baguette, which has 4,000 global locations, hopes to hit 1,000 U.S.-based units by 2030 by partnering with franchisees interested in serving people in a welcoming neighborhood establishment.
"We want someone who is going to take the time to be present in their store and be caring with the staff so that everyone understands the most important person is the guest," Mele said.
Paris Baguette is targeting Washington, California, Arizona, Colorado, Minnesota, Kansas, Oklahoma, Texas, Missouri, Wisconsin, Illinois, Tennessee, Georgia, Florida, North Carolina, South Carolina, Kentucky, West Virginia, Virginia, Ohio, Indiana, Michigan, Pennsylvania and Maryland. The chain will also continue development in New Jersey and New York and also expand in some additional states in New England, including Connecticut and Massachusetts.
"Even throughout the pandemic, we did not shy away from opening additional units and exploring new markets," TJ Rogers, franchise sales manager, said in the release. "With great year-over-year revenue increases — a 42% jump from last year — and a persistent interest in the brand from franchisees and consumers alike, we expect nothing but a strong continued growth trajectory for the brand."
The total investment to franchise with Paris Baguette ranges from $528,270 and $1,638,554, including a $50,000 franchise fee.