Tropical Smoothie Cafe opens 101 units in 2017
Tropical Smoothie Cafe beat its 2017 goal of opening 100 units by one. The chain, which hit 101 openings to end the year with 630 locations, also signed 187 agreements to grow its footprint in markets nationwide. In addition to propelling development, Tropical Smoothie reported comp sales of 3.3 percent, marking the brand's fourth consecutive year of positive growth, according to a company press release.
"From driving franchise development to revamping our digital platforms and launching new products, our team has worked tirelessly to elevate Tropical Smoothie Cafe to new heights," Mike Rotondo, CEO of Tropical Smoothie Café, said in the release. "With more than 630 locations open nationwide, a committed network of franchisees and a new corporate leadership team at the helm, we're positioned for continued success in 2018 and on pace to reach our goal of 1,000 locations by 2020."
Amidst the ongoing growth throughout 2017, Tropical Smoothie Cafe also invested in its corporate leadership, appointing six industry veterans, including:
- Rob Collins, CMO.
- Pete Ward, general counsel.
- Paul Marsden, CFO.
- Jaime Denney, SVP of operations.
- Cheryl Fletcher as VP of franchise development Strategy.
- Kristi Kingery as VP of supply chain.
The chain is looking to add qualified franchisees to keep up the growth, Rotondo said. Candidates should have business experience; $125,000 in liquid assets and a minimum net worth of $350,000; and an initial investment of between $222,770 and $525,400,
Topics: Franchising & Growth