News

Tropical Smoothie ending year with a bang

Photo: Tropical Smoothie

October 8, 2019

Tropical Smoothie Cafe, which awarded 64 franchise agreements in the third quarter of this year, expects to have signed 200 franchise agreements, open 130 cafes and grow same-store sales by 5% by the end of 2019, according to a company press release. 

"Our focus on operational execution and delivering a remarkable guest experience have been integral to the growth we are experiencing. We are privileged that new franchisees recognize our commitment to the franchise community and that existing franchisees continue to reinvest in the brand by executing additional multi-unit agreements," Charles Watson, CEO of Tropical Smoothie Cafe LLC, said in the release

Franchisees have signed multi-unit franchise agreements for a number of markets across the country, including Chicago, Tampa, Orlando, Cleveland and New Haven, Connecticut. The Chicago-area remains a growth market for the brand, where a total of 36 franchise agreements have been signed since October 2018, with both existing multi-unit and new franchisees. One of these openings, outside of Chicago, was the brand's 800th location, and its franchisee plans to develop an additional 17 units in the coming years.

"This is a testament to our support center team, leadership, and passionate franchisees that position Tropical Smoothie Cafe as a brand with tremendous value to small business owners," said Watson, who is seeking qualified franchise candidates. They should have business experience, $125,000 in liquid assets and a minimum net worth of $350,000. Candidates that meet these preliminary qualifications will need to make an initial investment ranging between $246,500-$580,500.

The system has an average unit volume of more than $730,000 — the highest in the company's 22-year-history with the top 50% reporting an AUV of more than $938,000, according to the release.