Tropical Smoothie Cafe is flying high after reporting that same-store sales increased nearly 30% during Q1, thanks to an 11-week limited-time-offer featuring shrimp and the Hurricane Smoothie, CEO Charles Watson said in a company press release. Additionally, the brand announced the signing of 95 franchise agreements with a number of new and existing multi-unit operators and the opening of 25 cafes nationwide..
"We're thrilled to have hit the ground running in Q1 with strong results across the board," Watson said. "The incredible demand for select menu items continues to drive strong same-store sales, and the record number of franchise agreements provides a very healthy pipeline for our future growth. Tropical Smoothie Cafe is on track for another strong year with 130 new cafe openings planned, as we continue to elevate the brand to new heights."
Among the 95 new franchise signings, industry veteran and experienced Hardee's multi-unit franchisee, Rob Schmidt, signed an agreement to develop 16 locations with Tropical Smoothie Cafe in Mississippi and one in Alabama over the next several years. Schmidt, a five-time Hardee's Franchisee of the Year award winner, owns and operates 36 Hardee's locations across multiple states and has more than 25 years of experience in the restaurant industry.
"It's been an incredibly rewarding experience franchising with Hardee's over the past two decades, and I'm very excited to diversify my franchise portfolio with a high-caliber brand like Tropical Smoothie Cafe," Schmidt said in the release. "The first time I visited a Tropical Smoothie Cafe location nearly four years ago, I was immediately impressed with the healthier menu items and found myself craving the brand's smoothies regularly. Once I began looking into the franchising opportunity, I learned about the exceptional culture and how the brand's values of putting people first aligned with mine, and the rest was history.
In addition to Schmidt expanding his portfolio, Tropical Smoothie Cafe also signed multi-unit agreements with a Moe's and Burger King franchisee in New York for eight locations, and an existing franchisee in Texas for an additional 16 locations, which will bring the franchisee's cafe count to 30 restaurants.
Tropical Smoothie Cafe is seeking qualified franchisees to join the brand and has franchise opportunities in markets throughout the U.S. Interested candidates should have business experience, along with a minimum net worth of $350,000, which includes $125,000 in liquid assets. Candidates who meet these preliminary qualifications will need to make an initial investment ranging between $198,500 and $543,500, Watson said.
The franchise currently boasts an average unit volume (AUV) of more than $768,000 — the highest in the company's 24-year-history — with the top 50% reporting an AUV of more than $982,000, according to the release.
Tropical Smoothie Cafe has more than 940 locations nationwide.
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