Tropical Smoothie Cafe Opens 43 Cafes and Signs 103 New Franchise Agreements YTD
Tropical Smoothie Cafe, a fast-casual cafe franchise known for both its better-for-you smoothies and food with a tropical twist, announced its strong growth year-to-date in 2020 including the signing of 103 new franchise agreements, including 49 signed since March 1 — of which, 67% are with existing franchisees.
In addition, the company also opened 43 new restaurants in 2020 with 35 cafes opening since March 1. Franchise agreements and cafe openings targeted growth in 25 states, propelling franchise development efforts in target markets across the country.
With many franchise concepts having to pivot their business models to align with the recent events and related economic shift, Tropical Smoothie Cafe, LLC went above and beyond to commit to its franchisees, team members, and guests by implementing systemwide initiatives. Most notably, the company restructured its franchise development team to provide needed best practices and support to guide franchisees through the Paycheck Protection Program (PPP) funding process and its real estate team shifted priorities to assist franchisees as they negotiated rent deferrals and abatements. As a result, Tropical Smoothie Cafe franchisees secured more than $29 million in PPP funds for small business owners across the system and achieved $1.8 million in rent relief for approximately 250 cafes. Additionally, the brand implemented hyper-local marketing initiatives, enhanced order modes to include curbside and delivery options, and offered a 50% royalty relief reduction for eight weeks to further support franchisees.
"As we reflect on the past few months, we're incredibly humbled by the momentum we've accomplished during one of the most challenging periods our industry has ever experienced," said Charles Watson, CEO of Tropical Smoothie Cafe, LLC. "Keeping our culture and franchisees top priority, we quickly mobilized to ensure our franchisees felt supported and were equipped with the right guidance and tools to successfully navigate through this unprecedented time. With the majority of new franchise agreements and cafe openings stemming from existing operators, it only reinforces the passion and sense of pride that our franchisees feel in our brand, and we couldn't be more optimistic about the future. In short, our franchisees have shown grit and perseverance through all of this, and the credit for our brand success and momentum goes to them. We are incredibly grateful for their dedication to Tropical Smoothie Cafe as evidenced by our robust growth pipeline and additional interest in the brand."
Neha writes articles on sectors including medicine, food, materials, and science & technology. A qualified statistician, she has the ability to observe and analyze the trends in global markets and write compelling articles that help CXOs in decision making. She is a bookworm and loves to read fiction, lifestyle, science and technology. Neha comes with 6 years of experience in content writing and editing that involves blog writing, preparation of study materials and OERs.