Red Mango Franchising Announces Red's Real Deal
$275,000 Store Buy Back Offer, $10,000 Reduction of Initial Franchisee Fee, $10,000 Additional New Store Marketing Campaign
Dallas--(BUSINESS WIRE)--Red Mango, one of the most popular and fastest-growing retailers of authentic nonfat frozen yogurt, today announced that it has launched the "Red's Real Deal" franchise program, which provides financial incentives for new franchisees and addresses a key concern of any new business owner: "What happens if this is not for me?"
James Franks, Red Mango's vice president of franchise sales, said, "Red's Real Deal is the first program of its kind and becomes effective immediately across 25 states. Under the program, Red Mango will purchase a new franchisee's store for up to $275,000 and take over the franchised location if the franchisee is not satisfied with their investment."
In a strong statement of confidence, Red's Real Deal program commits the company to purchasing the franchisee's Red Mango store for up to $275,000 if the franchisee is not satisfied with the store for any reason within the first six months of opening. The program also lowers the initial $35,000 franchise fee by $10,000 for franchisees who sign new franchise agreements in 2009 and contributes an additional $10,000 to the franchised location for local store marketing.
"The Red's Real Deal program fully reflects our positive outlook for our franchise and the business model we've established," Franks said. "It's the most transparent and bold statement we could think of to express our intent to grow our network and our commitment to develop a system of satisfied franchisees. Other conditions and restrictions do apply, so interested parties should read the Red Mango Franchise Disclosure Document (FDD) for full details. The application to receive the FDD can be found at www.redmangofranchising.com."
"Red Mango has enjoyed enormous growth in recent months and the interest to join our brand has exploded," said Dan Kim, founder, president and CEO of Red Mango. "Just last week, we announced record franchise agreements which will add 128 more stores to our system from both new and existing franchisees. We look forward to continuing our growth with new franchisees, and we want to ensure that they are as passionate and satisfied with Red Mango as our existing franchisees. The Red's Real Deal program provides new Red Mango franchisees a measure of safety which I hope will encourage qualified entrepreneurs to build their first store and personally experience the excitement of owning and operating a Red Mango store."
About Red Mango:
Founded in 2002 in South Korea, Red Mango opened its first U.S. store in July 2007 in Los Angeles and has since celebrated more than 45 store openings across California, New York, Washington, Illinois, Hawaii, New Jersey, Nevada and Utah. Red Mango serves authentic frozen yogurt that is all-natural, nonfat, certified gluten free and packed with probiotic live and active cultures. Red Mango's frozen yogurt has been certified by the National Yogurt Association's Live and Active Culture Seal for meeting the required criteria for healthy frozen yogurt. Red Mango's investors include CIC Advantage Holdings LLC, a holding company formed by CIC Partners and leading retail and restaurant operators to invest in and add value to multi unit retail companies.