Edible Arrangements Experiences Strong Growth in 2009
Fresh Fruit Retail Leader Opens 74 Stores; Signs Agreements for 85+ New Locations
WALLINGFORD, CT --(Marketwire) - Edible Arrangements, the pioneer and leader in hand-sculpted, fresh-fruit arrangements, has experienced strong growth in 2009 with the opening of 74 new stores and franchise agreements for more than 85 locations in the U.S. and internationally. Currently, Edible Arrangements has over 940 locations with the goal to reach 1,000 units by the end of 2010.
In addition to its strong franchise sales, Edible Arrangements also experienced an unprecedented year with double digit growth in the U.S. and Canada. The company's unit growth was concentrated in Texas and the Midwest with stores also opening in California, Massachusetts, Pennsylvania, Virginia along with other markets across the country. In addition, development agreements have been signed with new and existing franchisees for the opening of more than 85 stores in the U.S., Rome, Hong Kong and Turkey.
"We celebrated our 10-year anniversary in 2009, and it is remarkable to see how much the company has grown in the past decade, particularly in a year in which many businesses struggled, our company was still able to prove its universal and widespread appeal to both franchisees and consumers," said Tariq Farid, Founder and CEO, Edible Arrangements, Inc. "Our proven franchise system and healthful high-quality products are the keys to our success, and we look forward to continuing to grow and evolve our company and brand in 2010."
As part of the company's aggressive growth strategy, Edible Arrangements is seeking to add several new development agreements in the Pacific Northwest, Midwest, and other areas of the United States, while expanding its presence to India, Brazil, Mexico, Spain and Canada.
Most recently, Edible Arrangements announced a new enterprise development program and the company's evolution into multi-unit franchising. A central component of the new strategy is Frutation by Edible Arrangements®, a grab-and-go concept paired with the traditional Edible Arrangement concept, offering customers fresh-fruit smoothies and juices, dipped fruit, signature fresh fruit salads and a variety of other fresh-fruit products. To support the national launch of Frutation, Edible Arrangements hired a corporate chef to create new products, new production procedures and new recipes.
"In addition to finding new franchisees in 2010, we are focusing our growth strategy on continuing to grow our existing franchisee base into enterprise multi-unit operators," said Farid. "We've worked to refine our system to enable enterprise multi-unit owners to succeed and hope to work with our franchisees to expand their respective networks this year."
Individuals seeking to own and operate an individual Edible Arrangements' franchise should posses a minimum liquidity of $60,000 and the ability to invest approximately $154,920 - $298,005. Multi-unit store networks, international master franchisee licenses and financing options are also available for qualified applicants.
In 2009, Tariq Farid was the recipient of two Entrepreneur of the Year awards from the International Franchise Association and Ernst & Young in Metro New York. Farid developed and launched Edible Arrangements in 1999 in East Haven, CT after many years in the floral industry. He learned early that corporate support can make the difference between a struggling or thriving franchise. It is for this reason that Edible Arrangements offers its franchisees comprehensive corporate and onsite level training, unparalleled technology, national brand recognition and extensive customer order team support.
Since its inception, Edible Arrangements has earned countless accolades from the industry, including its ranking as first in its category by Entrepreneur Magazine's Annual "Franchise 500" Ranking for the past five consecutive years. In addition, the company has also ranked for six consecutive years in Inc. Magazine's top 5,000 fastest growing privately-held companies.
About Edible Arrangements
Edible Arrangements International, Inc. is the leading purveyor of delicious, high quality, artistically designed, fresh fruit arrangements that are practical and healthy gifts. Founded in 1999 in East Haven, CT by Tariq Farid, Edible Arrangements has been ranked first in its category by Entrepreneur Magazine's Annual "Franchise 500" Ranking for the past five consecutive years. With over 900 locations operating or opening soon worldwide, Edible Arrangements is rapidly expanding across the United States, Canada, Puerto Rico, the United Kingdom, Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Italy, Turkey and Hong Kong.