Edible Arrangements Signs Master Franchisee Agreement in Jordan
New Franchisee to Open Six Locations; Company Expands International Presence to 13 Countries
WALLINGFORD, CT - (Marketwire) - Edible Arrangements, the pioneer and leader in hand-sculpted, fresh fruit arrangements, announced today the signing of a Master Franchisee agreement with Raed Al-Mustafa for the development of six stores throughout Jordan. The first location is expected to open in 2011 in west Amman. With this agreement, Edible Arrangements is now available to consumers in 11 countries outside the United States and Puerto Rico.
A native of Jordan, Al-Mustafa resides in Richmond, VA and has extensive experience in the retail and hospitality industry. Currently, he owns a temporary staffing agency in the states and manages a hotel in Jordan. He will relocate back to Jordan with his family for several years to oversee the development of Edible Arrangements abroad.
"We are delighted to be expanding our international presence to Jordan and welcome Raed into our system," said Tariq Farid, CEO and Founder, Edible Arrangements, Inc. "We now have 17 international stores open and our growth to new cities around the world would not be possible without our master franchisees. We're confident Raed will be a great ambassador for our brand and wish him the best of luck as he grows his enterprise."
Earlier this month, the company opened its newest international location in Istanbul, Turkey marking the ninth international opening thus far in 2010. Stores have also recently opened in the countries of Kuwait, Bahrain, and Saudi Arabia and in Rome, Italy. Over the next several months stores are scheduled to open in Abu Dhabi (UAE), Al Ain (UAE), Doha (Qatar), Jeddah (Saudi Arabia) and Mumbai (India). During the first half of 2010, Edible Arrangements opened 50 new locations worldwide and signed 71 new development commitments including a 20-unit agreement in the Republic of India.
"When our son was born we received an arrangement as a gift and I was enamored with the concept of beautifully arranged fruit designs," said Al-Mustafa. "I feel passionate that the consumers in Jordan will embrace Edible Arrangements and I'm excited to launch a new, ground-breaking business in my native country."
As part of its aggressive growth strategy, Edible Arrangements is still seeking master franchisees to expand the company's international presence. Individuals seeking to own and operate an individual Edible Arrangements franchise should possess a minimum liquidity of $60,000 and the ability to invest approximately $147,000 - $261,000. Multi-unit store development plans and financing options are also available for qualified applicants.
Tariq Farid developed and launched Edible Arrangements in 1999 in East Haven, CT, after many years in the floral industry. His belief that ongoing corporate support makes the difference between a struggling or thriving franchise is the reason that Edible Arrangements offers its franchisees comprehensive corporate and onsite training, unparalleled technology, daily store support and national brand recognition marketing programs.
Since its inception, Edible Arrangements has earned countless accolades from the franchise industry, including its ranking as first in its category by Entrepreneur Magazine's Annual "Franchise 500" Ranking for the past five consecutive years and the winner of the ICSC's 2010 Hot Retailer Award. In addition, the company has also ranked for seven 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 980 locations operating or opening soon worldwide, Edible Arrangements is rapidly expanding across the United States, Canada, Puerto Rico, Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Bahrain, Italy, Turkey, Hong Kong, India and Jordan. Customers may order arrangements by telephone at 1-877-DO-FRUIT, at one of the company's retail stores, or on-line at www.ediblearrangements.com.
All franchise offerings are made only by Franchise Disclosure Document.