Edible Arrangements Signs 1,000th New Location
Fresh Fruit Retail Leader Shows Strong Growth in 2010 and Opens 93 Stores Worldwide
WALLINGFORD, Conn., Jan. 24, 2011 // PRNewswire // -- Edible Arrangements, the pioneer and leader in hand-sculpted, fresh-fruit arrangements, recently signed its 1,000th new store franchise agreement, marking a significant milestone for the company. As part of its strong growth in 2010, Edible Arrangements opened 84 stores in the U.S., nine internationally and signed 123 new store commitments. In addition to its strong franchise sales growth, Edible Arrangements also recorded a double digit percent increase in same-store sales compared to the same period last year.
"We started franchising in 2001 and the continuous growth of Edible Arrangements has been very exciting. We are thrilled to have met our goal of signing our 1,000th store before year's end," said Tariq Farid, Founder and CEO, Edible Arrangements, Inc. "Our proven franchise system, healthful high-quality products and our franchisees are the keys to our success. We look forward to evolving our brand and company further in 2011."
Over the next several months, stores are scheduled to open in San Francisco, Massachusetts, North Carolina and Utah. International locations expected to open this quarter include Abu Dhabi (UAE), Al Ain (UAE), Doha (Qatar), Mumbai (India), Hong Kong, Al-Khobar (Saudi Arabia), Ankara and Istanbul (Turkey), Amman (Jordan) and Rome (Italy).
This year the company's growth was concentrated in Florida, North Carolina, Pennsylvania, Virginia, Texas, and the San Jose /San Francisco market along with other markets around the country. As Edible Arrangements seeks to build on its 2010 success, the company is seeking to add several new development agreements in the state of Minnesota, Los Angeles, CA; New York, NY; Marin County, CA; Washington D.C. and other areas of the United States, while expanding its presence to China, Japan and South America. Currently, Edible Arrangements has over 915 open locations and is now available to consumers in 11 countries outside the United States and Puerto Rico.
Edible Arrangements expanded its product line in 2010 to include more male-focused items such as fruit bouquets featuring licensed Harley-Davidson logos and NASCAR drivers and logos. A Heels for Healing Bouquet™ was also introduced in support of breast cancer awareness, and the company extended their holiday and seasonal line with 12 new arrangements in a variety of sizes and price points debuting this year.
"In addition to finding new franchisees in 2011, we are continuing to focus our growth strategy on growing our existing franchisee base into enterprise multi-unit operators," said Kamran Farid, Co-Founder and COO.
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. 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 and was most recently ranked ninth on Forbes "Top Franchises to Start for the Money."
About Edible Arrangements
Tariq Farid developed and launched Edible Arrangements in 1999 in East Haven, CT, after many years the floral industry. Edible Arrangements International, Inc. is the leading purveyor of delicious, high quality, artistically designed, fresh fruit arrangements that are practical and healthy gifts and centerpieces for everyday occasions and events. Edible Arrangements stores are located in 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 ediblearrangements.com.
All franchise offerings are made only by Franchise Disclosure Document.
SOURCE Edible Arrangements