Tropical Smoothie Cafe Announces New Restaurants In Houston
Leading Fast Casual Cafe to Open Three Locations in Market over Next 12 Months
ATLANTA - June 13, 2016 // PRNewswire // - Tropical Smoothie Cafe, the leading fast casual cafe concept known for its better-for-you food and smoothies with a tropical twist, announced today that it will open three new franchised locations throughout the Houston market over the next 12 months. Currently, Tropical Smoothie Cafe has one restaurant in Richmond, Texas, which opened in August 2013.
Local franchisee Vanessa Boles will open Houston's second cafe at 19075 I-45 South, Suite #116 C in Shenandoah this September. Franchisee Jignesh Patel, who owns the Richmond cafe, will open his second location in Katy in January 2017. Additionally, Tropical Smoothie Cafe signed a development agreement with new franchisee Dexter Rivera, who is aiming to open his location in Pearland inSpring 2017.
"Texas is among the nation's leaders in restaurant sales and employment. In fact, the National Restaurant Association projected sales to reach $52.4 billion this year, with 1.3 million Texans employed by the industry. And Houston's restaurant growth is outpacing some of the country's largest cities, including New York, Los Angeles and Chicago. This is an exciting time for us to build our presence inHouston," said Mike Rotondo, CEO of Tropical Smoothie Cafe. "We're thrilled with the brand's growth in the first quarter and are optimistic that the second quarter will be even better as we continue to align ourselves with new franchise partners who share our passion for meeting the rising demand of better-for-you food choices and healthier lifestyles in markets across the U.S."
A restaurant industry veteran, Rivera brings two decades of experience to Tropical Smoothie Cafe. In addition to the variety of food and smoothie choices that Tropical Smoothie Cafe offers its guests, it was the brand's strong corporate culture and franchisee support that attracted Rivera to the concept.
"I'm thrilled to be joining a brand that is dedicated to its customers and to its franchisees," said Rivera. "I've considered many different franchise concepts as a first-time franchise owner, but none like Tropical Smoothie Cafe. The incredible network of franchisees backed by decades of franchise experience, along with the brand's commitment to quality service, made the decision to franchise an easy one for me. I look forward to contributing to the success of the brand inHouston and growing our presence in Texas in the years to come."
Tropical Smoothie Cafe reported its strongest year of growth in 2015 with same-stores sales of 11.25 percent and signed franchise agreements to develop 199 new cafes across the U.S. The brand recently reported its seventh consecutive quarter of double-digit positive comp sales. This year, the food and smoothie franchise plans to exceed 550 restaurants nationwide. The brand currently has franchise opportunities across the U.S. in markets such as Miami,Philadelphia, Boston, Houston, Dallas-Fort Worth, Atlanta and Columbus, among others. By 2018, Tropical Smoothie Cafe plans to have 800 locations open across the U.S.
Tropical Smoothie Cafe is looking to add qualified franchisees to its growing brand. Candidates should have business experience; $125,000 in liquid assets and a minimum net worth of $350,000; and an initial investment of between$210,550 and $478,550. The healthier fast food franchise currently boasts an average unit volume (AUV) of more than $634,000 — the highest in the company's 19-year history — with the top 50 percent reporting an AUV of more than $806,000.
Tropical Smoothie Cafe's aggressive franchise growth is backed by the entrepreneurs at the BIP Franchise Accelerator, a division of venture capital firm BIP Capital, which invested in the brand in 2010. BIP Capital has invested more than $250 million in emerging, high-growth brands across the franchising, software, and technology and consumer products industries. BIP Capital created the BIP Franchise Accelerator to leverage its leadership team's deep franchise experience to help emerging brands accelerate their growth. In addition to Tropical Smoothie Cafe, the BIP Franchise Accelerator's portfolio includes Tin Drum Asian Kitchen, which has grown to 13 locations in Georgia and Florida.
For more information about opening your own Tropical Smoothie Cafe franchise, please visit www.tropicalsmoothiefranchise.com.
About Tropical Smoothie Cafe
Founded in 1997, Tropical Smoothie Cafe is a fast-casual restaurant concept inspiring healthier lifestyles across the country, with 500 locations nationwide. With snack and meal options for any time of day, Tropical Smoothie Cafe serves smoothies, salads, tacos, wraps, sandwiches, and flatbreads. The rapidly growing franchise has received numerous accolades including being ranked on Entrepreneur's 2016 Franchise 500, 2015 Fast Casual Top 100 Movers and Shakers, Franchise Times' Top 200+ and Nation's Restaurant News' 2015 Top 200. Tropical Smoothie Cafe is seeking qualified franchisees to expand throughout the United States in markets such as Miami, Philadelphia, Boston, Houston, Dallas-Fort Worth, Atlanta and Columbus, among others.
About the BIP Franchise Accelerator
The BIP Franchise Accelerator is a division of BIP Capital, an Atlanta-based venture capital firm with over $250 million invested in over 26 companies in emerging, high-growth brands across the franchising, software, technology and consumer products industries. BIP Capital created the BIP Franchise Accelerator to leverage its leadership team's deep franchise experience to help emerging brands accelerate their growth. The BIP Franchise Accelerator not only provides investment capital, but also uses proven strategies to help companies evolve into mature, thriving brands. From fast casual and QSR concepts to service brands and healthcare and education concepts, the BIP Franchise Accelerator has invested in emerging brands driven by people with an entrepreneurial spirit that have a great growth potential. Its current portfolio includes Tropical Smoothie Cafe, Tin Drum Asian Kitchen and BIP Franchise Finance. For more information on BIP Franchise Accelerator, visit www.bipfranchiseaccelerator.com.
SOURCE Tropical Smoothie Cafe