March 02, 2017 // Franchising.com // St. Augustine, Fla. – The Spice & Tea Exchange®, a gourmet, experience-based franchise, has been recognized in the annual Entrepreneur Franchise 500, breaking into the top 50 percent with a No. 240 ranking. The news comes after a year of significant change for the growing brand, proving the success of newly implemented programs, initiatives and executive leadership.
The Spice & Tea Exchange concept offers an extensive selection of spices, exclusive hand-mixed blends, naturally-flavored sugars, salts and exotic teas from around the world to professional and home-chefs alike. Moving up 172 spots in the Entrepreneur Franchise 500 ranking from 2016’s ranking at No. 412, The Spice & Tea Exchange was listed in the top five food retail franchise concepts. The impressive jump was not only a result of opening nine new locations, but the positive store sales numbers achieved over the course of the year, with some stores reporting a 30 percent year-over-year revenue increase.
To facilitate continued growth and innovation in the new year, The Spice & Tea Exchange implemented a progressive new leadership team in the summer of 2016, appointing Amy Freeman as CEO and Penny Rehling as COO. Freeman and Rehling then brought on franchisee Stefan Pickerel as Corporate Chef, a newly created role designed to help enhance the in-store educational experience for guests and the company’s mission of helping customers “create and share the experience of a more flavorful life.”
“The Spice & Tea Exchange is in a state of continuous change, as we’re endlessly striving to find new ways to better serve both our franchisees and customers,” said CEO Amy Freeman. “With a hungry new corporate team leading the way, I’m eager to watch this year’s dreams for the company finally become reality.”
The brand plans to continue its positive growth trajectory through 2017 with the goal of opening at least five new locations in diverse markets. Eying the Southwest and Rocky Mountain regions for development, the brick-and-mortar retailer is planning to break into new markets across the country.
In addition to plans for expansion, the system is working to bring new initiatives into retail locations to deepen the connection between customers and the brand. Chef Pickerel is currently developing a new line of products for The Spice & Tea Exchange to help engage and educate less-experienced cooks. These new products will be supported by unique recipes, video demonstrations and “tips & tricks” for the kitchen.
For more information about The Spice & Tea Exchange, visit http://www.spiceandtea.com/.
The Spice & Tea Exchange® was founded in 2008 with a vision to create a one-of-a-kind retail shopping experience. The company has 50+ franchise stores across the United States, providing guests with more than 140 spices, 85 exclusive hand-mixed blends, over 30 exotic teas, naturally-flavored sugars, salts from around the world, gourmet gifts and accessories. For more information, visit https://www.spiceandtea.com/. For franchising information, visit http://franchise.spiceandtea.com/.
Fishman Public Relations
SOURCE The Spice & Tea Exchange®