Leading Fast Casual Concept Welcomes New Chief Marketing Officer, General Counsel, Chief Financial Officer, Senior Vice President of Operations and Vice President of Franchise Development Strategy
October 09, 2017 // Franchising.com // ATLANTA - Tropical Smoothie Cafe, the leading fast casual cafe concept known for its better-for-you food and smoothies with a tropical twist, announced today it has appointed five industry veterans to the company’s corporate leadership team: Rob Collins as Chief Marketing Officer, Pete Ward as General Counsel, Paul Marsden as Chief Financial Officer, Jaime Denney as Senior Vice President of Operations and Cheryl Fletcher as Vice President of Franchise Development Strategy.
Over the last several years, Tropical Smoothie Cafe has experienced tremendous success and nationwide expansion, reporting comp sales exceeding 26 percent over the last three years. Additionally, the company has signed 140 new franchise development agreements and opened more than 50 new locations to-date in 2017. As a result of this significant growth, Tropical Smoothie Cafe is investing in its corporate leadership to accelerate this momentum and position the brand for further success.
“Our talented staff is the backbone of Tropical Smoothie Cafe and a huge component of our ongoing success. We know that an investment in our leadership is an investment in our future, and have no doubt that the expertise and knowledge these exceptional industry veterans bring will be tremendous assets as we continue taking the brand to new heights,” said Mike Rotondo, CEO of Tropical Smoothie Cafe. “Our consistent sales and record-high average unit volume have established Tropical Smoothie Cafe as one of the strongest concepts in the fast casual segment today and with our new additions, we’ve cultivated a best-in-class leadership team to carry out our projected future success.”
Tropical Smoothie Cafe’s new executive team members include:
By 2020, Tropical Smoothie Cafe plans to have 1,000 stores open across the U.S. The food and smoothie franchise 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 $220,770 and $525,400. The better-for-you food franchise currently boasts an average unit volume (AUV) of more than $662,000 - the highest in the company's 20-year history - with the top 50 percent reporting an AUV of more than $846,000.
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 11 locations in Georgia.
For more information about Tropical Smoothie Cafe, please visit www.tropicalsmoothiecafe.com.
Celebrating its 20th anniversary in 2017, Tropical Smoothie Cafe is a fast-casual restaurant concept inspiring healthier lifestyles across the country, with more than 600 locations nationwide. With snack and meal options for any time of day, Tropical Smoothie Cafe serves better-for-you smoothies, salads, wraps, sandwiches, and flatbreads. Upgraded app technology and enhanced mobile ordering capabilities further elevate the digital and dine-in cafe experience and emphasize the brand’s focus on convenience. The rapidly growing franchise has received numerous accolades including being ranked on Entrepreneur's 2017 Franchise 500, 2016 Fast Casual Top 100 Movers and Shakers, Franchise Times' Top 200+ and Nation's Restaurant News' 2016 Top 200.
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.
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SOURCE Tropical Smoothie Cafe