October 16, 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 the opening of its newest franchised location in Cypress, Texas. Located at 28610 US-290, the new cafe marks the brand's 26th restaurant in the state and signifies its explosive growth and aggressive development efforts in Texas, with two additional cafes slated to open in Frisco and Carrollton this year. Tropical Smoothie Cafe continues to experience a surge in franchise development fueled by its ongoing success, with the company reporting comp sales exceeding 26 percent over the last three years.
"Houston has proven to be a prime market for Tropical Smoothie Cafe, with the success of our existing restaurants in the region propelling our continued expansion efforts in Texas," said Mike Rotondo, CEO of Tropical Smoothie Cafe. "Over the past several years, the brand has emerged as a leader in the fast casual segment and the fact that we've already opened more than 50 new locations this year further emphasizes our unstoppable momentum. We are thrilled to announce the opening of our new Cypress location and look forward to serving our better-for-you food and smoothie offerings to the vibrant Houston community."
The new Cypress café is owned and operated by first-time franchisees Binu and Jagriti Agrawal of AVA United, LLC. The Agrawals spent decades working as an IT consultant and licensed pharmacist before venturing into the restaurant industry to open their own business, something they always dreamed of doing. After learning of the company's remarkable success over the past several years, the husband-and-wife team landed on Tropical Smoothie Cafe. Coupled with its unparalleled service and innovative products, it was any easy decision for them to come to.
"There are countless fast casual franchise opportunities available, but when we were introduced to Tropical Smoothie Cafe, we knew that this was the type of concept we wanted to bring to our community," said Binu Agrawal. "As first-time business owners, we're proud to be part of such a reputable brand and thrilled to be a part of its expansion in Houston."
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.
SOURCE Tropical Smoothie Cafe