Impressive Third Quarter Growth Underscores Momentum for Smoothie King
DALLAS, Oct. 6, 2021 /PRNewswire/ -- After a record breaking second quarter which brought a company milestone of 34% same-store sales increase, Smoothie King experienced a 5% sales increase in the third quarter of 2021 on top of an extraordinary 14.8% sales increase in the third quarter over 2019. The brand ended the third quarter positive 18% year-to-date. Further solidifying its position as the leader in the smoothie category, Smoothie King opened 21 new stores for the quarter totaling 92 new-store openings year-to-date. In addition to strong sales numbers the brand has welcomed 26 new domestic franchisees this year and signed 158 domestic store commitments to date. Looking ahead, the world's largest smoothie brand expects a total of approximately 240 new store commitments by the end of 2021.
Smoothie King also achieved a record $834,562 average unit volume (AUV) for the top 25% of franchised units in operation. This store-level success is partly attributed to the strong digital performance the brand has seen which includes the healthy rewards app, online ordering for pickup and delivery, multiple third-party delivery partners, and the introduction of tablet devices for drive-thru locations. The brand has seen faster, more accurate and friendlier service which has clearly translated into even stronger unit-level performance. For the first time, Smoothie King also reported an impressive store-level EBITDA at 20%. This is a result of the implementation of store level tools to help franchisees control their costs as well as the work done to lower food costs during this challenging time. This milestone further proves the brands dedication to store level profitability and to their franchisee's growth.
"In the wake of the global health crisis we are facing, inspiring people to live healthy and active lifestyle has proven to be instrumental to our growth and has helped introduce our brand to new guests," said Wan Kim, CEO and Chairman of the Board of Smoothie King. "As we head in to 2022 our focus is on helping our franchisees attain higher unit volume and EBITDA through operational efficiency and new technology and to stay dedicated to our mission and vision through new product launches and system-wide initiatives. I am proud of my team and our franchisees hard work getting to where we are today and look forward to the future growth of Smoothie King."
Smoothie King also ranked 135 on the Franchise Times Top 400 List climbing 30 spots since 2020 which lists the largest U.S.-based franchise systems according to global, system-wide sales. This year has brought multiple other accolades for the brand including ranking on Nation's Restaurant News 2021 Top 500 list in addition to being named one of Entrepreneur magazine's fastest-growing franchises in 2021.
"There has never been a better time to invest into a Smoothie King franchise," added Kevin King, Chief Business Development Officer. "The fourth quarter will surely bring more wins for our franchisees and we look forward to finding even more qualified franchise candidates to expand our brand into new and existing markets across the country."
As the world's largest smoothie brand with more than 1,300 stores open, Smoothie King has achieved same-store sales growth for the past 9+ years by delivering masterfully crafted blends that support its guests' healthy and active lifestyles. Get started by visiting www.smoothiekingfranchise.com for more information.
ABOUT SMOOTHIE KING FRANCHISES, INC.
Smoothie King Franchises, Inc., the original U.S. smoothie franchise, is a privately-held, Dallas-based franchise company with over 1,300 locations worldwide. Founded in 1973, Smoothie King has evolved into a lifestyle brand inspiring people to live healthy and active lifestyles via nutritious, great-tasting smoothies. The franchise earned the No. 1 ranking in the smoothie/juice bar category, and No. 19 overall, on Entrepreneur's prestigious Franchise 500 list in 2021. The company also debuted on the "Inc. 5000" list in 2018.
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SOURCE Smoothie King