Dominating the Smoothie Franchise Segment with Purposeful GrowthAuthor: Smoothie King
Thanks to Smoothie King’s robust expansion in 2016, more people around the world – including consumers and entrepreneurs – have the opportunity to be inspired to live a healthy and active lifestyle. Both the number of franchise agreements signed and the number of stores that opened in 2016 surpassed those of 2015.
Smoothie King Growth by the Numbers
In 2016, the brand signed 111 agreements for 171 committed stores, compared to 78 agreements for 152 stores signed in 2015. That’s an increase in the signed agreements figure of 29.7 percent, keeping the company on course to reach the 1,000-store mark by the end of 2017.
In 2016, a total of 100 new stores opened in the United States, an increase of more than 12 percent over the previous year. In all, Smoothie King currently has more than 800 total open units, including two stores abroad in new territories.
“The numbers speak to the success of Smoothie King’s mission of inspiring people all over the world to live healthy and active lifestyles in their communities,” said Wan Kim, CEO of Smoothie King. “The demand for convenient, nutritious and delicious meal replacements continues to grow, providing franchise opportunities to entrepreneurs who want to operate a brand that lines up with their own purpose.”
Warm Growth in Cool Climates
The new domestic stores, which opened in 19 states, are significant as they prove smoothies are in demand year round and in all kinds of climates. Several of the new Smoothie King stores opened in states that experience genuine winter weather with cold temperatures, snow and ice. Among those states are six in the Midwest – Iowa, Illinois, Indiana, Kansas, Missouri and Ohio. Several of the states where Smoothie Kings opened, from Missouri eastward, experienced winter temperatures colder than average in 2014 and 2015.
Smoothie King’s International Appeal
Smoothie King also opened locations in new territories in the Middle East and the Caribbean, affirming the global demand for smoothies is steady and strong. In September, the first of 44 committed stores opened in Dubai, the most populous city in the United Arab Emirates.
The country’s first Smoothie King opened in the BurJuman Shopping District by Al Ghurair Retail, a group that owns commercial enterprises in 20 countries and is a major developer in Dubai. Smoothie King plans to open other locations in the Middle East, including stores in Qatar, Saudi Arabia, Kuwait, Bahrain and United Arab Emirates.
In the Caribbean, the first of four committed stores opened in Trinidad, the larger and more populous island of the two-island nation Trinidad and Tobago, in December. This location joins another regional store in the Cayman Islands to establish a foothold in the Caribbean. The Trinidad store is owned by a husband-wife team who also own other food franchises in Trinidad and Tobago.
Smoothie King: Growth with a Purpose
The expansion and the location of the growth speaks to the demand for smoothies crossing climate and cultural lines. Consumers, wherever they live, are putting greater emphasis on their overall well-being and demanding better-for-you food options without forsaking convenience. Entrepreneurs all over the world are embracing the opportunity to meet the demand and are expanding the Smoothie Kingdom with great strides.
To learn more about the franchise opportunity and become part of an expanding brand, download our Franchise Kit here.