Looking Ahead at 2017: Plans to Expand the Smoothie Kingdom
Propelled by the momentum of significant growth in 2016, Smoothie King has begun 2017 making strides toward its goal of opening 1,000 stores by the end of the year. The brand that makes “smoothies with a purpose” has plans to provide entrepreneurs with opportunities to expand in existing markets and to open stores in brand new markets before the year is out.
A Springboard into the Future
Smoothie King inked 111 domestic franchise and development agreements in 2016, which will add another 172 stores to the growing 850-unit system. That amounts to a 29.7 percent increase in signings over 2015’s figures. Smoothie King also opened 100 new domestic franchise stores last year, a 12 percent increase over 2015.
In addition, Smoothie King also opened two stores internationally, including locations in new territories in the Middle East and the Caribbean. In September, the first of 44 committed stores opened in Dubai, the most populous city in the United Arab Emirates. Another opened on the Caribbean island nation of Trinidad and Tobago.
While Smoothie King grew in number, it also experienced impressive revenue growth. The accomplishment begs the question: How do you follow up such a successful year?
“This is the kind of challenge you want to face as a franchisor,” said Wan Kim, CEO of Smoothie King. “It means we’ve perfected our systems and can enjoy watching the brand grow. But, we’re not going to rest on our laurels, because when you do that, you lose momentum. So, we have to ask, ‘How do we top ourselves?’ You use the same formula, but you do it more and in new markets. Ultimately, we have to pursue our purpose.”
1,000 Stores in 2018
Smoothie King’s recipe for success still remains as effective as it’s ever been. More consumers are demanding better-for-you beverages and tasty meal replacement options. Smoothie King is meeting these demands with a large variety of smoothie offerings and therefore becoming an integral part of health and fitness plans. By doing this, Smoothie King is cultivating new customers and fueling continued brand growth.
Keeping operations simple for franchisees will also help grow the brand. The right entrepreneurs will recognize simplicity sets them up for success and be attracted to Smoothie King’s consistency, quick speed of service and efficiency.
Smoothie King has its sights set on 16 domestic markets in 2017:
- Austin, Texas
- Baltimore, Maryland
- Chicago, Illinois
- Charlotte, North Carolina
- Cincinnati, Ohio
- Columbus, Ohio
- Dallas, Texas
- Denver, Colorado
- Indianapolis, Indiana
- Jacksonville, Florida
- Miami, Florida
- New York
- Orlando, Florida
- Phoenix, Arizona
- San Antonio, Texas
- Washington D.C.
Internationally, Smoothie King plans on building upon the success it experienced in the Middle East last year by focusing on Bahrain, Kuwait, Qatar, Saudi Arabia and the United Arab Emirates.
“Opening 1,000 stores around the globe by early 2018 is clearly in sight,” added Wan. “We’ve got the product, the business model, the finely honed systems, the brand recognition and the momentum to surpass 1,000 locations in 2018.”
To learn more about the franchise opportunity and become part of an expanding brand, download our franchise kit here.