ATLANTA, Sept. 11, 2017 /PRNewswire/ -- Tropical Smoothie Cafe, the leading fast casual cafe concept known for its better-for-you food and smoothies with a tropical twist, announced today its aggressive franchise development plans for Philadelphia and is seeking qualified entrepreneurs to open new restaurants throughout the market. To kick off the brand's expansion efforts, CEO Mike Rotondo will be hosting an informative 'Meet the CEO' event at Tropical Smoothie Cafe, located at 1600 North Broad Street in Philadelphia, on September 27th at 7 p.m. The event will offer interested prospects an opportunity to learn more about franchising opportunities with the leading fast casual brand, which has achieved compounding success and substantial nationwide growth over the past several years. Attendees can also participate in a raffle for a chance to win tickets to an upcoming Philadelphia Eagles game in addition to enjoying free food and smoothie samplings throughout the event.
"The strength of our franchisee network coupled with our desire to provide unparalleled service and high-quality food has led to an outstanding track record of success," said Mike Rotondo, CEO of Tropical Smoothie Cafe. "With our existing restaurants in the Northwest consistently performing well, we are excited to build on this momentum as we continue to establish the brand as an industry leader in the fast casual segment. The success achieved in our 20th year showcases the potential for rapid growth and we're eager to introduce Tropical Smoothie Cafe to prospective franchisees in the Philadelphia area and beyond."
Growth efforts in Philadelphia were fueled by Tropical Smoothie Cafe's accelerated development plans in 2017. On the heels of the company's 20th anniversary, the brand has experienced an impressive surge in nationwide expansion, with over 100 franchise agreements signed to-date this year and an ultimate goal of opening at least 100 cafes by the end of 2017. Located in the tri-state area, Philadelphia provides an appealing backdrop for business development. With a rising demand for excellent quality of life in the City of Brotherly Love, Tropical Smoothie Cafe attracts a wide range of customers by offering a variety of better-for-you options. With over 950,000 businesses in operation and more than 10 higher education institutions located in and around the city, Philadelphia is home to an elite and experienced workforce that is continuing to grow.
Tropical Smoothie Cafe currently has franchise opportunities across the U.S. in markets such as Indianapolis, Nashville, Houston, Dallas, Cincinnati and Minneapolis, among others. 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 $222,770 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.
RSVP to the 'Meet the CEO' event in Philadelphia on September 27th by visiting www.tropicalsmoothiecafe.com/philadelphia. For more information about opening your own Tropical Smoothie Cafe franchise, please visit www.tropicalsmoothiefranchise.com.
About Tropical Smoothie Cafe
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. Tropical Smoothie Cafe is seeking qualified franchisees to expand throughout the United States in markets such as Indianapolis, Nashville, Houston, Dallas, Cincinnati and Minneapolis, among others.
About the BIP Franchise Accelerator
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