SUCH REGISTRATION DOES NOT CONSTITUTE APPROVAL, RECOMMENDATION OR ENDORSEMENT BY THE COMMISSIONER OF CORPORATIONS NOR A FINDING BY THE COMMISSIONER THAT THE INFORMATION PROVIDED HEREIN IS TRUE, COMPLETE AND NOT MISLEADING. Watson:"At Tropical Smoothie Cafe, it's our mission to inspire a healthier lifestyle by serving amazing food and smoothies, with a bit of tropical fun. Watson: "I think when taking over any brand where you worked alongside your predecessor, there's a certain level of pressure to continue carrying the torch, but also to make necessary changes to the brand to evolve with the changing economy and consumer trends. Tropical Smoothie Cafe's Profile, Revenue and Employees. Gosh, I would say the first things that come to mind for me are menu innovation and products. As a restaurant executive, hospitality should be in your blood. For more information about owning a Tropical Smoothie Cafe franchise, complete our form! If you dont have a good product, it doesnt matter. A minimum net worth of $350,000, which includes $125,000 in liquid assets; Investment and Fee Structure: Start-up fees: A new Cafe investment is between $198,500 and $543,500. While the pandemic destroyed thousands of restaurants last year, Atlanta-based Tropical Smoothie Cafe had one of its best years to date. And drive their economic engine. From my VP of development officer to today as CEO, Ive been passionate about the brands vision. In that role, he was responsible for all aspects of franchise development, real estate, design and construction and franchise administration and helped grow the system from 265 open units to 725 open units. *$1,009,803 System Wide Average Net Revenues. Tropical Smoothie Caf Income Statement Key Insights-Analysis based off Predecessor 2020-Overall, Tropical Smoothie Caf is a profitable business, with a net income of $7.6 million in 2020. From there, we set up committees, reporting into our TFC, around the major parts of our business, and included more franchisees to provide feedback and work with us on further improving IT, Marketing, Design, and Construction, etc. In a highly competitive segment, we're one of the fastest-growing quick-casual brands, opening 124 new locations in 2019 alone and singing 213 development agreements to open hundreds of businesses over the next few years.". The way [Tropical Smoothie Cafe works in markets], we work the suburbs and the outskirts, and move our way into cities. I try to pass along that spirit and advice to others. If you are a resident of or want to locate a franchise in one of these states, we will not offer you a franchise unless and until we have complied with applicable pre-sale registration and disclosure requirements in your state. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Watson discusses how and why the brand has seen a Q3 same-store sales jump of 19.5% during the pandemic Tropical Smoothie Cafe on franchisee success during COVID-19 | Nation's Restaurant News TropicalSmoothie.com. Were proud to report that as of today, weve donated more than 200,000 smoothies to these hometown heroes, and were not done yet! And those are the most important things that I do.. It is, however, still a hefty financial investment. We find that real fruits, veggies, and juices just taste better.". By year-end 2018 we opened 110 cafes and signed 191 new franchise agreements. 2020, 2019, and 2018 average, median, highest, and lowest net revenues, number of stores, and number and percentage of stores that surpassed the average net revenues in the category for the top 10%, top 25%, . Share Tweet Share Pin. Then we determined two focus areas, giving back to the community and prioritizing support for our franchisees. We gathered that feedback and used it to set goals and action plans for the company. So its got a little bit of indulgence to it. Watson: Our franchisees are the heart of our brand, so we wanted to make sure we were doing everything we could to help them stay afloat through the crisis. We really call Tropical Smoothie Cafe a street corner business. Then we determined two focus areas, giving back to the community and prioritizing support for our franchisees. Richard has served in a franchise operations capacity for more than 20 years with brands such as TCBY, Carvel, and Moes Southwest Grill. The impact of the more formalized committees we have set up, and the close connection I have with TFC has gotten the system more comfortable with my style and thinking, and I believe, since trust is earned, I still have a long way to go, but am off to a good start. . At the start of his career, Michaels ambitious spirit led him to develop a point of sale system, Hot Sauce. Your results may differ. "Our franchisees are the heart of our brand, so we wanted to make sure we were doing everything we could to help them stay afloat through the crisis. Mark serves on the board of the Institute of Certified Franchise Executives. An offering can only be made by prospectus filed first with the Department of Law of the State of New York. Right now we have a BLT quesadilla. The chain plans on opening an astonishing 200 locations this year alone, which will mean it's opening its 1000th restaurant. If its not run-of-the-mill bland food, we want to bring a little bit of a culinary experience to quick casual, and still provide convenience, and value, and all those kinds of things. Previously, Cheryl held a 17-year tenure with Popeyes, during which she served as Vice President of Franchise Development, Vice President of Development Strategic Planning, and Director of Investor Relations and Finance. With extensive experience in the food service industry, Paul comes to Tropical Smoothie Cafe from Popeyes, where he served as the Chief Accounting Officer and spent nearly two decades working in the brands financial and accounting departments. How is taking the reins of an existing company different than being part of a startup or a founder? It's tropic time. I was born with a strong work ethic. "I've been with Tropical Smoothie since 2010 and was [first] our vice president of franchise development," he told Mashed. "Like I said, I was very fortunate to have had already developed relationships with our franchise community prior to becoming CEO. Building off this momentum, in 2019, we celebrated the openings of our 750th and 800th locations, but taking over during such a monumental time for our brand certainly brought opportunities to improve. Please give our readers the "Elevator Pitch" for Tropical Smoothie Cafe? Here's how CEO Charles Watson did it. So another boldly flavored product, thats been a number one seller for gosh, probably five, six years at this point. Areas we wanted to attack immediately with our rapid growth were direct franchisee support as well as technology support and menu innovation. Previously with Papa Johns International as the Vice President, Global Digital Technology, Michael is a seasoned technology executive with vast engineering and operations expertise, leadership, and a deep understanding of digital technology and guest experiences. 770-580-2333 Watson: "I'm a huge advocate for franchise advisory councils, specifically when nearly 60% of all franchise agreements at Tropical Smoothie Cafe come from existing franchisees. I was originally a quarterback in high school and had my heart set on the same position for college. From there, we set up committees, reporting into our TFC, around the major parts of our business, and included more franchisees to provide feedback and work with us on further improving IT, Marketing, Design, and Construction, etc. Building off this momentum, in 2019, we celebrated the openings of our 750th and 800th locations, but taking over during such a monumental time for our brand certainly brought opportunities to improve. Show all. Currently, the following states regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota (File No. Charles Watson, CEO of Tropical Smoothie Cafe, LLC, said, "It's inspiring to be part of the growth that Tropical Smoothie Cafe has . It is for information purposes only. charles watson tropical smoothie cafe. So theres a lot of involvement. Charles recently joined his team in celebrating the opening of the 1,000th Tropical Smoothie Cafe location. I think the biggest shift will take place for those restaurants that can't be open right now. I dont believe that the people side of our business is dead.. Tropical Smoothie Cafe has deals in place . Richard Key serves as the Chief Operations Officer, responsible for overseeing the operations team and its support and training of the Tropical Smoothie Cafe franchise community. Weve been in partnership with them for over 10 years now. Now were really taking the lead from our franchisees and building out DMAs organically from outside them. Ivebeen with Tropical Smoothie since 2010 and was [first] our vice president of franchise development, he told Mashed. It hopes to keep all its new customers. I write about the franchising, restaurant and food services industry. Watson:"When COVID-19 struck the restaurant landscape in mid-March, we closed all dining rooms and shifted our focus to drive-thru, curbside pickup, and delivery where available. I think they can be used throughout the day and utilized in guests diets. And so I think were right on pace. Atlanta, GA. Here's how CEO Charles Watson did it. F-9894), New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington and Wisconsin. New York State Disclaimer: This advertisement is not an offering. Tropical Smoothie Cafe CEO Charles Watson has been with the company for more than 10 years and is passionate about supporting the franchise systems sustainable growth, the success of its franchisees, and the execution of the brands Inspire Better mission. That created a kind of blueprint that served as the foundation for me to take the reins and lead the company the way I felt was best. In this role, he is responsible for the brand's strategic vision and overall franchise performance. My predecessor did a great job, so most of the hesitancy candidly was, "will this guy be as good, will we have the same amount of success?" city of san diego street classification map; blackrock russell 2000 index fund g1; 3610 atlantic ave, long beach, ca 90807; eternal water heater lawsuit; A series of fortunate events July 20, 2020. And now is the right time to buy." . Prior to joining Tropical Smoothie Cafe, Richard was the Vice President of Operations, West Division, for Papa Murphys International where he was responsible for field operations and marketing. Excludes non-traditional locations and Restaurants that were not open for at least 357 days in 2021. Tropical Smoothie Cafe has deals in place for hundreds more locations in the pipeline and is on track to meet Charles' aggressive goal to hit 1,500 locations by the end of 2024. An offering can only be made by prospectus filed first with the Department of Law of the State of New York. So that was helpful! But the Mango Berry Cosmo has overtaken it. Beyond just smoothies, we serve better-for-you wraps, sandwiches, and flatbreads, and pride ourselves on living at the "intersection of taste, convenience, and hospitality." Tropical Smoothie Cafe. It is for information purposes only. And at Tropical Smoothie Cafe, we really focus on the fresh ingredients. Prior to being named CEO in 2018, Charles served as the chief development officer for Tropical Smoothie Cafe. Costs can vary by location and the average cost is $370,000. Complete the form or call 770-821-1928, and a Tropical Smoothie Cafe franchise development leader will reach out to you with more information. What is something you wish more people knew about the chain and its products? So our franchisees, if theyre staying on top of their Tropical Smoothie Cafe, theyve got to own that three to five mile radius around there. And so were going to really get to focus there. The best smoothie in terms of sales actually going on right now is our Mango Berry Cosmo. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. We look forward to realizing Charles vision for the company.. The offering is by prospectus only. Occhiogrosso: What were the one or two unique challenges that you faced upon taking over as CEO? At the start of his career, Michaels ambitious spirit led him to develop a point of sale system, Hot Sauce.