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%, . Charles Watson was named CEO in December 2018. Charles is a graduate of The Hotel School at Cornell University and also holds a Masters of Business Administration from The Terry School of Business at The University of Georgia. I joined Tropical Smoothie Cafe in 2010 as the Vice President of Franchise Development and, in 2016, became the Chief Development Officer, where I was responsible for all aspects of the development of the brand. Right now we have a BLT quesadilla. wills o' nats last of the summer wine. And we actually drove our comparative sales versus 2019 by 7.5%. Occhiogrosso: What was the condition of the company before you were named CEO? When our franchisees are successful, the brand is successful. The fact that nearly 60% of all new Tropical Smoothie Cafe units are opened by existing franchisees underscores the franchise owner's satisfaction with the concept, the company, and it's leadership. . Over the next five years, our goals are to reach 1,500 cafes open across the U.S., with over 18% profitability for our franchisees on average volumes in excess of $1M, all with very high operational satisfaction for our guests. "I wanted to further instill a franchisee-first mentality. 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. Those franchisees are serving our guests on the front lines I can't run this business without their candid feedback.". Any plans for celebrations and promotions around the quarter-century mark? . Atlanta, GA 30338 At the start of his career, Michaels ambitious spirit led him to develop a point of sale system, Hot Sauce. Were any of the franchisees reluctant to follow the system or embrace a new direction? Now were really taking the lead from our franchisees and building out DMAs organically from outside them. Michael Lapid joined Tropical Smoothie Cafe in October of 2019 to the role of Chief Information and Digital Officer. Michael brings 20 years of foundational IT skills and core functions of digital knowledge critical to shaping our journey to reach guests via innovative technologies. 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. Ill start with the fact that I believe that convenience is king. "Tropical Smoothie Cafe is in a perfect position for the future. The initial investment ranges from $246,500 to $580,500. Charles Watson serves as CEO for Tropical Smoothie Cafe. Interested candidates should have business experience, along with a minimum net worth of $350,000 which includes $125,000 in liquid assets. And so I think thats only going to fuel our continued growth going forward. Resolved: Release in which this issue/RFE has been resolved. Our annual tactics are focused around delivering those results.". Tropical Smoothie Caf works to keep its momentum. Watson has been with Tropical Smoothie Cafe for many years now, so he has seen the growth up close. When Charles Watson became the new Tropical Smoothie Cafe CEO in 2019, . Yes, I am putting my mark on the brand and culture, but I have been around long enough not to stray too far from the DNA of the brand.". Saturday 31st December 2022 (New Year's Eve) 10:00pm til 4:00am. Glad Tidings: Are Seasonal Franchises A Good Investment? Show all. There is no assurance that you will do as well. 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. *. Each year, franchisees complete the Franchise Business Review to essentially grade us here at the Support Center on how we're serving them. So theres a lot of involvement. 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.". This process only helps our individual franchisees and their bottom line, respectively.". The number one seller from a limited time offer perspective has always been our summertime Watermelon Mojito, its incredibly popular, 20 to 25 sales per cafe per day, with that Watermelon Mojito, everyone looks forward to it. In my case, because I already had nearly a decade with Tropical Smoothie Cafe on the franchise development side, I had the unique advantage of personal relationships with our franchise community. Find restaurant equipment and suppliers. Its tough. Successfully taking the reins on an existing franchise company can be a daunting task, but in the case of Charles Watson, he continues, as their franchise website claims, to create waves for a brand that started on the beach. Thats why food and smoothie innovation is so important, its to keep things fresh and to make sure that our guests are getting exciting things to be able to see and try. And it has been a fantastic partnership because we can see the benefit of the dollars that were putting in. "Relationships Rule" is one of our core values, and because of that, people are at the heart of our company. In a franchise system, without broad franchisee buy-in, you cannot move as efficiently and effectively as is required in today's business environment.". Were 100% focused on domestic right now. What was your plan for the first 90 days? We decreased royalties and deployed hyper-local marketing strategies to drive business within a 1to 2-mile radius of cafes. Complete the form or call 770-821-1928, and a Tropical Smoothie Cafe franchise development leader will reach out to you with more information. By Jonathan Maze on Apr. Michael brings 20 years of foundational IT skills and core functions of digital knowledge critical to shaping our journey to reach guests via innovative technologies. The companys goal is to open 1,500 cafes or more by the year 2024. Michael brings 20 years of foundational IT skills and core functions of digital knowledge critical to shaping our journey to reach guests via innovative technologies. This strategic expansion has reinforced its industry-leading position and set the stage for 2023 and beyond. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. We have three tenets in how we serve our Franchise Owners. Tropical Smoothie Cafe Celebrates Milestone Opening of 1,100th Location Mr. Watson was appointed the CEO position of Tropical Smoothie Cafe in December 2018. In July 2018, I was named interim CEO, and then permanent in December 2018.". CALIFORNIA DISCLAIMER: THESE FRANCHISES HAVE BEEN REGISTERED UNDER THE FRANCHISE INVESTMENT LAW OF THE STATE OF CALIFORNIA. With the fast-casual spot gaining more recognition every year, there's a good chance that you won't be seeing your favorite Tropical Smoothie Cafe going anywhere anytime soon . If you dont have a Tropical Smoothie Cafe near your home yet, just wait a bit. What is behind the companys rapid growth and impressive success (which, according to a company spokesperson, sawyear-to-date same-store-sales increase by 38% in recent quarters)? A veteran franchise professional, Charles has worked for several hospitality-related companies including Intercontinental Hotels Group and US Franchise Systems. We want to be an escape for our consumers in this hectic world we live, and an incredible business model for our franchise partners It's an exciting time to be a fast-casual concept within this segment, specifically as the market size of the juice and smoothie bars industry is expected to increase by 2.3% in 2020, reaching nearly $3 billion in revenue across the globe. FDD Talk 2021: Tropical Smoothie Cafe Franchise Review (Financial F-9894), New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington and Wisconsin. The Untold Truth Of Tropical Smoothie Cafe - Mashed.com You know, this is terrible, but Ive never gone through a pandemic before obviously, and I would have to say Im pretty pleased I think we did a very nice job during 2020, we opened 99 new restaurants. I have a little bit sweeter palate. ATLANTA, July 13, 2021 /PRNewswire/ -- Tropical Smoothie Cafe, a leading national fast-casual cafe franchise known for both its better-for-you smoothies and food with a . Oh gosh. Atlanta, GA. Currently, the following states regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota (File No. Today's post focus' on that topic in an interview with Charles Watson, the CEO of Tropical Smoothie Caf. Pete Ward advises Tropical Smoothie Cafe on all legal and business matters, including franchising, real estate, labor and employment, litigation, intellectual property, licensing, and other commercial matters. 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. Fast CasualAn interview with Tim Tang of HughesDecember 2, 2019. 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." 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?" Mark serves on the board of the Institute of Certified Franchise Executives. The Tropical Franchisee Council (TFC) was established in 2018 and has been invaluable for our growth. Southern-style, all the way! New York State Disclaimer: This advertisement is not an offering. This information appears in Item 19 of our Franchise Disclosure Document. In short, franchisees needed to know that there was a formal mechanism of their peers that was constantly feeding back to us at the Support Center. shin numbness after acl surgery; first friday phoenix vendor application; benton high school baseball roster; surprise message link for boyfriend Early in his career, Mark served the franchise industry as a supplier, delivering innovative technology-enabled marketing strategies to help emerging franchise concepts rapidly scale and grow revenue through local-level marketing and sales. "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. In 2018, when I was named CEO, we had more than 720 locations open nationwide. Show them that we care. Unresolved: Release in which this issue/RFE will be addressed. 770-580-2333 Tropical Smoothie Cafe, LLC, 1117 Perimeter Center West, Suite W200, Atlanta, GA 30338. 1117 Perimeter Center West, Suite W200 Well, we just talked about Camp Sunshine and we have a smoothie called the Sunshine Smoothie that is orange and mango based. charles watson tropical smoothie net worth 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. Charles has the tenacity, vision and passion this brand needs to continue our upward trajectory and will ensure the success of our franchisees is at the center of every decision we make, said Scott Pressly, Chairman of the Board, Tropical Smoothie Cafe. Amid all the pandemic news and stories of how the foodservice business is coping with the crisis, I thought I'd attempt to redirect our attention today, even if only for a short while. Tropical Smoothie Cafe drives strong development - Nation's Restaurant News So that was helpful! I and/or my business partner(s) have the following financials, Tropical Smoothie Cafe, LLC NET WORTH * LIQUID CAPITAL/CASH . I would say Im absolutely not opposed to being in all 50 states. We had a high level of mutual trust and respect for each other that existed before I assumed the role of CEO. Charles Watson - Journalism Advisory Board Member - LinkedIn Tropical Smoothie Cafe CEO Charles Watson has been with the company for more than 10 years and is passionate about . Cheryl Fletcher joined Tropical Smoothie Cafe in July of 2017. 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. *$1,009,803 System Wide Average Net Revenues. Although I did not want to focus on COVID-19 in this interview, it is difficult to ignore its impact on the restaurant community as well as franchisees in general. And by the way, thats one way Tropical Smoothie Cafe has grown so big so fast the food. Were finding ourselves in an environment where people want speed. 'The restaurant business has been absolutely decimated': Tropical Charles Watson serves as CEO for Tropical Smoothie Cafe. Chief Executive Officer @ Tropical Smoothie Cafe; . TropicalSmoothie.com. The range is based on estimated costs for End-Cap or In-Line Tropical Smoothie Cafe Restaurants, which include those located in or at strip style retail shopping centers but does not include drive-thrus. Meet Our New CEO Charles Watson - Tropical Smoothie Cafe LLC Charles Watson is currently an Atlanta-based correspondent for Fox News Mediacovering the southeastern portion of the United States. CALIFORNIA DISCLAIMER: THESE FRANCHISES HAVE BEEN REGISTERED UNDER THE FRANCHISE INVESTMENT LAW OF THE STATE OF CALIFORNIA. Early in his career, Mark served the franchise industry as a supplier, delivering innovative technology-enabled marketing strategies to help emerging franchise concepts rapidly scale and grow revenue through local-level marketing and sales. Well, I think the one thing is that smoothies are anytime, theyre not just a breakfast day part. 770-580-2333 Such filing does not constitute approval by the Department of Law. Charles Watson:"Prior to joining Tropical Smoothie Cafe, I worked for several hotel and hospitality-centric companies, including Wyndham Hotels & Resorts, Intercontinental Hotels Group, US Franchise Systems, Inc. and Hospitality Real Estate Counselors. At the start of his career, Michaels ambitious spirit led him to develop a point of sale system, Hot Sauce. In this role, Mark leads brand, marketing, product, and digital innovations core functions of delivering the remarkable guest experience that drives Tropical Smoothie Cafes success. This information appears in Item 19 of our Franchise Disclosure Document. If your Franchised Business includes a drive-thru, the additional expense (including the cost of leasehold improvements, restaurant fixtures and equipment, and other costs) would be approximately $35,000 to $45,000. Paul Marsden oversees development and execution of financial strategies to support the companys business plans. Such filing does not constitute approval by the Department of Law. I think they can be used throughout the day and utilized in guests diets. For many, many years, its been the Bahama Mama. 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. 26, 2021. 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. 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. Based on our fiscal year ending 12/26/2021 and includes 768 Restaurants that were open for at least 12 months as of 12/26/2021. 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. We look forward to realizing Charles vision for the company.. It was not possible for me to get involved in every project so I had to learn to let go and delegate. Paul Marsden oversees development and execution of financial strategies to support the companys business plans. So were a brand thats going to be close to pushing a 3:1 investment ratio. He is directly responsible for selling more than 800 franchises. Tropical Smoothie Cafe Posts Record-breaking Q2 Results The success of our brand is about the talent and drive of our talented executives and Support Center team. Tropical Smoothie Cafe. Opinions expressed by Forbes Contributors are their own. All of this information may look daunting, yet . Call now and speak to a franchise development leader. Tropical Smoothie Cafe Opens 35 New Locations in Third Quarter In this role, Mark leads brand, marketing, product, and digital innovations core functions of delivering the remarkable guest experience that drives Tropical Smoothie Cafes success. Our relationships are founded on trust and respect for the unique talents of our teams, franchisees, and vendors alike. Absolutely. 1117 Perimeter Center West, Suite W200 I think the greatest thing you can do in life is serve others and reap the reward of knowing youve done something good for someone else. My experience with the brand up to that point was beneficial because I was already very immersed in the operations and processes that had contributed to its success at that time. 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. While our projected 2020 growth might take a step back due to the coronavirus, I believe our approach to navigating through this will help us emerge quickly once it passes.". Occhiogrosso: What are some of the additional support initiatives you put in place for your franchise community during the pandemic? We strive to continue to harness these relationships in this way and feel that this approach will continue to fuel our success. Charles is a graduate of The Hotel School at Cornell University and holds a Master of Business Administration from The Terry College of Business at The University of Georgia. And I dont think enough people know that you can go off script to substitute or to take out, etc. Your results may differ. Our company sells about 200 franchises, opens over 120 cafes a year, and has more than 500 locations in the pipeline. Tropical Smoothie Cafe Continues Aggressive Expansion In Texas Call now and speak to a franchise development leader. Charles Watson, CFE - Chief Executive Officer - Tropical Smoothie Cafe Charles Watson, the CEO of Tropical Smoothie Care, was thrilled with his company's performance so far this year . Ivebeen with Tropical Smoothie since 2010 and was [first] our vice president of franchise development, he told Mashed. Its only here until August. While the pandemic destroyed thousands of restaurants last year, Atlanta-based Tropical Smoothie Cafe had one of its best years to date. Cheryl Fletcher, Chief Development Officer of Tropical Smoothie Cafe, shares highlights of her career and leadership style in Franchising. Prior to being named CEO in 2018, Charles served as the chief development officer for Tropical Smoothie Cafe. Prior to being named CEO in 2018, Charles served as the chief development officer for Tropical Smoothie Cafe. Charles Watson, CEO of Tropical Smoothie Cafe was a recent attendee at the Fast Casual Executive Summit in Austin, Texas. And if you do that well, then your top-sellers, sometimes you beat them. As a brand, we strive for excellence in service and creating a culture of hospitality for our business no matter which location you visit, and this year we're prioritizing them even further by enhancing pillars of our hospitality-centric culture and the technology we use to create convenience for our guests in order to reinforce our position as the leader in our segment. In her role as Chief Development Officer, Cheryl drives the brands franchise development sales, real estate and design and construction. Yes, I am putting my mark on the brand and culture, but I have been around long enough not to stray too far from the DNA of the brand.". Cheryl Fletcher joined Tropical Smoothie Cafe in July of 2017. "Like I said, I was very fortunate to have had already developed relationships with our franchise community prior to becoming CEO. However, I ended up a punter at Cornell. I and/or my business partner(s) have the following financials, Tropical Smoothie Cafe, LLC 5 Questions with Tropical Smoothie CEO Charles Watson. Tropical Smoothie Cafe is rounding out yet another year of impressive growth. We can make you any smoothie that you like with our whole ingredients and you can mix and match as you see fit. Pete Ward advises Tropical Smoothie Cafe on all legal and business matters, including franchising, real estate, labor and employment, litigation, intellectual property, licensing, and other commercial matters. So its getting involved with charity partners. An offering can only be made by prospectus filed first with the Department of Law of the State of New York. Michael Lapid joined Tropical Smoothie Cafe in October of 2019 to the role of Chief Information and Digital Officer. And that really got us down this road of: What is our purpose? 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. Players MAY win multiple prizes in a. 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. Pete Ward advises Tropical Smoothie Cafe on all legal and business matters, including franchising, real estate, labor and employment, litigation, intellectual property, licensing, and other commercial matters. So thats what we call Inspiring Better. 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. Tropical Smoothie Cafe on Thursday said it has named Charles Watson its permanent CEO as it works to grow into a $1 billion company within five years. New York State Disclaimer: This advertisement is not an offering. Tropical Smoothie Cafe's Competitors, Revenue, Number of - Owler This process only helps our individual franchisees and their bottom line, respectively.". What were the one or two unique challenges that you faced upon taking over as CEO? Tropical Smoothie Cafe Achieves 11th Straight Year of Positive Same To what factors do you attribute the growth of the chain in recent years, and to its staying power? So its got a little bit of indulgence to it. We set company-wide strategic imperatives around these issues immediately.". ", Charles Watson was named CEO in December 2018. NET WORTH * LIQUID CAPITAL/CASH AVAILABLE FOR INVESTMENT * *All fields required. Costs can vary by location and the average cost is $370,000. And so the way that they impact the communities where they operate is a really big part. 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. Charles recently joined his team in celebrating the opening of the 1,000th Tropical Smoothie Cafe location. Watson: "Tropical Smoothie Cafe is a national fast-casual cafe concept inspiring healthier lifestyles with more than 850 locations in 44 states. We did a fantastic job of that during the pandemic, we gave away a quarter million smoothies to healthcare workers and first-responders. I would say that understanding the viewpoints and drivers of the different stakeholders I was serving was important. One of the biggest expenses seen in the income statement is $12 million spent in . Prior to that, she spent 22 years at BBDO Worldwide, where she was executive vice president and senior director for the global advertising powerhouse, leading campaign strategy and execution for many large national brands. Our annual tactics are focused around delivering those results.". Mark Montini joined Tropical Smoothie Cafe as Chief Marketing Officer in October 2019. It is for information purposes only. Tropical Smoothie Cafe CEO Charles Watson has been with the company for more than 10 years and is passionate about supporting the franchise system's sustainable growth, the success of its franchisees, and the . Tropical Smoothie Cafe Franchise History and Leadership Team We must be able to service the guests who want to be on demand.. Occhiogrosso: Please give our readers the "Elevator Pitch" for Tropical Smoothie Cafe? Charles Watson named Tropical Smoothie CEO The guests who support local businesses in and around their communities are the ones we give the credit to because their loyalty to our cafes is what has ultimately maintained our ability to serve. 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. Tropical Smoothie is a Georgia-based company that owns and operates a chain of restaurants serving smoothies, sandwiches, wraps, salads and soups. 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. Tropical Smoothie Cafe CEO Charles Watson on franchisee success and Knowing that those essential workers are not only in the healthcare fields, weve also extended our giving to grocery store, warehouse and post office employees. If your Franchised Business includes a drive-thru, the additional expense (including the cost of leasehold improvements, restaurant fixtures and equipment, and other costs) would be approximately $35,000 to $45,000. Watson: As you know, the restaurant industry has taken a huge hit. As you know, the restaurant industry has taken a huge hit. *$1,009,803 System Wide Average Net Revenues. Charles is directly responsible for selling more than 800 franchises during his tenure.
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