Opens three stores a week; revenues up 135% in last year.
Hamden, CT (PRWEB) October 11, 2005 -- Continuing its meteoric growth of signing an additional 25 new franchisees a month, Edible Arrangements Franchise Group, the leading purveyor of exquisite, hand-sculpted, fresh fruit arrangements that resemble floral bouquets, today announced the signing of its 250th franchise store. The new store is slated to open in New York City’s Greenwich Village by year’s end at a location that is currently being finalized.
The signing marks an important milestone in the company’s growth. Edible Arrangements has been signing an average of 25 franchises a month and opening an average of three stores a week. The company has grown from 100 franchise stores in January 2005 to 250 today. Average annual sales for Edible Arrangements’ stores open more than 12 months are $419,600; year-to-date companywide sales for 2005 are $25.8 million, up from $11 million for the same period in 2004.
Edible Arrangements’ growth has been acknowledged by the franchising community, including being ranked eighth in Entrepreneur Magazine’s “Top New Franchises in 2005” that analyzes companies that have been franchising since 2000. It is based on cumulative scores that factor in the franchise's financial strength and stability, growth rate, system size, number of years in business, length of time franchising and start-up costs.
“We are proud and delighted to welcome the 250th franchise into the Edible Arrangements system,” said Tariq Farid, Founder and CEO, Edible Arrangements Franchise Group. “When we began franchising in 1999, we only envisioned 35 stores opening over five years. Needless to say, we’ve surpassed our initial vision exponentially. We now plan to have 1,000 stores within 10 years as we continue to launch franchises across the U.S. and internationally.”
“We investigated several franchising opportunities and Edible Arrangements impressed us the most,” said Dana Perrone, Edible Arrangements 250th franchisee. “Their concept is well-conceived, consumers respond phenomenally well to their products and their proprietary systems for product and inventory tracking, accounting and supply chain management really take the guesswork out of running a profitable retail store. Moreover, their training and support are first-rate. They’ve been helping us every step of the way.”
“When we began to work with Edible Arrangements it was immediately clear that there were few, if any, concepts in franchising today as well-positioned, as well-supported and as exciting as Edible Arrangements,” said franchising expert, Michael Seid, founder and managing director of Michael H. Seid & Associates, based in West Hartford, Conn. “There simply is no other consumer brand that is better positioned to maximize sales in the consumer or corporate gift segment for their franchisees.”
“An Edible Arrangements franchise is an excellent financial opportunity for those with extensive business experience or those with very little. Our average sale and profit margins are substantially higher than typical franchises and less labor-intensive. Moreover, we provide a set of proven systems and technologies that we developed in-house and use in our corporate store every day. They are driven by experience, not theory,” said Farid.
“Of course, it doesn’t hurt that our products are uniquely healthful, wholesome and very much in demand. In a sense, they sell themselves,” he added.
Founded in 1999 and headquartered in Hamden, Conn., Edible Arrangements Franchise Group is the leading purveyor of luscious fresh fruit “bouquets” that artfully resemble their floral counterparts. The company’s corporate store and rapidly expanding franchises hand deliver these wholesome and festive products across the U.S. and Canada. Arrangements can be ordered through the company’s Web site, by telephone or at one of its stores. The company was ranked eighth in Entrepreneur Magazine’s Top New Franchises in 2005. For more information, please visit www.ediblearrangements.com.
For more information, please contact:
Wendy Marx
203-445-2850
Hanna Lee
212-721-2090
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