On the other hand, its hard to beat a plate of spaghetti. I and/or my business partner(s) have the following financials, Tropical Smoothie Cafe, LLC Weve raised almost $7.5 million for them. We have three tenets in how we serve our Franchise Owners. In todays restaurant industry, consumers are always looking for the next trendy item or the next emerging concept. I dont believe that the people side of our business is dead.. Now were really taking the lead from our franchisees and building out DMAs organically from outside them. Passion is key in everything. Whats your favorite cuisine outside of Tropical Smoothie? Your results may differ. 5 Questions with Tropical Smoothie CEO Charles Watson. Tropical Smoothie Cafe has relationships with third-party sources which offer financing to cover the following: startup . 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. 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 . Watson:"As a first time CEO, learning to view the business from a thinking vs. a doing mentality was a challenge I faced. For many, many years, its been the Bahama Mama. Occhiogrosso: What is the mission and goal of the company over the next few years? 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. Its a fantastic organization that weve enjoyed immensely being part of. 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 most common Tropical Smoothie Cafe email format is [first_initial] [last] (ex. Mark serves on the board of the Institute of Certified Franchise Executives. 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. Tropical Smoothie Cafe CEO Charles Watson has been with the company for more than 10 years and is passionate about . Really trying to understand how to see the world through a different stakeholders' eyes is something I still work on.". 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. Without our franchisees, committees, and council, I simply could not do this job. We can go to camp, we can be counselors. He was previously. So again, I mentioned earlier menu innovation. Occhiogrosso: What challenges, if any, did you face in getting "buy-in" from the existing franchise community once you became CEO? Weve done different promotions and summertime promotions to raise dollars for Camp Sunshine and have one more coming up this fall for them. We really call Tropical Smoothie Cafe a street corner business. Weve implemented various franchisee support initiatives, including decreased royalties by 50%, ongoing support with PPP loans and real estate deferrals and abatements, rolling out curbside delivery systemwide, deployed hyper-local marketing strategies to drive business within a 12-mile radius of cafes, among many others. The chain plans on opening an astonishing 200 locations this year alone, which will mean its opening its 1000threstaurant. Prior to that, he was named Chief Development Officer in 2015 after serving as VP of Franchise Development since 2010. Charles recently joined his team in celebrating the opening of the 1,000th Tropical Smoothie Cafe location. My mentality and passion for what I do has remained consistent at every stage of my career, carrying over to when I first started with Tropical Smoothie Cafe in 2010, as the brands first vice president of franchise development. Although COVID-19 has directly impacted our business, some days being down more than 50 percent, we consider ourselves lucky to have a business model that allowed us to easily transition to grab-and-go, curbside, and delivery only. Tropical Smoothie Cafe CEO Charles Watson Tells Us Everything About The Franchise - Exclusive Interview. Mark serves on the board of the Institute of Certified Franchise Executives. Really trying to understand how to see the world through a different stakeholders' eyes is something I still work on.". Charles recently joined his team in celebrating the opening of the 1,000th Tropical Smoothie Cafe location. Then I was our chief development officer and Ive been our CEO for about three years now. I was lucky enough to work with the founders of the business (and still do as they are board members) as well as work under our first CEO, who did an amazing job. Tropical Smoothie Cafe's primary competitors include Del Taco, Jack in the Box, El Pollo Loco and 19 more. Tell us a little about your background before joining Tropical Smoothie? Charles recently joined his team in celebrating the opening of the 1,000th Tropical Smoothie Cafe location. At the start of his career, Michaels ambitious spirit led him to develop a point of sale system, Hot Sauce. Charles recently joined his team in celebrating the opening of the 1,000th Tropical Smoothie Cafe location. Were working on it. So just one shy of 100. Interested Tropical Smoothie Cafe franchise candidates should have business experience, along with a minimum net worth of $350,000, which includes $125,000 in liquid assets. Occhiogrosso: What was the condition of the company before you were named CEO? Resolved: Release in which this issue/RFE has been resolved. Cheryl Fletcher joined Tropical Smoothie Cafe in July of 2017. Management can grow a company without having to invest too much money, and . jdoe@tropicalsmoothie.com), which is being used by 23.3% of Tropical Smoothie Cafe work email addresses. 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. But I would tell you that what has ultimately driven this brand is our franchisees and it is our culture, right? Chief Development Officer since 2016, after serving as VP of Franchise Development since 2010. charles watson tropical smoothie cafe. What are some of your interests outside of work? Theyre not just a snack day part, etc. From my VP of development officer to today as CEO, Ive been passionate about the brands vision. Mark Montini joined Tropical Smoothie Cafe as Chief Marketing Officer in October 2019. Were any of the franchisees reluctant to follow the system or embrace a new direction? The company's goal is to . 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. CEO Charles Watson, along with his leadership team, will be hosting an informative event at the franchised Tropical Smoothie Cafe in Dallas-Fort Worth, located at 760 Airport Freeway, Suite 400 . Then we determined two focus areas, giving back to the community and prioritizing support for our franchisees. And if you do that well, then your top-sellers, sometimes you beat them. 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. Well see, I may have to bring that one back. I am forever grateful to our franchisees, support center team and our Board of Directors for their confidence in me as the leader who can guide Tropical Smoothie Cafe into a new era.. As you know, the restaurant industry has taken a huge hit. Fast CasualAn interview with Tim Tang of HughesDecember 2, 2019. Sure. I worked for my father throughout my teenage years, and those years were my first taste of what the industry was all about. Currently, the following states regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota (File No. "We were in a good place! Were any of the franchisees reluctant to follow the system or embrace a new direction? What was your plan for the first 90 days? Paul Marsden oversees development and execution of financial strategies to support the companys business plans. When Charles Watson became the new Tropical Smoothie Cafe CEO in 2019, the company claimed that it could be looking at $1 billion in sales in the next five years. In response to a question about the culture of Tropical Smoothie Cafe, Watson elaborated: The mission of Tropical Smoothie Cafe is to inspire a healthier lifestyle. Prior to joining Tropical Smoothie Cafe, Pete served as the Deputy General Counsel and Chief Compliance/Risk Officer at Popeyes for over 10 years and has extensive experience handling corporate transactions, both in-house and in private practice. Our franchisees and their teams are the faces community members see daily, and the dedication from them is truly whats given us so much success in recent years. So whats your own personal favorite smoothie? And it has been a fantastic partnership because we can see the benefit of the dollars that were putting in. This information appears in Item 19 of our Franchise Disclosure Document. Maybe you made somebodys day just 1 percent better; you still had a positive impact. 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. Watson: "Like I said, I was very fortunate to have had already developed relationships with our franchise community prior to becoming CEO. Right next to that is our relationship with our Franchise Owners. 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. As a restaurant executive, hospitality should be in your blood. I may have been, in fact, the person responsible for awarding them a franchise! So in cities where you see a lot of brand-awareness and a lot of units, we will have moved into the core center-city demographics, but we typically work outside in. Glad Tidings: Are Seasonal Franchises A Good Investment? Such filing does not constitute approval by the Department of Law. At the start of his career, Michaels ambitious spirit led him to develop a point of sale system, Hot Sauce. 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. It is for information purposes only. The initial investment ranges from $246,500 to $580,500. But the Mango Berry Cosmo has overtaken it. CEO Charles Watson says that the company is "99.9 percent franchise," which means that most of the locations are owned independently. The TFC works hand-in-hand with Tropical Smoothie on all facets of the business from operations, IT, marketing, construction, and beyond, and their genuine feedback continues to establish the open communication we strive for, helping us to enhance our business model on an ongoing basis. Watson: "Tropical Smoothie Cafe is a national fast-casual cafe concept inspiring healthier lifestyles with more than 850 locations in 44 states. menu boasts bold, flavorful smoothies with a healthy appeal, all made-to-order with quality ingredients. Tropical Smoothie Cafe, LLC, 1117 Perimeter Center West, Suite W200, Atlanta, GA 30338. Not the Charles Watson you were looking for? In this role, he is responsible for the brand's strategic vision and overall franchise performance. So thats always up there. Be sure that you have a minimum net worth of $350,000 and $125,000 in liquid assets. And so thats one of my favorites. ", Charles Watson was named CEO in December 2018. A veteran franchise professional, Charles has worked for several hospitality-related companies including Intercontinental Hotels Group and US Franchise Systems. Were finding ourselves in an environment where people want speed. 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. 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. Prior to being named CEO in 2018, Charles served as the chief development officer for Tropical Smoothie Cafe. *$1,009,803 System Wide Average Net Revenues. Here's how CEO Charles Watson did it. 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. Paul Marsden oversees development and execution of financial strategies to support the companys business plans. Absolutely. Atlanta, GA ( RestaurantNews.com ) Tropical Smoothie Cafe, a leading national fast-casual cafe franchise known for both its better-for-you smoothies and food with a tropical twist, continues its . Because 99% of Tropical Smoothie Cafe's system is franchisee-owned and operated, it was my goal to maintain consistency for them and move the company forward in the right direction, with a lot of reverence and respect for the past. Ivebeen with Tropical Smoothie since 2010 and was [first] our vice president of franchise development, he told Mashed. 770-580-2333 The role employees play in setting the customer experience in the restaurant. 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. NET WORTH * LIQUID CAPITAL/CASH . Total revenues were $58 million while expenses were only $41 million, indicating a healthy profit margin of around 30%. Watson has more than 10 years of experience with Tropical Smoothie Cafe and led our franchise development efforts since 2010. 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. Charles Watson has been the CEO since . And it has also driven franchise development and growth, so more units coming out. A presentation for a board is focused on very different things than a franchisee roadshow. Such filing does not constitute approval by the Department of Law. It is, however, a "darn good chaser," he said and . 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?" The success of our brand is about the talent and drive of our talented executives and Support Center team. Tropical Smoothie Cafe's Profile, Revenue and Employees. "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. An offering can only be made by prospectus filed first with the Department of Law of the State of New York. 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. So more knowledge about our great food offerings is something that I would change a little bit. Join our Franchise Family. Its in Casco, Maine, Camp Sunshine. We find that real fruits, veggies, and juices just taste better.". 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. I may have been the smallest employee there (I had to stand on a tub used for busing tables just to reach the sink) but I had the biggest ambition. I was 11 years old when I got my first job washing dishes at my fathers restaurant. As a 35 year veteran of the restaurant and franchise industry, I have always been fascinated by the challenges, risks, rewards, and day to day "work" a CEO faces when first taking the helm of an ongoing franchise organization. CALIFORNIA DISCLAIMER: THESE FRANCHISES HAVE BEEN REGISTERED UNDER THE FRANCHISE INVESTMENT LAW OF THE STATE OF CALIFORNIA. 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. 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. I was born with a strong work ethic. This information is not intended as an offer to sell or the solicitation of an offer to buy a franchise. 1117 Perimeter Center West, Suite W200 The offering is by prospectus only. 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. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Charles Watson, CEO of Tropical Smoothie Cafe, LLC, said, "It's inspiring to be part of the growth that Tropical Smoothie Cafe has . He has been the Chief Development Officer since 2015 and directly responsible for selling more than 800 franchises during his tenure. We have very dedicated franchisees that just go out there and drive the business every day. 1117 Perimeter Center West, Suite W200 Excludes non-traditional locations and Restaurants that were not open for at least 357 days in 2021. The companys goal is to open 1,500 cafes or more by the year 2024. Whats the best piece of advice that other restaurant executives should hear? 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. His goal is to achieve $1 billion in sales and 1,500+ cafes by 2023. . 770-580-2333, Bold Women in the C-Suite: Cheryl Fletcher, Connect with People Who Have More Experience: Interview with Charles Watson, CEO of Tropical Smoothie Cafe, Tropical Smoothie Cafe Celebrates Spring With The Return Of Superfruit Smoothies. Gary Occhiogrosso: Tell us a little about your background before joining Tropical Smoothie? *$1,009,803 System Wide Average Net Revenues. NET WORTH * LIQUID CAPITAL/CASH . 770-580-2333 When I became CEO, I launched a formal franchisee advisory council, known in our organization as the Tropical Franchisee Council (TFC). This information is not intended as an offer to sell or the solicitation of an offer to buy a franchise. Occhiogrosso: How is taking the reins of an existing company different than being part of a startup or a founder? 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. The offering is by prospectus only. Tropical Smoothie Cafe, LLC, 1117 Perimeter Center West, Suite W200, Atlanta, GA 30338. 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. A veteran hospitality professional, Charles has worked for several hospitality-related companies, including Wyndham Hotels & Resorts, Intercontinental Hotels Group, US Franchise Systems, Inc., and Hospitality Real Estate Counselors. There is no assurance that you will do as well. Well, I think the one thing is that smoothies are anytime, theyre not just a breakfast day part. What challenges, if any, did you face in getting "buy-in" from the existing franchise community once you became CEO? Well, Tropical Smoothie Cafe, we've got 850 locations in 44 states. See where were looking to grow to meet the incredible demand. Tropical Smoothie Caf currently has over 800 locations nationwide. Opinions expressed by Forbes Contributors are their own. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. "Relationships Rule" is one of our core values, and because of that, people are at the heart of our company. Get Verified Emails for 1,980 Tropical Smoothie Cafe Employees. 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. 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.". Fixed: Release in which this issue/RFE has been fixed.The release containing this fix may be available for download as an Early Access Release or a General Availability Release. In July 2018, I was named interim CEO, and then permanent in December 2018.". Atlanta, GA 30338 Mark serves on the board of the Institute of Certified Franchise Executives. So that was helpful! As CEO, Watsons goal is to achieve $1 billion in sales and more than 1,500 cafes by 2023. shin numbness after acl surgery; first friday phoenix vendor application; benton high school baseball roster; surprise message link for boyfriend Atlanta, GA. A veteran hospitality professional, Charles has worked for several hospitality-related companies, including Wyndham Hotels & Resorts, Intercontinental Hotels Group, US Franchise Systems, Inc., and Hospitality Real Estate Counselors. 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. We add some spice to it. In a franchise system, without broad franchisee buy-in, you cannot move as efficiently and effectively as is required in today's business environment.". 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. 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. And drive their economic engine. Occhiogrosso: How do you see the company moving forward? 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. 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.
Ashley Jenkins Scotland, Articles C
Ashley Jenkins Scotland, Articles C