Smoothie Kings plans to sign 240 store deals in 2021
After a record second quarter that saw the company achieve a 34% increase in same-store sales, Smoothie King saw a 5% increase in sales in the third quarter of 2021, in addition to an extraordinary increase in sales. sales of 14.8% in the third quarter compared to 2019. The brand ended the third quarter positive by 18% since the beginning of the year. Further consolidating its leadership position in the smoothie category, Smoothie King opened 21 new stores for the quarter, totaling 92 new store openings since the start of the year. In addition to strong sales figures, the brand has welcomed 26 new national franchisees this year and signed 158 national store engagements to date. Going forward, the world’s largest smoothie brand expects a total of around 240 new in-store engagements by the end of 2021.
Smoothie King also achieved a record Average Unit Volume (AUV) of $ 834,562 for the top 25% of operating franchise units. This store-level success is partly attributed to the brand’s strong digital performance, which includes the healthy rewards app, online ordering for pickup and delivery, multiple third-party delivery partners, and the introduction of tablets. for drive-thru locations. The brand has benefited from faster, more accurate and more user-friendly service, which has clearly translated into even higher performance at the unit level. For the first time, Smoothie King also reported an impressive store-level EBITDA of 20%. This is the result of the implementation of store level tools to help franchisees control their costs as well as the work being done to reduce food costs during this difficult time. This milestone once again proves the brands’ commitment to store-level profitability and the growth of their franchisees.
“In the wake of the global health crisis we are facing, inspiring people to adopt healthy and active lifestyles has been essential to our growth and has helped introduce our brand to new customers,” said Wan Kim, CEO and Chairman of the Board. by Smoothie King. “As we move into 2022, our goal is to help our franchisees achieve higher unit volume and EBITDA through operational efficiency and new technologies and to stay dedicated to our mission and vision through new product launches and system-wide initiatives. I am proud of the hard work of my team and our franchisees to get to where we are today and look forward to the future growth of Smoothie King.
“There has never been a better time to invest in a Smoothie King franchise,” adds Kevin King, Director of Business Development. “The fourth quarter will surely bring more wins for our franchisees and we look forward to finding even more qualified franchise candidates to expand our brand into new and existing markets across the country. ”
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