Tuesday, March 4, 2014

Smoothie King looks to grow in Charlotte

Smoothie King is looking to open more franchises in North Carolina cities including Charlotte, and the company is offering franchisees a discount if they buy in bulk.

The company is planning for 60 more stores in Charlotte, Raleigh, Durham, Chapel Hill, Fayetteville and Wilmington over the next few years. To stimulate demand among franchisees, people who buy at least three franchises will get 40 percent off their franchise fees.

Smoothie King has an incentive program you can find more about here. Franchise fees start at $15,000.

But don't think you can necessarily plop down a little withdrawal from your 401(k) and start a Smoothie King: "The financial requirement to open a Smoothie King in the United States is $250,000 Net Worth with a minimum of $75,000 in liquid assets. We also require Sales, Marketing, Restaurant, and/or Retail Experience."

Initial costs are estimated to total $139,900 to $327,000, according to Smoothie King's website.

There are about 15 Smoothie King locations in the Charlotte area, and the company said it expects to grow here.

"Smoothie King has experienced accelerated growth over the past few years, which is why we’re continuing to focus our expansion efforts in communities across North Carolina where there is an increasing demand for our products,” said Smoothie King Global CEO Wan Kim, in a statement. “Based on the success of our franchisees in the market, we are confident our proven business model combined with our latest multi-unit development incentive program and ongoing support will provide local entrepreneurs with one of the best franchise opportunities in the smoothie segment."

Nationwide, the company said it plans to add 900 stores over the coming years, up from more than 500 now.