Tropical Smoothie Cafe Accelerated Growth In Houston With New Restaurant In Cypress
ATLANTA: Tropical Smoothie Cafe, the leading fast casual cafe concept known for its better-for-you food and smoothies with a tropical twist, announced today the opening of its newest franchised location in Cypress, Texas.Located at 28610 US-290, the new cafe marks the brand's 26th restaurant in the state and signifies its explosive growth and aggressive development efforts in Texas, with two additional cafes slated to open in Frisco and Carrollton this year. Tropical Smoothie Cafe continues to experience a surge in franchise development fueled by its ongoing success, with the company reporting comp sales exceeding 26 percent over the last three years.
"Houston has proven to be a prime market for Tropical Smoothie Cafe, with the success of our existing restaurants in the region propelling our continued expansion efforts in Texas," said Mike Rotondo, CEO of Tropical Smoothie Cafe. "Over the past several years, the brand has emerged as a leader in the fast casual segment and the fact that we've already opened more than 50 new locations this year further emphasizes our unstoppable momentum. We are thrilled to announce the opening of our new Cypress location and look forward to serving our better-for-you food and smoothie offerings to the vibrant Houston community."
The new Cypress cafe is owned and operated by first-time franchisees Binu and Jagriti Agrawal of AVA United, LLC. The Agrawals spent decades working as an IT consultant and licensed pharmacist before venturing into the restaurant industry to open their own business, something they always dreamed of doing. After learning of the company's remarkable success over the past several years, the husband-and-wife team landed on Tropical Smoothie Cafe. Coupled with its unparalleled service and innovative products, it was any easy decision for them to come to.
"There are countless fast casual franchise opportunities available, but when we were introduced to Tropical Smoothie Cafe, we knew that this was the type of concept we wanted to bring to our community," said Binu Agrawal. "As first-time business owners, we're proud to be part of such a reputable brand and thrilled to be a part of its expansion in Houston."
By 2020, Tropical Smoothie Cafe plans to have 1,000 stores open across the U.S. The food and smoothie franchise is looking to add qualified franchisees to its growing brand. Candidates should have business experience; $125,000 in liquid assets and a minimum net worth of $350,000; and an initial investment of between $220,770 and $525,400. The better-for-you food franchise currently boasts an average unit volume (AUV) of more than $662,000 — the highest in the company's 20-year history — with the top 50 percent reporting an AUV of more than $846,000.
Tropical Smoothie Cafe's aggressive franchise growth is backed by the entrepreneurs at the BIP Franchise Accelerator, a division of venture capital firm BIP Capital, which invested in the brand in 2010. BIP Capital has invested more than $250 million in emerging, high-growth brands across the franchising, software, and technology and consumer products industries. BIP Capital created the BIP Franchise Accelerator to leverage its leadership team's deep franchise experience to help emerging brands accelerate their growth. In addition to Tropical Smoothie Cafe, the BIP Franchise Accelerator's portfolio includes Tin Drum Asian Kitchen, which has grown to 11 locations in Georgia.