charles watson tropical smoothie net worth

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.". For many, many years, its been the Bahama Mama. For the fiscal year 2021, these End-Cap and In-Line Tropical Smoothie Cafe Restaurants typically ranged in size from 1,200 to 1,900 square feet. Tropical Smoothie Cafe CEO Charles Watson has been with the company for more than 10 years and is passionate about supporting the franchise systems sustainable growth, the success of its franchisees, and the execution of the brands Inspire Better mission. He is a general assignment reporter and has covered a range . "Relationships Rule" is one of our core values, and because of that, people are at the heart of our company. Those franchisees are serving our guests on the front lines I can't run this business without their candid feedback.". He sat down to do an interview with Tim Tang and talked about how his brand is innovating to meet the needs of todays consumers. jdoe@tropicalsmoothie.com), which is being used by 23.3% of Tropical Smoothie Cafe work email addresses. Michael Lapid joined Tropical Smoothie Cafe in October of 2019 to the role of Chief Information and Digital Officer. 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. Well see, I may have to bring that one back. 770-580-2333 We had a high level of mutual trust and respect for each other that existed before I assumed the role of CEO. Why The IFA Convention Is A Cant-Miss Event For Anyone In Franchising, The Automated Dumpling Restaurant Franchise That Could Turn Quick Service Dining On Its Head. However, I ended up a punter at Cornell. *$1,009,803 System Wide Average Net Revenues. 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. Right now Im on a Mango Berry Cosmo kick. During the current COVID-19 crisis, what steps have you taken to ensure that Tropical Smoothie Cafe supports the local community? A minimum net worth of $350,000, which includes $125,000 in liquid assets; Investment and Fee Structure: Start-up fees: A new Cafe investment is between $198,500 and $543,500. I am overjoyed to have the opportunity to lead such an incredible brand that has truly become a part of my DNA over many years, said Watson. Previously with Papa Johns International as the Vice President, Global Digital Technology, Michael is a seasoned technology executive with vast engineering and operations expertise, leadership, and a deep understanding of digital technology and guest experiences. Our consumers really like our food. So again, I mentioned earlier menu innovation. I may have a trick or two up my sleeve I do get to make some decisions occasionally around here. "Relationships Rule" is one of our core values, and because of that, people are at the heart of our company. Prior to joining Tropical Smoothie Cafe, Richard was the Vice President of Operations, West Division, for Papa Murphys International where he was responsible for field operations and marketing. So since I like it, and since we love Camp Sunshine, we may see that this fall. This process only helps our individual franchisees and their bottom line, respectively.". Charles Watson has been the CEO since . Mark Montini joined Tropical Smoothie Cafe as Chief Marketing Officer in October 2019. 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. Really trying to understand how to see the world through a different stakeholders' eyes is something I still work on.". Its the high quality ingredients. At the start of his career, Michaels ambitious spirit led him to develop a point of sale system, Hot Sauce. 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. Tropical Smoothie Cafe Store Managers make an average of $39,252 per year. So our franchisees, if theyre staying on top of their Tropical Smoothie Cafe, theyve got to own that three to five mile radius around there. Watson: "Tropical Smoothie Cafe is a national fast-casual cafe concept inspiring healthier lifestyles with more than 850 locations in 44 states. And so the way that they impact the communities where they operate is a really big part. Charles Watson, the CEO of Tropical Smoothie Care, was thrilled with his company's performance so far this year . Tropical Smoothie Cafe CEO Charles Watson admits that his brand isn't always at the leading edge when it comes to technology innovation. Prior to joining Tropical Smoothie Cafe, Richard was the Vice President of Operations, West Division, for Papa Murphys International where he was responsible for field operations and marketing. Occhiogrosso: What were the one or two unique challenges that you faced upon taking over as CEO? Such filing does not constitute approval by the Department of Law. One of the biggest expenses seen in the income statement is $12 million spent in . in December 2018. What was the condition of the company before you were named CEO? Charles recently joined his team in celebrating the opening of the 1,000th Tropical Smoothie Cafe location. I think the biggest shift will take place for those restaurants that can't be open right now. What is behind the companys rapid growth and impressive success (which, according to a company spokesperson, sawyear-to-date same-store-sales increase by 38% in recent quarters)? Von Kutzleben most recently served as vice president of brand strategy, advertising and menu at Arbys. Watson: "I'm a huge advocate for franchise advisory councils, specifically when nearly 60% of all franchise agreements at Tropical Smoothie Cafe come from existing franchisees. The offering is by prospectus only. We consider ourselves to be an approachable, healthier option for the average American, and our customer loyalty system-wide continues to climb. The chain plans on opening an astonishing 200 locations this year alone, which will mean its opening its 1000threstaurant. Tell us a little about your background before joining Tropical Smoothie? Those franchisees are serving our guests on the front lines I can't run this business without their candid feedback.". Tropical Smoothie Cafe, LLC . Youre asking me to pick which kid I like the best. Passion is key in everything. And the digital guest experience is another way for our customers to use us. Based on our fiscal year ending 12/26/2021 and includes 768 Restaurants that were open for at least 12 months as of 12/26/2021. For me, my entrepreneurial passion really came from my parents. And was one in place already? I and/or my business partner(s) have the following financials, Tropical Smoothie Cafe, LLC Were any of the franchisees reluctant to follow the system or embrace a new direction? With 158 cafe openings and 258 executed franchise agreements in 2022, the brand was able to achieve its 11th consecutive year of positive same-store-sales growth, a notable milestone in the franchise industry. And that really got us down this road of: What is our purpose? "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. F-9894), New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington and Wisconsin. 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. Tropical Smoothie Caf currently has over 800 locations nationwide. Tropical Smoothie Caf's recent momentum isn't just a snowball rolling downhillit's more like a full-on avalanche. Charles recently joined his team in celebrating the opening of the 1,000th Tropical Smoothie Cafe location. 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. Tropical Smoothie Cafe has deals in place . I and/or my business partner(s) have the following financials, Tropical Smoothie Cafe, LLC It is for information purposes only. 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. The smiles we saw and stories we heard inspired us to think bigger and explore how we could do even more to support the communities we serve. Day-to-day I would say my favorite is the Avocolada Smoothie. While the pandemic destroyed thousands of restaurants last year, Atlanta-based Tropical Smoothie Cafe had one of its best years to date. The way [Tropical Smoothie Cafe works in markets], we work the suburbs and the outskirts, and move our way into cities. charles watson tropical smoothie cafe. 770-580-2333, Tropical Smoothie Cafe Achieves New Milestones in 2022, These Will Be The 10 Fastest-Growing Restaurant Chains In 2023, Tropical Smoothie Cafe Propels Franchise Momentum in Q3. I think they can be used throughout the day and utilized in guests diets. Mark serves on the board of the Institute of Certified Franchise Executives. Paul Marsden oversees development and execution of financial strategies to support the companys business plans. It was not possible for me to get involved in every project so I had to learn to let go and delegate. Tropical Smoothie Cafe CEO Charles Watson has been with the company for more than 10 years and is passionate about supporting the franchise system's sustainable growth, the success of its franchisees, and the execution of the brand's Inspire Better mission. Right next to that is our relationship with our Franchise Owners. 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. I love a good pot roast with mashed potatoes, green beans and corn. Previously with Papa Johns International as the Vice President, Global Digital Technology, Michael is a seasoned technology executive with vast engineering and operations expertise, leadership, and a deep understanding of digital technology and guest experiences. So thats always up there. 185 Industrial Pkwy, Site H. Branchburg. It was important to me that we have franchisees themselves share their feedback and align on system initiatives and goals. I try to pass along that spirit and advice to others. In that role, he was responsible for all aspects of franchise development, real estate, design and construction and franchise administration and helped grow the system from 265 open units to 725 open units. His goal is to achieve $1 billion in sales and 1,500+ cafes by 2023. . We can make you any smoothie that you like with our whole ingredients and you can mix and match as you see fit. Any plans for celebrations and promotions around the quarter-century mark? Luckily in my first two years as CEO, we continued to expand the footprint of the brand, and increase brand awareness, drive profitability for our franchisees and drive our comp sales. If its not run-of-the-mill bland food, we want to bring a little bit of a culinary experience to quick casual, and still provide convenience, and value, and all those kinds of things. Were right, exactly where It was a little bit of a step back in 2020, but in 2021, our year-to-date comparative sales are [up] almost 30%. 770-580-2333 And if you do that well, then your top-sellers, sometimes you beat them. Tropical Smoothie Cafe CEO Charles Watson has been with the company for more than 10 years and is passionate about supporting the franchise systems sustainable growth, the success of its franchisees, and the execution of the brands Inspire Better mission. This information appears in Item 19 of our Franchise Disclosure Document. At the start of his career, Michaels ambitious spirit led him to develop a point of sale system, Hot Sauce. Gosh, I would say the first things that come to mind for me are menu innovation and products. With 2011 winding down, how are you leveraging people, budgets, brands, and resources to meet development goals? Charles is directly responsible for selling more than 800 franchises during his tenure. If you don't have a Tropical Smoothie Cafe near your home yet, just wait a bit. Here's how CEO Charles Watson did it. TropicalSmoothie.com. Again, the franchising, especially in Tropical Smoothie, it is a local business. Please give our readers the "Elevator Pitch" for Tropical Smoothie Cafe? Thats why food and smoothie innovation is so important, its to keep things fresh and to make sure that our guests are getting exciting things to be able to see and try. 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. Tropical Smoothie Cafe, the leading national fast-casual cafe concept known for both its better-for-you smoothies and food with a tropical twist, announces the appointment of Charles Watson as the new Chief Executive Officer. Glad Tidings: Are Seasonal Franchises A Good Investment? And so we are rolling out this fall, what were calling it, our Inspire Better, right? It's tropic time. "As a first time CEO, learning to view the business from a thinking vs. a doing mentality was a challenge I faced. CLOSE. Mr. Watson was appointed the CEO position of. Prior to Tropical Smoothie Cafe, Mark served as Chief Marketing Officer with Floor Coverings International where he was responsible for driving the brands digital transformation and leadership position in service-based franchising. 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. 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.". And they want what they want when they want it, and thats usually right now. 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. ATLANTA, Nov. 10, 2021 /PRNewswire/ -- Tropical Smoothie Cafe, the fast-growing national franchise brand known for its better-for-you smoothies and food with a tropical . This information is not intended as an offer to sell or the solicitation of an offer to buy a franchise. Tropical Smoothie Cafe, LLC, 1117 Perimeter Center West, Suite W200, Atlanta, GA 30338. Complete the form or call 770-821-1928, and a Tropical Smoothie Cafe franchise development leader will reach out to you with more information. Richard has served in a franchise operations capacity for more than 20 years with brands such as TCBY, Carvel, and Moes Southwest Grill. Its tough. 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. So we managed to get through that. Watson has been with Tropical Smoothie Cafe for many years now, so he has seen the growth up close. So that was helpful! 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. Here are some highlights of their conversation about his franchise business. Such filing does not constitute approval by the Department of Law. Currently, the following states regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota (File No. Looking ahead to twelve months or two years down the road, Watson had this to say: Tropical Smoothie Cafe is in an incredible growth phase. Total revenues were $58 million while expenses were only $41 million, indicating a healthy profit margin of around 30%. "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. "Tropical Smoothie Cafe is a national fast-casual cafe concept inspiring healthier lifestyles with more than 850 locations in 44 states. What were the one or two unique challenges that you faced upon taking over as CEO? Currently, the following states regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota (File No. Beyond just smoothies, we serve better-for-you wraps, sandwiches, and flatbreads, and pride ourselves on living at the "intersection of taste, convenience, and hospitality." An offering can only be made by prospectus filed first with the Department of Law of the State of New York. Watson discusses how and why the brand has seen a Q3 same-store sales jump of 19.5% during the pandemic Tropical Smoothie Cafe on franchisee success during COVID-19 | Nation's Restaurant News Tropical Smoothie is a Georgia-based company that owns and operates a chain of restaurants serving smoothies, sandwiches, wraps, salads and soups. Yes, it has a brand name on it, but it is Bill and Sally Smith on the corner and theyre entrepreneurs. We have a jerk chicken quesadilla, we dont come out and just do a ham or turkey sandwich. So we have a broad array of food products that are both healthier and theyre more boldly flavored. So that would be my thoughts. Call now and speak to a franchise development leader. Previously with Papa Johns International as the Vice President, Global Digital Technology, Michael is a seasoned technology executive with vast engineering and operations expertise, leadership, and a deep understanding of digital technology and guest experiences. Beyond that, we need to provide training. Because of our amazing guests, our franchisees, and the communities they serve, including those on the front lines of this pandemic, we will get through this. But I would tell you that what has ultimately driven this brand is our franchisees and it is our culture, right? Watson: "I think when taking over any brand where you worked alongside your predecessor, there's a certain level of pressure to continue carrying the torch, but also to make necessary changes to the brand to evolve with the changing economy and consumer trends. Jul. . NET WORTH * LIQUID CAPITAL/CASH AVAILABLE FOR INVESTMENT * *All fields required. How is taking the reins of an existing company different than being part of a startup or a founder? We loved the idea so much we launched a nationwide campaign to donate 100,000 smoothies across the country and the response has been incredible. Michael Lapid joined Tropical Smoothie Cafe in October of 2019 to the role of Chief Information and Digital Officer. Cheryl Fletcher joined Tropical Smoothie Cafe in July of 2017. So I would say our Island Green Detox is not my go-to, but I understand that should be my go-to from a health perspective. CALIFORNIA DISCLAIMER: THESE FRANCHISES HAVE BEEN REGISTERED UNDER THE FRANCHISE INVESTMENT LAW OF THE STATE OF CALIFORNIA. 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. A veteran hospitality professional . Complete the form or call 770-821-1928, and a Tropical Smoothie Cafe franchise development leader will reach out to you with more information. And so were going to really get to focus there. Some of our franchisees had the idea to donate smoothies to first responders and hospital workers in Atlanta. Tropical Smoothie Cafe, LLC, 1117 Perimeter Center West, Suite W200, Atlanta, GA 30338. Its not just: We have snacks! We have a full-on robust kitchen thats preparing fresh products. Areas we wanted to attack immediately with our rapid growth were direct franchisee support as well as technology support and menu innovation. Knowing that those essential workers are not only in the healthcare fields, weve also extended our giving to grocery store, warehouse and post office employees. New York State Disclaimer: This advertisement is not an offering. My job is to serve them. Currently, the following states regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota (File No. 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. 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. 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. Within the first day, several local franchisees jumped on board and donated more than 600 smoothies each, and the donations just kept growing from there. 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. 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 . At the end of the day, we are a restaurant company and how great our food and smoothies are determines [success]. Chief Development Officer since 2016, after serving as VP of Franchise Development since 2010. Michael Lapid joined Tropical Smoothie Cafe in October of 2019 to the role of Chief Information and Digital Officer. I and/or my business partner(s) have the following financials, Tropical Smoothie Cafe, LLC We set company-wide strategic imperatives around these issues immediately.". That ultimately is our vision for Tropical Smoothie Cafe. 770-580-2333 With extensive experience in the food service industry, Paul comes to Tropical Smoothie Cafe from Popeyes, where he served as the Chief Accounting Officer and spent nearly two decades working in the brands financial and accounting departments. Nobody knew what was going to happen. Luckily in my first two years as CEO, we continued to expand the footprint of the brand, and increase brand awareness, drive profitability for our franchisees and drive our comp sales. 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. Mr. Watson was appointed the CEO position of Tropical Smoothie Cafe in December 2018. Charles Watson CEO. 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.". How do you see the company moving forward? Occhiogrosso: What are some of the additional support initiatives you put in place for your franchise community during the pandemic? And we actually drove our comparative sales versus 2019 by 7.5%. Is there a smoothie that you personally are thrilled is on the menu, but just dont enjoy yourself? Tang asked Watson what support his Franchise Owners need from Tropical Smoothie Cafe. New York State Disclaimer: This advertisement is not an offering. Tell us a bit about Camp Sunshine, about the partnership there, what you want people to know about it, and ways people can help support it. He was previously. In 2018, when I was named CEO, we had more than 720 locations open nationwide. . Excludes non-traditional locations and Restaurants that were not open for at least 357 days in 2021. "I'm a huge advocate for franchise advisory councils, specifically when nearly 60% of all franchise agreements at Tropical Smoothie Cafe come from existing franchisees. Tropical Smoothie Cafe on Thursday said it has named Charles Watson its permanent CEO as it works to grow into a $1 billion company within five years. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Were working on it. See where were looking to grow to meet the incredible demand. Watson:"At Tropical Smoothie Cafe, it's our mission to inspire a healthier lifestyle by serving amazing food and smoothies, with a bit of tropical fun. With the fast-casual spot gaining more recognition every year, there's a good chance that you won't be seeing your favorite Tropical Smoothie Cafe going anywhere anytime soon . So thats what we call Inspiring Better. If your Franchised Business includes a drive-thru, the additional expense (including the cost of leasehold improvements, restaurant fixtures and equipment, and other costs) would be approximately $35,000 to $45,000. So theres a lot of involvement. Turns out, theres a lot to know about Tropical Smoothie Cafe. There is no assurance that you will do as well. Were in 44 states, and Tropical Smoothie Cafe does not currently have an international presence. We look forward to realizing Charles vision for the company.. 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. It was not possible for me to get involved in every project so I had to learn to let go and delegate. We find that real fruits, veggies, and juices just taste better.". When I became CEO, I launched a formal franchisee advisory council, known in our organization as the Tropical Franchisee Council (TFC). Sometimes youve just got to go with the taste. Excludes non-traditional locations and Restaurants that were not open for at least 357 days in 2021. That created a kind of blueprint that served as the foundation for me to take the reins and lead the company the way I felt was best. A veteran franchise professional, Charles has worked for several hospitality-related companies including Intercontinental Hotels Group and US Franchise Systems. I dont believe that the people side of our business is dead.. Watch the complete interview here or start your journey in becoming a Tropical Smoothie Cafe Franchise Owner by completing our form. We want to be an escape for our consumers in this hectic world we live, and an incredible business model for our franchise partners It's an exciting time to be a fast-casual concept within this segment, specifically as the market size of the juice and smoothie bars industry is expected to increase by 2.3% in 2020, reaching nearly $3 billion in revenue across the globe. The most common Tropical Smoothie Cafe email format is [first_initial] [last] (ex. We consider ourselves to be an approachable, healthier option for the average American, and our customer loyalty system-wide continues to climb. Its in Casco, Maine, Camp Sunshine. Early in his career, Mark served the franchise industry as a supplier, delivering innovative technology-enabled marketing strategies to help emerging franchise concepts rapidly scale and grow revenue through local-level marketing and sales. Beyond just smoothies, we serve better-for-you . The offerings have evolved over the years to include a menu of breakfast and lunch items beyond smoothies. 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. So I was compelled to ask Mr. Watson his thoughts on the pandemic and the company's response. Unresolved: Release in which this issue/RFE will be addressed. The best smoothie in terms of sales actually going on right now is our Mango Berry Cosmo. 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. 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. Find restaurant equipment and suppliers. The success of our brand is about the talent and drive of our talented executives and Support Center team. Sure. Did you foresee the level of growth the chain has experienced of late? Its a fantastic organization that weve enjoyed immensely being part of. Tropical Smoothie Cafe CEO Charles Watson has been with the company for more than 10 years and is passionate about supporting the franchise system's sustainable growth, the success of its franchisees, and the . city of san diego street classification map; blackrock russell 2000 index fund g1; 3610 atlantic ave, long beach, ca 90807; eternal water heater lawsuit; A series of fortunate events July 20, 2020.

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