By Jeni Marinucci
It appears Canadians really love their smoothies and salads.
The fresh food QSR Freshii released plans yesterday outlining their projected growth into the restaurant marketplace, noting that they expect to increase storefronts by up to 160 locations this year alone.
While there is a definite trend right now towards availability of fresh, fast foods on the go, the company feels there are more reasons adding to their growth and success, namely the affordability of franchises to potential owners. Matthew Corrin is the Freshii CEO and chain-founder, and says the company can attribute “a positive earning report” to three criteria.
Freshii is capturing three global and accelerating market forces by meeting demand for health and wellness products, focusing on millennial consumers and franchise partners, and offering entrepreneurs an affordable franchise.
He adds, “We believe this is what’s fuelling our growth.”
As it stands, almost one-third of new Freshii locations are opened by existing franchise owners, as they expand their reach into new neighbourhoods. The average startup cost for franchises comes in at around $260,000 per location, which is seen as quite reasonable for many entrepreneurs, especially those brand new to the restaurant industry.
There are currently 278 Freshii locations worldwide, and the prospective growth of 150 to 160 new locations outlines the bulk of those being in North America. Approximately 20 per cent are expected to be international locations.
Corrin – and Freshii – made news last week when he published public notices, in what some call an “audacious” offer to buy out franchise owners from their Subway agreements. The company ran full page ads to promote their offer, and there has been no reply from Subway, as of publication.
The assertive moves comes on the heels of a great revenue year for the organization in 2016, which saw an uptick in revenue of over five millions dollars compared to 2015’s financial report.
Freshii’s motto, according to their website, is “Eat. Energize,” but in the spirit of growth (and alliteration), perhaps a third word is called for: Expand.