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Edible Arrangements Experiences Double Digit Franchise Sales Growth In 2009

posted by Tariq Farid July 3, 2009
Pioneer in Fresh-Fruit Arrangements Also Sees Record Increase in Same-Store Sales for Father’s Day

WALLINGFORD, Conn., July 1 /PRNewswire/ — Edible Arrangements, the pioneer and leader in hand-sculpted, fresh fruit arrangements, is rapidly expanding its national footprint with today’s announcement that the company has experienced double-digit growth since January 2009, including the addition of 28 new franchises in 13 states coast-to-coast including Florida, New York, Texas, Missouri, Michigan, Massachusetts, and California, among others.

In addition to its strong franchise sales growth, Edible Arrangements also recorded a 19 percent increase in same-store sales in the U.S. over Father’s Day week compared to the same period last year. Locations in Canada benefitted from a same-store sales increase of 27 percent.

Currently, Edible Arrangements has 887 locations with the goal to have 1,000 units by year 2010, which is part of an aggressive growth strategy that includes expanding in existing markets while continuing its growth in emerging markets such as California, Texas, Arizona, Florida, Salt Lake City, Pittsburgh, Seattle, Philadelphia and New York. In addition to finding qualified new franchisees, the company’s growth strategy includes growing its existing franchise base into enterprise multi-unit operators. Of the locations sold above, 16 were purchased by existing franchisees.

“We’ve built a solid franchise system over the last 10 years by giving our franchisees the necessary tools, training and equipment to ensure success,” said Tariq Farid, Founder and CEO, Edible Arrangements, Inc. “Even in a down economy, our company continues to grow and prove its universal and widespread appeal.”

Recently the recipient of the International Franchise Association’s “Entrepreneur of the Year Award,” Farid developed and launched Edible Arrangements in 1999 in East Haven, CT, after many years in the floral industry. He learned early that corporate support can make the difference between a struggling or thriving franchise. It is for this reason that Edible Arrangements offers its franchisees comprehensive corporate and onsite level training, unparalleled technology, national brand recognition and extensive support.

The company’s proprietary technology platform and point-of-sale system is the critical backbone of each Edible Arrangements’ store, where franchisees have 24/7 access to its “industry leading” on-line support system.

Technology also assists in the development of the proprietary tools used to design arrangements, which enhances the product’s look and increases profit margins. The company has developed a fully integrated national marketing program focusing on television, magazine and online advertising.

Since its inception, Edible Arrangements has earned countless accolades from the industry, including its ranking as first in its category by Entrepreneur Magazine’s Annual “Franchise 500” Ranking in 2007, 2008, 2009, as well as one of the magazine’s “HOT 100” franchises in 2008. In addition, the company has ranked for three consecutive years in Inc. Magazine’s top 5,000 fastest growing privately-held companies and AllBusiness.com ranked Edible Arrangements as 23rd in overall growth and 65th in system size due to a doubling of units since 2006.

Individuals seeking to own and operate an Edible Arrangements’ franchise should posses a minimum liquidity of $50,000 and the ability to invest approximately $154,920 – $298,005. Multi-unit store networks are also available for qualified applicants. Financing options are available to qualified applicants. For more information, please visit www.eafranchise.com or call 888.727.4258.

About Edible Arrangements

Edible Arrangements International, Inc., is the leading purveyor of delicious, high quality, artistically designed, fresh fruit arrangements that are a practical and healthy gift. Founded in 1999 in East Haven, CT. by Tariq Farid, Edible Arrangements earned the 27th spot on Entrepreneur Magazine’s “2008 Hot 100 List of Fastest-Growing Businesses in America.” With nearly 900 operating locations worldwide, Edible Arrangements is rapidly expanding across the United States, Canada, Puerto Rico, the United Kingdom, Italy and throughout the United Arab Emirates. Customers may order arrangements by telephone 1-877-DO-FRUIT, at one of the company’s retail stores, or on-line at ediblearrangements.com.

Website: http://www.eafranchise.com
Website: http://www.ediblearrangements.com

Technology

Let’s Meet The IFA’s 2009 Entreprenuer Of The Year, Tariq Farid!

posted by Tariq Farid April 30, 2009
Tariq Farid was honored by the International Franchise Association as its “Entrepreneur of the Year” during its 49th annual convention being held in San Diego, recently.

IFA’s Entrepreneur of the Year Award is presented to an individual who is currently building a successful business venture, demonstrates innovative management skills in a franchise that hasbeen in operation at least three years and is active in their community.

The pioneer and leader in hand-sculpted, fresh fruit arrangements, Edible Arrangements, under the direction of Tariq Farid, has grown to more than 870 stores in 48 states and five countries, including Canada, Puerto Rico, the United Arab Emirates, Saudi Arabia and the United Kingdom. Farid has demonstrated a commitment to offering his franchise partners unparalleled technology, national brand recognition, and training/support, resulting in a 97 percent customer retention rate.

In my exclusive interview with Tariq, I got to know him a little, and he’s a driven entrepreneur….

The Franchise King: Congratulations on being named Entrepreneur Of The Year! You started Edible Arrangements by first designing the computer systems, doing the training manuals, and putting together a profitability tracking and supply chain management process. That doesn’t sound like a very common way to franchise a business. What made you decide to do it that way, and how did it help you launch the brand?

Tariq: I believe it is important to lead by example and in business, example means that you have to develop and maintain a successful concept and can prove to no one else but yourself it can work. Designing the computer systems, doing the training manuals, and putting together a profitability tracking and supply chain management process are essential to success, especially for those who may not understand the intricacy of your concept.

The Franchise King: Your franchise concept requires a retail storefront, some employees, and inventory. The upper end of the investment range is around $300k. Because of our financial crisis, potential franchise owners have lost a good portion of their savings. Have you been finding that less people are inquiring about your concept, because of the initial investment needed to open an Edible Arrangements operation?

Tariq: I don’t think less people are inquiring because the investment range is between 147,530-307-980 it is more the time and the confidence in the market. Depending on the area, we are opening stores considerably on the lower end because of certain services due to our growth. Especially real estate, we are able to open locations in premiums areas.

The Franchise King: Looking back on your success, is there anything you wish you would have done differently, or better, that people thinking about franchising their own concepts can learn from?

Tariq: Honestly no, There is a maturity and process you have to go through which will make you better. Everyone has to pay the price for success.

The Franchise King: Can you describe the feeling the moment your name was announced as Entrepreneur Of The year, at The International Franchise Association’s Convention?

Tariq: At first it was a total surprise and I never expected it. I never thought in my wildest dreams of receiving such an honor considering the great personalities and leaders within the franchise industry. It is still hard for me to believe this, but I am very honored and humbled to receive this award.

The Franchise King: Your franchise has over 800 stores. How many would you like to have operating in the next several years?

Tariq: As an entrepreneur there is never enough, but if we can maintain what we have done over the last eight years I would be very satisfied.

The Franchise King: Are you considering adding any new products or services to your already successful lineup?

Tariq: Yes. Our success is due to great products and services. We will continue to add additional products to the lineup such as: DippedFruit.com, this will excel Edible Arrangements to a whole new level.

Thank you for sharing your story, Tariq! Is anyone inspired now?

Netsolace
Technology

About Netsolace

posted by Tariq Farid April 29, 2009

Netsolace is a technology company that provides groundbreaking technology solutions for the franchise industry.

For franchisors seeking the ultimate control over their businesses, both in terms of relationship management and operational efficiency, Netsolace offers a suite of proven software solutions that enables better monitoring, communications and data management at each stage of the franchise lifecycle.Netsolace

Our comprehensive suite of convenient and flexible web-based applications can be accessed from anywhere. They are designed to support both the franchisor and franchisee business needs and provide real time information for comprehensive data analysis and management reporting.To see how we can help you, please review our site or contact us. We will be happy to answer your questions and demonstrate how our solutions can help your business and its bottom line.