He was previously Tropical Smoothie Cafe's Chief Development Officer since 2016, after serving as VP of Franchise Development since 2010. NET WORTH * LIQUID CAPITAL/CASH . 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. Charles Watson, Tropical Smoothie Cafe Corp: Profile and Biography Charles is directly responsible for selling more than 800 franchises during his tenure. Prior to joining Tropical Smoothie Cafe, I worked for several hotel and hospitality-centric companies, including Wyndham Hotels & Resorts, Intercontinental Hotels Group, US Franchise Systems, Inc. and Hospitality Real Estate Counselors. How Much Does A Tropical Smoothie Owner Make Because 99% of Tropical Smoothie Cafe's system is franchisee-owned and operated, it was my goal to maintain consistency for them and move the company forward in the right direction, with a lot of reverence and respect for the past. A presentation for a board is focused on very different things than a franchisee roadshow. 2~10() . 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. 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. Weve raised almost $7.5 million for them. Weve implemented various franchisee support initiatives, including decreased royalties by 50%, ongoing support with PPP loans and real estate deferrals and abatements, rolling out curbside delivery systemwide, deployed hyper-local marketing strategies to drive business within a 12-mile radius of cafes, among many others. In this role, he is responsible for the brand's strategic vision and overall franchise performance. 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 Cafe has deals in place for hundreds more locations in the pipeline and is on track to meet Charles' aggressive goal to hit 1,500 locations by the end of 2024. Outside of smoothies, whats the top-selling non-smoothie product? From there, we set up committees, reporting into our TFC, around the major parts of our business, and included more franchisees to provide feedback and work with us on further improving IT, Marketing, Design, and Construction, etc. Here's how CEO Charles Watson did it. Weve been in partnership with them for over 10 years now. Nov 10, 2021, 09:36 ET. So more knowledge about our great food offerings is something that I would change a little bit. So just one shy of 100. What is the all-time best-selling smoothie the chain offers? I started working at a young age and because of my early drive, have been involved in a variety of industries and performed many different jobs. So in cities where you see a lot of brand-awareness and a lot of units, we will have moved into the core center-city demographics, but we typically work outside in. On April 16 we met our goal of 100,000 smoothies, but our franchisees havent stopped there, and the new challenge is to donate a total of one million smoothies by the end of May. 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. When our franchisees are successful, the brand is successful. 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. I have a little bit sweeter palate. So theres a lot of involvement. What were the one or two unique challenges that you faced upon taking over as CEO? There is no assurance that you will do as well. Your results may differ. See where were looking to grow to meet the incredible demand. The way [Tropical Smoothie Cafe works in markets], we work the suburbs and the outskirts, and move our way into cities. Franchisee Expands In Milwaukee - Tropical Smoothie Cafe LLC But we want to also have a higher calling of what were doing to be great individuals and great corporate citizens. Charles Watson email address & phone number | Tropical Smoothie Cafe I and/or my business partner(s) have the following financials, Tropical Smoothie Cafe, LLC Tropical Smoothie Caf works to keep its momentum. Michael Lapid joined Tropical Smoothie Cafe in October of 2019 to the role of Chief Information and Digital Officer. NJ. charles watson tropical smoothie net worth - blantyremalaria.org Complete the form or call 770-821-1928, and a Tropical Smoothie Cafe franchise development leader will reach out to you with more information. Tropical Smoothie Cafe Store Managers make an average of $39,252 per year. Really trying to understand how to see the world through a different stakeholders' eyes is something I still work on.". 770-580-2333 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. Well, Tropical Smoothie Cafe, we've got 850 locations in 44 states. We really call Tropical Smoothie Cafe a street corner business. Youre asking me to pick which kid I like the best. 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.". Tropical Smoothie Cafe Posts Record-breaking Q2 Results Did you foresee the level of growth the chain has experienced of late? 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. charles watson tropical smoothie net worth 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. In conclusion, I believe the growth of Tropical Smoothie Cafe over the last two years demonstrates Mr. Watson's steady leadership and a clear understanding of building on the momentum that has made the brand a leader in its category. Tropical Smoothie Cafe, LLC, 1117 Perimeter Center West, Suite W200, Atlanta, GA 30338. 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. 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. Management can grow a company without having to invest too much money, and . 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 I dont believe that the people side of our business is dead.. See where were looking to grow to meet the incredible demand. Mark Montini joined Tropical Smoothie Cafe as Chief Marketing Officer in October 2019. Excludes non-traditional locations and Restaurants that were not open for at least 357 days in 2021. And so were going to really get to focus there. Chief Development Officer since 2016, after serving as VP of Franchise Development since 2010. We want to capture both the head and the heart of our consumers. But its the freshness. 1117 Perimeter Center West, Suite W200 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. By year-end 2018 we opened 110 cafes and signed 191 new franchise agreements. Tropical Smoothie Cafe Celebrates Milestone Opening of 1,100th Location 770-580-2333 Over the years, weve learned that our innovative and versatile menu, featuring a wide variety of food items in addition to smoothies, has brought tremendous success to our brand and to our incredible franchisees. . The brands dedication to Inspire Better in all aspects of the business resonated with me from day one. Tropical Smoothie is a Georgia-based company that owns and operates a chain of restaurants serving smoothies, sandwiches, wraps, salads and soups. 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. As reopening guidelines are being determined, we plan to move forward with an abundance of caution.". "I've been with Tropical Smoothie since 2010 and was [first] our vice president of franchise development," he told Mashed. Total revenues were $58 million while expenses were only $41 million, indicating a healthy profit margin of around 30%. Franchising offers multiple benefits to a business as a whole. Tropical Smoothie Caf currently has over 800 locations nationwide. Nobody knew what was going to happen. Were finding ourselves in an environment where people want speed. Charles also serves on the boards of the International Franchise Association (IFA) and the Certified Franchise Executive (CFE) program. And then number two, I would say a franchisee base that is second to none. Mark serves on the board of the Institute of Certified Franchise Executives. Yes, I am putting my mark on the brand and culture, but I have been around long enough not to stray too far from the DNA of the brand.". "As a first time CEO, learning to view the business from a thinking vs. a doing mentality was a challenge I faced. Gary Occhiogrosso: Tell us a little about your background before joining Tropical Smoothie? Occhiogrosso: How do you see the company moving forward? In this role, he is responsible for the brand's strategic vision and overall franchise performance. It is for information purposes only. When our franchisees are successful, the brand is successful. which of the following is not characteristic of groupthink SPEED "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. He's no stranger to franchise development, nor is Charles Watson an outsider, having served four years as the company's Chief Development Officer in addition to his prior role as VP of Franchise Development. We strive to continue to harness these relationships in this way and feel that this approach will continue to fuel our success. In short, franchisees needed to know that there was a formal mechanism of their peers that was constantly feeding back to us at the Support Center. It was not possible for me to get involved in every project so I had to learn to let go and delegate. charles watson tropical smoothie net worth. 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. Your results may differ. Tropical Smoothie Cafe has deals in place for hundreds more locations in the pipeline and is on track to meet Charles' aggressive goal to hit 1,500 locations by the end of 2024. Michael Lapid joined Tropical Smoothie Cafe in October of 2019 to the role of Chief Information and Digital Officer. This process only helps our individual franchisees and their bottom line, respectively.". We set company-wide strategic imperatives around these issues immediately.". Skip to main content Call now and speak to a franchise development leader. Building off this momentum, in 2019, we celebrated the openings of our 750th and 800th locations, but taking over during such a monumental time for our brand certainly brought opportunities to improve. Here's how CEO Charles Watson did it. Join our Franchise Family. In todays restaurant industry, consumers are always looking for the next trendy item or the next emerging concept. Successfully taking the reins on an existing franchise company can be a daunting task, but in the case of Charles Watson, he continues, as their franchise website claims, to create waves for a brand that started on the beach. I would say Im absolutely not opposed to being in all 50 states. John Joseph Dallier, 61, passed away suddenly at home after severe health complications. It was not possible for me to get involved in every project so I had to learn to let go and delegate. Charles Watson has been the CEO since . menu boasts bold, flavorful smoothies with a healthy appeal, all made-to-order with quality ingredients. There are currently 913 franchised locations and 1 company-owned restaurant. SUCH REGISTRATION DOES NOT CONSTITUTE APPROVAL, RECOMMENDATION OR ENDORSEMENT BY THE COMMISSIONER OF CORPORATIONS NOR A FINDING BY THE COMMISSIONER THAT THE INFORMATION PROVIDED HEREIN IS TRUE, COMPLETE AND NOT MISLEADING. Prior to that, she spent 22 years at BBDO Worldwide, where she was executive vice president and senior director for the global advertising powerhouse, leading campaign strategy and execution for many large national brands. An offering can only be made by prospectus filed first with the Department of Law of the State of New York. 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. Tropical Smoothie Cafe Franchise History and Leadership Team We have quesadillas, we have flatbread sandwiches, we have sandwiches, we have salads. And so thats one of my favorites. Charles Watson serves as CEO for Tropical Smoothie Cafe. CALIFORNIA DISCLAIMER: THESE FRANCHISES HAVE BEEN REGISTERED UNDER THE FRANCHISE INVESTMENT LAW OF THE STATE OF CALIFORNIA. Any plans for celebrations and promotions around the quarter-century mark? I was 11 years old when I got my first job washing dishes at my fathers restaurant. Tropical Smoothie Caf works to keep its momentum - Restaurant Business Watson will lead us through our next phase of strategic growth.
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charles watson tropical smoothie net worth