The Franchise that can solve your Valentine's Day Woes
Cracking your head over what to get your significant other this valentine’s? Fret not! Edible Arrangements provides you the perfect last-minute solution for valentine’s day gift buying. They are a franchise-based business specialising in fresh fruit arrangement, allowing for a marriage between the concept of fruit baskets and flower arrangement designs. Their products are made fresh daily, hence you have no excuse for needing to get your Valentine’s day gift way in advance, lest you want to send a bouquet of stale fruits. If you’re still clueless on what to get, Edible Arrangements offers options such as sculpted fruit floral arrangements, gift baskets made with fresh fruit, smoothies, yogurt and more fruit-related products!
But, what’s more exciting that buying an edible arrangement, is buying the Edible Arrangements franchise! Owners earn a whopping $72,000 annually, which averages out to be $35 per hour - 18% higher than the national average for all franchise owners. If you are convinced by the products that they are selling and would want a part in this, we consolidated a couple of facts about Edible Arrangement franchises below:
- Started by Tariq Farid at 17, when he borrowed $5,000 from his parents to buy a flower shop in East Haven, Connecticut, and developed it to 4 flourishing stores within 2 years. Just 7 years later, he launched edible bouquets made up of fresh fruits.
- Relatively low initial franchise fee of $30,000
- Over $497,000 in Average Gross Sales
- 1,200+ Locations worldwide 1,191 stores in the U.S. & 62 International stores
- Over 15% new store growth in the past 3 years
- Operate at street-level retail in shopping centres, downtown commercial and suburban areas
- Customers receive their products by either self pick-up, or delivery by the franchisees
- Net Worth Requirement: $250,000
- One of America’s fastest growing privately held businesses in America by Inc. Magazine
- One of the top franchise systems in Entrepreneur Magazine’s Franchise 500
- An innovator in the gifting industry, estimated at over $20 billion in the US alone
- 82% brand recognition fueled by national TV & digital marketing in the U.S. & Canada
If you are still unsure what is the best franchise for you to invest in - Edible Arrangements or not, you should check out our franchise matching quiz here. We’ve got thousands of franchises that could give you a better idea as to what kind of business you should start this year.
Rachael Annabelle is the Marketing Analyst at FranchiseHelp. Her dream Edible Arrangement has plenty of dark chocolates and ice cream in it.
Franchise Hurdles
The first point I made ties into this, but you need to make sure you’ve done your research before you go ahead and sign a franchising agreement. And that doesn’t just mean from a financial perspective. There are so many other aspects in running a franchise that you need to understand before you get started. Most of this information can be found in the Franchise Disclosure Documents. Some of the most important things you should take a look at would be any legal issues the franchisor might have and the churn rate of franchises. Both of those could potentially be pretty significant red flags that might make you want to reconsider whether or not you want to open that franchise.
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