charles watson tropical smoothie net worth

wills o' nats last of the summer wine. It is for information purposes only. The offering is by prospectus only. 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. Complete the form or call 770-821-1928, and a Tropical Smoothie Cafe franchise development leader will reach out to you with more information. Charles recently joined his team in celebrating the opening of the 1,000th Tropical Smoothie Cafe location. Michael brings 20 years of foundational IT skills and core functions of digital knowledge critical to shaping our journey to reach guests via innovative technologies. NET WORTH * LIQUID CAPITAL/CASH . He has been instrumental in developing the culture of Tropical Smoothie Cafe and earning the trust of our franchisees. Every day is a day to celebrate at Tropical Smoothie Cafe, with all the success were having. And then number two, I would say a franchisee base that is second to none. I and/or my business partner(s) have the following financials, Tropical Smoothie Cafe, LLC 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. Tropical Smoothie Cafe, LLC . Did you foresee the level of growth the chain has experienced of late? Watson:"I wanted to further instill a franchisee-first mentality. We look forward to realizing Charles vision for the company.. What is something you wish more people knew about the chain and its products? Show all. Michael Lapid joined Tropical Smoothie Cafe in October of 2019 to the role of Chief Information and Digital Officer. Im a football lover. charles watson tropical smoothie net worth Players MAY win multiple prizes in a. We have quesadillas, we have flatbread sandwiches, we have sandwiches, we have salads. CALIFORNIA DISCLAIMER: THESE FRANCHISES HAVE BEEN REGISTERED UNDER THE FRANCHISE INVESTMENT LAW OF THE STATE OF CALIFORNIA. Watson has been with Tropical Smoothie Cafe for many years now, so he has seen the growth up close. Tropical Smoothie Caf works to keep its momentum. When our franchisees are successful, the brand is successful. We set company-wide strategic imperatives around these issues immediately.". Right now we have a BLT quesadilla. We can make you any smoothie that you like with our whole ingredients and you can mix and match as you see fit. Areas we wanted to attack immediately with our rapid growth were direct franchisee support as well as technology support and menu innovation. Although I did not want to focus on COVID-19 in this interview, it is difficult to ignore its impact on the restaurant community as well as franchisees in general. 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. Thats a smoothie that has pineapple, strawberries, and white chocolate and coconut. What are the brands plans for expansion and are you eyeing an international presence? So its the made-to-order. A veteran franchise professional, Charles has worked for several hospitality-related companies including Intercontinental Hotels Group and US Franchise Systems. Those franchisees are serving our guests on the front lines I can't run this business without their candid feedback.". 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. Our consumers really like our food. There is no assurance that you will do as well. Its the high quality ingredients. 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. And they want what they want when they want it, and thats usually right now. We had a high level of mutual trust and respect for each other that existed before I assumed the role of CEO. Our company sells about 200 franchises, opens over 120 cafes a year, and has more than 500 locations in the pipeline. We strive to continue to harness these relationships in this way and feel that this approach will continue to fuel our success. The reality is the Left Coast, the West coast, Oregon, California, and Washington. 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. 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. In a franchise system, without broad franchisee buy-in, you cannot move as efficiently and effectively as is required in today's business environment.". "Relationships Rule" is one of our core values, and because of that, people are at the heart of our company. Paul Marsden oversees development and execution of financial strategies to support the companys business plans. Watson has worked for the brand for more than 10 years and has been its chief development officer since 2015. And is there a smoothie that you wish to see added to the menu in the future? I was lucky enough to work with the founders of the business (and still do as they are board members) as well as work under our first CEO, who did an amazing job. Fast CasualAn interview with Tim Tang of HughesDecember 2, 2019. Tropical Smoothie Cafe Store Managers make an average of $39,252 per year. I think the greatest thing you can do in life is serve others and reap the reward of knowing youve done something good for someone else. And we actually drove our comparative sales versus 2019 by 7.5%. Charles Watson, CEO of Tropical Smoothie Cafe, LLC, said, "We were humbled by the incredible response to the 200,000 smoothies our franchisees donated to frontline heroes nationwide. . In July 2018, I was named interim CEO, and then permanent in December 2018.". "As a first time CEO, learning to view the business from a thinking vs. a doing mentality was a challenge I faced. Management can grow a company without having to invest too much money, and . The most common Tropical Smoothie Cafe email format is [first_initial] [last] (ex. The role employees play in setting the customer experience in the restaurant. 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. We add some spice to it. Theyre not just a snack day part, etc. Watson: As you know, the restaurant industry has taken a huge hit. I think all natural, whole fruit, and the ability to substitute while also having some really great baseline recipes that we have out there. He has been the Chief Development Officer since 2015 and directly responsible for selling more than 800 franchises during his tenure. 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 . 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. Were now seeing a big acceleration in the business in 2021, much of that is attributable to our franchisees, really working hard to stand up digital channels. Those franchisees are serving our guests on the front lines I can't run this business without their candid feedback.". A veteran franchise professional, Charles has worked for several hospitality-related companies including Intercontinental Hotels Group and US Franchise Systems. Occhiogrosso: How do you feel about franchise advisory councils? 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. 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. 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. Its not just: We have snacks! We have a full-on robust kitchen thats preparing fresh products. cincinnati fence company llc SERVICE. I was born with a strong work ethic. Total revenues were $58 million while expenses were only $41 million, indicating a healthy profit margin of around 30%. No Place Like Home: Home Service Franchises Enjoy Continued Growth During Times Of Financial Difficulty, Little Caesars Pizza Franchise Set To Relaunch In The UK, The Importance Of Having A Franchise Exit Strategy. Tropical Smoothie Cafe. In this role, he is responsible for the brand's strategic vision and overall franchise performance. And its the high quality food. So another boldly flavored product, thats been a number one seller for gosh, probably five, six years at this point. Mark serves on the board of the Institute of Certified Franchise Executives. I love those states, [but] those are not really key states for us at this point, our big bastions out west are Las Vegas and Phoenix. So thats always up there. CEO Charles Watson, . 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. Mr. Watson was appointed the CEO position of. 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. Each year, franchisees complete the Franchise Business Review to essentially grade us here at the Support Center on how we're serving them. Chief Executive Officer @ Tropical Smoothie Cafe; . And by the way, thats one way Tropical Smoothie Cafe has grown so big so fast the food. What are some of your interests outside of work? 908-236-0277. 5 free lookups per month. Each year, franchisees complete the Franchise Business Review to essentially grade us here at the Support Center on how we're serving them. Call now and speak to a franchise development leader. Charles has the tenacity, vision and passion this brand needs to continue our upward trajectory and will ensure the success of our franchisees is at the center of every decision we make, said Scott Pressly, Chairman of the Board, Tropical Smoothie Cafe. That ultimately is our vision for Tropical Smoothie Cafe. So we have a broad array of food products that are both healthier and theyre more boldly flavored. "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. And drive their economic engine. 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. CHARLES WATSON: Sure, absolutely. Whats the best piece of advice that other restaurant executives should hear? As reopening guidelines are being determined, we plan to move forward with an abundance of caution.". The companys goal is to open 1,500 cafes or more by the year 2024. TropicalSmoothie.com. 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. Provide product innovation and innovation in general. Richard has served in a franchise operations capacity for more than 20 years with brands such as TCBY, Carvel, and Moes Southwest Grill. Watson: "Like I said, I was very fortunate to have had already developed relationships with our franchise community prior to becoming CEO. The Tropical Franchisee Council (TFC) was established in 2018 and has been invaluable for our growth. Were implementing a new point-of-sale system that acts as a hub and enables all third-party delivery, white label delivery, online ordering, etc. My experience with the brand up to that point was beneficial because I was already very immersed in the operations and processes that had contributed to its success at that time. TropicalSmoothie.com. 2020, 2019, and 2018 average, median, highest, and lowest net revenues, number of stores, and number and percentage of stores that surpassed the average net revenues in the category for the top 10%, top 25%, . It posted its ninth consecutive year of positive same-store sales, with 2020 same-stores up 7.5%. So we dont have any specific development goals associated, i.e. I think the biggest shift will take place for those restaurants that can't be open right now. Are there misconceptions about smoothies you want cleared up? Call now and speak to a franchise development leader. Charles is directly responsible for selling more than 800 franchises during his tenure. 1117 Perimeter Center West, Suite W200 *$1,009,803 System Wide Average Net Revenues. 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. Share Tweet Share Pin. Watson: "Tropical Smoothie Cafe is a national fast-casual cafe concept inspiring healthier lifestyles with more than 850 locations in 44 states. This process only helps our individual franchisees and their bottom line, respectively.". It is, however, a "darn good chaser," he said and . Its getting involved in the local community. Were any of the franchisees reluctant to follow the system or embrace a new direction? And what we were able to do is to take a smaller organization that was scrappy, just like Tropical Smoothie Cafe, and really build their endowment and really serve a lot of families. He is directly responsible for selling more than 800 franchises. 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. *$1,009,803 System Wide Average Net Revenues. Cheryl Fletcher joined Tropical Smoothie Cafe in July of 2017. Next year marks 25 years since the brands founding. If you dont have a good product, it doesnt matter. Net Worth Requirement $350,000 . CEO Charles Watson says that the company is "99.9 percent franchise," which means that most of the locations are owned independently. Tropical Smoothie Cafe has deals in place . Cheryl Fletcher joined Tropical Smoothie Cafe in July of 2017. 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. 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. 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. Richard has served in a franchise operations capacity for more than 20 years with brands such as TCBY, Carvel, and Moes Southwest Grill. Tropical Smoothie Caf's recent momentum isn't just a snowball rolling downhillit's more like a full-on avalanche. Under his leadership, the Tropical Smoothie Cafe system grew from 265 open units to 725 open units. So more knowledge about our great food offerings is something that I would change a little bit. 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. . Previously, Cheryl held a 17-year tenure with Popeyes, during which she served as Vice President of Franchise Development, Vice President of Development Strategic Planning, and Director of Investor Relations and Finance. It is the food. Currently, the following states regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota (File No. 185 Industrial Pkwy, Site H. Branchburg. 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. "I've been with Tropical Smoothie since 2010 and was [first] our vice president of franchise development," he told Mashed. We figured a good person to ask might be the CEO of Tropical Smoothie Cafe, Charles Watson. 770-580-2333, NRN Editors Discuss Digital Engagement with CMO Deborah von Kutzleben, In Her Own Words: Tropical Smoothie Cafe franchisees gain Cheryl Fletchers support, Tropical Smoothie Cafe Opens First Double Drive-Thru Location. When our franchisees are successful, the brand is successful. It is for information purposes only. And its been a heck of a ride, lots of growth, and I just really enjoying being able to scale this brand and bring healthier food and smoothies to the United States.. 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. Were proud to report that as of today, weve donated more than 200,000 smoothies to these hometown heroes, and were not done yet! 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. Tang asked Watson what support his Franchise Owners need from Tropical Smoothie Cafe. Right next to that is our relationship with our Franchise Owners. And thats like: Whos the bad kid in the family! Weve got everything right from Island Green Detox, with zero sugar, and ginger, and everything. Those interested in becoming a franchisee should have $125,000 in liquid assets and a minimum net worth of $350,000. 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. We gathered that feedback and used it to set goals and action plans for the company. 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. So I was compelled to ask Mr. Watson his thoughts on the pandemic and the company's response. Were working on it. Sure. So again, I mentioned earlier menu innovation. And so I think thats only going to fuel our continued growth going forward. Over the next five years, our goals are to reach 1,500 cafes open across the U.S., with over 18% profitability for our franchisees on average volumes in excess of $1M, all with very high operational satisfaction for our guests. Weve been in partnership with them for over 10 years now. Occhiogrosso: Please give our readers the "Elevator Pitch" for Tropical Smoothie Cafe? When Charles Watson became the new Tropical Smoothie Cafe CEO in 2019, . 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. 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. Your results may differ. 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. Currently, the following states regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota (File No. 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. For many, many years, its been the Bahama Mama. 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.