charles watson tropical smoothie net worth charles watson tropical smoothie net worth

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.". I was 11 years old when I got my first job washing dishes at my fathers restaurant. Watson has been with Tropical Smoothie Cafe for many years now, so he has seen the growth up close. How Much Do You Make Owning A Tropical Smoothie. You may opt-out by. . 908-236-0277. And so I dont know. As you know, the restaurant industry has taken a huge hit. 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. NET WORTH * LIQUID CAPITAL/CASH . We had a high level of mutual trust and respect for each other that existed before I assumed the role of CEO. We did a fantastic job of that during the pandemic, we gave away a quarter million smoothies to healthcare workers and first-responders. shin numbness after acl surgery; first friday phoenix vendor application; benton high school baseball roster; surprise message link for boyfriend He was previously. An offering can only be made by prospectus filed first with the Department of Law of the State of New York. As their franchise website states: "Tropical Smoothie Cafes menu boasts bold, flavorful smoothies with a healthy appeal, all made-to-order with quality ingredients. 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. Always number one, what I am focused on, is unit-level economics for our Franchise Owners. It was important to me that we have franchisees themselves share their feedback and align on system initiatives and goals. 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. Both of my parents had the entrepreneur bug and they definitely passed that on to me. 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.". It's tropic time. The best smoothie in terms of sales actually going on right now is our Mango Berry Cosmo. From my VP of development officer to today as CEO, Ive been passionate about the brands vision. Were proud to report that as of today, weve donated more than 200,000 smoothies to these hometown heroes, and were not done yet! Here are some highlights of their conversation about his franchise business. While our projected 2020 growth might take a step back due to the coronavirus, I believe our approach to navigating through this will help us emerge quickly once it passes. 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. What were the one or two unique challenges that you faced upon taking over as CEO? 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. Resolved: Release in which this issue/RFE has been resolved. It is for information purposes only. Gosh, I would say the first things that come to mind for me are menu innovation and products. Cheryl Fletcher joined Tropical Smoothie Cafe in July of 2017. Charles recently joined his team in celebrating the opening of the 1,000th Tropical Smoothie Cafe location. Occhiogrosso: What were the one or two unique challenges that you faced upon taking over as CEO? The Tropical Franchisee Council (TFC) was established in 2018 and has been invaluable for our growth. 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.". 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. What sets your smoothies apart from smoothies from competitors? Complete the form or call 770-821-1928, and a Tropical Smoothie Cafe franchise development leader will reach out to you with more information. 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. Total investment for a new cafe opening ranges between $246,500 and $580,500. "We were in a good place! The guests who support local businesses in and around their communities are the ones we give the credit to because their loyalty to our cafes is what has ultimately maintained our ability to serve. Currently, the following states regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota (File No. If you dont have a good product, it doesnt matter. Call now and speak to a franchise development leader. Michael Lapid joined Tropical Smoothie Cafe in October of 2019 to the role of Chief Information and Digital Officer. For many, many years, its been the Bahama Mama. 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. . Charles Watson, CEO of Tropical Smoothie Cafe was a recent attendee at the Fast Casual Executive Summit in Austin, Texas. Well, Tropical Smoothie Cafe, we've got 850 locations in 44 states. New York State Disclaimer: This advertisement is not an offering. It was not possible for me to get involved in every project so I had to learn to let go and delegate. 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. Weve raised almost $7.5 million for them. Occhiogrosso: What was the condition of the company before you were named CEO? 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. Its not just: We have snacks! We have a full-on robust kitchen thats preparing fresh products. 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. So we managed to get through that. Tropical Smoothie Cafe, LLC . "Tropical Smoothie Cafe is in a perfect position for the future. There is no assurance that you will do as well. As CEO, Watsons goal is to achieve $1 billion in sales and more than 1,500 cafes by 2023. And theyre in their communities. We figured a good person to ask might be the CEO of Tropical Smoothie Cafe, Charles Watson. Gary Occhiogrosso: Tell us a little about your background before joining Tropical Smoothie? Drain-Net Technologies. An offering can only be made by prospectus filed first with the Department of Law of the State of New York. Then we determined two focus areas, giving back to the community and prioritizing support for our franchisees. 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. What was the condition of the company before you were named CEO? 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. And so thats one of my favorites. 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. CEO Charles Watson, along with his leadership team, will be hosting an informative event at the franchised Tropical Smoothie Cafe in Dallas-Fort Worth, located at 760 Airport Freeway, Suite 400 . 1117 Perimeter Center West, Suite W200 Then we determined two focus areas, giving back to the community and prioritizing support for our franchisees. He sat down to do an interview with Tim Tang and talked about how his brand is innovating to meet the needs of todays consumers. 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. Without our franchisees, committees, and council, I simply could not do this job. I joined Tropical Smoothie Cafe in 2010 as the Vice President of Franchise Development and, in 2016, became the Chief Development Officer, where I was responsible for all aspects of the development of the brand. New York State Disclaimer: This advertisement is not an offering. Here's how CEO Charles Watson did it. 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. Sure. For the fiscal year 2021, these End-Cap and In-Line Tropical Smoothie Cafe Restaurants typically ranged in size from 1,200 to 1,900 square feet. A presentation for a board is focused on very different things than a franchisee roadshow. Charles also serves on the boards of the International Franchise Association (IFA) and the Certified Franchise Executive (CFE) program. My predecessor did a great job, so most of the hesitancy candidly was, "will this guy be as good, will we have the same amount of success?" 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, 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. "When COVID-19 struck the restaurant landscape in mid-March, we closed all dining rooms and shifted our focus to drive-thru, curbside pickup, and delivery where available. My mentality and passion for what I do has remained consistent at every stage of my career, carrying over to when I first started with Tropical Smoothie Cafe in 2010, as the brands first vice president of franchise development. Although COVID-19 has directly impacted our business, some days being down more than 50 percent, we consider ourselves lucky to have a business model that allowed us to easily transition to grab-and-go, curbside, and delivery only. At the start of his career, Michaels ambitious spirit led him to develop a point of sale system, Hot Sauce. The impact of technology on the restaurant business and how Tropical Smoothie Cafe is adapting to a changing landscape in hospitality. Watson: "I think when taking over any brand where you worked alongside your predecessor, there's a certain level of pressure to continue carrying the torch, but also to make necessary changes to the brand to evolve with the changing economy and consumer trends. And that really got us down this road of: What is our purpose? Again, the franchising, especially in Tropical Smoothie, it is a local business. 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. So Ive got to get them in while I can. Charles recently joined his team in celebrating the opening of the 1,000th Tropical Smoothie Cafe location. Tropical Smoothie Cafe CEO Charles Watson has been with the company for more than 10 years and is passionate about supporting the franchise system's sustainable growth, the success of its franchisees, and the . 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. 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. Your results may differ. Charles Watson serves as CEO for Tropical Smoothie Cafe. 770-580-2333 The smiles we saw and stories we heard inspired us to think bigger and explore how we could do even more to support the communities we serve. 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. Tropical Smoothie Cafe CEO Charles Watson has been with the company for more than 10 years and is passionate about . Atlanta, GA. In her role as Chief Development Officer, Cheryl drives the brands franchise development sales, real estate and design and construction. F-9894), New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington and Wisconsin. Tell us a little about your background before joining Tropical Smoothie? Occhiogrosso: Please give our readers the "Elevator Pitch" for Tropical Smoothie Cafe? We consider ourselves to be an approachable, healthier option for the average American, and our customer loyalty system-wide continues to climb. 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. For me, my entrepreneurial passion really came from my parents. The impact of the more formalized committees we have set up, and the close connection I have with TFC has gotten the system more comfortable with my style and thinking, and I believe, since trust is earned, I still have a long way to go, but am off to a good start. He has been the Chief Development Officer since 2015 and directly responsible for selling more than 800 franchises during his tenure. The TFC works hand-in-hand with Tropical Smoothie on all facets of the business from operations, IT, marketing, construction, and beyond, and their genuine feedback continues to establish the open communication we strive for, helping us to enhance our business model on an ongoing basis. But the Mango Berry Cosmo has overtaken it. Prior to being named CEO in 2018, Charles served as the chief development officer for Tropical Smoothie Cafe. Theres an obvious answer for me here, and thats to put your heart into what you do. I and/or my business partner(s) have the following financials, Tropical Smoothie Cafe, LLC How are we purpose-driven? And were rolling that out under our tagline of Inspire Better. jdoe@tropicalsmoothie.com), which is being used by 23.3% of Tropical Smoothie Cafe work email addresses. Mark Montini joined Tropical Smoothie Cafe as Chief Marketing Officer in October 2019. In a franchise system, without broad franchisee buy-in, you cannot move as efficiently and effectively as is required in today's business environment.". At the start of his career, Michaels ambitious spirit led him to develop a point of sale system, Hot Sauce. I learned through watching them success shouldnt be measured in hours worked, but rather in getting the job done right. 1117 Perimeter Center West, Suite W200 . 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. And if you do that well, then your top-sellers, sometimes you beat them. Complete the form or call 770-821-1928, and a Tropical Smoothie Cafe franchise development leader will reach out to you with more information. 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. Because of our amazing guests, our franchisees, and the communities they serve, including those on the front lines of this pandemic, we will get through this. There are currently 913 franchised locations and 1 company-owned restaurant. Tropical Smoothie Cafe, LLC, 1117 Perimeter Center West, Suite W200, Atlanta, GA 30338. There is no assurance that you will do as well. Chief Executive Officer @ Tropical Smoothie Cafe; . . Call now and speak to a franchise development leader. So thats what we call Inspiring Better. Was it a pleasant surprise, expected, or was it a bit of both? Charles Watson, the CEO of Tropical Smoothie Care, was thrilled with his company's performance so far this year . 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. Excludes non-traditional locations and Restaurants that were not open for at least 357 days in 2021. 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.. 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. The average tropical smoothie franchise owner s salary/pay is estimated to be $126,000 per year, based on an average net revenue of $1,009,803 and a profit margin of 15%. The offering is by prospectus only. TikTok user Fuhlex left her followers stunned after revealing the cost of the bagThe social media user, from LA, said she was 'too embarrassed to put it back'But people likened it to a 'potato sack' and begged her to return it to the store What challenges, if any, did you face in getting "buy-in" from the existing franchise community once you became CEO? 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. Its getting involved in the local community. 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. Excludes non-traditional locations and Restaurants that were not open for at least 357 days in 2021. Communicate deeply. What are some of your interests outside of work? Excludes non-traditional locations and Restaurants that were not open for at least 357 days in 2021. 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. 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. Occhiogrosso:What was your plan for the first 90 days? To what factors do you attribute the growth of the chain in recent years, and to its staying power? My predecessor did a great job, so most of the hesitancy candidly was, "will this guy be as good, will we have the same amount of success?" The number one seller from a limited time offer perspective has always been our summertime Watermelon Mojito, its incredibly popular, 20 to 25 sales per cafe per day, with that Watermelon Mojito, everyone looks forward to it. Tropical Smoothie Cafe. Theyre not just a snack day part, etc. Paul Marsden oversees development and execution of financial strategies to support the companys business plans. His goal is to achieve $1 billion in sales and 1,500+ cafes by 2023. . It was not possible for me to get involved in every project so I had to learn to let go and delegate. For the fiscal year 2021, these End-Cap and In-Line Tropical Smoothie Cafe Restaurants typically ranged in size from 1,200 to 1,900 square feet. And now is the right time to buy." . Total revenues were $58 million while expenses were only $41 million, indicating a healthy profit margin of around 30%. 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. However, I ended up a punter at Cornell. At the start of his career, Michaels ambitious spirit led him to develop a point of sale system, Hot Sauce. 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. 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. Charles is directly responsible for selling more than 800 franchises during his tenure. I lean into that so that our employees can feel good about what they do.. I write about the franchising, restaurant and food services industry. Ill start with the fact that I believe that convenience is king. Fixed: Release in which this issue/RFE has been fixed.The release containing this fix may be available for download as an Early Access Release or a General Availability Release. Net Worth Requirement $350,000 . Previously with Papa Johns International as the Vice President, Global Digital Technology, Michael is a seasoned technology executive with vast engineering and operations expertise, leadership, and a deep understanding of digital technology and guest experiences. So more knowledge about our great food offerings is something that I would change a little bit. An offering can only be made by prospectus filed first with the Department of Law of the State of New York. Tropical Smoothie Cafe CEO Charles Watson admits that his brand isn't always at the leading edge when it comes to technology innovation. Well, we just talked about Camp Sunshine and we have a smoothie called the Sunshine Smoothie that is orange and mango based. 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. 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. TropicalSmoothie.com. 13, 2021, 08:36 AM. 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. This information appears in Item 19 of our Franchise Disclosure Document. There is no assurance that you will do as well. Were any of the franchisees reluctant to follow the system or embrace a new direction? we dont want to go to Manhattan and open 30 locations. And at Tropical Smoothie Cafe, we really focus on the fresh ingredients. 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. Complete the form or call.