The Franchise Chatter Blog’s List of 24 Things Every Prospective Franchisee Needs to Know Before Investing in an Edible Arrangements Franchise
Edible Arrangements Product Offerings
1. Edible Arrangements created the category of edible fresh fruit bouquets and is still its undisputed leader. They are known for their large selection of fresh fruit arrangements that make impressive gifts for any occasion or holiday. Each bouquet can be complemented with chocolate dipped fruit, including dipped strawberries, dipped pineapple daisies, dipped banana slices, dipped Granny Smith apple wedges and more.
2. Their fresh fruit arrangements are always made-to-order. Customers can order ahead of time or stop by during regular hours for arrangements on-the-go.
3. They’ve recently expanded their offerings to include products that customers can enjoy on a daily basis (“little celebrations”), such as fresh fruit juices, smoothies, fruit salads, and dipped fruit. The goal of this product diversification is to increase store foot traffic and brand exposure.
4. The chocolate covered fruits at Edible Arrangements are made of freshly cut fruit that’s been hand-dipped in gourmet chocolate by one of their Fruit Experts. These come in boxes of 6 or 12 pieces in a number of varieties.
5. Customers of Edible Arrangements can create their own fresh fruit salads, enjoy a parfait (layers of fresh fruit, low-fat yogurt, and granola), or indulge in a FruSundae (fresh fruit salad topped with hot fudge, whipped cream, and nuts) or Banana Cream Pie FruSundae (sliced bananas, white chocolate sauce, and whipped cream with shaved coconut).
6. The beverages sold at Edible Arrangements are made with fresh cut fruit, fresh squeezed juice, and are sweetened with agave, making them all-natural. They come in the form of smoothies, coolers, and juices.
Edible Arrangements Business Model
7. Franchisees generate revenues from multiple channels: namely, online purchases made worldwide, toll free calls at 877-DO-FRUIT, local calls, and in-store orders (which customers can pick-up or have delivered).
8. Edible Arrangements emphasizes presentation and quality. The company recognizes the customer’s desire to send a gift that leaves a lasting impression, so they craft each arrangement with care to make it “WOW-worthy” and use only fresh fruits that meet their high standards of quality, with no preservatives or additives.
9. Edible Arrangements also focuses on customer service and convenience. Their retail stores are now open 7 days a week, offering same day delivery every day. Stores are open until 7pm on weekdays, 5pm on Saturdays, and open on Sundays, too.
10. Edible Arrangements’ stores are designed to be fun, fresh, and inviting, with beautiful decor and a friendly atmosphere, where customers can stop in any time to sample chocolate dipped fruit. And their Edible Arrangements-Frutation locations serve fresh fruit beverages and fresh fruit salads, too.
11. Edible Arrangement’s DippedFruit.com shipping centers, located in select Edible Arrangements stores across the U.S., can deliver “The Best Shipped Fruit, Period” directly to the customer, anywhere in the U.S.
Edible Arrangements Franchise History and Growth
12. Tariq Farid, Edible Arrangements’ founder and CEO, opened the company’s first store in East Haven, CT in 1999. Tariq’s background is in the flower industry, having owned a small chain of flower shops in the late 1980’s. With a $5,000 cash advance from his parents, he purchased a local flower shop at age 17. Within two years, Tariq was operating four highly successful stores.
13. Edible Arrangements opened their first franchise location in Waltham, Massachusetts in 20o1. Just ten years later, the company has grown to 1044 locations in 14 countries.
14. Edible Arrangements just launched an aggressive two-year expansion plan. The company’s goal is to open 150 new stores in 2011 and 200 more in 2012. The company opened 84 new stores last year and reached the 1,000 mark earlier this year. Many of the company’s new stores will be built around the “Edible to Go” concept, in which franchisees, besides offering made-to-order fruit arrangements, will also sell fresh salads, parfaits, and smoothies.
Edible Arrangements Franchisee Training and Support
15. Training for new franchisees comes in 3 phases. The first phase is done at a training store. The second phase takes place at Edible Arrangements University at the company’s headquarters in Wallingford, CT. The final phase happens at the franchisee’s new store location with an Edible Arrangements field representative on hand to assist.
16. From the extensive training program, franchisees will learn how to process orders from all channels, stay on top of inventory, and manage staff and customer transactions.
17. Edible Arrangements’ proprietary e-Learning software, with its real-time training updates, makes it easy for franchisees to continue learning and to train new employees
18. In 2001, Tariq Farid founded Netsolace, the company that created the franchise management software that Edible Arrangements’ franchisees use in their day-to-day operations, including order processing, training manuals, production and profitability tracking, and supply chain management. This software makes it easier for franchisees to run their business from within a store or manage multiple stores remotely.
Edible Arrangements Franchise Cost
19. The total initial investment for an Edible Arrangements franchise ranges from $142,208 to $285,218.
20. The initial franchise fee is $25,000 and the monthly royalty is 5% of gross sales.
21. The minimum net worth requirement for a prospective franchisee is $500,000, of which the franchisee must be prepared to invest $250,000.
22. Edible Arrangements has several third party partners that can provide assistance in the financing of a store. In most situations, these partners require the cash injection of $80,000 to $100,000, a credit score of 675+, and a net worth of $500,000 to qualify for a loan.
Edible Arrangements Franchise Accolades
23. In 2001, Entrepreneur Magazine ranked Edible Arrangements #49 in their Franchise 500 list, #32 in their list of Fastest Growing Franchises, and #43 in their list of America’s Top Global Franchises.
24. Forbes Magazine named Edible Arrangements one of the Top 20 Franchises to Start in 2011 (9th place).