In this FDD Talk 2016 post, you’ll learn the following:
- Section I – Background information on the Edible Arrangements franchise opportunity, including relevant news updates
- Section II – Estimated initial investment for an Edible Arrangements franchise, based on Item 7 of the company’s 2016 FDD
- Section III – Presentation and analysis of Edible Arrangements’ financial performance representations, based on Item 19 of the company’s 2016 FDD, including information on the:
- 2015 average gross sales for the franchised Edible Arrangements Businesses in the United States that were open and operating for more than 3 years as of December 31, 2015
- 2015 average gross sales for the franchised Edible Arrangements Businesses in the United States that were open and operating for at least 2 years, but less than 3 years, as of December 31, 2015
- 2015 average gross sales for the franchised Edible Arrangements Businesses in the United States that were open and operating for at least 1 year, but less than 2 years, as of December 31, 2015
Section I – Background Information
Edible Arrangements is going beyond its signature fresh-fruit arrangements and fruit-starring gift items – which are meant for customers to give to other people – as it introduces a new concept designed for people on the go to buy for themselves.
Edible to Go, which has already been implemented at 270 of the company’s more than 1,300 worldwide stores, is a counter service providing customers with high-quality smoothies, Froyo Fruit Blends, parfaits, fruit salads and more. The products are made using fresh fruit.
The chain showcased the Edible to Go concept in July 2016 at the grand opening of its flagship store at the company headquarters in Wallingford, Connecticut. Among those attending were Gov. Dannel P. Malloy.
Edible to Go ‘Will Remake the Brand’
Company President Rob Price told the New Haven Register during the event that Edible to Go “will remake the brand.”
“We expect all of the locations will have this within three or four years along with the new stores we bring on,” he said. “Having this location in our headquarters allows us to come downstairs and see customers’ reactions for ourselves. You can’t beat that kind of feedback.”
Price said the biggest difference between Edible to Go and other chains that sell fruit smoothies or frozen yogurt with fruit is that most of the brand’s competitors use frozen fruit.
Chain Puts Fruit in Flower Setting
Edible Arrangements specializes in decorative yet edible fresh-fruit arrangements, combining the beauty of floral arrangements with the taste sensations of baskets of fruit.
Customers can purchase fresh-fruit arrangements for many occasions in a variety of sizes and prices and featuring many different types of fruits carved into attractive and vibrant floral shapes and other designs.
The company also sells premium chocolate-dipped fruits and a number of other specialty gift items. Chocolate is also often featured in the fruit arrangements.
Fruit Mocktails are among newer offerings, with cocktail-inspired fruit arrangements served in cocktail glasses. Customers can also get smoothies in coordinating flavors.
Chain Founded by Connecticut Brothers
Edible Arrangements was founded in 1999 by Tariq Farid and his brother Kamran Farid, who opened a store in East Haven, Connecticut. The business, which started franchising in 2001, has grown to include more than 1,200 stores around the world, 62 in international locations.
Tariq Farid is the company’s CEO. He bought his first flower shop at age 17 for $5,000, which he borrowed from his parents, and had four stores within two years. After seven years as a florist, he came up with the concept of edible bouquets.
Tariq Farid was inducted into the Junior Achievement of Southwest New England Business Hall of Fame in Hartford, Connecticut, in April 2016 and received an Outstanding 50 Asian Americans in Business Award in June 2016 at a Manhattan gala hosted by the Asian American Business Development Center.
Edible Arrangements Rises to No. 35 on Franchise 500
Edible Arrangements was No. 35 on the 2016 Franchise 500 list by Entrepreneur, its highest rank yet. The company shot up from No. 180 in 2006 to No. 53 in 2007 and has been in the top 50 ever since.
Edible Arrangements also ranked 57th in Entrepreneur’s 2016 Top Global Franchises list. The chain was No. 8 in Forbes’ list of Best Franchises to Buy in the Medium Investment Level ($150,000 to $500,000).
The company has had better than 15 percent new store growth over the past three years.
Section II – Estimated Costs
- Please click here for detailed estimates of Edible Arrangements franchise costs, based on Item 7 of the company’s 2016 FDD (updated).