EDIBLE ARRANGEMENTS®  BLOG

CEO Tariq Farid

January 26, 2011

Edible Arrangements to Open 1,000th Store

WALLINGFORD — Edible Arrangements, which specializes in “floral” arrangements made of fresh fruit, has signed its 1,000th franchise agreement, company officials announced.

The company said it is not yet known where the 1,000th franchise will open, but the agreement with its franchisor has been finalized.

“We started franchising in 2001 and the continuous growth of Edible Arrangements has been very exciting,” company founder and Chief Executive Officer Tariq Farid said in a statement. “We are thrilled to have met our goal of signing our 1,000th store before year’s end.”

The chain is coming off a successful 2010, he said, attributing the company’s strength to “our proven franchise system; healthful, high-quality products; and our franchisees.”

Last year, Edible Arrangements opened 84 U.S. stores, nine international ones and signed commitments for 123 new locations.

Store openings are planned over the next several months in San Francisco, Massachusetts, North Carolina and Utah. Also this quarter, locations will open in the United Arab Emirates, Qatar, India, Saudi Arabia, Turkey, Jordan and Italy.

“We look forward to evolving our brand and company further in 2011,” Farid said.

The chain now has more than 1000 open locations and serves consumers in 11 countries outside the United States and Puerto Rico.

Company officials are aiming to put additional deals in place to bring new franchises to Minnesota; Los Angeles; New York City; Washington, D.C., and Marin County in California.

In addition to adding more locations, the company is focusing its strategy partly on cultivating existing franchisees into multiple-location owners, according to co-founder and Chief Operating Officer Kamran Farid

The company’s website estimates the total initial cost of opening a franchise is between $152,980 and $299,257. That includes an initial $25,000 franchise fee paid to the company, as well as expenses such as rent, equipment, inventory, insurance and grand opening marketing.

As part of its growth strategy, Edible Arrangements last year introduced more “male-focused” items, company officials said, such as fruit arrangements featuring licensed Harley Davidson logos and NASCAR drivers and logos.

Edible Arrangements was founded in 1999 in East Haven by brothers Tariq and Kamran Farid.





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