The new program will allow select candidates to earn equity toward ownership of their own Edible store
Fresh fruit arrangement and treats franchise, Edible, has created a new path to franchise ownership with the launch of its manage-to-own program.
The program is for individuals wishing to be “hands-on” operators and eventually join Edible’s rapidly-growing global team of franchisees, but who may lack much of the capital needed to open an Edible store.
For an initial investment of only $30,000, a manage-to-own candidate is granted operational control over an Edible franchise with the ability to acquire full franchise rights over time.
After paying the initial franchise fee, participants selected for the program will participate in Edible’s 90-day franchisee training program. Upon completion of training, they will take over operations of an Edible location and will have access to all resources, support, and business tools available to Edible franchisees.
“Our founder immigrated from Pakistan to the United States as a child, then opened his first store as a teenager, so we not only understand that power of the American Dream but also recognize the realities around the need for funding to pursue that dream,” said Cheikh Mboup, president and COO of Edible. “Fortunately, he had a family friend who was willing to help him launch the vision that later became Edible. Now, 20 years later, we’re paving the way for more aspiring, motivated entrepreneurs to take control of their destinies. There are many who have the skills to succeed yet may not have access to the financing they need to get started. This is an amazing opportunity and we’re honored to share it with future generations of business owners.”
Edible is in the process of interviewing and selecting individuals to participate in the program. Once accepted, trainees will have the advantage of entering a franchise system with significant momentum. Same-store sales for the brand are up 8.7 per cent YTD, and Edible has experienced 61 per cent same-store growth for the month of April.
The brand also just recorded its most successful Mother’s Day holiday in company history.
“Given the current rate at which Edible is growing and evolving, there has never been a better time to join this organization, and I can’t imagine a better path for doing so than through this manage-to-own program,” said Mboup. “With sales steadily increasing across our network, this opportunity can serve as the launching pad for the pursuit of the American Dream, with an established and reputable brand, without breaking the bank.”
While this will be an ongoing initiative, there are a limited number of slots available for 2020, and applicants will be considered on a first-come, first-served basis.