Privately held franchise brand says same-store sales rose 11.5% in 2023
Smoothie King Franchises Inc, while privately held, has released some 2023 sales figures, saying it saw same-store sales increase 11.5% and positive traffic growth for the year.
The Dallas-based company, which ended the year with about 1,100 locations, also forecast it would add 100 units in 2024. New markets are expected in Massachusetts, Minnesota, New Hampshire, and Utah.
Wan Kim, Smoothie King CEO, said in a statement that 2023 included “the highest sales period in our 50-year history in Q3 as well as one of our largest new-development quarters in seven years during Q4.”
During 2023, Smoothie King expanded its menu with smoothie bowls.
“As we look back on menu innovation from the year, we are incredibly proud to have become one of the country’s largest smoothie bowl destinations through the introduction of our eight smoothie bowls, allowing us to further the ‘clean blends’ promise and our mission of inspiring a healthy and active lifestyle,” Kim said.
The company reported 189 new store commitments were added to the development pipeline in 2023, marking Q4 2023 as its largest signings quarter since 2017 with 39 franchise agreements and 20 area development commitments.
Smoothie King Franchises was founded in 1973.
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