Freep.com:
Zoup Fresh Soup Co. of Southfield celebrated 10 years in business by doubling its franchises.
The company, founded in 1998, now owns and operates six stores and has 15 franchises in Michigan, Ohio and Pennsylvania. Zoup CEO and cofounder Eric Ersher said Zoup awarded 29 franchises in 2008 and many are opening this year. That will extend the brand to Connecticut, New Jersey and Indiana.
And while the recession has pinched a number of restaurants, Ersher says sales rose 7% last year to $9.1 million after increasing 25% a year for the previous two years.The fast-casual restaurant chains like Zoup, which are between a sit-down restaurant and fast food, outperformed the restaurant industry as a whole, according to a report from Technomic, a consultant.
Fast-casual chain sales grew by 13.3% in 2007 compared with a 5% sales boost in the overall restaurant industry.
Franchisees must have a net worth of $300,000 with $100,000 liquid. The franchise fee is $54,000 and annual fees are 6% of gross sales, he said.
“We are looking at an additional 30 franchises for 2009, and our goal is to double that in 2010,” Ersher said.
Logo from Zoup!