According to Edible Arrangements founder Tariq Farid, it takes a great concept, insane attention to detail, and lots of handholding.
Tariq Farid didn’t start out trying to become a franchiser. He just hoped to start a successful retail business selling bouquets made from cut-up fresh fruit. But from its earliest days, Farid’s business had at its core what every successful franchise needs: a concept.
For a year before opening the first Edible Arrangements, in 1999, Farid worked on perfecting his idea of edible bouquets. He tested different fruit-cutting equipment to find what would best transform cut pineapples, honeydew, and cantaloupe into attractive flowerlike petals and decorative leaves. (And Farid knows his flowers: He started the first of four floral shops when he was 17.) He produced brochures and took his own photos to create mouthwatering shots for a website whose details he paid as much attention to as he did to the store itself. Most important, he says, he settled on a brand image well before opening day. “One of the best things I ever did starting out was hire someone to have a proper logo designed,” he says.
The back office wasn’t overlooked, either. Farid, a computer geek at heart, had previously built a software system for his floral stores. Using that know-how, he installed a system for Edible Arrangements that could track the status of online orders and would also record buying patterns, so he could follow up with smarter customer service.
The advance work paid off. Within a year of opening in East Haven, Connecticut, the store brought in $192,000 and turned a profit. In Year Two, revenue doubled. Farid believes the tracking system helped boost his numbers by increasing repeat business — nearly 85 percent of those who placed an order came back for more. Continue reading this article.