The economic downturn didn’t sour business for Edible Arrangements. Instead, the chain of fruit-arrangement shops just kept expanding at a rapid clip throughout the recession. The Connecticut-based company opened 74 new franchisee-owned shops in 2009 alone, and another 43 franchise locations have opened so far this year.
In contrast, CEO Tariq Farid said only 20 locations have closed since the start of 2008. The rapid expansion leaves the company with about 950 locations among 11 countries, including 46 shops in Massachusetts – after starting about a decade ago.
The downturn didn’t seem to discourage consumers from buying the Wallingford, Conn.-based company’s colorful arrangements of skewered pineapples, melons and strawberries – even though the prices typically range from $34 to $200.
“The best time to start a business is when there is a downturn, you get great (interest) rates, and the build-up costs are low,†Farid said.
