Cinnaholic announced today a strategic growth plan as it continues to expand into new markets in 2019. The announcement comes on the heels of the gourmet bakery being named to Entrepreneur magazine’s Franchise 500 list, considered the world’s first, best and most comprehensive franchise ranking. Making the list for the first time, Cinnaholic has been rated number 482 in the Quick-Service Restaurant section in the “baked goods” category. This is a notable indicator of the concept’s 2018 growth, prospects for continued expansion and attractive investment opportunity.
The prestigious award validates the progress the company has made in the past year. In 2018, the brand almost doubled its presence by opening more than 17 locations, bringing the total to 30 bakeries open today. The gourmet bakery chain opened stores across key domestic and international markets in 2018, including Toronto, Charlotte, Seattle and Dallas/Fort Worth. With over 100 units currently in development throughout North America, Cinnaholic has no plans to slow down growth as it “rolls” into the new year.
“We are honored to receive this ranking,” says Spencer Reid, president of Cinnaholic. “We look forward to building upon this growth in 2019, as we form new relationships, expand into new markets, and offer our existing franchisees continued support. We had such great success last year and can’t wait for another year full of openings and new partnerships.”
As Cinnaholic sets its sights on continued growth in 2019, it is seeking out qualified single-unit and multi-unit investors in a range of market sizes throughout the United States and Canada, including Houston, Chicago and Vancouver, to name a few. The flexible business model works well in upscale lifestyle centers, major city centers and near college campuses. A notable contributor to franchisees’ success is the relatively low cost of owning and operating a Cinnaholic location, specifically the small footprint (around 1,000 square feet) and low food and labor costs.
As a gourmet bakery using only the highest quality plant-based ingredients, Cinnaholic’s success is rooted in its alignment with today’s conscious consumption trends. As consumers lean increasingly towards organizations with which they share core values, the brand is uniquely positioned for continued growth in 2019 and beyond.
During its 40 years in existence, the Franchise 500 has become both a dominant competitive measure for franchisors and a primary research tool for potential franchisees. Cinnaholic’s position on the ranking is a testament to its strength as a franchise opportunity. The key factors that go into Entrepreneur’s evaluation include costs and fees, size and growth, support, brand strength, and financial strength and stability. All franchises are given a cumulative score based on more than 150 data points, and the 500 franchises with the highest cumulative scores become the Franchise 500 in ranking order.
