2 Fat Tuesday Franchise Alternatives For 2022
Do you want to have a cup of frozen alcohol when you are out traveling or simply shopping if you are eligible? Fat Tuesday Franchise is there to provide you with that leisure.
Founded in 1983, Fat Tuesday is the largest off-premise and takeaway alcohol business in the US specializing in frozen drinks. It has 61 company-owned locations and 23 franchise locations. Most of the stores are located in the warmer geographies in the United States, travel destinations, entertainment districts, and outdoor malls.
In its nearly forty years of history, Fat Tuesday is poised for rapid growth in 2022, with over 25 new locations in development. This growth is the result of the acquisition by Garnett Station Partners, which in turn ends the opportunities for the Fat Tuesday franchise. In April 2021, Garnett Station Partners acquired Fat Tuesday and immediately made several strategic investments to accelerate growth, including the hiring of a new management team led by CEO Alex Macedo who was previously the president of Burger King of North America. Recently on June 14, 2022, Fat Tuesday announced that it had closed on a New Senior Secured Credit Facility provided by Comvest Credit Partners, providing essential capital to accelerate the growth.
Two Alternatives in the Frozen Drink Franchise
1) Frozen Vibes
Frozen Vibes is a whole new company founded in 2019 in Houston, Texas. Customers quickly lined up and in 2022, Frozen Vibes launched its second location in Humble, Texas. It is now actively expanding through franchising opportunities!
As a trailblazer in the frozen daiquiri and cocktail to-go industry, Frozen Vibes has proved it a recession-resistant industry. The easy-to-implement business model with a simple operating system and innovative concept is worth a try.
Compared to other businesses, the total initial investment necessary to begin operation is relatively low, which is between $100,763 and $148,823, including a franchise fee of $20,000. Ideal applicants should have liquid capital of $50,000 and a net worth of $100,000. There are certain states that are available for franchising, including Texas, Louisiana, Mississippi, Georgia, Florida, Arkansas, Oklahoma, Arizona, Kansas, Colorado, Missouri, Nevada, District of Columbia.
2) Wet Willie’s
Wet Willie’s is a concept that has developed strong brand recognition and has a thirty-two year track record. Wet Willie’s produces superior frozen daiquiris from the mix of premium alcoholic beverage products with unique, high-quality flavors.
Compared to Frozen Vibes, Wet Willie’s has a higher initial investment fee between $716,500 and $1,608,000, including a $35,000 initial franchise fee. Additionally, there is a 5% royalty fee based on weekly sales and a 2% advertising fee based on annual sales. The ideal applicant should have a net worth of a minimum of $1 million and liquid assets of $500,000.
Summary
As we are anticipating the rapid growth of Fat Tuesday through the acquisition by the Garnett Station Partners, we are hoping Fat Tuesday comes back with its franchising opportunities in this innovative concept industry.
However, currently, you can switch gears and consider the other two alternatives. If you are a newbie in the industry and without much net worth, Frozen Vibes can be your first stop. If you are already an experienced franchisee looking for an innovative concept, Wet Willie’s can be your next stop!
