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Smoothie King Selects BoeFly To Assist Its Franchisees In Obtaining Bank Financing
Nutritious smoothie franchisor to offer BoeFly’s Concierge Team Services to its franchisees nationwide.
Nearly half (49.2%) of the respondents in a recent survey by the International Franchise Association (IFA) of its members identified “financing/
Smoothie King began with one man, Steve Kuhnau, altering his eating habits to remedy his allergies and low blood sugar. He experimented with blending real fruits, proteins and other vitamins, and in no time, his health improved. By 1973, Kuhnau turned his concoctions into a business and opened Smoothie King, a health food store selling vitamins and healthy drinks. In July 2012, Smoothie King Co-founders Steve and Cindy Kuhnau sold controlling interest of the Louisiana-based company to SK USA, Inc., headed by CEO Wan Kim. Today, Smoothie King operates more than 600 locations in the continental U.S., the Cayman Islands and the Republic of Korea.
“At Smoothie King, we aim to provide quality, nutritious alternatives to everyday unhealthy food choices,” said Smoothie King Global CEO Wan Kim. “With BoeFly’s service, our franchisees can focus on the quality of their products and services and worry less about financing their locations.”
“Today even top franchisors face a significant challenge – converting otherwise qualified franchisee candidates into ongoing, paying customers because of the difficulty they have accessing capital” said Mike Rozman, Co-president of BoeFly. “Franchise lending has been down by as much as 40% in the past two years due in part to the inefficiencies in the lending process that have been exposed by the financial crisis. BoeFly eliminates these inefficiencies by connecting franchisees with banks that are ready and willing to lend.”
About Smoothie King Franchises Inc.
Smoothie King is the premier Smoothie Bar and Nutritional Lifestyle Center in the industry. Smoothie King offers guests the original nutritional fresh-blended smoothie and healthy retail products, including sports beverages, energy bars, healthy snacks, vitamin supplements, herbs, minerals and other sports nutrition products. Smoothie King opened its first location in 1973 and started as the first franchised smoothie bar / health food store in the United States in 1989. Smoothie King currently has more than 600 units operating in 32 states, the Caymans and the Republic of Korea. In 2011 Smoothie King was ranked # 1 by entrepreneur magazine in the juice bar category for the 18th year, #70 overall on the 2011 Franchise 500 list and honored as part of the QSR Global 30.
Visit www.smoothieking.com; engage on Facebook www.facebook.com/
BoeFly makes it easier to obtain small business loans (http://www.boefly.com/)
Borrowers build a complete decision-ready loan request online using BoeFly’s exclusive “SmartForm”
BoeFly, now a strategic ally of the International Franchise Association to expand credit access within the franchise community (http://www.boefly.com/
BoeFly’s Affiliate Solution is the financing exchange chosen by the Association of Small Business Development Centers, representing approximately 1,000 centers nationwide, which are funded in part by the U.S. Small Business Administration, to serve small businesses, and Franchise Gator, the leading site for information on franchise opportunities.
BoeFly was founded by small business owners and small business lending experts with extensive small business lending experience. The company is privately-held and is based in New York City. http://www.boefly.com.
Bill Fallon/ Keating Co. /212.925.6900/