Vegan cinnamon roll company Cinnaholic is eyeing Central Jersey in its expansion plans, the brand announced Aug. 25.
The Shark Tank alum has two New Jersey locations, one in Westfield and one in Sea Girt, since it launched in the state in 2019. Nationwide, 54 locations are open and 60 are in development.
“Our franchise model has proven successful time and time again and we are excited to continue the momentum as we look to excel growth focusing on Central Jersey,” said Spencer Reid, president of Cinnaholic, in a prepared statement. “Last year was an extremely successful year in terms of franchise development and systemwide gross sales growth overall by of 29%, further emphasizing Cinnaholic as a brand with incredible staying power.”
Cinnaholic franchisees are provided extensive corporate training as well as real estate, construction, operations, marketing and grand opening support. Franchisees must have a minimum net worth of $500,000 and meet the minimum liquid assets requirement of $200,000.