Introduction
Pure Green is a juice bar franchise. The menu includes cold-pressed juices, cold-pressed juice shots, acai bowls, pitaya bowls, superfood smoothies, and superfood-infused oatmeal bowls. The business has over 100 locations open or in development. Pure Green founder Ross Franklin is a crowdfunding veteran. This is his second raise on Republic. We sat down with him to discuss major updates since the last raise, plans, and more.
Olivia Strobl
We have seen you raise capital online before, can you remind us what you are working on?
Ross Franklin
You might recall our successful capital raise on Republic in June 2020, where we reached our funding cap of $1,070,000. Since then, our valuation has been on a steady growth trajectory, doubling each year and effectively doubling the value of our investors’ initial contributions annually. Our commitment to transparency and regular investor updates has fostered a strong investor community, who have encouraged us to launch another round on Republic. As a result, we are now raising additional capital for Pure Green on Republic, allowing both previous and new investors to support our journey.
Olivia Strobl
What major updates can you report since your last raise?
Ross Franklin
I’m excited to share that Pure Green Franchise has consistently been recognized as the Top New and Emerging franchise by Entrepreneur Magazine in 2022 and 2023. Our revenue has been robust, surpassing a million dollars per month across our entire system, and our network has expanded to over 100 locations, either operational or in the pipeline, across more than 15 states.
Here are some key milestones we’ve reached since our last raise:
Expansion: Our presence has grown from 3 to over 100 locations, each contributing an average revenue of $743,429. Our top-performing location has generated a staggering $1,463,884.
Franchisee Engagement: Our mission of promoting healthier communities has struck a chord with our franchisees, driving their engagement and dedication.
Company-Owned Stores: Our portfolio now boasts 9 stores that the company directly owns.
Franchise Systems & Processes: We’ve designed top-tier systems and processes that optimize operations for our franchisees.
Intranet Development: Our franchisees now have access to a dedicated portal complete with training and development modules, greatly simplifying and expediting the onboarding process for new team members.
Wall Street has Morningstar, S&P, and Bloomberg
The equity crowdfunding market has KingsCrowd.
Olivia Strobl
Are you planning to expand internationally?
Ross Franklin
We’re on the cusp of introducing Pure Green globally. Currently, we are in advanced talks with several major groups in the Middle East, and are nearing the finalization of two significant contracts for over 30 units each in the UAE and Kuwait. This international expansion will fuel our growth and fast-track our goal of establishing 1,000 units.
Olivia Strobl
Why are you raising capital right now?
Ross Franklin
Our current fundraising efforts aim to enhance our support for our franchise partners. With the addition of 10 new franchise partners just last month, now is the ideal time to invest in bolstering our support for both existing and future partners, and to fuel our continued growth.
Olivia Strobl
What do you see as potential exit opportunities?
Ross Franklin
If we take a cue from industry trends, we note that Cava, for instance, went public when they hit a store count of 250, and their IPO was highly successful. Given our current growth rate, we are set to reach a similar store count in roughly two years, which makes the prospect of going public around that time quite feasible. While we can’t predict with certainty what lies ahead, our unwavering commitment to building a world-class company and fostering healthier communities globally is something we are steadfastly committed to.
We look forward to seeing where Ross and his team take the company. Pure Green is currently raising on Republic
About: Olivia Strobl
Olivia comes to KingsCrowd with a background in venture capital and technology. She spent time at Glasswing Ventures, an AI-focused venture fund in Boston, before joining the KingsCrowd team. There she helped develop machine learning algorithms for the opportunity qualification of preseed and seed-stage startup companies. Prior to her time at Glasswing, Olivia worked in a lab studying the neural correlates of attention. She holds a degree in Neuroscience from Wellesley College.