- Posted June 13, 2014 by
Soupman Inc. to Roll Out Opportunities at International Franchise Expo
Globe Newswire reported that the maker of Original Soupman, Soupman Inc. will be attending the International Franchise Expo (IFE) in New York City from June 19-21. Soupman will be appearing in the expo to showcase its inventive products for potential franchisees.
"The past year has been an exciting time for our brand, with new initiatives and partners coming on board to enhance our franchise experience, Lloyd Sugarman, CEO of the Original Soupman said. He added, "We look forward to showcasing our brand's flexible footprint, superior menu and experienced support team to IFE attendees From the food truck revolution to full scale delicatessen, we are confident that our brand offers immense opportunities to entrepreneurs nationwide."
Among the franchise opportunities, Soupman has launched for the past six months, were the Soupman's Famous New York Delicatessen & Restaurant and the food truck business.
Sponsored by the International Franchise Association, (IFA), the expo is an annual event that brings together business owners and entrepreneurs. It provides the attendees franchise opportunities. According to the IFA website, the association promotes 825,000 franchise establishments which spur at least 18 million jobs and an output of $2.1 trillion in the U.S. economy.
Based on IHS, an interbrand data provider, franchising industry is proven to withstand recession and create jobs faster. It said that compared to the rest of the economy, franchise industry is growing faster.
Franchise industry's gross domestic product (GDP) is expected to grow to up to five percent in 2014, compared to 2013. The statistics showed that this translate to $21 billion or 3.5 percent of all U.S. GDP.
IHS Senior Economist Jim Gillula, in a statement in IFA website stated, "The fundamentals for solid growth of the franchise sector in 2014 remain strong. Income, consumer confidence and spending will all be stronger in 2014 than 2013, and both housing starts and existing home sales are expected to accelerate following a weak first quarter."
By 2014, franchises are expected to create 200,000 new jobs while employment from franchise will outgrow private sector employment growth by 0.3 percent. Businesses from franchise will be increasing by 12,915 totaling to 770,368 establishments in 2014. The 2014 establishment growth rate will be up to 1.7 percent this year compared to 2013 growth rate of 1.4 percent. Quick service restaurants are still the largest sector in franchising and are expected to create 75,596 new jobs.
Soupman's franchise is unique and is expected to be successful in a number of venues from airports, to casinos, storefronts and street fronts.
Soupman's Famous New York Delicatessen & Restaurant, an extension of The Original Soupman storefront serves authentic NY delicatessen dishes including Al's 42 St. Ruben, Thanksgiving Day parade fresh sliced pastrami, corned beef and lobster rolls. The brand joint also partnered with former NBA player Shaquille O'Neal to be part of the company's franchised SoupMobile.
The food truck business, according to Forbes is a "viable business opportunity. A survey by Ibis World showed that in 2009, the food truck industry generated $1.2 billion in revenues. It has an annual growth of nearly 8.4 percent from 2007 to 2009.
The report added that close to 16,000 individuals are servicing food using trucks and the sector is gaining more and more popularity. It also cost less to put up a food truck business, amounting to at least $70,000 compared to opening a space that may cost as high as $300,000, said the article.
Soupman, opened its franchise in 2005 and sells soups in innovative Tetra Pak packaging in the grocery stores, New York City schools, and franchised restaurants. According to latest IFA record, Soupman has 15 units of franchise.
Soupman, in partnership with Tetra Pak, has revolutionized soup packaging by selling its product in a well-established, well proven and accepted form. Ideally suited for a grocery store purchased and domestically consumed foodstuff product that fits in well with the convenience food market that is booming.
Traders and investors are looking into several companies under the $500 million market capital. According to a Forbes article, OTC markets trading have increased to 40 percent. The increase of trading of penny stocks through April 30 has reached $23.5 billion compared to 2013.
One of the penny stocks included in the list of Most Exciting New Franchise, is Barista Coffee Company Inc (OTC:BCCI) Barista is one of the food industries doing well in the OTC market and offering franchises to entrepreneurs.
Barista's share as of June 13 was at 0.12 a share. Like Barista, Soupman Inc. is doing well as a penny stock, as of June 13, the price per share is at 0.34.The volume it is trading averages 48,358. Its revenue has tripled in three years.