Cold Stone Creamery, one of the fastest-growing ice cream franchises in the nation, announced last week development plans for expanding franchise operations in Rhode Island. The company currently has one store open in Newport, and currently has another three stores awarded in the Ocean State. Cold Stone Creamery has plans to open two stores in 2005 and 12 additional Rhode Island stores are projected to open in the next three to five years.
“We’re delighted to bring our smooth and creamy ice cream to Rhode Island,” said Cold Stone Creamery Area Developer Steve Brewster. “Our current store has been extremely well-received by the people of Newport and we’re looking to give more ice cream lovers in the area a chance to indulge.”
The company is hosting an informational seminar on April 27 at the Newport Harbor Hotel and Marina to educate local investors of the entrepreneurial opportunity. Entrepreneurs and investors interested in ice cream are encouraged to contact Brewster at 201-575-0766. Space is limited and reservations are required to attend.
Boasting $405,000 in annualized average unit volume, the highest of any super-premium ice cream concept, Cold Stone Creamery 2004 system-wide revenues exceeded $283 million, up 86 percent from $156 million in 2003.
Cold Stone continues to set growth records and maintain its position as the nation’s fastest-growing super-premium ice cream concept. Cold Stone was ranked No. 12 in Entrepreneur magazine’s “Fastest Growing Franchises in America” (January 2005), and No. 4 in Restaurant Business magazine’s “Top 50 Growth Chains” (July 2004). In 2004, Cold Stone opened 362 new stores and has another 414 slated to open in 2005.
The secret recipe for smooth and creamy ice cream is handcrafted fresh daily in each store, and then customized by combining a variety of mix-ins on a frozen granite stone. With nearly 1,000 stores from coast to coast, Cold Stone Creamery currently operates in 47 states including Alaska, Hawaii, the Caribbean and Guam. Cold Stone Creamery is an independently owned franchise system, headquartered in Scottsdale, Ariz.
