COVID-19 Crowdfunding for Franchise Expansion

4 Min Read By MRM Staff

New York City-based juice and smoothie chain Pure Green had just embarked on a crowdfunding campaign through Republic.co to fuel franchise expansion when the global pandemic took hold of the world.Surprisingly, the campaign is currently 645-percent funded with 50-plus days still to go. Founder and CEO Ross Franklin attributes the sudden spike to the recent stock market collapse, believing people are seeking more stable, long-term investments, and finding a solution in crowdfunding campaigns.

Once the campaign ends in June 2020, Pure Green will use the funds to support operations, staff, and eventually open new franchise locations in Chicago, Orlando and Philadelphia. The brand, which first opened its doors in 2014, currently has five locations in New York City.

Modern Restaurant Management (MRM) magazine quizzed Franklin on franchising at this time, crowdfunding and expansion plans in light of the COVID-19 outbreak. 

Why did you decide to take Pure Green the franchise route?Our…