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Boost signs $1.6m deal to launch in India in early 2012 as Joost Juice Bars
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Friday, 30 September, 2011, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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A $1.6 million deal to launch Boost in India will see five juice bars opening in 2012, with a total of 100 stores opening over a period of five years throughout India. Localisation will see Boost trade as Joost Juice Bars in India.
Boost founder Janine Allis and executive team Scott Meneilly, general manager, and Olivia Elsley, general manager, international, have finalised the master franchise agreement with entrepreneurs Rivoli Sinha and Dev Agarwal, the directors of Joost Food Ventures Pty Ltd.
“India is an amazing country and an exciting next step for Boost’s growth. With a population tipped to be bigger than China by 2030 it is a critical market to have a strong presence in if we are to continue to be a major player in the global juice and smoothie market,” said Meneilly.
Lead by Sinha and Agarwal, Joost Food Ventures stakeholders have direct links to the 35-year-old family run SIS Group Enterprises. The SIS Group are currently the fastest growing security enterprise in India with over 52,000 employees. They are experienced franchisors acquiring the master franchise for service master in India, and with operations in India and Australia they are the largest manpower security business in the Asia-Pacific region.
Sinha and Agarwal are excited to secure the Boost master franchise for India saying, "For years we have noticed a tremendous potential in the Indian market for fresh & healthy drinks, and there is no brand filling this market demand. Boost is a perfect brand to bring to India as the range of delicious juices and smoothies is matched with passion and energy – which is key for any business to succeed in India."
“India has been highly sought after by potential franchisees, but that does not change our process. Business experience and funding capabilities are important, however at Boost you stand out because of your passion and enthusiasm. Rivoli and Dev were by far the standouts because of their business experience and vision, however it was their fit with our ‘love life’ culture that assured us they are the perfect team to take Boost to India,” said Allis.
Allis and the Boost executive team are confident that Boost will be well received in India due to the similarities in weather, a strong juice market with no single player, and the opportunity to enter a strong market with a growing franchise business culture.
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