RED MANGO SIGNS DEVELOPMENT AGREEMENT WITH NEW COLLEGE GRADUATE
Recent Babson College graduate Tarang Gosalia to open Red Mango in Boston
DALLAS - (May 21, 2009) - Red Mango, one of the most popular and fastest-growing retailers of authentic nonfat frozen yogurt, has signed its youngest franchisee, 22-year old recent Babson College graduate Tarang Gosalia. Gosalia plans to open his first Red Mango later this year at 334 Massachusetts Avenue in downtown Boston.
Gosalia, whose family has owned and operated a printing franchise for more than 15 years, wanted to continue his strong entrepreneurial roots after graduating college and decided Red Mango was an ideal fit for the Boston market.
"Red Mango is an ultra-modern and extremely health-conscious concept," said Gosalia. "Serving my customers a product that is good and more importantly good for them is something that really fits my ideal business model. Plus this is a concept that hasn't really tapped into the Massachusetts market yet."
Gosalia's store is expected to open this fall in the heart of downtown Boston, and while his franchise agreement is only for one location, his long term plan is to open five stores over the next seven years.
"Franchising allows you to control your own work, be your own boss, and, if implemented correctly, can give you great financial independence," he said. "I chose to attend Babson College because of its strong entrepreneurial program, and now that I've graduated I plan to build my assets through a proven business system, like Red Mango."
This is the second Red Mango franchise agreement for the Boston area. Earlier this year Red Mango announced its first franchise agreement in Massachusetts with Sean Kim and Kalin Bae of SEKA LLC.
Red Mango opened its first store in Los Angeles in July 2007, grew from eight to 40 locations in 2008 and expects to reach 80 stores by year's end. The company plans to have 500 locations open or under development within the next four years.
Red Mango is currently holding franchise recruitment seminars in select markets across the country for business owners and entrepreneurs interested in learning more about the concept. Upcoming events are scheduled for June 4 in Seattle and June 9 in Los Angeles.
About Red Mango:
Founded in 2002 in South Korea, Red Mango opened its first U.S. store in July 2007 in Los Angeles and has since celebrated 50 store openings across California, New York, Washington, Illinois, Hawaii, New Jersey, Nevada, Indiana and Utah. Red Mango serves authentic frozen yogurt that is all-natural, nonfat, certified gluten free and packed with probiotic live and active cultures. Red Mango's frozen yogurt has been certified by the National Yogurt Association's Live and Active Culture Seal for meeting the required criteria for healthy frozen yogurt. Red Mango's investors include CIC Advantage Holdings LLC, a holding company formed by CIC Partners and leading retail and restaurant operators to invest in and add value to multi unit retail companies.