Unlike many companies, Cinnaholic has continued to grow throughout the pandemic. It opened multiple new locations last year, and its expansion shows no sign of slowing down. It has now signed agreements for 20 new franchise locations, including in Philadelphia, Phoenix, and Portland.
And the chain won’t be stopping there — it also intends to expand to New York City, Austin, Tampa, and Boston, among others. It is currently seeking out investors to make this possible.
Last year, Cinnaholic also launched an online pick-up and third-party delivery ordering platform, which proved highly successful during the pandemic. It says it will be launching several new options in 2021, including King Cakes for Mardi Gras, chocolate chip banana bread, cookie cakes, and Take & Bake cookie dough.
The chain is one of several vegan companies to appear on Shark Tank. Plant-based pet food company Wild Earth, vegan “fine meats” company Mrs. Goldfarb’s Unreal Deli, and date spread brand Wanna Date? have also featured.
“Our franchise model has proven successful time and time again. Amid the pandemic, our existing franchisees were able to continue operations without temporarily closing their doors,” said Spencer Reid, president of Cinnaholic. “We’ve closed an extremely successful year in terms of franchise sales and are excited to continue the momentum as we look to excel growth in 2021!”