JugoFresh Sees Juice Sales Dip As Competitors Grow
Florida's own JugoFresh is a success story about the growing taste of Southern Floridians desire for fresh foods. But as the company's founder, Matthew Sherman—one of the key panelists at our upcoming Miami's Hospitality & Culinary Surge—tells us, the proliferation of juice bars and restaurants is eating into sales.
“There are a ton of juice places now. When we opened up, we were the only ones in Florida,” Matthew (on right with his executive chef Darren Laszlo) says. “The landscape has changed quite a bit.”
And since the juice business has a low barrier to entry, it's easy for competitors to try and capture market share because “it's not rocket science.” But Matthew says while juice sales have taken a dip, his other health foods have strengthened, since competitors have a harder time competing on that platform.
Begun at his home in 2010, JugoFresh's growth has been astronomical. After opening his first store in 2012, Matthew now controls 10 locations, mainly in Whole Foods Markets. Next year, Matthew tells us he plans to open another two locations.
“There's a growing demand for getting your micro-nutrients without having to spend a lot of time eating,” he says.
Hear more from Matthew, along with other hotel and restaurant leaders, including Trust Hospitality CEO Richard Millard (here), Commune Hotels & Resorts CEO Niki Leondakis, LeFrak managing director Michael Tillman, Menin Hospitality managing principal Jared Galbut and SBE SVP Thomas Meding at Miami's Hospitality & Culinary Surge at 7:30am, Tuesday, Oct. 18, at Loews Miami Beach Hotel. Register here.