Edible Arrangements

Tariq Farid dives into how franchising with Edible makes every day a special occasion by offering fresh fruit arrangements that are perfect for any celebration and have revolutionized gift-giving. 

1851: The first question I want to pose revolves around the journey of your career, your life and your enterprise as an entrepreneur. Specifically, I'm interested in how you view your progress, the pace at which time has unfolded and your ability to pause, appreciate and express gratitude for the milestones you've achieved as a leader and entrepreneur.

Edible Founder and CEO Tariq Farid: It's almost a daily reflection for me, especially when I’m at home with my wife. Observing our kids growing up and recognizing where we are now always fills me with awe. It's hard to believe how far we've come, particularly for someone who grew up in the ‘70s and ‘80s. The transition from rotary phones to the current technological advancements, and witnessing the manifestation of dreams I had regarding what technology could achieve within my lifetime, has been nothing short of phenomenal. It’s not just about personal accomplishments but also what we've achieved as a business. Reflecting on the past 25 years, particularly this year, has been quite revealing. The reality of aging hit me when I was dropping my kid off at middle school. Now, celebrating our 25th business anniversary, I'm astonished by how swiftly time has flown. It's been an incredible journey, a blessing indeed.

1851: The adage "there's no overnight success" rings true. Traversing through challenges like COVID and the economic downturns of 2001 and 2008 makes one resilient. At what point as an entrepreneur did you learn to see beyond temporary setbacks? 

Farid: When you start from humble beginnings or virtually nothing, every day brings a delightful surprise. I find bumps exciting, to the point where smooth sailing feels mundane, sometimes prompting me to instigate some change, which others might perceive as chaos. There's a misinterpretation when people label me a “bull in a china shop.” I always retort that I didn't know I owned a china shop. This metaphorical china shop represents the business world, where the customers dictate the tune and we must adapt to their evolving tastes. So, being ready for change is essential, and the misclassification or misunderstanding of entrepreneurs as disruptors stems from a lack of this realization.

Reflecting on the advice from my grandfather, who was a farmer known for his stoic demeanor even in the face of losing crops to storms, has been inspiring. He believed in hard work and left the reward to divine providence. This view helps in navigating the responsibilities towards employees and franchisees, especially as the Edible brand grows. The fear associated with such responsibilities can give one pause, yet the essence of embracing change, stirring things up, and trying new things, is what propels success.

It’s essential to prepare for the worst, as it places you in a better position to navigate through adversities like the pandemic, and emerge stronger. This aligns with my grandfather's advice of preparing during good times for the challenging times ahead. This perspective is not about fostering a pessimistic outlook, but being ready and resilient.

1851: What's going through your head as you enter COVID, and at what point do you see there's an opportunity for evolution of the brand? 

Farid: So, as we went into COVID, the unknown was the scary part. I went through slowdowns in the ‘80s, slowdowns in the ‘90s. I mean, the world was supposed to end in 2000, right? Of course, COVID was a whole new thing. But at the end of it, if you stayed true to your principles and you stayed true to your values, you thrived as a business. If you stayed within your means and you took care of the customer, you went above and beyond, it paid back. That's what happened with us — for the first six weeks, we thought: “It's game over.” But then our sales went up 40% as loved ones started sending each other more gifts because they couldn’t see each other in person. For the next year and a half, our sales went crazy. Still, we had to be prepared. We launched delivery of fresh fruit, for example, which made us an essential business in some states. That's because we wanted to stay open and succeed. We didn’t give up.

1851: So many franchisees have forgotten how much work franchisors had to do during COVID to adapt. 

Farid: Believe it or not, COVID was probably the best thing that has happened to us from a business point of view. Someone said something interesting to me at the start of COVID: “Right now, business is just like personal health — if you don’t take care of yourself, COVID is going to be a bigger issue for you.” We had so much innovation happen out of desperation at that point that even the franchisees didn't question it. We went from being a franchise company to an e-commerce company. A hundred percent of our sales came through online ordering. We had to refresh. We started selling cheesecakes, cookies and fruit. Even today, we're a totally different brand in mindset and operation. The downturns will make you better; they will make you stronger.

1851: Did COVID-19 change your leadership style, as well?

Farid: Yes, it's not about quantity anymore; it's about quality. Post pandemic, we've built a great franchise brand where quality of life and work-life balance is always important. Our business allowed us to be home by 5 or 6 o'clock every night. Our average franchise store is open about 60 hours a week. All these things became a priority for me. It's important to spend time with the family and learn this balance. My grandfather did a great job teaching me this. He would start his day with me in the mornings, and when I came home from school, he would always be there. Post pandemic, I think I became a little bit of a grandfather myself. I realized I needed to participate more and take care of myself. To my delight, this helped me do business and everything else better because when you start taking care of yourself, especially as you get older, it's beneficial. It was a bit of a reset by God to reprioritize, which I appreciate.

1851: The scope of data that you can gather about human beings, from birth to death, is really unique. It's beyond AI; it's about human opportunity. As we merge the meta world with the human experience, a brand like Edible has a unique chance to maintain its relevance. 

Farid: In our business, customers return to you for both joyous and sad occasions. Customers share parts of their lives with you and form a lasting connection. Once you can figure that out as a locally-owned franchisee, that is when the magic happens. People don't remember the cost — they remember how you made them feel. 

I had a recent trip to California. During my flight, a fellow passenger recognized my Edible Arrangements merchandise and shared her love for it. She was so excited. That is what you love to see. 

Overall, our brand has weathered various storms over the past 25 years. Even during economic downturns, our sales remained steady because celebrations continued regardless. The recent pandemic added to our reservoir of experiences, demonstrating our ability to endure adversities. We're now pivoting our brand cautiously and methodically, ensuring we maintain the essence that has made us successful so far. There's an infectious excitement within the team when new ideas are welcomed, signaling promising times ahead. The aim is to revamp our stores, shake off the remnants of the pandemic and embrace the exciting journey that lies ahead.

For more information on franchising with Edible, visit: https://ediblefranchise.com/