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Tariq Farid is an entrepreneur who is the owner and CEO of Edible Arrangements International Inc. A successful franchise that now spans three continents. His business ventures include Netsolace Inc. Frutation, Tariq Farid Capital Corporation and BerryDirect. Tariq Farid is living the American Dream; Tariq learned the ropes to what would soon be a highly successful business venture when he was just a teenager working at fast food stores, mowing lawns and delivering newspapers. Tariq Farid runs his companies on the principal of Business Systemization and providing support for all major business functions to his franchisees. To this day he holds true to his basic strategy of delivering better value and providing enhanced service which has played a key role in growing the Edible Arrangements® franchise.

Biography

Tariq was born near Lahore in Okara, Pakistan to Salma and Ghulam Farid and was the oldest of six children. He migrated to the US in 1981 with his family at the age of 11. His father had arrived in the states in 1970 and was working as a machinist in Hartford, Connecticut. Tariq lived the life of an ordinary American teenager; he mowed lawns, delivered newspapers and worked at a McDonald’s outlet. when he was 17, the family bought and began operating a flower shop in East Haven, Connecticut.

Tariq worked at the family store after school and it was here that his entrepreneurial ability and his passion for computers began to come out. He developed a computerized point of sales system for the shop which he later sold to other flower shops in the area and by 1997; his computer venture had $2.6 million in annual sales. Tariq worked on the principal ‘sell them on Value; deliver lots of service’ and soon he had a waiting list for people who wanted to buy his software; he applied this very principal to the family’s flower shop. Tariq took competitive strategy very seriously and kept prices and profit margins low while encouraging customers at the Flower shop to ‘Supersize’ their orders recognizing that lower prices would deliver higher volumes which enabled him to build a secure and profitable supply chain relationship.

Business ventures

Edible Arrangements® is Tariq’s most popular business venture. The basis for this was formed when he still worked in his family’s flower shop but it was his eye for detail and knowledge on handling customers that made it into the enterprise it is today. Edible Arrangements® was started in 1999, the product was fruit sculptures that looked like fresh flower bouquets, his mother liked them and that was his feasibility study. Tariq started out with one store applying what he learned from working at McDonalds and the flower shop to create a successful business concept. The number of stores grew and in 2001 Tariq began to franchise the concept growing it to over 900 stores by 2009. He continued to provide technical support to the franchisees giving them access to training systems, profitability tracking and supply chain management systems. Today Edible Arrangements® has stores in USA, Canada, Turkey, Hong Kong, Italy, Puerto Rico, Saudi Arabia, Kuwait, Qatar and the United Arab Emirates. In March 2008 the company was reported to have annual revenues of $195 million.

In 2008, in response to the receding economy and keeping his vision for growth in mind, Tariq started Farid Capital. The company aims to facilitate the financing needs of small businesses and provides financial advice expertise to small and medium sized business ventures. Although Tariq had sold his computer company and moved to other business ventures but the computer wiz in him still lived and later on turned in to Netsoalce, Inc. a company established in 2001 and dedicated to providing software solutions to franchises. The company developed Socket Fransupport, Qs point of Sale software, DM Digital Menu systems and nXstep Instruction and Training Software. In 2006, Farid also launched the franchise concept Frutation by Edible Arrangements out of his desire to provide consumers an “on-the-go” option.

Civic activities

In 2008, Tariq Farid , together with his brothers opened the Salma K. Faird Academy in memory of their mother who passed away in 2005. The Salma K. Farid Academy is an Islamic school located in Hamden, Connecticut. Tariq has also sought to establish a mosque in Wallingford, Connecticut but failed to get town zoning approval for his proposal. He is an active member of Deen Inc. New Haven, which aims to revitalize the inner-city neighborhood.

Awards and recognitions

In 2009 Tariq was recognized as Entrepreneur of the Year by the International Franchise Association. IN 2009 Tariq was named the Ernst & Young Entrepreneur of the Year. He spoke at the 3rd Leadership Summit held by the council for the advancement of Muslim Professionals and at the Small Business Summit held by The New York Times.

References

External links

@@ Line 1: / Line 1: @@
 {{orphan|date=April 2009}}
 '''Tariq Farid''' is an [[entrepreneur]] who is the owner and CEO of Edible Arrangements International Inc.
+A successful franchise that now spans three continents. His business ventures include Netsolace Inc. Frutation, Tariq Farid Capital Corporation and BerryDirect. Tariq Farid is living the American Dream; Tariq learned the ropes to what would soon be a highly successful business venture when he was just a teenager working at fast food stores, mowing lawns and delivering newspapers.
+Tariq Farid runs his companies on the principal of Business Systemization and providing support for all major business functions to his franchisees.  To this day he holds true to his basic strategy of delivering better value and providing enhanced service which has played a key role in growing the Edible Arrangements® franchise.
-In 2009 he was recognized as Entrepreneur of the Year by the [[International Franchise Association]].<ref name=IFA>[http://www.franchise.org/franchise-news-detail.aspx?id=43978 FRANCHISE GROUP NAMES ENTERPRISING BUSINESSMAN ENTREPRENEUR OF THE YEAR], International Franchise Association press release, February 16, 2009</ref>
 == Biography ==
+Tariq was born near Lahore in Okara, Pakistan to Salma and Ghulam Farid and was the oldest of six children. He migrated to the US in 1981 with his family at the age of 11. His father had arrived in the states in 1970 and was working as a machinist in Hartford, Connecticut. Tariq lived the life of an ordinary American teenager; he mowed lawns, delivered newspapers and worked at a McDonald’s outlet. when he was 17, the family bought and began operating a flower shop in East Haven, Connecticut.
-Tariq Farid was born near [[Lahore]], [[Pakistan]],<ref>Martin Desmarais, [http://www.indusbusinessjournal.com/ME2/Audiences/dirmod.asp?sid=&nm=&type=Publishing&mod=Publications%3A%3AArticle&mid=8F3A7027421841978F18BE895F87F791&tier=4&id=FFA5D44EB0324119AA247A1960BC6FA2&AudID=0C5ABC84F3CE4D0DB8BF8D0BF8BD2F70 Edible Arrangements concept continues to bloom], ''IndUS Business Journal'', December 1, 2006</ref> in 1969, the oldest of six children of Ghulam and Salma Farid. His father emigrated to the [[United States]] in the 1970s, working in [[Connecticut]] as a machinist. Tariq Farid arrived in the United States with the rest of the family in 1981, when he was 11 years old.<ref name=honorlate>George Moore, [http://www.myrecordjournal.com/site/tab1.cfm?newsid=19843892&BRD=2755&PAG=461&dept_id=592709&rfi=6 Farid: Successful entrepreneur intends to honor late mother], ''Meriden Record Journal'', July 10, 2008</ref> As a teenager, Tariq mowed lawns and worked in a [[McDonald’s]] restaurant. In 1986, when he was 17, the family bought and began operating a [[flower shop]] in [[East Haven, Connecticut]]. While working in the family business, which expanded to additional locations, Tariq developed a computerized [[point of sale]] system for floral shops, and struck out on his own in 1991 in a business selling computer systems to flower retailers.<ref name=honorlate/>
+Tariq worked at the family store after school and it was here that his entrepreneurial ability and his passion for computers began to come out. He developed a computerized point of sales system for the shop which he later sold to other flower shops in the area and by 1997; his computer venture had $2.6 million in annual sales.  Tariq worked on the principal ‘sell them on Value; deliver lots of service’ and soon he had a waiting list for people who wanted to buy his software; he applied this very principal to the family’s flower shop. Tariq took competitive strategy very seriously and kept prices and profit margins low while encouraging customers at the Flower shop to ‘Supersize’ their orders recognizing that lower prices would deliver higher volumes which enabled him to build a secure and profitable supply chain relationship.
 == Business ventures ==
-By 1993, the computer enterprise grew into the computer [[software]] distributor Netsolace.<ref name=IFA/>
+Edible Arrangements® is Tariq’s most popular business venture. The basis for this was formed when he still worked in his family’s flower shop but it was his eye for detail and knowledge on handling customers that made it into the enterprise it is today. Edible Arrangements® was started in 1999, the product was fruit sculptures that looked like fresh flower bouquets, his mother liked them and that was his feasibility study. Tariq started out with one store applying what he learned from working at McDonalds and the flower shop to create a successful business concept. The number of stores grew and in 2001 Tariq began to franchise the concept growing it to over 900 stores by 2009. He continued to provide technical support to the franchisees giving them access to training systems, profitability tracking and supply chain management systems.  Today Edible Arrangements® has stores in USA, Canada, Turkey, Hong Kong, Italy, Puerto Rico, Saudi Arabia, Kuwait, Qatar and the United Arab Emirates. In March 2008 the company was reported to have annual revenues of $195 million.
-In 1999, he and his brothers partnered to open the first Edible Arrangements store in [[Hamden, Connecticut]]. The business specializes in fresh [[fruit]] arrangements, melding the concept of [[fruit basket]]s with design inspired by the floral business.<ref name=honorlate/> After designing the computer systems, training manuals, production and profitability tracking and supply chain management process, they began franchising the concept in 2001. As president and CEO, Farid has grown the company to more than 900 stores serving locations in the United States, [[Canada]], [[Puerto Rico]], the [[United Arab Emirates]], [[Saudi Arabia]] and the [[United Kingdom]]. In March 2008 the company was reported to have annual revenues of $195 million.<ref>Suzanne Barlyn, [http://online.wsj.com/article/SB120526710337728101.html?mod=article-outset-box Name that Firm], ''[[Wall Street Journal]]'', March 17, 2008</ref>
+In 2008, in response to the receding economy and keeping his vision for growth in mind, Tariq started Farid Capital. The company aims to facilitate the financing needs of small businesses and provides financial advice expertise to small and medium sized business ventures.
-In 2006, Farid also launched the franchise concept Frutation by [[Edible Arrangements]] out of his desire to provide consumers an “on-the-go” option.
+Although Tariq had sold his computer company and moved to other business ventures but the computer wiz in him still lived and later on turned in to Netsoalce, Inc. a company established in 2001 and dedicated to providing software solutions to franchises. The company developed Socket Fransupport, Qs point of Sale software, DM Digital Menu systems and nXstep Instruction and Training Software.
+In 2006, Farid also launched the franchise concept Frutation by Edible Arrangements out of his desire to provide consumers an “on-the-go” option.
 ==Civic activities==
-A [[Muslim]], Farid is founder, together with his brothers, of the [[Salma K. Farid Academy]], an Islamic school in [[Hamden, Connecticut]] that opened in October 2008.<ref name=honorlate/><ref name=connpost>Michael P. Mayko and Marian Gail Brown, [http://www.connpost.com/ci_10757301?IADID Muslim population is growing], ''Connecticut Post'', October 18, 2008</ref> It is named in honor of Farid's mother, who died in 2005. Farid has also sought to establish a [[mosque]] in [[Wallingford, Connecticut]] to honor his mother,<ref>[http://www.myrecordjournal.com/site/tab1.cfm?newsid=19832384&BRD=2755&PAG=461&dept_id=592709&rfi=6  Both sides adamant in mosque dispute], by Jeffery Kurz, ''Meriden Record-Journal'', July 6, 2008</ref> but failed to get town [[zoning]] approval for his proposal, which was strongly opposed by area residents.<ref>[http://www.myrecord-journal.com/site/tab1.cfm?newsid=20168094&BRD=2755&PAG=461&dept_id=592709&rfi=6  PZC Unanimously rejects mosque plan.] by Dave Moran, ''Meriden Record-Journal'', October 17, 2008</ref> He is also a member of Deen Inc. [[New Haven]], which aims to revitalize the inner-city neighborhood.
+In 2008, Tariq Farid , together with his brothers opened the Salma K. Faird Academy in memory of their mother who passed away in 2005. The Salma K. Farid Academy is an Islamic school located in Hamden, Connecticut. Tariq has also sought to establish a mosque in Wallingford, Connecticut but failed to get town zoning approval for his proposal. He is an active member of Deen Inc. New Haven, which aims to revitalize the inner-city neighborhood.
 == Awards and recognitions ==
-{{BLP unsourced section|date=February 2009}}
-*International Franchise Association (IFA)[[Entrepreneur]] of the Year Award 2009<ref name=IFA/>
+In 2009 Tariq was recognized as Entrepreneur of the Year by the International Franchise Association.
+IN 2009 Tariq was named the Ernst & Young Entrepreneur of the Year.
-*CEO Tariq Farid featured in INC magazine 2008
+He spoke at the 3rd Leadership Summit held by the council for the advancement of Muslim Professionals and at the Small Business Summit held by The New York Times.
-*Tariq Farid featured on the [[MSNBC]] program “Your Business"
-*Edible Arrangements featured on the [[CNBC]] program “The Big Idea”
 ==References==
@@ Line 30: / Line 33: @@
 *[http://www.tariqfarid.com Tariq Farid Official Website]
 *[http://www.ediblearrangements.com Edible Arrangements]
+*[http://www.netsolace.com Netsolace]
+*[http://www.eafranchise.com EA Franchise]
 {{DEFAULTSORT:Farid, Tariq}}