SCOTTSDALE, AZ – In a move that underscores the rapidly shifting landscape of the American franchise industry, a powerhouse group of veteran operators has officially entered into a multi-unit development agreement with HB Protein Smoothies. This landmark deal, covering the high-growth markets of Boise, Phoenix, and Portland, marks a significant milestone for the emerging protein-focused brand and signals a burgeoning trend of "heavy hitter" investors diversifying into the health and wellness sector.

The agreement brings together some of the most respected names in the franchise world: Jim and Brandon Lovelace, Ed Holmes, and Chris Phillips. Collectively, this group manages an expansive portfolio of over 120 locations across various iconic brands, most notably serving as the largest franchise operators within the Papa Murphy’s system. Their decision to pivot resources toward HB Protein Smoothies represents a calculated bet on the "protein economy" and the long-term viability of health-conscious, operationally streamlined retail models.

Main Facts: A Strategic Alliance of Scale and Vision

The multi-unit deal is not merely an expansion of a footprint but a validation of the HB Protein Smoothies business model by industry experts who have spent decades mastering the art of the multi-unit rollout. By targeting Boise, Phoenix, and Portland, the group is moving into territories characterized by active lifestyles and a high demand for functional nutrition.

Key Components of the Agreement:

• Target Markets: Comprehensive development rights for the Boise, Idaho; Phoenix, Arizona; and Portland, Oregon metropolitan areas.
• The Franchise Group: A partnership led by Jim and Brandon Lovelace (the largest Papa Murphy’s franchisees), Ed Holmes, and Chris Phillips (whose family lineage in franchising dates back to the early 1980s).
• Development Pipeline: This deal contributes to HB Protein Smoothies’ burgeoning national pipeline, which currently boasts more than 200 units in various stages of development across the United States and Canada.
• Brand Positioning: HB Protein Smoothies distinguishes itself by focusing on high-protein, low-sugar profiles and operational simplicity, moving away from the high-labor, high-waste models often associated with traditional juice bars.

This partnership is facilitated by Fransmart, the global franchise development firm responsible for the meteoric rise of brands like Five Guys, QDOBA, and The Halal Guys. The involvement of Fransmart suggests that HB Protein Smoothies is being groomed for the same trajectory of rapid, sustainable global scaling.

Chronology: From Take-and-Bake Roots to the Protein Frontier

To understand the weight of this deal, one must look at the history of the operators involved. The narrative begins in 1981, when the Phillips family became one of the first franchisees for Papa Murphy’s. Over the next four decades, they witnessed the evolution of the "take-and-bake" pizza concept from a niche idea into a national staple.

Similarly, the Lovelace family rose through the ranks to become the largest operators in the Papa Murphy’s system, mastering the complexities of managing high volumes and multi-state territories. Having maximized their opportunities within the pizza and dessert sectors—including successful ventures with Crumbl Cookies—the group began a deliberate search for the "next big thing" in franchising.

In early 2024, the group began evaluating several emerging brands. According to Chris Phillips, the criteria were stringent: the brand needed to offer a superior product, a mission that resonated with modern consumers, and a leadership team that understood the day-to-day realities of the operator.

By mid-2024, conversations with HB founders Daniel and Ethan Boone intensified. The father-son duo presented a vision of "functional fitness in a cup" that addressed a gap in the market: while many smoothie brands focused on fruit and sugar, HB focused on protein and routine-driven nutrition. After a period of rigorous due diligence, supported by the franchise experts at Fransmart, the group officially signed the multi-unit agreement in June 2026, setting the stage for a rapid rollout in the Pacific Northwest and the Southwest.

Supporting Data: The Economics of Efficiency and Wellness

The decision by a 120-unit operator group to join a younger brand is rarely based on sentiment alone; it is driven by unit-level economics and market data. Several factors make HB Protein Smoothies an attractive vehicle for large-scale investment in the current economic climate.

1. Operational Simplicity and Labor Optimization

In an era of rising labor costs and staffing shortages, the HB model offers a distinct advantage. Unlike full-service restaurants or even complex fast-casual concepts, HB locations require minimal staffing. The preparation of protein smoothies is standardized and fast, reducing the "skill gap" required for new hires and allowing for lower overhead.

2. The "Protein Economy"

Market research indicates that the global protein supplement market is projected to grow at a CAGR of over 8% through 2030. Consumers are increasingly replacing traditional meals with high-protein liquid nutrition. HB Protein Smoothies taps directly into this trend, positioning itself as a "routine" stop for gym-goers, office workers, and students, rather than a "treat" destination.

3. Real Estate and EBITDA

HB’s footprint is designed for flexibility. The brand can thrive in smaller square footage than traditional fast food, allowing for lower rent-to-revenue ratios. Dan Rowe, CEO of Fransmart, noted that the unit-level EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) is a primary driver for experienced operators. When a model demonstrates high profitability with low operational friction, it becomes a prime candidate for multi-unit clusters.

4. Geographical Synergy

The choice of Phoenix, Boise, and Portland is data-driven. Phoenix is one of the fastest-growing metropolitan areas in the U.S., with a massive demographic of young professionals. Boise has emerged as a top destination for West Coast transplants seeking an active lifestyle, and Portland remains a bastion of health-conscious, brand-loyal consumers.

Official Responses: Voices from the Deal

The leadership teams on both sides of the agreement expressed a shared sense of urgency and alignment.

Chris Phillips, Lead Franchisee:
"We’ve evaluated countless opportunities, and I feel like HB Protein Smoothies stood out because it combines what every great brand needs: a great product, a clear mission, and outstanding people behind it. My family has been in franchising since 1981, and we know when a concept has the legs to go national. HB is uniquely positioned for significant growth, and we are excited to bring this to the communities in Boise, Phoenix, and Portland."

Daniel Boone, Co-Founder of HB Protein Smoothies:
"Health and wellness have always been the heartbeat of this brand. Finding partners who genuinely believe in that mission—not just the business opportunity—is everything to us. To have operators of this caliber, who have managed hundreds of units, choose HB is a testament to the work we’ve put into the model. We aren’t just selling smoothies; we are helping people maintain their daily health routines."

Dan Rowe, CEO of Fransmart:
"Groups like this don’t take long to make up their minds. When experienced operators see the unit-level EBITDA and the sheer opportunity for market dominance, they move. That’s exactly what happened here. HB is the right brand at the right time, and with this group leading the charge in these three major markets, the sky is the limit."

Implications: A New Benchmark for the Smoothie Industry

This deal has implications that reach far beyond the immediate growth of HB Protein Smoothies. It signals a "flight to quality" in the franchise world. As the market for sugary snacks and high-calorie fast food reaches saturation, veteran investors are looking for brands that offer "guilt-free" consumption.

The Professionalization of Emerging Brands

When a brand with 200 units in development signs a group that already manages 120 units, it accelerates the professionalization of the entire system. The Lovelace/Phillips group will likely bring sophisticated management systems, supply chain efficiencies, and training protocols that will benefit the entire HB network.

The "Wellness-to-Wealth" Pipeline

The partnership demonstrates that "wellness" is no longer a boutique or niche market. It is now a primary target for institutional-scale franchise capital. The move by the largest Papa Murphy’s franchisees suggests that the smart money is moving away from "occasional" foods (like pizza) toward "lifestyle" foods (like protein smoothies) that consumers integrate into their daily lives five to seven days a week.

Future Outlook

With 200+ units already in development, HB Protein Smoothies is on track to become a dominant player in the health-casual space. The group led by Phillips and the Lovelaces has already indicated that Boise, Phoenix, and Portland are just the beginning. They are actively looking at additional territories, suggesting that this partnership could eventually encompass hundreds of locations across the Western United States.

As the first locations under this new agreement begin to open, the industry will be watching closely. If the HB model performs as expected in these diverse markets, it may well set a new standard for how health-focused brands scale in the post-pandemic economy—driven by operational simplicity, high-protein demand, and the backing of the industry’s most experienced operators.

About HB Protein Smoothies
HB Protein Smoothies is a protein-focused smoothie brand built for everyday routines and operational simplicity. Founded by father-and-son team Daniel and Ethan Boone, the concept delivers high-quality, great-tasting smoothies that appeal to health-conscious consumers. Designed for scalability, HB offers a low-overhead, streamlined franchise model with minimal staffing requirements.

About Fransmart
Fransmart is the global leader in franchise development, turning emerging concepts into household names. The company’s portfolio includes world-renowned brands such as Five Guys, The Halal Guys, and QDOBA. For more information, visit Fransmart.com.