California-based superfood franchise Everbowl just had its first franchisee pay fees in bitcoin, according to a press release from the company.
Josh Smith, an Everbowl franchise owner building out two stores in Ohio, was the first person to take advantage of Everbowl’s previously announced offering allowing owners within the franchise to pay in bitcoin.
“Allowing prospective franchisees to pay their franchise fees with bitcoin gives our franchisees a measure of flexibility by allowing them to put their digital assets to work,” founder and CEO Jeff Fenster stated.
Earlier this year, on February 4, the company announced it was adopting a Bitcoin standard, which would see Everbowl convert its cash holdings into bitcoin.
“A disruptive growth company should always position itself ahead of the pack and take the lead by adopting new technologies early rather than late,” Fenster explained at the time. “We believe it’s a matter of ‘when,’ not ‘if,’ that the Bitcoin standard will become the Gold standard.”
On February 23, Everbowl made another announcement which would allow corporate employees of the company to receive a portion or their paycheck in bitcoin.
“The highest U.S. inflation rate in four decades and the excessive debasement of the U.S. dollar have contributed to everbowl’s move to become an early adopter of the Bitcoin Standard at the corporate level,” Fenster said at the time.
The fast-paced restaurant chain was first established in 2016 in Southern California and has since risen to 48 locations. After Smith builds out his stores, the company looks to have at least 50 active locations.