Derek Cha is an American entrepreneur who is the founder and CEO of Sweet Frog, a frozen yogurt chain, founded in Short Pump, Virginia in 2009.

Early life and career

Cha was born and raised in South Korea. At age 12, Cha and his family migrated to the United States. In 1985, Cha started two framing businesses named "Art and Frame Depot" and "Art and Frame Warehouse." He eventually grew both businesses into a large chain of 80 stores nationwide, generating between $5 million and $10 million a year in revenue.^[1] As the housing market declined in 2006 and the U.S. economy went into recession, Cha found his stores struggling. By the year 2009, none of the original 80 stores remained open or were operating profitably. Six months later, Cha opted for a completely new venture - frozen yogurt.^[2]

Founding of Sweet Frog

In 2009, Cha and his wife opened the first Sweet Frog in Short Pump, Virginia. Several months later on July 7, they opened their second store in Chesterfield, Virginia, which was even more successful than the first store. Their next stores were then opened in Chesterfield, Richmond, Charlottesville, Lynchburg, and Williamsburg, all located in Virginia.^[3] The growth continued in 2011, as Sweet Frog opened 29 stores, and accelerated in 2012 as 113 more Sweet Frog stores opened, mostly located in the east coast states of Virginia, North Carolina, Maryland, South Carolina, and Pennsylvania. On April 17, 2012, at a time when Sweet Frog had 180 stores operating in the United States and a few foreign countries, Boxwood Capital Partners made a minority investment into Sweet Frog Enterprises, LLC,^[4] the company that owns and operates Sweet Frog.^[5]

Domestic violence

In September 2019, Cha was convicted in Fairfax County, Virginia of domestic battery for an attack on his wife Annah.^[6]

References