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According to research coffee is the most consumed drink around the world. It is estimated that the average coffee drinker consumes 3.1 cups of java a day. Couple that with the fierce loyalty coffee drinkers show for their favorite brands and coffee shops and you have a recipe for success. This all adds up to big business and it shows with new coffee shops opening on a daily basis.
One of the most popular coffee chains in America is Starbucks. The Seattle based
company was founded by 3 partners in 1971 at Seattle's Pike Place Market
and originally only sold coffee beans and equipment. Howard Schultz bought the
chain in 1987 from the original owners and began to grow the company into the
international success story it is today. In 1992 the company went public and
had an initial public offering (IPO) of common stock for $17. The stock currently
trades on the NASDAQ under the symbol SBUX.
Schultz is no longer the CEO but remains the chairman of the board and has seen revenues skyrocket to over $6 billion dollars in 2005. Since he took over in 1987 he has watched the company become a global presence. Starbucks has over 10,000 locations worldwide in 37 countries including the US and shows no signs of slowing down. The company has become more than just a place to buy coffee beans. They now market coffee, mixed coffee drinks, bottled Frappuccino, tea, pastries and muffins, ice cream, coffee equipment, Starbucks merchandise, music and more.
For those hoping to cash in on the lucrative brand and open your own Starbucks franchise you are probably out of luck. The company does not franchise and has no plans to begin selling franchises any time soon. There is one exception to this rule. If you own a business with "desirable retail space" you can enter into a licensing agreement with the company. Most of these licensed operations are located in airports, grocery stores or bookstores.
So if you want to strike it rich off the Starbucks name and you think you might have space for a Starbucks you can fill out an application at their website in hopes of becoming a Starbucks licensee. Otherwise, you could simply go to work for one of Fortune’s 100 Best Companies to Work For in 2006 and participate in the stock plan.
Some additional information on Starbucks:
Starbucks Corporate Offices -
2401 Utah Avenue South P.O. Box 34067
Seattle, WA 98134
(206)447-1575
Howard Schultz - Chairman of the Board
James L Donald - President, CEO, Director
Michael Casey - CFO, Executive Vice President, Chief Administrative Officer
James C. Alling - President, Starbucks Coffee US
Martin Coles - President, Starbucks Coffee International
Jinlong Wang - President of Starbucks Greater China
Paula E. Boggs - Executive Vice President, Supply Chain Operations
David A. Pace - Executive Vice President, Partner Resources
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