Founded in Seattle, WA in 1971 by Zev Siegl, Jerry Baldwin and Gordon Bowker, Starbucks Coffee has become part of Americans daily routines. Starbucks is a coffeehouse chain and coffee company retailer that has grown into a multinational company ever since it was founded in the 1970’s. The idea of Starbucks was created by three friends, and little did they know, this was going to become a brand that today does not even need any words in its logo. Present chairman of Starbucks board of directors and Chief executive Officer Howard Schultz, joined Starbucks in 1982 after being drawn to their Sumatra coffee and store image. Howard Schultz passion for the company and coffee was so strong that in 1987 with the help of investors he originally gathered for a coffee chain concept of his own called Il Giornale (the newspaper), he acquired Starbucks Company. Il Giornale acquired Starbucks coffee chain and immediately started using Starbuck image and name. Schultz was looking to create a coffee culture that was basically non-existent in the United States; the idea of a coffee culture came to Schultz after he visited Italy and the popularity of cafes was quite amusing to him. Three years after Starbucks was acquired by Schultz the company went from 17 locations to 84 in only 3 years, which led to an expansion in their headquarters. The acquisition allowed the company to start providing health benefits to its employees regardless of whether they were full or art time. The company started developing a brand image during the early 90’s, they started opening airport branches and offered the initial public offering. Four years into the 1990’s the company had 425 opened stores nationwide. The success Starbucks faced during this dec...
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... the United States
• Some customers often refers to Starbucks as 5Bucks because of how pricey it is.
• Fluctuations of the coffee bean price could impact the company supply at any time
• In busy metropolitan cities, the leasing and rental costs are constantly increasing
Opportunities • There is room to expand their customer base as long as the company compromises to advertise on TV
• Diversify their customer base by expanding the Menu options at lower prices to attract the lower middle class
• Expand to Latin America and the Caribbean
Threats • Prices of Coffee Bean
• Coffee bean farmers can easily shift their means of production and stop growing beans which could lead to shortage of supply and drive coffee bean prices up
• Companies like Dunkin Donuts are following the Starbucks footsteps
• Large competitors base in the beverage industry in the US
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- Starbucks Coffee Founded in Seattle, WA in 1971 by Zev Siegl, Jerry Baldwin and Gordon Bowker, Starbucks Coffee has become part of Americans daily routines. Starbucks is a coffeehouse chain and coffee company retailer that has grown into a multinational company ever since it was founded in the 1970’s. The idea of Starbucks was created by three friends, and little did they know, this was going to become a brand that today does not even need any words in its logo. Present chairman of Starbucks board of directors and Chief executive Officer Howard Schultz, joined Starbucks in 1982 after being drawn to their Sumatra coffee and store image.... [tags: Starbucks, Coffee, Howard Schultz, Jerry Baldwin]
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