Starbucks!
From http://www.business2.com/articles/mag/0,1640,41189,FF.html
How Much Starbucks Is Too Much?
By: Business
2.0 Staff
Issue: July 2002
Perhaps it means
something that in San Francisco, there are now more Starbucks
outlets than publicly traded Internet companies. Everybody knows
that one day the franchise's caffeinated growth rate will have to
slow, but the numbers argue that it might not be soon.
The Fastest-Growing Takeout Franchise
Ever
Starbucks
(SBUX)
poured its first cup of joe in 1971 and didn't open another
store for 16 years. Since then, however, it has added new
outlets faster than any other quick-service franchise, including
McDonald's (MCD).
| Starbucks | McDonald's | |
| Estimated sales per square foot: |
$516 | $533 |
| Operating margin per store: |
20.1% |
14.4% |
| Total annual sales growth rate: |
25% | 1% |
| Same-store sales growth rate: |
7% | 0% |
A Latte in Every Cranny
Starbucks
is ubiquitous in some U.S. metro areas, but it's still novel in
most of the country. Morgan Stanley's Michael Sherrick estimates
that the company could more than double its U.S. outlets without
impeding growth. The "saturation point," he thinks, would be
reached at a little over three stores for every 100,000
residents nationwide.
Plenty of Room for Growth Abroad
Analysts see Starbucks's most inviting growth
opportunity in international markets. Right now the company is
eyeing Europe in particular, where you can find some of the
world's heaviest coffee drinkers but few Starbucks outlet —
yet.
