BEANER'S COFFEE finishes strong in 2006
Posted on January 29, 2007
138 Units Open or Under Contract
Lansing, Mich. - January 29, 2007 - BEANER'S COFFEE, a Lansing-based coffee house franchise, had another record year in 2006 with a 53% increase in system wide sales, 14% is attributed to an increase in same store sales and 39% is from new store growth. The franchise ended the year with 63 open units and 75 signed to be opened. And it was ranked 289 out of the top 500 franchise concepts in the United States.
In comparison to other segment players in Michigan, BEANER'S is over performing in growth. As reported in Entrepreneur magazine, the Coffee Beanery had a 7% net loss of open units; they went from 169 to 156 units open last year. BEANER'S had a 50% growth rate, starting 2006 with 42 units and ending with 63 open units. There are 75 units under contract to be opened, generating a total of 138 units open or under contract.
For the first time, Entrepreneur magazine ranked BEANER'S number 289 out of the top 500 franchise concepts in the United States. The franchise was ranked beside Bruegger's, Embassy Suites Hotels and Steak and Shake.
"Our 2006 results were strong and we anticipate surpassing restaurant industry growth projections of 5% for 2007," said Tony Ziegler, Vice President of Franchise Development. "We plan unit growth to exceed 50% this year and end the year with well over 100 units open."
BEANER'S opened their first store in 1995 and began franchising in 1999. Global Orange Development, BEANER'S franchising company, has opened 63 BEANER'S COFFEE stores since. There are franchises in nine states, including 45 in Michigan, 11 in Ohio, and stores in Alabama, Florida, Georgia, Illinois, Indiana, South Carolina and Wisconsin. The franchise plans to continue its rapid expansion in the Midwest and South this year.
About BEANER'S COFFEE
BEANER'S COFFEE was created in March of 1995 in East Lansing, Mich. and began franchising in 1999. The homegrown phenomenon continues to expand, fueled by franchising and acquisitions throughout the Midwest and South. For further information about BEANER'S COFFEE, visit www.beaners.com.
BEANER'S specializes in gourmet coffee and fine teas. The gourmet coffee house features more than 30 specialty coffee, tea and frozen drinks. Each day, the store brews six special coffees, and carries a broad selection of pastries.
Original article: http://www.lsj.com/