Lansing-based Biggby Coffee generates record success in Detroit, entire state
Posted on August 20, 2012
Lansing-based Biggby Coffee generates record success in Detroit, entire state
By Eric Lacy | elacy@mlive.com
DETROIT, MI - Biggby Coffee held its first meeting for employees in 1999 and hasn't appeared to slow down with its rapid growth since.
Bob Fish, the company's co-founder, said in a newsletter delivered to customers, employees and stakeholders this week that Biggby has experienced 32 consecutive months of "same-store-sales growth."
One of the reasons appears to be expansion of stores selling their popular beverages, including several recent openings and signed store agreements in Metro Detroit.
The newsletter mentions 12 signed new store agreements since May 3, including locations in Dearborn Heights (May 3), Detroit (May 24) and Lake Orion (July 26).
Fish confirmed Saturday afternoon via Facebook that Biggby's Detroit location (Store #346) opened July 30th in Henry Ford Hospital.
Fish said in the newsletter Biggby's average sales growth during the current 32-month span is 9.28%.
"When combined with new-store-sales, this rate looks even better," Fish wrote. "In 2010, our overall store-sales averaged 18.5%, in 2011 it was 18.00%; and currently in 2012, it's 17.40%."
He also mentioned that Biggby's growth, compared to a June. 25 Nation's Restaurant News report of other coffee companies, outpaced the growth rates of Panera Bread (12.21%), Dunkin' Donuts (4.71%), Starbucks (7.28%), Tim Horton's (5.48%) and McDonalds (4.39%) by 6 to 13%.
"Our continued aggressive growth has been a great measuring stick of our success, with change being a significant agent of that growth," Fish wrote.
A list of Biggby locations can be found here. The company has more than 100 franchises in the U.S.
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Original article: http://www.mlive.com/business/detroit/index.ssf/2012/08/lansing-based_biggby_coffee_ge.html