Starbucks - additional information
The first Starbucks store was opened in Seattle, Washington in 1971 by three college friends, Jerry Baldwin, Zev Siegl and Gordon Bowker. In its first few years, the cafe only sold roasted coffee beans, not drinks. But, with consumer desire for specialty coffee increasing in the 1980s, one store had become a chain of six by 1986. In 1987, former employee Howard Schultz purchased the chain from the three friends. He quickly started to expand the chain and set Starbucks on the path to global domination. Today, not only are there over 14,000 Starbucks stores in the United States, but there are more than of 14,000 in other locations around the world. Of the U.S. based stores, 8,575 are company owned, the remaining 6,031 stores are licensed.
In 2018, Starbucks generated revenues of approximately 24.72 billion U.S. dollars, the majority of which came from beverage sales at 14.46 billion. These figures put Starbucks in the leading position within the global coffee chain market. As of 2015, the coffee chain had little reason to worry about competition – its closest competitor, Costa Coffee, made less than one fifth of its revenue. Starbucks was also the leading coffee chain in terms of store numbers, with around four times those of McCafé.