Saxbys Coffee

Saxbys
Private
Industry Fast food
Founder Nick Bayer
Headquarters Philadelphia, Pennsylvania
Number of locations
 23 stores (November 2017)
Area served
 Pennsylvania, New Jersey, Delaware, Washington D.C., New Hampshire, Georgia
Key people
 Nick Bayer (Founder, CEO)
Products Fast casual/Bakery-café, including a variety of coffee including Espresso, classic drinks, Frolatte, cold sandwiches, breakfast, smoothies, and teas
Revenue US$ 15 million (estimate) [1]
Number of employees
 400
Website saxbyscoffee.com

Saxbys is an American chain of bakery-café fast casual restaurants in the eastern United States. Its headquarters are in Philadelphia, Pennsylvania. It sells coffee, other drinks, and bakery items.[2]

History

Saxbys was founded in 2005 by Nick Bayer. He was interested in getting involved in the nightclub or bar business, but he decided to get involved with the coffee industry due to its flexible hours. Originally, Saxbys started off in Denver with an investment from Bayer, and it expanded into the Philadelphia region.[2][3]

In 2009, Saxbys filed for bankruptcy as they were facing 18 lawsuits from former franchisees and investors who said the company owed them money. Even though the company was in court, they continued to open up new stores, including one in Center City, Philadelphia. According to Bayer, the company was re-built into "something we all believe in".[4][5][6][7]

In September 2015, Saxbys moved its headquarters from Broomall, Pennsylvania, to Center City, Philadelphia. Their new headquarters is over 10,000 square feet and includes a Saxbys shop.[8][9][10]

Restaurants and locations

In 2014, the company launched an app that allowed guests to use mobile payments at Saxbys location and receive rewards on the app for spending.[11] As of October 2015, 35 percent to 40 percent of Saxby's is corporate-owned and the balance is franchised. In 2015, Saxbys Corporate bought out two franchises in Philadelphia, one in 30th Street Station and the other on the campus of the University of Pennsylvania. Both stores were "completely torn down and rebuilt."

References

  1. ↑ "INQ_Jobbing_Saxbys_Investors_Entrepreneurship_Bayer". philly.com. Retrieved 2017-11-22.
  2. 1 2 "About". saxbyscoffee.com. Retrieved 2017-11-22.
  3. ↑ "Q&A: Nick Bayer of Saxbys Coffee". phillymag.com. Retrieved 2017-11-22.
  4. ↑ "Why Saxbys filed for bankruptcy". Philly.com. 2009-09-04. Retrieved 2017-11-27.
  5. ↑ "Saxbys readies new Center City store". Philly.com. 2009-08-21. Retrieved 2017-11-27.
  6. ↑ "Saxbys Coffee boss says bankruptcy won't slow growth (Update)". Philly.com. 2009-08-17. Retrieved 2017-11-27.
  7. ↑ "Saxbys CEO: My company thrived after we went bankrupt; so can the Please Touch Museum". Billypenn.com. 2015-11-30. Retrieved 2017-11-27.
  8. ↑ https://www.bizjournals.com/philadelphia/news/2015/09/11/saxbys-celebrates-hq-move-to-center-city.html
  9. ↑ https://www.bizjournals.com/philadelphia/news/2016/11/07/cool-offices-saxbys-coffee-center-city-cre.html
  10. ↑ https://www.bizjournals.com/philadelphia/news/2015/09/09/saxbys-new-center-city-headquarters.html
  11. ↑ Jeff Taylor (2014-06-17). "Saxbys Introduces a New App for Your Coffee Fix | The Droid Lawyer™". Thedroidlawyer.com. Retrieved 2017-11-27.
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