Making It with Jon Davids
136 - “We Raised $118M With a Tiny Coffee Shop” | Blank Street Coffee
Jul 16, 2024
Discover the incredible journey of Blank Street Coffee, from a single cart in Brooklyn to a thriving chain that’s reshaping the coffee scene. Learn how they marry affordability with community involvement in a way that draws customers back repeatedly. The discussion dives into the dynamics of community-building within coffee shops, highlighting innovative strategies that lure in venture capital. Plus, it’s all about rethinking traditional business models to maximize value and minimize waste for sustainable success.
20:14
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Quick takeaways
- Blank Street Coffee's efficient business model, emphasizing lower costs and streamlined operations, has facilitated rapid expansion and profitability in the coffee industry.
- Their community-focused branding strategy enhances customer loyalty by connecting with socially conscious consumers through partnerships with local businesses and artists.
Deep dives
Innovative Business Model
Blank Street Coffee started with a single coffee cart in Brooklyn in 2020 and has rapidly expanded, now boasting 65 locations. The business model is built around efficiency and cost savings, offering prices around 25% lower than Starbucks by operating in smaller, strategically located spaces. This lean approach allows them to keep overhead low, with estimated monthly rent around $3,500 versus $15,000 for typical cafes. By focusing on mobile ordering and touchless payments, they streamline operations and maintain a small staff, which further reduces labor costs.
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