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Starbucks (with Howard Schultz)
Acquired
The Magic of High Customer Loyalty and Economics in Successful Restaurant Business
High customer loyalty, where customers visit a restaurant frequently, contributes significantly to its success. In the case of a successful restaurant chain, the key to its prosperity is a not overly expensive menu item that forms a small percentage of household income. This results in high repeat business and high gross margins, creating a robust business model. The economic model of opening new stores, as seen with Starbucks, ensures that profits cover costs within a short period, making it a highly lucrative venture. The unique combination of strong customer loyalty and a sound economic model has been the driving force behind the exceptional success of notable restaurants.
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