- Coffee Beanery
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Coffee Beanery is a Flushing, Michigan-based chain of coffee shops operating in the US, Europe, Asia, and US Territories. The company was founded in 1976. As of February 2007, they had 131 franchise locations in the United States and another 25 in other countries, most notably in Bahrain, China, Cyprus, South Korea, and United Arab Emirates.[1]
Business model
The company makes most of its money selling franchises and equipment, not the product itself.[1] Most shops close within three years; since the company's founding, more than 100 franchises have failed.[2]
In 2006, the Maryland securities commissioner determined that the company had misrepresented itself to prospective franchisees in violation of state law, and ordered it to release Maryland franchisees from their contracts without penalty. In 2008, the Illinois attorney general made a similar determination.[2]
References
- ^ a b Crane, Mary (February 16, 2007). "A Cautionary Tale For New Franchisees". Forbes. http://www.forbes.com/2007/02/15/starbucks-cariboucoffee-yum-ent-law-cx_mc_0216coffeebeanery.html. Retrieved December 4, 2010.
- ^ a b Mencimer, Stephanie (March/April 2009). "Franchise Fraud: Wake Up and Smell the Fine Print". Mother Jones. http://motherjones.com/politics/2009/02/franchise-fraud-wake-and-smell-fine-print. Retrieved December 4, 2010.
External links
Categories:- Coffee houses of the United States
- Companies based in Genesee County, Michigan
- Restaurant stubs
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