Saxbys Coffee

Saxbys
Company typePrivate
IndustryFast food
FounderNick Bayer
HeadquartersPhiladelphia, Pennsylvania
Number of locations
24 cafes (As of March 2023)
Area served
Pennsylvania, Maryland, Massachusetts, New Jersey, Ohio, Washington D.C., Virginia
Key people
Nick Bayer (Founder, CEO)
ProductsFast casual/Bakery-café, including a variety of coffee including Espresso, classic drinks, cold brew collection, cold sandwiches, breakfast, smoothies, and teas
RevenueUS$ 15 million (estimate) [1]
Number of employees
500
Websitesaxbyscoffee.com

Saxbys is a certified benefit corporation fast casual restaurant on the eastern United States. Its headquarters are in Philadelphia, Pennsylvania. It sells coffee, other drinks, and bakery items.[2] Saxbys was founded by Nick Bayer who is the CEO.

History

Saxbys was founded in 2005 by Nick Bayer. 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]

Saxbys runs an "experiential learning platform" with colleges and universities, including Temple University, Rowan University, Pennsylvania State University, and Saint Joseph's University. It has 12 student-run cafes on college campuses. Students are able to become "student CEOs" or student café executive officers, receiving academic credit and salary.[11][12]

Restaurants and locations

In 2014, the company launched an app for mobile payments at Saxbys location and receive rewards on the app for spending.[13] As of October 2015, 35 percent to 40 percent of Saxbys is corporate-owned and the balance was 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". The Philadelphia Inquirer. Retrieved 2017-11-22.
  2. ^ a b "About". saxbyscoffee.com. Retrieved 2017-11-22.
  3. ^ "Q&A: Nick Bayer of Saxbys Coffee". phillymag.com. 30 October 2015. Retrieved 2017-11-22.
  4. ^ "Why Saxbys filed for bankruptcy". The Philadelphia Inquirer. 2009-09-04. Retrieved 2017-11-27.
  5. ^ "Saxbys readies new Center City store". The Philadelphia Inquirer. 2009-08-21. Retrieved 2017-11-27.
  6. ^ "Saxbys Coffee boss says bankruptcy won't slow growth (Update)". The Philadelphia Inquirer. 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. ^ Hilario, Kenneth (Sep 11, 2015). "Saxbys celebrates HQ move to Center City". The Business Journals. Philadelphia Business Journal. Retrieved 2019-11-02.
  9. ^ Lefton, Clara (Nov 7, 2016). "Cool offices: Saxbys Coffee". The Business Journals. Philadelphia Business Journal. Retrieved 2019-11-02.
  10. ^ Hilario, Kenneth (Sep 9, 2015). "Saxbys' new Center City HQ to push expansion". The Business Journals. Philadelphia Business Journal. Retrieved 2019-11-02.
  11. ^ Klein, Michael (September 10, 2018). "At Penn State, Saxbys opens its 7th student-run coffee shop". The Philadelphia Inquirer. Retrieved 2019-11-02.
  12. ^ "Student-Run Coffee Shop Opens on Monday". Saint Joseph's University. 2018-09-28. Retrieved 2019-08-20.[dead link‍]
  13. ^ Taylor, Jeff (2014-06-17). "Saxbys Introduces a New App for Your Coffee Fix". The Droid Lawyer. Retrieved 2017-11-27.

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