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Starbucks Turns 40 And Not A Wrinkle In Sight.

March 8, 2011

Happy Birthday Starbucks. The coffee giant turns 40 this month and shows no signs of slowing down. Starbucks, founded in March of 1971, currently employs more than 137,000 people  and has over 17,000 locations worldwide.  USA Today published an article where they interviewed the CEO and Founder, Howard Schultz, on what we can expect from Starbucks in the next 40 years. According to Howard Schultz, Starbucks will be focusing on health and wellness by implementing a grocery only offering of course, “complementary products.” When asked how large they expect this Starbuck grocery to be, Shultz stated, “Our hope is that the scale will rival the size of our U.S. retail business.” Hmmm, wonder how Morton Williams is going to feel about that. We can also expect to see an increase in their social media following the success of their eGifting via Facebook and mobile payment apps. Shultz referred to their social media campaign as “the best of times for Starbucks” and expects to “become more relevant to our core customer and younger audience.”

So with all the expanding success of Starbucks, the real question is, how reasonable is it to expect consumers to pay up to $5 for a cup of coffee? Howard Schultz answered perfectly by saying, “The majority of people buying beverages at Starbucks don’t pay that much (but) keep in mind the healthcare we offer to our partners costs us $250 million per year.” Good answer coffee man.  Starbucks refers to their employees as partners, in an effort to make every barista feel like an integral part of the team. Partners can expect to receive on average a starting hourly wage of $10-12 dollars (more than most entry-level office jobs offer) with benefit offerings such as medical, dental, vision, 401k, life insurance, commuter benefits and tuition reimbursement. In 2009, Starbucks was named in Fortune’s, 100 Best Companies to Work For, for the 11th time. Aside from getting some of the best and rich coffee in the world, paying $5 bucks goes a lot further in Starbucks than you think. If only other big businesses modeled their employee relations the way Starbucks does, ahem ahem Wal-Mart. In addition to the coffee we all have come to love (or hate if you run on Dukin Donuts) Starbucks has stapled itself as a third home (aside from work and well, your real home). A place to relax with friends or get some research done using their WiFi access. It’s even become a new favorite place for dates. Makes sense, you can talk over a cup of coffee in a nice calm surrounding. Works much better than having to shout over the music at a bar. Starbucks, at its CEO Howard Shultz, are keeping things strong for the next 40 plus years and for the 60 million customers it serves a week, that’s a very good thing.

Are you a Starbucks fan? Here at GAI (www.gunwel.com) we keep our own office stocked with Starbucks coffee so you can have your favorite coffee while we handle all your tax and bookkeeping needs. Not a fan of Starbucks? Don’t worry I keep some other brands too! So stop by or give us a call at 212-979-6830. We are open Monday-Friday 8am-8pm and Saturdays 8am-5pm.

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2 Comments leave one →
  1. March 9, 2011 4:20 pm

    LOVE going to Starbucks to get work done and like you mentioned, its a great place to meet friends to catch up on “life”!

    Thanks for sharing!

    Michael
    OutMaturity

    • March 9, 2011 4:54 pm

      Starbucks is almost as relaxing as our offices at Gunwel. I like how you never feel like you’ve outstayed your welcome at Starbucks.

      Thanks for reading!

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