Starbucks Coffee celebrated its 40th birthday this year, and although the last recession caused some shake-up within the organization, the company is once again expanding its business. According to an article on MSNBC.com, Starbucks’ expansion plans include 200 new U.S.-based stores in the next fiscal year. The domestic growth plans pale in comparison to the international plans, which call for 500 locations this year and 600 in the coming year.
The company already knows the dangers of rapid expansion, and while the addition of 200 new stores was surprising to some analysts, the company says it is planning this expansion more carefully. Over the past few years, Starbucks has taken a step back and assessed each individual store as well as the company’s overall business model.
The Starbucks of today looks different than it did just a few short years ago. The company now has a new logo, a new menu and new sustainability initiatives. Starbucks may even be expanding into new markets, including smaller cities. The expansion plans also call for more retail-based locations instead of stand-alone Starbucks stores.
At a time when the economic recovery looks like it is at risk, any expansion plan from businesses is good news. When the business has the reach and brand name recognition that Starbucks does, the news is even better. Perhaps other businesses will follow suit and start expanding; it would be great to see that unemployment figure drop significantly in the coming year.