History of Starbucks - 991 Words

History of Starbucks Starbucks started in 1971 when three academics opened a store called Starbucks Coffee, Tea and Spice in Pike Place Market in Seattle. The three academics, writer Gordon Bowker, English teacher Jerry Baldwin, and History teacher Zev Siegel, shared a passion of exotic teas and fine coffees and believed that in Seattle, they would be able to build a clientele. Each academic invested $1,350 and borrowed $5,000 from a bank to open the original Starbucks. Baldwin, Siegel and Bowker chose the name Starbucks in honor of Starbuck—the coffee-loving first mate in Herman Melville’s Moby Dick. At least, that is what the legends are. They believed the name evoked the romance of the high seas and the seafaring tradition of the†¦show more content†¦Upon his return home, it took Schultz nearly a year to convince Baldwin to let him test an espresso bar. Starbucks’ sixth store, opened in April 1984, became the first one designed to sell beverages and the first one in downtown Seattle. There was no pre-opening marketing blitz and no sign announcing Now Serving Espresso, the lack of fanfare was part of a deliberate experiment to see what would happen. By closing time the first day, some 400 customers had been served, well above the 250 customer average of Starbucks’ best-performing stores. Within two months, the store was serving 800 customers per day. Schultz made up his mind to leave Starbucks and start his own company in 1985. His plan was to open espresso bars in high-traffic downtown locations that would emulate the friendly, energetic atmosphere he had encountered in Italy. Ironically, as Schultz was finalizing the documents for his new company, Baldwin announced he would invest $150,000 if Starbucks’ money in Schultz’s coffee-bar enterprise, thus becoming Schultz’s first investor. Bowker and Baldwin helped Schultz with his plans over the next six months. Schultz continued with his esp resso bar, Giornale. In March 1987, Baldwin and Bowker decided to sell the Starbucks operation in Seattle—the stores, the roasting plant, and the Starbucks name. Bowker wanted to cash out his coffee-business investment to concentrate on his other enterprises; Baldwin elected to concentrate on the Peet’sShow MoreRelatedHistory of Starbucks1148 Words   |  5 PagesHistory of Starbucks Starbucks is the leading retailer and roaster for brand specialty coffee in the world. Starbucks corporation is an international coffee and coffeehouse chain based in Seattle Washington. Starbucks is the largest coffeehouse company in the world, with over 16,000 stores in 94 countries such as: Asia, Europe, and the Middle East (Sewer, 2004). Starbucks sells drip brewed coffee, espresso-based hot drinks, other hot and cold beverages, snacks, pastries and items such asRead MoreThe History Of Starbucks. 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