“Isn’t the market for X saturated?” After literally years of being told that by technologists about software, books, etc etc I can’t think of almost any market which has ever been saturated in the way that people claim every market is saturated. Freaking *Starbucks* is not.
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Famously,
@TheOnion 1998 "New Starbucks Opens in Rest Room of Existing Starbucks"https://www.theonion.com/new-starbucks-opens-in-rest-room-of-existing-starbucks-1819564800 …
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Most drug store success is won in real estate. From a former client (a chain): You can build on a lot that's off-by-one from an existing pharmacy's street address. The traffic can be 2-10x the other side, which you'd have previously estimated as the "total" customer base there.
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100%. I once heard a tale about a company who built a portable solar-powered water filtration device but was struggling with international distribution and logistics to get it to the areas that needed it most - remote, desert, etc. You know who was able to help them? Coca-cola.
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I wonder what's the relative cost of two adjacent Starbucks equipped and staffed for half as many customers versus just one consolidated one.
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There’s a stretch of US30 in Dyer, IN that has THREE identical Speedway gas stations within the same 200-yard stretch (one on the S side of the road, two on the N side) for exactly this reason.
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Look. If you drive to work, a Starbucks on the wrong side of the street is USELESS.
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Also tangential but interesting to note that (iirc) every standalone store is company owned, unlike McDonalds. Stores in airports and grocery stores are franchises. I *think* McDonalds owns the property and sells ground leases to operators? At least that's how it used to work.
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Yup, that’s how McDonalds works (not 100% of the time, but a large %). The real estate assets of McDonalds is worth over $30B with a B.
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I remembered the McD one. The real estate empire happened because Kroc was on the verge of bankruptcy.
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