Potbelly Sandwich Works

Topics: Potbelly Sandwich Works, Sandwiches, Sandwich Pages: 2 (614 words) Published: April 21, 2010
“Potbelly Sandwich Works”
Potbelly Sandwich Works is a privately held restaurant chain that sells submarine sandwiches in the United States. Potbelly Sandwich Works began in 1977 founded by Peter Hastings. The original store is located in Chicago, in a retail space that was previously an antique store, Hindsight, also owned by Hastings. Many of the items that decorate the store were taken from the former business. Despite the fast-paced, never-a-dull-moment world of antique dealing, the couple decided to bolster their business by making sandwiches for their customers. What began as a lark, turned out to be a stroke of genius. Soon, people who couldn't care less about vintage glass doorknobs were stopping by to enjoy special sandwiches and homemade desserts in this unusual atmosphere. Its name is derived from potbelly stoves common in the late 19th century. In 1998, Bryant L. Keil purchased the original store and expanded Potbelly to over 200 stores in Illinois, Indiana Michigan, Minnesota, Ohio, Texas, Maryland, Virginia, Pennsylvania, New Jersey, Washington D.C., Kentucky, and Wisconsin. When Bryant Keil paid $1.7 million for Potbelly Sandwich Works in 1996, people thought he was crazy. Convinced he could take the unique sandwich joint to the next level; Keil acquired Potbelly and has since grown the concept into a 10-state chain that posted 2006 revenue of $140 million. Although Potbelly has many sandwich shop rivals and competition in the fierce quick-serve segment of the restaurant industry, Potbelly has more than held its own. Billed as “a unique and quirky sandwich joint,” it has a unique appeal. Potbelly’s core strategy elements include the 4P’s- Product, Place, Promotion, and Price. As the years passed, the lines grew. Booths were added, along with ovens for toasting sandwiches to perfection, vista-coolers, napkin dispensers, hand-dipped ice cream - even live music. The little antique shop had become the full-fledged, totally unique sandwich...
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