Individual Case Study
Finagle A Bagel is truly successful and fest growing company. For 14 years, since 1998 up to 2012, company grow in to 20 stores and $20 million in annual revenue. What is the secret of such successful story? What company does differently? Is it a new idea, new type of business, or new company structure with new style of management? So, what drives Finagle A Bagel to success?
Finagle A Bagel was started in 1991 by Larry Smith, engineer on General Electric Corp. He decided to do a test, to make bagels using Boston water,because he was told from veterans bagel maker that “not possible to make good bagels outside of New York City because nowhere else has water that tastes quite the same as Gotham's.” So, he brought a pail of water from Boston to New York City, in the bagel’s shop he made one batch of bagels from New York City water another one using Boston’s water . "There was absolutely no difference between them," Smith reported. "What makes the difference is equipment, process and ingredients." In 1991, Smith opened his first Finagle A Bagel in rented place with 900 square-foot in the Faneuil Hall. The name for his business he got from his former job (he was quit his job at GE). His boss liked to say, "OK, it's time to finagle the bagel." Since 1991 until 1998 his business was growing about 25% per year, and reached about 13.5 million in annual revenue. In October 13, 1998 Larry Smith sold his business to Laura B. Trust and her husband Alan Litchman. Now company occupied 46,000-square-foot place in Auburndale, has 20 stores with $20 million in annual revenue and has about 225 employees, and has ability to supply up to 100 stores.
Finagle A Bagel is really successful and growing company, and to figure out why it happened need to look deeper into company, make more detailed analyses. One of the things that helps