Panera Bread Outline
Shaich, CEO and Chairman of Panera Bread Company, combined the ingredients and cultivated the leavennign agent that catalyzed the companys phenomenal growth.
** Under Saich’s guidance, Paneras total systemwde revenues rose from 350.8 Million in 2000 to 1353.5 million in 2009, consisting of 1,153.3 million from company-owned bakery-café sales, 78.4 million from franchise roylalties and fees, and 121.9 million from fresh dough sales to ffranchisees.
Panera’s shares have outperformed every major restaurant stock over the last 10 years. Panera’s share price has risen over 1,600% from 3.88 a share on December 31, 1999, to 67.95 a share on Deember 28, 2009.
Panera largerly led the evolution of what became kniown as the “fast casual” restaurant category.
History
Panera Bread grew out of the company that could be considered the grandfather of the fast casual concept: Au Bon Pain.
1976, French oven manufacturer Pavaille opened the first Au Bon Pain in Boston’s Faneuil Hall as a demonstration bakery.
** Struck by its growth potential, Louses Kane, a veteran venture capitalist, purchased the business in 1978.
Between 78-81, Au Bon Pain opened 13, and subsequently closed 10, stores in the Boston area and piled up $3 million in debt.
In 1980, after opening the cookie jar bakery in Massachusetts, Saich, a recently Harverd Business graduate, befriended Louis Kane.
Shaich was interested in adding bread and croissants to his menu to stimulate morning sales. He recalled that “50k ppl a dayt were going past my store, and I had nothing to sell them in the morning.”
1981 => the two merged the Au Bon Pain bakeries and the cookie store to form one business, Au Bon Pain Co. In.
1985 => the partners added sandwiches to bolster daytime sales as they noticed a pattern in customer behavior.
** Differentiated from other fast-food competitors by its commitment to fresh, quality sandwiches, bread, and coffee, Au Bon Pain attradcted customers who were happy to pay more money
** Under Saich’s guidance, Paneras total systemwde revenues rose from 350.8 Million in 2000 to 1353.5 million in 2009, consisting of 1,153.3 million from company-owned bakery-café sales, 78.4 million from franchise roylalties and fees, and 121.9 million from fresh dough sales to ffranchisees.
Panera’s shares have outperformed every major restaurant stock over the last 10 years. Panera’s share price has risen over 1,600% from 3.88 a share on December 31, 1999, to 67.95 a share on Deember 28, 2009.
Panera largerly led the evolution of what became kniown as the “fast casual” restaurant category.
History
Panera Bread grew out of the company that could be considered the grandfather of the fast casual concept: Au Bon Pain.
1976, French oven manufacturer Pavaille opened the first Au Bon Pain in Boston’s Faneuil Hall as a demonstration bakery.
** Struck by its growth potential, Louses Kane, a veteran venture capitalist, purchased the business in 1978.
Between 78-81, Au Bon Pain opened 13, and subsequently closed 10, stores in the Boston area and piled up $3 million in debt.
In 1980, after opening the cookie jar bakery in Massachusetts, Saich, a recently Harverd Business graduate, befriended Louis Kane.
Shaich was interested in adding bread and croissants to his menu to stimulate morning sales. He recalled that “50k ppl a dayt were going past my store, and I had nothing to sell them in the morning.”
1981 => the two merged the Au Bon Pain bakeries and the cookie store to form one business, Au Bon Pain Co. In.
1985 => the partners added sandwiches to bolster daytime sales as they noticed a pattern in customer behavior.
** Differentiated from other fast-food competitors by its commitment to fresh, quality sandwiches, bread, and coffee, Au Bon Pain attradcted customers who were happy to pay more money