NEWS never hurts.........
Baristas CEO Gives Company Update
SEATTLE, Oct 20, 2010 (BUSINESS WIRE) -- Baristas Coffee Company (Pink Sheets: BCCI) AKA "Baristas" SeaTac WA CEO Barry Henthorn provides an overview of the Company.
Baristas Coffee Company "Baristas" owns and operates drive through espresso locations throughout the Pacific Northwest in highly visible locations which utilizes attractive female baristas who wear costumes while serving its customers with a smile.
Baristas provides its customers the ability to drive up and order their choice of a custom-blended espresso drink, freshly brewed coffee, or other beverages. Baristas offers a high quality option to fast-food, gas station or institutional coffee. Barista's drive-through approach is convenient, while the costumes and the employees wearing them make the company all the more unique in comparison with other coffee establishments. The coffee, smoothie and blended tea drinks are extraordinary, in addition to the pastries and other confections it offers.
We are pleased to report that all of our locations including our new Flagship location which has just recently opened are cash flow positive and are contributing positively to the Company's bottom line. This was accomplished by focusing our efforts on only those locations that we felt properly fit our overall business model moving forward, and suspending or discarding those that did not. This has allowed us to continue with our plans to expand our operations. As an example, our Flagship location recently opened in Kent, WA September 13, 2010 just 17 days after securing the location, and has already achieved a daily revenue stream sufficient to sustain the location with positive cash flow within just weeks from its opening. Implementing this plan has resulted in a dramatic shift in the company's overall margin and financial viability. In addition it allowed us to reduce our management staff accordingly in order to streamline our operations and concentrate on refining our business processes.
Secondly, we have made significant progress regarding the control and visibility of our accounting and financial position of the company, further reduced our cost of goods sold, and solidified our supply chain. We will continue to strive to increase our margins using this information to further reduce shrinkage and maximize our revenue and increase overall brand awareness. In an effort to increase revenue we have begun selling additional items such as Muffin Tops, Energy Bars, and selected other ancillary items. Additionally we will be launching our apparel store online including hats, shirts, and other novelty items as well as having some merchandise available in our locations. We have converted all but two of our stands to our "Baristas" theme of checkers with a red upper body and will continue to enhance the visibility and appeal of our locations.
Our launch has afforded us many successes but they have not come without challenges. There have been mistakes made and learned which has allowed us to grow. Many of these obstacles have been overcome; while others still require ongoing efforts in order to resolve to maturity. In retrospect we have made significant strides after evaluating all we have learned, we are convinced of the viability and future of our business.
I encourage you to call me at (206) 579-0222 or e-mail me at barry@baristas.tv. I am open to discuss any matters relating to the company with any of you and I will be providing periodic updates and welcome your suggestions and candid feedback.
Barry Henthorn CEO
