Replies to post #26598 on Baristas Coffee Company, Inc. (BCCI)

[payperview]

No, they don't. They do not own the real estate.

[Yaakov]

Actually, they own 51% of the business operations on franchise. They do not have claims to any franchisee's real estate (ie new construction for Cape Coral location).

[BobSinCA]

Re your assertion:

They own all of the locations and there are twelve not 8.

First, surprised that with franchising wizards part of the company for several years, documents filed in most states, and the program promised in the Prime Equity report of December, 2011 (50 franchisees to open by end of 2012), that there are NO current franchisees.

Moving on, number of active locations is worthy of discussion.

Page 15 of the company's recently published financials says

The Company had 10 stores operating during the current reporting period.

And the discussion of projected lease requirements (page 16) also shows ten stores -- interestingly, none in Texas (where two have been opened, but perhaps not still open) and only one in Montana (where two were purchased a year ago, if I remember right).

At the end of the day, BCCI wins if they have a business model which can make money -- and the 'flatness' of the open store count would suggest that at best, that is an open issue -- except for franchisees, which appears to be a negatively closed issue per your comment that currently all open stores are company owned despite the stated resources focused on franchising. Perhaps Florida will enable BCCI to enter into a new world??