Posted on Nov 6, 2017
When Starbucks Shut Down Teavana, This Military Veteran Saw Opportunity
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Inc.com article from September 2017 on Rakkasan Tea Company. It is a start-up founded by OEF veteran from 101st Airborne Division. The company sources Afghan tea in order to help native Afghans with small business and provide entrepreneurial opportunity to those who served America.
When Starbucks Shut Down Teavana, This Military Veteran Saw Opportunity
Posted from inc.comPosted in these groups: 101st ABN
Entrepreneurship
Small Business
Operation Enduring Freedom (OEF) - Afghanistan
Food and Beverage
Entrepreneurship Small Business Operation Enduring Freedom (OEF) - Afghanistan Food and Beverage
Edited 7 y ago
Posted 7 y ago
Responses: 1
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Best of luck to the guy. However if Starbucks couldn't get the business to be profitable I see a hard road ahead for this company.
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LTC Eugene Chu
True, but one issue with Teavana was retail presence. The number of mall stores was too costly. This company will likely have an online presence similar to 'Rumi Spice'. While still costly, it will cut down on expenses based on far less real estate.
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LT John Chang
Exactly, LTC Eugene Chu - not all businesses are meant for retail presence.
There was a cafe in San Gabriel Valley, where I used to go because I knew it would be quiet for working online. But it troubled me because besides my selfish motivation of not wanting to lose this great spot, I was also concerned how the owner stayed in business.
Talking to him, it turned out that this savvy entrepreneur wholesaled most of the coffee that got pumped into the various area restaurants and cafes. Very little of his income came from the lattes and what not of the retail storefront.
There was a cafe in San Gabriel Valley, where I used to go because I knew it would be quiet for working online. But it troubled me because besides my selfish motivation of not wanting to lose this great spot, I was also concerned how the owner stayed in business.
Talking to him, it turned out that this savvy entrepreneur wholesaled most of the coffee that got pumped into the various area restaurants and cafes. Very little of his income came from the lattes and what not of the retail storefront.
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