Starbucks’ largest franchise partner in the UK posts 12% revenue growth for 2022 and is nearly a third of the way to its 2027 growth target of reaching 300 stores
.jpg.aspx?lang=en-GB&width=700&height=525)
Starbucks currently operates 284 drive-thru sites in the UK | Photo credit: 23.5 Degrees
UK-based Starbucks franchisee 23.5 Degrees has reported steady revenue growth for 2022 and continues to make progress on tripling its store count across the country within the next four years.
Reporting on the 12 months ended 31 August 2022, 23.5 Degrees achieved 12% year-on-year sales growth to reach £75m ($92m).
The company said pre-tax profit fell from £10m ($12.3m) in 2021 to £8m ($9.9m) last year.
23.5 Degrees opened six new stores in the reporting period to reach 90 across the UK, half of which are drive-thrus.
With 50 new outlets in the pipeline over the next 12 months, the Southampton-based franchisee plans to reach 300 stores by 2027, predominantly with new drive-thru outlets close to major retail sites and industrial estates, as well as high footfall high street locations.
23.5 Degrees, which opened its first Starbucks store in February 2013, has opened three further sites since September 2022.
World Coffee Portal research estimates the total UK branded coffee shop market comprising over 9,880 outlets, having added 413 sites over the last 12 months.
Project Café UK 2023 indicates that Starbucks added 67 new stores across the UK in 2022 to reach 1,156, making it the second largest coffee chain in the UK by outlets behind Costa Coffee's 2,694.
The Seattle-based coffee chain currently operates 284 drive-thru sites in the UK.
