Potbelly Sandwich Shop facts for kids
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| Public | |
| Traded as | NASDAQ: PBPB Russell 2000 Component |
| Industry | Fast casual |
| Founded | January 14, 1977 |
| Founder | Bryant Keil |
| Headquarters | The Gogo Building, 111 N. Canal Street,
Chicago, Illinois, U.S.
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Number of locations
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427 (as of March 28, 2024) |
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Area served
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United States |
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Key people
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Robert Wright (president & CEO) Bryant Keil (founding chairman) |
| Products | Sandwiches, salads, soups, ice cream |
| Revenue |  US$485.1 million (FY Ended 9/24/2023) |
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Operating income
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-US$22.49 million (FY Ended 12/26/2021) |
| -US$23.78 million (FY Ended 12/26/2021) |
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| Total assets |  US$253.24 million (FY Ended 12/26/2021) |
| Total equity | -US$2.42 million (FY Ended 12/26/2021) |
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Number of employees
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5,500 (As of December 26, 2021) |
Potbelly Corporation, known to most people as Potbelly Sandwich Shop, is an American restaurant chain. It is famous for its toasted submarine sandwiches and tasty milkshakes. The company is "publicly traded," which means people can buy small pieces of the company, called shares, on the stock market.
The first Potbelly opened in Chicago in 1977. The name comes from the old-fashioned potbelly stove that was used to heat the shop and toast the first sandwiches. Besides sandwiches, Potbelly also sells soups, salads, smoothies, cookies, and potato chips. In the past, some shops even had live music from local artists during lunchtime.
Contents
How Potbelly Got Started
The Potbelly story begins in an unusual way. In 1971, a man named Peter Hastings opened an antique store in Chicago's Lincoln Park neighborhood. Inside the store was a big, round potbelly stove.
To make his customers feel welcome, Hastings started using the stove to make warm, toasted sandwiches for them. People loved the sandwiches so much that in 1977, he turned his antique shop into a full-time restaurant called Potbelly Sandwich Works. The fresh bread for the sandwiches has been supplied by the Turano Baking Company in Chicago since the very beginning.
Growing the Business
In 1996, a businessman named Bryant Keil bought the original Potbelly shop. He saw that it could be much bigger. He opened a second store in 1997 and then kept going. Under his leadership, Potbelly grew to more than 300 stores across the United States.
To help the company grow, Potbelly got help from investors. One of these investors was a company started by Howard Schultz, the founder of Starbucks.
Most Potbelly shops are owned by the company itself. However, some are franchises. A franchise is when a person pays to open a store using the company's name, menu, and style.
New Ideas and Going Global
Potbelly has always tried new things to serve its customers better.
- In 2007, the first Potbelly with a drive-through opened in Glen Ellyn, Illinois. This allowed customers to order and pick up food without leaving their cars.
- In 2011, Potbelly went international by opening two franchise locations in Dubai, a city in the United Arab Emirates.
- In 2015, the first Potbelly in Europe opened in London, England. A year later, a shop opened in Toronto, Canada.
- In 2017, Potbelly expanded to India, with plans to open more locations there.
Potbelly in Recent Years
Like many businesses, Potbelly faced challenges during the COVID-19 pandemic. Sales went down, and some stores had to close. However, the company worked hard to bounce back.
In 2020, Robert Wright, who used to work for the fast-food chain Wendy's, became the new CEO of Potbelly. Under his leadership, the company started growing again. In 2022, Potbelly announced plans to open 19 new stores, and by 2023, that number grew to 40. The company also made a deal to open 22 new shops in the Seattle-Tacoma area of Washington state.
In 2024, Potbelly updated its Potbelly Perks loyalty program. This program gives regular customers special rewards and benefits.
See also
