51:54Pizza & 40s with Phil Jaber, Founder of Philz Coffee
From My First Million · Published Jul 6, 2016 · Watch on YouTube
TL;DR
Phil Jaber founded Philz Coffee after spending 25 years perfecting his concept and 2 years visiting 1,100 coffee shops and restaurants. He opened his first shop in 2002 by converting his mini market and giving up a liquor license, lottery, and high-volume cigarette/alcohol sales.
Key insights
- Phil spent 25 years working on his concept without ever giving anyone a taste or selling it before opening in 2002.
- He took two years off in 1998 to revisit 1,100 coffee shops and five-star restaurants not to copy recipes, but to study why people go, what they expect, and whether employees are happy.
- He got rid of a liquor license, lottery, and high-volume sales (2,000 cartons of cigarettes per week, 2,000 cases of Budweiser per month, truckloads of liquor) because he had faith in his coffee conce
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