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Young Entrepreneur Sees Coffee Differently, and Succeeds

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  • Description

    Gregory Zamfotis, Gregory's Coffee CEO, breaks down his keys to success.

  • Duration 3:39
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I think Cheryl -- the -- classic tale of that David vs Goliath story now.

Now we're gonna talk to -- -- -- our next guest company and up and coming.

Get coffee shop chain right in Manhattan opening its first location Ted day right across the street from the Goliath.

The mass of coffee maker Starbucks.

So -- of a small chain.

Compete with a giant joining me now for this week's small business big ideas as Gregory's -- -- president and CEO of Gregory's coffee.

Thanks very much for being with -- so it's 2006.

You open up you graduate law school and then you decide I'm not going to be a lawyer.

That's correct I.

You know I grew -- -- for its food service industry and never really thought I was gonna be opening my own shop this really -- age but.

Law school wasn't really for me so watching back to my roots and decide to open a coffee shop and since then it's just been working rather well for me.

-- go up against Starbucks having the idea is even when there's a dominant guy in the category there -- other customers who want something different so that helped you.

Start listing out years -- store.

My understanding is -- can -- like 250000 dollars to open a store.

Million dollars in revenue a year but what are some of the secrets to competing in the shadow of giants -- -- let's go sillier rules of the applicable three rules Nikkei up with the rule number one.

You said was be different but not too different tells -- that.

That's correct so.

You know we pick a few different things -- we wanna do that highlight what makes us a little bit different from Starbucks -- tagline is actually see coffee differently so we're always looking for new and interesting ways.

To repair coffee so -- You know for example we do a cold brew iced coffee as opposed to Starbucks which usually bruise their coffee hot.

Slowly cools it down he's a very different type a taste it's hot outside right now everyone wants ice coffee.

Ours is really great and delicious something different as compared to Starbucks right you don't beat him up in big -- -- it intends to separate and that's -- and the company does it does you know customers like to feel like -- -- is made specifically for them.

Takes a little bit more training for Greece actually make -- drink one cup -- at a time.

Instead of make it for large groups so alone takes a bit more effort on -- -- -- the customers really appreciate the service also -- -- feel like Starbucks is kind of slope oh yeah how well slow you know they're not -- had a suspicion as they could be I also went to business school -- operations management so that was something that I.

-- -- right early -- was making sure that we get all right and now quickly.

And rule number two of comedian with a giant use your personal brand so I see you make your personal appearance -- shock -- black hair the framed glasses it's even on this logo here yeah.

You know it's two coffee cups and a mop -- hair but people say it looks like me I don't know that's a face or whatever but.

A -- as a complement its to cool quirky little logo that allows -- just interject myself into the brand.

And -- the -- called Gregory's coffee than you -- your regulars are called regular you hand out to frequent flier cards yeah we have cars like this there regular card.

A customer actually came up with that name and we liked it instead of a regular we call them regulars and they get a kick out of the -- data on pretty yet and rule number three you say.

If you want to start over what -- some of the station made stuff he offered -- -- Yeah you know we -- over the ideas -- -- and innovate.

Obviously not everything works so we take a shot you know we tried.

High end tease -- invest in some new.

Ways to make -- and bought a lot of interest in -- small around the world and tried to push it and customers really didn't buy into it as much as we hope they would so you know we scrapped it -- damages -- disaster could he is your core competency or coffee shop you know it's really tough to make.

Sandwich as well when we're really focusing on coffee so we.

We give it a shot didn't work.

-- -- scrapped it you know six -- multimillion dollar business open -- Starbucks directly today thank you for being with -- -- them voted to let -- thank you so much -- --

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