Scooter’s Coffee, the coffee franchise business that has had a strong wave of growth nationwide over the last year, has just announced it is partnering with ApplePie Capital to offer existing franchisees and those just now taking advantage of one of its franchise opportunities access to up to $20 million of debt capital.
The Midwest-based coffee chain is making this move to help fuel its expansion across the US. Aiming to become the top drive-through coffee business nationwide, Scooter's is part of the estimated $48-billion-per-year coffee industry and intends to grow strategically across the nation.
Chad Harnett, the brand's Chief Financial Officer, said the coffee chain is thrilled to partner with ApplePie Capital, since the innovative marketplace lender understands the company and its plans to boost growth and brand awareness.
ApplePie Capital Co-Founder and CEO Denise Thomas added that her company is excited to add Scooter's to the list of franchisers that it services, and she noted that ApplePie is very selective about which franchisers they partner with. According to Thomas, partners must have successful franchisees, low closure rates and strong unit-level economics, all areas in which Scooter's excelled.
Started back in 1998 by Linda and Don Eckles, Scooter's Coffee roasts its beans right at its Nebraska headquarters and specializes in fruit smoothies, hand-tamped espresso drinks, and baked-from-scratch baked goods. Currently, this brand is in the midst of an exciting growth phase and has franchise opportunities available all around the nation. The total initial investment ranges from $366,500 to $587,000, depending on location and format.
