The Drip Coffee
has been in business since 1992. The vision behind
the organization was to create a presence in Orange County and
grow the organization year after year. Michael Peltz, a native
to Orange County had entered this business after many years working
in the retail industry. Several years later Scott Cohen became
a business partner to provide valuable business insight and to
work on the growth of the business.
Given the start of the Coffee boom in the nineties Michael
(President) decided to spend several months researching the industry
in order to identify how he could build a successful business
in Orange County. After a comprehensive look at the business
Michael approached the owners of a Coffee Location at Hutton
Center in Santa Ana. Several months later (Feb 1993) Michael
was in business with his first location working for Koll Management
at Four Hutton Center.
The business immediately became successful and within one
year Michael was approached by Cushman and Wakefield Mgt to open
another location at Three Hutton Center. The businesses ran for
several years and had growth beyond any other business at the
Center. Both locations prospered and combined, revenue reached
nearly $180,000. Midway through the opening of the second location
we were contacted by a customer about another opportunity at
Orange Coast College. We immediately put a proposal together
and were granted the location in August of 1994. At this point,
the business had grown to 12 people with three locations running.
Given the revenue growth at Orange Coast College, Michael decided
to sell the Hutton Operations in order to fund his pursuit of
additional College Campus locations.
In March of 1998 Scott Cohen (COO) joined The Drip Coffee
to help grow the business to several locations. Scott's role
in the organization was to identify additional locations in which
the organization could continue meeting its long-term revenue
goals along with managing the macro operational issues. Through
our loyal customer base at Orange Coast College we were referred
to Golden West College about another potential location in 1998.
We approached Sodex Ho Marriott, at Golden West College and
had our next location open within thirty days of our proposal.
Our long term relationship with Sodexho has allowed us to provide
our customers with an excellent consistent solution for many
years. We believe Saddleback College is simply the next step
in the growth of this relationship.
Our success at Golden West opened our next opportunity at
Santa Ana College. We were approached by Sodex Ho Marriott at
Santa Ana College and opened up the next location in January
of 1999. We had now gotten the business back to three locations
and were driving revenues north of $300,000.
After a long tenure at Orange Coast College we were once
again approached to open a second location on campus. In August
of 2001 the second location went live.
Our relationship with Sodex Ho Marriott allowed us to continue
growing our organization. The sister college of Santa Ana College
(Santiago Canyon College) had a need for a Coffee Kiosk vendor.
We launched that location in the Spring of 2003. Over the years
we have learned a tremendous amount about working with the schools
as well as working for Sodex Ho Marriott. Our growth and success
can primarily be attributed towards our commitment to details
and work ethic.
Currently we have ten (10) locations running, with revenues
of over $1,000,000. The team has grown in accordance with the
business and we now have six regional managers with over 15 years
of combined experience along with 40 other members of the team.
Through the years we have learned a tremendous amount about
growing and running a business. Our policies and procedures have
been created to allow the company to run efficiently and our
experience has allowed us to build an incredible product mix.
We truly believe that our experience and success in this
business will be more than sufficient to allow us to successfully
run additional locations. This endeavor is simply the next step
in the evolution of The Drip Coffee to meet its long-term goals.
We anxiously await your response and look forward to the opportunity
to grow our business.
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