Panera Bread

1462 Words 6 Pages
The legacy of Panera Bread began in 1981 as Au Bon Pain Co., It was founded by the two friends Louise Kane and Ron Shaich. Panera’s bakery cafes are located in 44 states over the U.S. as well Ontario, Canada. In May 1999, all of Au Bon Pain Co., Inc.'s business units were sold, with the exception of Panera Bread, and the company was renamed Panera Bread. Since those transactions were completed, the company's stock has grown thirteen-fold and over $1 billion in shareholder value has been created. Panera Bread has been recognized as one of Business Week's "100 Hot Growth Companies." As reported by The Wall St. Journal's Shareholder Scorecard in 2006, Panera Bread was recognized as the top performer in the restaurant category for one-, …show more content…
They went for a “quality instead of quantity” strategy. Some of the restaurants that lowered their prices really took a hit when the number of customers they had projected didn’t meet the requirements. Shaich Panera’s CEO did things completely opposite of his competition. Instead of cutting prices down, he raised them twice, once on bagel and once on soup. He said that at Panera they didn’t offer a low-end strategy, he also said that the time was to increase the food experience. In a world where everyone was cutting back he wanted to give more, not less. Panera kept their employees, because they believed that by keeping labor consistent they were able to provide a quick good service. (Vincelette & Fogarty, 2012) At Panera they kept looking at the future, they wanted to implement new things, they wanted to test different things as well. A result of their testing is offered in stores today. When buying an entrée and a beverage you get the opportunity to buy a pastry at a “special” or discounted price.
Discuss the competitive landscape of the restaurant industry.
The competitive landscape of the restaurant industry is broken into different segments which is based on the type of dining the restaurant involved in as well as price. The most expensive restaurants are the fine dining ones, their meals are valued at $35 dollars and up. Then there are the upscale-casual restaurants, their meals are valued at around $18-$35. The meals that are valued around $12 to

More about Panera Bread

Open Document