A new coffee start-up, Blank Street Coffee, is in the midst of a fundraising round. The San Francisco-based company is targeting a young demographic with a unique model. It’s focused on exceedingly small stores and zero-emission coffee.
It’s not exclusively targeted to Gen Z customers
While Blank Street isn’t exactly the coffee shop of your dreams, it does provide an adequate caffeine fix for your morning. The company has more than 40 locations in New York, Washington, DC, Boston, and London. They’ve got an e-commerce plan on the way as well. For now, though, they are a viable option for Millennials and Gen Z alike.
Getting a cup of joe can be a chore, especially in the Big Apple. In fact, you can grab a decent java for a relatively modest sum in Manhattan. Some of the locations are small, like a lone coffee bar tucked into a strip mall, while others are spacious, like the newer location on the Upper West Side.
In the words of the folks at Blank Street: “Blank Street Coffee is a micro coffee shop chain with more than 40 locations in the Big Apple. We started by sourcing our food from local vendors and roasting our own beans in August. Soon, we will be transitioning to an e-commerce model, but until then, we will be providing coffee and snacks at our brick and mortar locations.”
It’s a “turn-away from millennial artisanal culture”
A recent study in the Wall Street Journal suggested that Blank Street Coffee has a leg up on its fellow coffee brethren in terms of popularity. According to the study, the company’s customer base is largely made up of the 37 and older set, with an average age of just over three decades.
As such, the brand is a prime target for any new entrant in the market. In order to compete, the company has tapped into a number of well-heeled companies and organizations to bring a splashy new menu to the masses. Among them are Chamberlain Coffee and 818 Tequila.
The duo has been featured in many a high-end hotel and restaurant. They have also been spotted at the hipster enclave of Williamsburg, Brooklyn.
The most enticing news is that the company has been able to expand its footprint and reach into more and more cities. For example, the company recently opened a store in Chicago’s Hyde Park, which is the perfect location for the company’s upscale java offerings.
It’s a zero-emission coffee start-up
Blank Street Coffee is a sustainable coffee start-up based in New York City. The company operates a mix of kiosks and food trucks in the city. It is dedicated to partnering with local purveyors and vendors. In addition, the company offers a variety of beverages and sweet and savory bites.
Blank Street began with a coffee cart on Wythe Avenue. It advertised local bagels, pastries, and coffee beans. A few years later, the company expanded to the Cobble Hill neighborhood in Brooklyn, where it opened its first brick-and-mortar store.
In October 2021, Blank Street secured $7 million in seed funding. This funding included Warby Parker investors Joey Zwillinger, Neil Blumenthal, and Jeff Raider. Since then, the company has raised $25 million in Series A funding.
Blank Street’s founders initially sought to provide an affordable alternative to Starbucks. The chain has since branched out into SoHo, Midtown, and tourist attractions in Manhattan.
It’s in negotiations to raise a new funding round
The team behind the cult coffee chain Blank Street Coffee Roasters wants to change how you shop for your caffeine fix. They want to build stores that create a sense of wonder and allow you to linger. As you might have guessed, they aim to make a profit.
This year, they are in negotiations to raise a new funding round. Their next round is expected to be worth about $60 million. These funds will enable them to expand their operations, especially in New York City.
But they are not alone in their quest to revolutionize the coffee industry. Starbucks has also made an effort to change the way Americans drink coffee.
Blank Street also has a mobile coffee cart. This one is designed to deliver its wares to commercial neighborhoods. It will roll around Brooklyn and Manhattan.
Blank Street’s model focuses on exceedingly tiny shops
Blank Street is an ambitious micro coffeeshop chain that aims to become the new Dunkin’ Donuts for millennials. The company operates small stores in New York City and hopes to expand to 100 locations by 2022.
At first, Blank Street relied on local roasters to supply its coffee. However, the business model soon evolved. They now roast their own beans.
Most locations are less than 350 square feet. With a semi-automated Eversys espresso machine, baristas can serve multiple shots to customers at a time. Customers can also pre-order their coffee through an app.
A 16-ounce iced latte costs $5. Blank Street’s coffee is brewed from a light drip and has a floral, mild flavor. Their oat milk is a nice touch.
Blank Street has opened 11 locations in New York City over the last year. Typically, they operate with two employees on a shift. This allows the company to pay the employees a minimum wage of $23 per hour, including tips.