Potbelly has a strategy for both its products and markets. As one of the fastest growing chains in the restaurant industry, Potbelly currently has approximately 135-140 stores across the country and intends to open 40-50 new stores within the next year. When it comes to products, Potbelly specializes in sandwiches. The company is dedicated to providing customers with fresh, made-to-order sandwiches, as well as homemade desserts, soups, shakes, and yogurt smoothies.
Potbelly employs a positioning strategy that prioritizes hiring friendly staff, serving high-quality food, and providing a pleasant atmosphere. This approach, coupled with using freshly baked bread and freshly sliced meat in each of their stores, sets Potbelly apart. Despite having a large number of stores (currently over 135), Potbelly remains dedicated to giving back to the local communities surrounding each location, with a focus on event promotions. They aim to attract young urban customers under the age of 35, which is crucial for the company’s projected growth.
Potbelly’s aims to be a cost-effective gourmet sandwich shop by offering all sandwiches at the same price. This allows customers to freely choose their preferred sandwiches without worrying about the cost. Additionally, each Potbelly’s store is strategically located in areas that are not saturated with sandwich shops. The intention is to attract the young urban demographic with its stylish decor and ambition to serve exceptional sandwiches.
Giving back to the community is a crucial part of Potbelly’s positioning strategy. They create a presence in the market through community events, goodwill, and word of mouth. The external environment presents both environmental opportunities and threats for Potbelly. These factors could potentially impact Potbelly’s current strategy. Their strategy involves opening new restaurants to expand while ensuring the quality standards of their existing restaurants.
Expanding globally would be an opportunity to enhance the growth of Potbelly’s. Opening international restaurants would greatly expand Potbelly’s and align with its current growth strategy. However, a potential threat to this strategy is the emergence and growth of other gourmet sandwich shops. If Potbelly’s competitors rapidly develop, it could adversely affect their current market position.
