The Cup 'O' Joe coffee shop chain is expected to open a branch in New York as part of its expansion into the US market, Calcalist reported Monday.
According to the report, David Klein, one of the chain's owners, is currently in the US scouting a suitable location for the chain's first branch there, apparently in Brooklyn's Park Slope neighborhood.
The initial investment in the New York branch is estimated at NIS 9.5 million (about $2.5 million), which is much higher than the estimated cost of opening a Cup 'O' Joe in Israel – NIS 1.5 million ($400,000).
Klein told Calcalist that the chain will partner with two American businessmen to open the 1,600 sq. ft. New York branch in nine months' time.
The chain plans to open additional Cup 'O' Joe branches in the US.
"I believe we will open three or four braches (in the US) within the next two years, particularly in the periphery," Klein said. "We bring a combination of gourmet coffee with a plentiful diner menu. This is rare in Brooklyn."
RSS
