"You only realize your mistakes after you've made them." - Stefan Tewes - Coffee Fellows

Show notes

From Doubt to Drive - Entrepreneurs Only This week with Stefan Tewes, Founder & CEO of Coffee Fellows (https://coffee-fellows.com/), the largest coffee shop chain in Germany, with over 300 units. Coffee Fellows was founded in 1999 and currently generates 120 million Euros in system sales, with 10 million Euros in EBITDA. The company operates in 9 countries with over 150 franchise partners.

Stefan shares with us the early beginnings of Coffee Fellows and how he initially underestimated the strength of local bakery chains in Germany, especially in smaller and mid-sized cities. He also expresses his respect for Starbucks while being motivated to provide an even better experience for his customers. Stefan discusses the company's U.S. expansion and the lessons he learned about running a successful business from his career in professional sports.

Instagram: https://www.instagram.com/coffeefellows/ LinkedIn: https://www.linkedin.com/company/coffee-fellows-gmbh/ Facebook: https://www.facebook.com/CoffeeFellowsDeutschland

Our key takeaways from our conversation are:

• A competitive market segment supports the idea that it is attractive. Co-existence is possible; it’s not a winner-takes-all scenario.
• Competition can either scare or motivate you.
• Success in the restaurant business requires long-term view.
• Exercise caution when integrating other brands.
• Stick to your location criteria and don't compromise.
• You only realize your mistakes after you've made them.
• International expansion requires taking risks; otherwise, you remain a domestic player.
• When going international, invest in brokers and agents to find the right partners.
• Start slow, learn from mistakes in the first shop, and grow afterward.
• Be frank during crises.
• Cultivate a willingness to win.
• Refocus on yourself and avoid blaming others.

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© From Doubt to Drive Podcast, owned and operated by Aperitivo International B.V Recorded on 10. May 2024 via Zoom in Germany (Stefan Tewes) – Mirissa, Sri Lanka (Mario C. Bauer) – Hamburg, Deutschland (Florian Schneider).