Swansea coffee franchise business plans to create 4,000 jobs

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A Swansea-based coffee franchise business plan to create over 4,000 new jobs as part of a major expansion following new £10m funding from HSBC.

The Magic Bean Co, which was established in 2014, plans to expand its current 24 locations operated by a Starbucks franchise to 200 over the next five years.

The major expansion could see more than 4,000 new jobs created as several new drive-through Starbucks stores open across the UK.

The business, which had sales of £17million in 2021, intends to launch nine new Starbucks locations this year, with locations to be announced.

The company, which also has franchise locations for Denny’s, currently employs 370 people and is working closely with Starbucks to identify growth opportunities in new locations.

Leon Esfahani, Managing Director of The Magic Bean Co, said, “As more companies enter the drive-thru market, we are marking an exciting new chapter with this funding, which will allow us to accelerate our rate of growth.

“Daniel Rees, our relationship manager at HSBC UK, has been instrumental in helping us secure the funding needed to deliver immediate and longer term growth plans – meaning we can continue to deliver exceptional service. in our communities and, above all, to give back.”

Warren Lewis, Head of Corporate Banking in Wales for HSBC UK, added: “We are delighted to support the company’s ambitious plans to deliver exceptional growth and create new local jobs over the next five coming years. The demand for drive-thru and take-out services continues to grow across the country and Magic Bean’s well-managed team is ready to take advantage of it.

The Magic Bean Co has raised over £55,000 for various charities and collected over 9,000 Christmas gifts for children’s charities.

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