Soon after declining Starbucks's buyout offer, Hyman received the expected news that the company was opening up next to one of his stores. But instead of panicking, he decided to call his friend Jim Stewart, founder of the Seattle's Best Coffee chain, to find out what really happens when a Starbucks opens nearby. "You're going to love it," Stewart reported. "They'll do all of your marketing for you, and your sales will soar".Contrary to popular belief Starbucks, instead of destroying it, is promoting a thriving Mom & Pop coffee house industry. With the number of independent owned stores growing 40% between 2000 and 2005 and a less than 10% failure rate you might want to start looking for an empty storefront next to your local branch of Seattle's biggest export.
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