Potbelly Sandwich Shop
|Traded as||NASDAQ: PBPB|
Russell 2000 Component
|Headquarters||River Center 111. N.Canal Street, Chicago, Illinois, U.S.|
Number of locations
|Alan Johnson, |
Chairman & CEO
|Products||Sandwiches, salads, soups, ice cream|
|Revenue||$372.8 million (2015) |
|$9.429 million (2015) |
|$5.628 million (2015) |
Number of employees
Potbelly Corporation is a publicly traded restaurant chain that sells submarine sandwiches and other food in the United States, United Kingdom, United Arab Emirates, Canada and India. The company headquarters are in Chicago, Illinois.
Founding and growth
Potbelly Sandwich Shop is a sandwich and food store that was founded in 1977 by Peter Hastings. The original store is located at 2264 North Lincoln Avenue in Chicago, in a retail space that was previously an antique store called Hindsight, also owned by Hastings. Many of the items that decorated the restaurant were taken from the former antique store including the namesake Potbelly stove. In 1996, Bryant Keil purchased the original store. Keil quickly expanded the company, The second store was opened in 1997, and he expanded Potbelly to over 300 stores in several states and the District of Columbia., Investors include Maveron (Founded by Starbucks Founder, Howard Schultz) and American Securities.
On November 5, 2007, a new Potbelly store in Glen Ellyn, Illinois, became the first to feature a drive-through. A second drive-through store was added shortly thereafter in Waukegan, Illinois.
In 2011, Potbelly opened two franchise stores in Dubai in the United Arab Emirates; these are the first international Potbelly locations. Additionally, Potbelly has the most corporate owned sandwich stores in the US.
Potbelly opened its first European store at Westfield Stratford City, London, in July 2015  and its first Canadian store in Toronto in October 2016. By August 2017, 60% of Potbelly's business came from lunch. It had 424 owned stores and 54 franchised stores. Early that month, Potbelly announced it was considering putting itself for sale.
In December 2017, Potbelly opened its first franchise in India with a new location in Cyber City, Gurgaon. The company signed a multi-franchise agreement with India's Kwals Group, with plans to open five franchises in the country by the end of 2018 and 20 locations over the next five years.
In 2017 Potbelly shutdown it's locations in UAE, Kuwait and the UK.
Potbelly's menu features a variety of sandwiches that are all served hot. Potbelly began offering salads in February 2007, and the menu also includes soup, shakes, malts, smoothies, and cookies.
Many restaurants include live music from local musicians during the lunch hours.
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