Starbucks is not only known for its innovative menu options, but also for the impact it has on local communities. According to a new study by Choi Jinkyong, Jorge Guzman, and Mario Small from Columbia University, opening a new Starbucks in a neighborhood without a coffee shop can lead to the creation of between 1.1 and 3.5 new companies per year over the next seven years.
This phenomenon is attributed to Starbucks serving as a “third place” where people can gather without a specific purpose. The researchers found that branches help entrepreneurs form and mobilize networks, contributing to the growth of new businesses in the area. In addition to this, Starbucks’ innovative menu items continue to be popular among customers, with many creating their own unique and Instagram-worthy drinks by hacking the chain’s menu. For example, customers can order a “cake batter Frappuccino” by asking for a vanilla bean crème Frappuccino with a pump of hazelnut syrup and a cake pop blended in. Another popular creation is the “liquid cocaine”, which consists of four shots of espresso with four pumps of white-chocolate syrup served over ice.
