The Oregon-based coffee chain is committed to opening at least 125 new locations throughout the course of 2022.
In addition to moving East, Dutch Bros will continue to expand in existing markets, including Southern California, a market it said will be a “significant” growth driver.
Dutch Bros, when went public in September, opened 98 shops (of which 82 were company-operated) in 2021, including the launch of the brand in Texas. It recently entered the Nashville market. The company ended the year with 538 locations in 12 states. It noted that new shops are opening at higher average unit volumes than the system average, including in new markets.
“In 2022, we celebrate Dutch Bros’ milestone 30th anniversary, and begin our expansion east with our entrance into Nashville,” said Joth Ricci, CEO and President of Dutch Bros Inc. “While our history shows we’re a well-established and respected brand, we are still in the early stages of our long-term story. Over the next 10 to 15 years, we foresee at least 4,000 shops across the US.”
Dutch Bros forecast 2022 revenue of at least $700M. The company plans to build a coffee roasting facility to accommodate growth in the Midwest and a change in the way Dutch Bros pays for new shops, which results in greater upfront costs.
