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Birmingham Post
Birmingham Post
Business
Sion Barry

Swansea coffee franchise business plans to create 4,000 jobs

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

The Magic Bean Co, which was established in 2014, plans to increase its currently 24 Starbucks franchise operated sites to 200 over the next five years.

The major expansion could see the creation of over 4,000 new jobs as multiple new Starbucks drive-thru stores open throughout the UK.

The business, which reported a £17m turnover in 2021, intends to launch nine new Starbucks sites this year, with locations to be announced.

The business, which also owns franchised sites for Denny’s, currently employs 370 staff and works closely with Starbucks to identify opportunities for growth in new locations.

Leon Esfahani, chief executive of The Magic Bean Co, said: “As more and 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 director at HSBC UK, has been instrumental in helping us secure the funding required to deliver on immediate and longer-term growth plans – meaning we can continue to provide an exceptional service in our communities and, most importantly, give back.”

Warren Lewis, head of corporate Banking Wales for HSBC UK, added: “We’re delighted to support the company’s ambitious plans to deliver exceptional growth and create new local jobs over the next five years. The demand for drive-thru and grab-and-go services continues to grow across the country and the well-managed Magic Bean team are poised to take advantage.”

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

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