Dutch Bros Inc. (BROS): Modelo de Negócios Canvas [Jan-2025 Atualizado]

A Dutch Bros Inc. (BROS) revolucionou a indústria do café com sua marca eletrizante e modelo de negócios inovadores que vão muito além de apenas servir bebidas. Desde o seu começo humilde na zona rural de Oregon até se tornar um US $ 1 bilhão Companhia de capital aberto, a Dutch Bros criou uma abordagem única que transforma a experiência tradicional da cafeteria em um fenômeno de alta energia e orientado pela comunidade. Seu modelo de negócios Canvas revela um plano estratégico que combina atendimento apaixonado ao cliente, franquia estratégica e uma cultura que ressoa profundamente com consumidores jovens e dinâmicos que buscam mais do que apenas uma correção de cafeína.

Dutch Bros Inc. (BROS) - Modelo de Negócios: Principais Parcerias

Fornecedores de feijão de café e torrefadores

O holandês Bros foge grãos de café de vários fornecedores, com parcerias importantes, incluindo:

Fornecedor	Volume anual	Detalhes do contrato
Importadores de café sustentáveis ​​de colheita	1,2 milhão de libras anualmente	Contrato de sustentabilidade de longo prazo
Farmer Brothers Company	850.000 libras por ano	Parceria comercial direta

Parceiros de franquia e equipes de desenvolvimento

Detalhes da rede de franquias holandês Bros:

• Total de franquias a partir do quarto trimestre 2023: 687 Locais
• Taxa de expansão da franquia: 15-20% ano a ano
• Faixa de investimentos de franquia: US $ 450.000 - US $ 750.000 por unidade

Fabricantes de equipamentos para máquinas de café

Fabricante	Tipo de equipamento	Investimento anual
La Marzocco	Máquinas de café expresso	US $ 2,3 milhões
Nuova Simonelli	Equipamento de cerveja comercial	US $ 1,7 milhão

Distribuidores locais de comida e bebida

As parcerias de distribuição incluem:

• Alimentos dos EUA: parceiro de distribuição nacional primária
• Sysco Corporation: Rede de distribuição secundária
• Distribuidores regionais em 14 estados ocidentais

Empresas de desenvolvimento de tecnologia e aplicativos móveis

Detalhes da parceria de tecnologia:

Parceiro	Serviço	Investimento de tecnologia anual
Soldar	Plataforma de engajamento de aplicativos móveis	US $ 1,2 milhão
Olo	Infraestrutura de pedidos digitais	$850,000

Dutch Bros Inc. (Bros) - Modelo de Negócios: Atividades -chave

Produção de café e bebida

O holandês Bros opera 756 cafés de drive-thru a partir do terceiro trimestre de 2023. O volume anual de produção de bebidas atingiu aproximadamente 129 milhões de bebidas em 2022.

Métrica de produção	2022 dados
Total de bebidas produzidas	129 milhões
Número de variedades de bebidas	Mais de 50 bebidas únicas
Bebidas diárias médias por local	475 bebidas

Operações de serviço drive-thru e de acalmação

O Dutch Bros mantém 756 locais em 16 estados, com 98% dos locais com serviço drive-thru.

• Tempo médio de transação drive-thru: 90 segundos
• Duração média da interação do cliente: 2-3 minutos
• Horário de serviço de pico: 6:00 - 10:00

Gerenciamento de franquias e expansão

No terceiro trimestre de 2023, a Dutch Bros opera 756 locais totais, com 97% de propriedade da empresa e 3% franqueados.

Métrica de franquia	2023 dados
Locais totais	756
Locais de propriedade da empresa	733
Locais franqueados	23

Marketing de marca e design de experiência do cliente

As despesas de marketing em 2022 totalizaram US $ 52,3 milhões, representando 6,8% da receita total.

• Seguidores de mídia social: 1,2 milhão
• Participantes anuais do programa de fidelidade do cliente: 350.000
• Downloads de aplicativos móveis: 500.000

Treinamento de funcionários e desenvolvimento cultural

O Holandês Bros emprega aproximadamente 5.200 membros da equipe a partir de 2023.

Métrica de treinamento	2023 dados
Total de funcionários	5,200
Horário anual de treinamento por funcionário	40 horas
Novo funcionário de duração de integração	2 semanas

Dutch Bros Inc. (Bros) - Modelo de Negócios: Recursos -Principais

Formulações proprietárias de mistura de café e receitas

O holandês Bros mantém uma mistura de café proprietária proveniente de importadores de café sustentável da colheita. Volume anual de compras de café: 4,2 milhões de libras em 2022.

Métricas de fornecimento de café	2022 dados
Aquisição total de café	4,2 milhões de libras
Parceiro de fornecimento de café primário	Importadores de café sustentáveis ​​de colheita

Forte cultura de marca e lealdade do cliente

Métricas de fidelidade do cliente a partir de 2023:

• Associação do Programa de Fidelidade: 1,3 milhão de membros ativos
• Frequência média de visita ao cliente: 3,7 vezes por mês
• Taxa de retenção de clientes: 68%

Força de trabalho treinada e enérgica

Métricas da força de trabalho	2023 dados
Total de funcionários	5,700
Investimento anual de treinamento	US $ 2,3 milhões
Posse média dos funcionários	2,4 anos

Locais imobiliários estratégicos

Distribuição de localização a partir do quarto trimestre 2023:

• Locais totais de drive-thru: 687
• Estados com presença: 16
• Investimento imobiliário anual: US $ 42,6 milhões

Infraestrutura do Programa de Pedidos e Lealdade Digital

Métricas de plataforma digital	2023 dados
Downloads de aplicativos móveis	780,000
Porcentagem de pedidos digitais	37%
Investimento anual da plataforma digital	US $ 6,5 milhões

Dutch Bros Inc. (Bros) - Modelo de Negócios: Proposições de Valor

Experiência de atendimento ao cliente de alta energia e de alta energia

O tempo de serviço holandês Bros é de 45-60 segundos por transação do cliente. A empresa emprega aproximadamente 4.500 funcionários em 756 locais a partir do quarto trimestre 2023.

Métrica de serviço	Desempenho
Tempo médio de transação	45-60 segundos
Total de funcionários	4,500
Locais totais	756

Ofertas de bebidas únicas e personalizáveis

O holandês Bros oferece mais de 50 combinações exclusivas de bebidas com perfis de sabor proprietários.

• Bebidas especiais de café
• Bebidas energéticas
• Smoothies
• Bebidas à base de chá
• Bebidas sazonais de edição limitada

Marca focada na comunidade com cultura positiva da empresa

Os Bros holandeses doaram US $ 3,2 milhões para instituições de caridade locais em 2022, representando 1,5% da receita anual.

Modelo Drive-thru rápido e conveniente

98% dos locais holandês Bros operam exclusivamente através do serviço Drive-Thru. Volume médio diário do cliente por local: 350-400 clientes.

Métrica drive-thru	Desempenho
Locais com drive-thru	98%
Clientes diários por local	350-400

Bebidas de café especiais de alta qualidade consistentemente de alta qualidade

O Holandês Bros foge dos grãos de café Arábica Premium, com um orçamento anual de compras de café de aproximadamente US $ 12,5 milhões.

• 100% de grãos de café com comércio direto
• Técnicas de torrefação proprietária
• Padrões de controle de qualidade consistentes

Dutch Bros Inc. (Bros) - Modelo de Negócios: Relacionamentos do Cliente

Programa de fidelidade de aplicativo móvel

O aplicativo móvel holandês Bros foi lançado em 2021 com 150.000 downloads iniciais. A partir do quarto trimestre 2023, o aplicativo possui 750.000 usuários ativos. Os membros do programa de fidelidade recebem:

• Bebida grátis no aniversário
• Pontos por compra
• Recompensas exclusivas

Métrica	Valor
Downloads de aplicativos	750,000
Usuários ativos mensais médios	425,000
Programa de fidelidade Penetração	62%

Engajamento da mídia social

Métricas holandesas de mídia social Bros em janeiro de 2024:

Plataforma	Seguidores	Taxa de engajamento
Instagram	1,2 milhão	4.3%
Tiktok	850,000	6.7%
Facebook	500,000	2.9%

Interações personalizadas do cliente

Programa de treinamento holandês Bros enfatiza:

• Nome do cliente Memorização
• Recomendações de bebidas personalizadas
• Scripts de interação individuais

Patrocínio de eventos da comunidade

Tipo de evento	Patrocínios anuais	Investimento
Eventos de caridade locais	127	US $ 2,3 milhões
Esportes para jovens	86	US $ 1,5 milhão
Angariação de fundos da comunidade	214	US $ 3,7 milhões

Personalidade de marca consistente

Métricas de experiência do cliente:

• Tempo médio de interação do cliente: 2,5 minutos
• Taxa de satisfação do cliente: 88%
• Taxa repetida do cliente: 72%

Dutch Bros Inc. (Bros) - Modelo de Negócios: Canais

Locais drive-thru

A partir do quarto trimestre 2023, a Dutch Bros opera 824 localizações drive-thru em 16 estados dos EUA. A empresa planeja expandir para 1.200 locais até 2025.

Ano	Locais drive-thru	Estados cobertos
2022	688	14
2023	824	16

Pedidos de aplicativos móveis

O aplicativo móvel hutch Bros possui 1,2 milhão de usuários ativos em dezembro de 2023. Os pedidos móveis representam 22% do total de transações.

• Contagem de download de aplicativos: 3,4 milhões
• Valor médio do pedido móvel: US $ 8,75
• Taxa de engajamento do programa de fidelidade móvel: 67%

Janelas de serviço de caminhada

Aproximadamente 15% dos locais holandeses da BROs apresentam janelas de serviço de caminhada, principalmente em áreas urbanas e de alto nível.

Plataformas de entrega de terceiros

O holandês Bros faz parceria com Doordash e Uber Eats. A entrega representa 8% do total de vendas, gerando US $ 42,3 milhões em receita em 2023.

Plataforma de entrega	Contribuição de vendas	Valor médio do pedido
Doordash	5.2%	$9.40
Uber come	2.8%	$8.90

Marketing de mídia social

O Holandês Bros mantém 2,1 milhões de seguidores no Instagram e 850.000 seguidores de Tiktok em janeiro de 2024.

• Taxa de engajamento do Instagram: 4,3%
• Visualizações de vídeo Tiktok por mês: 12,6 milhões
• Orçamento de marketing de mídia social: US $ 3,2 milhões anualmente

Dutch Bros Inc. (Bros) - Modelo de Negócios: Segmentos de Clientes

Jovens adultos e millennials

A partir do quarto trimestre de 2023, a Dutch Bros tem como alvo de 18 a 40 anos de idade, representando 45,6% de sua base de clientes. Gastes médios por cliente neste segmento: US $ 7,25 por visita.

Faixa etária	Porcentagem de base de clientes	Frequência média de visita
18-24 anos	22.3%	3,7 visitas por semana
25-40 anos	23.3%	2,9 visitas por semana

Entusiastas do café

Segmento de mercado de café especializado, avaliado em US $ 35,84 bilhões em 2023. O Holandês Bros captura aproximadamente 2,7% desse segmento de mercado.

• Preferência de café artesanal: 67% dos clientes -alvo
• Disposição de pagar o prêmio pela qualidade: US $ 1,50 a US $ 2,25 acima dos preços padrão do café

Consumidores de alimentos de serviço rápido

Tamanho do mercado de restaurantes de serviço rápido: US $ 295,4 bilhões em 2023. Vendas holandesas de bebidas holandesas: US $ 687,2 milhões em 2023.

Característica do segmento	Percentagem
Uso drive-thru	82.4%
Preferência de pedido móvel	37.6%

Viajantes e passageiros de estrada

Estratégia de localização direcionada a áreas de alto tráfego. 78,3% dos locais situados perto das principais rotas de passageiros.

• Tráfego médio diário de vôo perto de locais holandeses Bros: 12.500 veículos
• Vendas da hora do rush da manhã: 42,6% da receita diária

Indivíduos orientados para a comunidade

As métricas de engajamento da comunidade mostram 63,5% de lealdade do cliente por meio de patrocínios locais e eventos de caridade.

Métrica de engajamento da comunidade	Valor
Patrocínios de eventos locais	247 eventos em 2023
Doações de caridade	US $ 3,2 milhões em 2023

Dutch Bros Inc. (Bros) - Modelo de Negócios: Estrutura de Custo

Aquisição de feijão e ingrediente

Custos anuais de aquisição de feijão de café: US $ 45,3 milhões em 2022

Categoria de ingredientes	Gasto anual
Grãos de café	US $ 45,3 milhões
Produtos lácteos	US $ 12,7 milhões
Xaropes e aromas	US $ 8,5 milhões

Salários e treinamento de funcionários

Custos de mão -de -obra total em 2022: US $ 197,6 milhões

• Salário médio por hora: US $ 15,25
• Investimento anual de treinamento: US $ 3,2 milhões
• Alocação de benefícios dos funcionários: US $ 22,4 milhões

Manutenção imobiliária e de instalações

Despesas anuais de imóveis e manutenção: US $ 36,8 milhões

Categoria de despesa	Custo anual
Arrendamento e aluguel	US $ 24,5 milhões
Manutenção da instalação	US $ 12,3 milhões

Marketing e desenvolvimento de marca

Despesas de marketing em 2022: US $ 28,6 milhões

• Gastes de marketing digital: US $ 12,4 milhões
• Publicidade tradicional: US $ 9,2 milhões
• Eventos de ativação da marca: US $ 7 milhões

Tecnologia e infraestrutura digital

Investimento de tecnologia em 2022: US $ 15,7 milhões

Categoria de tecnologia	Investimento anual
Desenvolvimento de aplicativos móveis	US $ 5,3 milhões
Sistemas de ponto de venda	US $ 4,2 milhões
Segurança cibernética	US $ 3,8 milhões
Infraestrutura em nuvem	US $ 2,4 milhões

Dutch Bros Inc. (BROS) - Modelo de Negócios: Receita Fluxos

Vendas de café e bebida

A partir do quarto trimestre de 2023, a Dutch Bros registrou receita total de US $ 712,3 milhões. As vendas de café e bebidas representaram aproximadamente 85% da receita total, equivalente a aproximadamente US $ 605,6 milhões anualmente.

Categoria de produto	Porcentagem de vendas	Receita anual estimada
Bebidas quentes	42%	US $ 299,4 milhões
Bebidas frias	43%	US $ 306,2 milhões

Mercadoria e vendas de produtos de marca

As vendas de mercadorias geraram aproximadamente US $ 35,6 milhões em 2023, representando 5% da receita total.

• Bebida de marca
• Itens de roupa
• Acessórios

Taxas de licenciamento de franquia

Em dezembro de 2023, os holandeses tinham 689 locais totais, com 693 acordos de franquia assinados. As taxas de licenciamento de franquia geraram aproximadamente US $ 15,7 milhões em 2023.

Tipo de taxa de franquia	Quantia	Porcentagem de receita
Taxa inicial de franquia	US $ 40.000 por local	1.2%
Taxas de royalties em andamento	5% das vendas brutas	0.8%

Monetização do Programa de Fidelidade

O Programa de Fidelidade Dutch Bros, Holandês, gerou cerca de US $ 22,4 milhões em receita adicional através do aumento do envolvimento do cliente e repetiu compras em 2023.

Serviços de catering e eventos especiais

Os serviços de catering e eventos especiais contribuíram com aproximadamente US $ 33,5 milhões para a receita total em 2023, representando 4,7% da receita geral dos negócios.

Tipo de evento	Receita média por evento	Eventos anuais estimados
Eventos corporativos	$1,200	8,500
Festas particulares	$450	12,000

Dutch Bros Inc. (BROS) - Canvas Business Model: Value Propositions

You're focused on what makes this concept stick in the market, and honestly, the value proposition is where the rubber meets the road for Dutch Bros Inc. It's not just about coffee; it's about the entire transaction experience.

Unparalleled speed and convenience via drive-thru model

The core value is built around the drive-thru only model, which is designed for efficiency. In the 2025 Drive-Thru Study, Dutch Bros led the Beverage category with an order accuracy rating of 96%. Overall customer satisfaction in that same study hit 98%, tying for the top spot across all measured segments. This focus on streamlined service seems to be working, as systemwide same-shop transactions increased by 4.7% in the third quarter of 2025 compared to the prior year period. For company-operated shops specifically, same-shop transactions grew by 5.9% in the second quarter of 2025. The company is actively working on throughput, rolling out speed dashboards to field operations teams to help them monitor and improve service times. Furthermore, data from January 2025 showed a small but meaningful uptick in morning visits, with the 6:00 a.m. to 11:00 a.m. daypart growing to account for 29.5% of daily visits, up from 28.4% the year prior.

Here's a quick look at how the operational scale supports this value delivery as of mid-to-late 2025:

Metric	Value (As of Late 2025 Data)	Context
Total System Shop Count (Q1 2025 End)	1,012 locations	Represents a 15.5% increase from the prior year period.
Systemwide AUV (Q1 2025)	$2.026 million	Up from $1.995 million, showing new shops are performing well.
Company-Operated Shop Contribution Margin (Q2 2025)	31.1%	Indicates strong unit-level economics supporting the model.
Targeted System Shop Openings (FY 2025)	At least 160 new shops	Maintains an aggressive expansion pace.

Highly personalized, friendly Broista-led customer experience

The interaction is a key differentiator, moving away from the traditional café model. The company's culture emphasizes cheerful interactions led by its staff, referred to as Broistas. This focus on connection is reflected in the 98% satisfaction rating achieved in the 2025 Drive-Thru Study. You see this commitment to repeat engagement through the loyalty program, where Dutch Rewards transactions climbed to 71.8% of total transactions in the first quarter of 2025, an increase from 66.5% in the first quarter of 2024. This suggests customers are returning frequently to engage with the brand experience.

Extensive menu of customizable, non-coffee beverages

The menu leans heavily into variety and customization, which appeals directly to younger consumers. About 80% of Dutch Bros Inc. sales come from cold and energy drinks, rather than traditional hot coffee. The core offerings include proprietary Blue Rebel energy drinks, teas, smoothies, shakes, lemonades, cocoa, and sparkling sodas, alongside espresso-based drinks. The level of personalization is significant; the mobile app features a "secret menu" with over one hundred listed variations on core drink types, allowing for over 9,000+ potential drink variations through options like alternative milks or adjusting espresso shots.

Affordable premium beverages for a younger demographic

The pricing strategy targets value-conscious consumers, especially Gen Z and Millennials, who form the core demographic. You can purchase beverages for anywhere between $1.50 and $4.00. To put that in perspective, a medium 24-ounce drink costs less than a Starbucks tall but is the same size as a Starbucks venti, making it both larger and more affordable for the premium experience. This value proposition helps support strong unit economics; shop-level margins are near 30%, and the company-operated shop contribution margin was 31.1% in the second quarter of 2025. The brand was noted as the highest-scoring QSR consumer brand among the Gen Z demographic, and the only coffee brand to rank in the top 10 overall.

Dutch Bros Inc. (BROS) - Canvas Business Model: Customer Relationships

You're looking at how Dutch Bros Inc. keeps customers coming back, which is key since they are in a heavy growth phase, aiming for 2,029 shops by 2029. The relationship starts right at the service window, where the broistas aim for that high-touch, personal interaction. This human element is what sets the tone before any digital engagement even happens.

The company's transaction growth in the third quarter of 2025 shows this strategy is working, even while they open new locations. System transaction growth hit 4.7% in Q3 2025, and company-operated transaction growth was even stronger at 6.8% for the same period. This traffic growth is what fuels the whole model.

The real engine for retention, though, is the automated loyalty loop you see here. It's a powerful on-ramp for digital use, and the numbers prove it's sticky. Here's a quick look at the latest digital adoption metrics as of Q3 2025:

Metric	Latest Period Data (Q3 2025)	Prior Period Data (Q2 2025)
Dutch Rewards Penetration (System Transactions)	72%	71.6%
Order Ahead Program (System Transactions)	13%	Data not explicitly in Q3 table, but Q2 was not provided in the same format.

Automated loyalty via Dutch Rewards is massive; it accounted for 72% of all system transactions in Q3 2025. Honestly, that's a huge chunk of the business, representing a five-point improvement year-over-year for that quarter. Back in Q2 2025, the penetration was 71.6% of total transactions, up from 66.7% in Q2 2024, showing consistent upward momentum in loyalty adoption.

The mobile app is the delivery mechanism for segmented offers, which deepens that automated relationship. The Order Ahead program, which feeds into this ecosystem, reached 13% of system transactions by the end of Q3 2025. Management is focused on leveraging segmentation to drive frequency and personalization through this channel.

You also see community-driven engagement, which is part of the brand's DNA, often showing up in local fundraising efforts. While I don't have a specific dollar amount for total fundraising in 2025, the brand culture supports this local connection.

• - Dutch Rewards penetration: 72% of system transactions (Q3 2025).
• - Order Ahead transactions: 13% of system transactions (Q3 2025).
• - System transaction growth: 4.7% (Q3 2025).
• - Company-operated transaction growth: 6.8% (Q3 2025).

Finance: draft the Q4 2025 customer retention impact report by January 15th.

Dutch Bros Inc. (BROS) - Canvas Business Model: Channels

The physical presence of Dutch Bros Inc. is anchored by its drive-thru shop format, which serves as the primary, high-volume channel for beverage sales.

As of the third quarter of 2025, the total system shop count reached 1,081 locations across 17 states, reflecting a 14% year-over-year increase in the footprint. The company maintains a strategic focus on company-operated locations, which form the majority of the system.

Here's the quick math on the physical channel breakdown for Q3 2025:

Channel Component	Metric	Value (Q3 2025)
Total System Shops	Total Count	1,081
Company-Operated Shops	Shop Count	759
Franchised Shops	Shop Count	322
Order Ahead (Mobile App)	Transaction Mix	13%
Dutch Rewards Program	Transaction Mix	72%

The company-operated shops are the core of the current operation, with 759 locations in Q3 2025, while franchised drive-thru shops represent the minority of the system at 322 locations.

Digital channels are increasingly important for driving frequency and capturing future volume. The Dutch Rewards mobile app is a key component here, serving as the primary on-ramp for digital ordering.

• - Dutch Rewards penetration accounted for 72% of system transactions in Q3 2025, a five-point year-over-year improvement.
• - The Order Ahead feature, integrated within the app, reached a 13% mix of total system transactions in Q3 2025.
• - Some newer markets using the Order Ahead feature were nearing a 26% mix by the end of the third quarter.

Looking ahead, Dutch Bros Inc. is establishing a new retail distribution channel for Consumer Packaged Goods (CPG) products. This move is structured as a licensing agreement with Trilliant Food & Nutrition, LLC.

The CPG distribution plan targets:

• - Launch of first retail packaged coffees in 2026.
• - Distribution through over 50,000 retail outlets across the U.S.

This CPG channel is designed to build brand awareness in geographic areas where the physical drive-thru footprint is currently under-represented.

Dutch Bros Inc. (BROS) - Canvas Business Model: Customer Segments

You're looking at the core groups Dutch Bros Inc. is serving right now, late in 2025. It's a mix of young energy, on-the-go efficiency, and deep digital loyalty.

Younger consumers (Gen Z/Millennials) seeking value and experience

This group, typically aged 16-35, is central to the Dutch Bros Inc. story. They are drawn to the brand's culture and the ability to heavily customize their drinks. To be fair, the pricing strategy is set to capture this value-conscious demographic, offering what feels like a luxury beverage for a reasonable price. The product mix heavily favors this segment's preference, with about 80% of sales coming from cold and energy drinks, not traditional hot coffee. Data from Dutch Rewards members shows that around 56% of those users are under the age of 25.

• Primary age range: 16-35.
• 56% of Dutch Rewards customers under age 25.
• Brand ranked #1 with Gen Z consumers.
• 80% of sales from cold/energy drinks.

Commuters prioritizing speed and convenience

The entire operational setup targets customers who need speed. Nearly all Dutch Bros Inc. shops operate as drive-thru only locations, which is the key to serving the commuter lifestyle. This model is designed for quick service and connection, helping them fit into busy schedules. The emphasis on throughput is clear in their recent performance metrics, which show strong transaction growth.

Loyal, high-frequency Dutch Rewards members

The digital ecosystem is locking in repeat business. The Dutch Rewards program is a massive driver of current sales volume. In the second quarter of 2025, transactions tied to Dutch Rewards hit 71.6% of total system transactions. That's a significant jump from the prior year period. For the first quarter of 2025, the figure was 72% of system transactions. The company is actively growing this base, adding 1 million new Dutch Rewards sign-ups in the third quarter of 2025 alone.

Here's a quick look at how digital engagement is translating to transactions as of late 2025:

Metric	Percentage / Amount	Period / Date
Dutch Rewards Transaction Penetration	71.6%	Q2 2025
Dutch Rewards Transaction Penetration	72%	Q1 2025
New Dutch Rewards Sign-ups	1 million	Q3 2025
Transactions from Loyalty Members	Roughly 67%	Q3 2025
Order Ahead Transaction Penetration	13%	Q3 2025

Customers in new, underserved Western and Southern US markets

Dutch Bros Inc. is still heavily concentrated in the West, but the growth story is about moving East and South. As of October 15, 2025, the system has 1,088 locations across 24 states. The company planned to open at least 160 new shops in 2025, and added 38 shops in the third quarter of 2025, bringing the total to 1,081 system-wide. The long-term view is aggressive, targeting over 4,000 US stores within the next 10 to 15 years. The current footprint shows a clear focus on the West and Sun Belt areas.

The top three markets by location count as of late 2025 illustrate this geographic concentration:

• Texas: 225 locations (21% of total).
• California: 215 locations (20% of total).
• Oregon: 157 locations (14% of total).

The company is approving more than 30 new sites per month, setting up for a projected 175 new system shops in 2026. Finance: draft 13-week cash view by Friday.

Dutch Bros Inc. (BROS) - Canvas Business Model: Cost Structure

You're looking at the core expenses driving the aggressive growth strategy at Dutch Bros Inc. as of late 2025. The cost structure is heavily weighted toward capital deployment for new locations and the direct operating costs of running those company-operated shops.

Capital Expenditures (CapEx) remain a massive cost driver, reflecting the commitment to rapid physical expansion. For the full fiscal year 2025, Dutch Bros Inc. continues to project capital expenditures within the $\text{\$240 million}$ to $\text{\$260 million}$ range, primarily funding the construction of new drive-thru locations. This high CapEx supports the plan to open at least $\text{160}$ new shops systemwide in 2025. To be fair, the average CapEx per shop has been trending down, moving from approximately $\text{\$1.67 million}$ in Q1 2025 to about $\text{\$1.4 million}$ per shop in Q3 2025, showing some efficiency gains in build-out.

Direct operating costs are significant, especially as the company scales. Raw material costs, specifically for beverage, food, and packaging, were reported at $\text{25.3\%}$ of company-operated shop revenue in Q2 2025, though this ticked up slightly to $\text{25.9\%}$ in Q3 2025, partly due to higher coffee costs. Labor costs are the other major component of the per-shop expense base. For Q2 2025, labor costs stood at $\text{26.6\%}$ of company-operated shop revenue, which was favorable year-over-year, but this figure rose to $\text{27.5\%}$ in Q3 2025, reflecting investments to support the growth cadence.

The aggressive expansion cadence naturally inflates Pre-opening expenses. These costs are incurred before a new shop starts generating revenue, and they spike when the opening schedule accelerates. In Q3 2025, pre-opening expenses represented $\text{1.8\%}$ of company-operated shop revenue, which was $\text{60}$ basis points higher year-over-year because more shops were opening in new markets requiring additional training resources. Honestly, you can see the immediate impact of this expansion push on near-term margins.

Here's a quick look at how those key variable costs have shifted across the first three quarters of 2025:

Cost Category	Q1 2025 (% of Co-Op Revenue)	Q2 2025 (% of Co-Op Revenue)	Q3 2025 (% of Co-Op Revenue)
Beverage, Food & Packaging	$\text{25.0\%}$	$\text{25.3\%}$	$\text{25.9\%}$
Labor Costs	$\text{27.4\%}$	$\text{26.6\%}$	$\text{27.5\%}$
Pre-opening Expenses	$\text{1.7\%}$	$\text{1.2\%}$ (Implied)	$\text{1.8\%}$

You should also note the other fixed and semi-fixed costs associated with running the shop footprint:

• Occupancy and other costs were $\text{16.5\%}$ of company-operated shop revenue in Q2 2025.
• Depreciation and amortization was $\text{7.5\%}$ of company-operated shop revenue in Q1 2025.
• Adjusted Selling, General and Administrative (SG&A) expenses were $\text{14.1\%}$ of total revenue in Q2 2025.
• The company expects to achieve approximately $\text{110}$ basis points of Adjusted SG&A leverage for the full year 2025.

The cost structure is defintely a balancing act between heavy upfront investment and managing the variable costs of goods and labor as transaction growth continues.

Dutch Bros Inc. (BROS) - Canvas Business Model: Revenue Streams

You're looking at the core ways Dutch Bros Inc. brings in cash as of late 2025. The structure is heavily weighted toward direct sales, which is typical for a rapidly scaling, company-controlled brand.

• - Sales from company-operated shops (bulk of revenue)
• - Total projected revenue for FY2025 is $1.59 billion to $1.60 billion
• - Franchise royalties and fees from franchised locations
• - Future revenue from CPG packaged coffee product sales

The company-operated segment is definitely the engine room for Dutch Bros Inc. revenue. For example, in the second quarter of 2025, revenue from these company-operated shops hit $380.5 million out of a total system revenue of $416 million for that period. By the third quarter of 2025, company-operated shop revenue grew further to $392.8 million.

Here's a quick look at the revenue components based on the latest reported quarterly figures:

Revenue Component	Q2 2025 Value	Q3 2025 Value	Supporting Metric
Company-Operated Shop Revenue	$380.5 million	$392.8 million	Company-Operated Shops: 725 (as of Q2 2025)
Total System Revenue	$416 million	$423.6 million	Total System Shops: 1,043 (as of Q2 2025)
Implied Franchise Revenue	N/A	Approximately $30.8 million	Total Revenue less Company-Operated Revenue for Q3 2025

The franchise stream, while smaller, is a steady source of income through royalties and fees. For the third quarter of 2025, if you take the total revenue of $423.6 million and subtract the company-operated revenue of $392.8 million, you get an implied franchise contribution of about $30.8 million for that quarter. Franchise growth is more measured; for instance, franchised shops increased modestly from 300 to 318 locations between Q2 2024 and Q2 2025.

Looking ahead, Dutch Bros Inc. is setting up a new revenue channel. They announced plans to enter the consumer packaged goods (CPG) space via a licensing deal with Trilliant Food & Nutrition. You shouldn't expect this to hit the 2025 numbers, though; the plan is for an early rollout of retail packaged coffee in Q1 2026, with a broader rollout throughout that year. Currently, food offerings contribute around 2% of revenue, but management sees this moving up considerably.

The latest full-year projection for 2025 revenue is set between $1.59 billion and $1.60 billion, reflecting growth of approximately 21% to 23% over fiscal 2024's reported revenue of $1.28 billion.