After having surpassed the number of 500 coffee shops opened in Romania in 2023 and having recorded a major increase in sales and turnover, 5 to go is targeting a total of 650 coffee shops and a turnover of more than US$50 million for 2024, an increase of 25 per cent compared to 2023.
“The results achieved in the last quarter of 2023, when we recorded an increase in turnover of more than 50 per cent compared to the previous year, have exceeded our estimates and have boosted our planning for the next period and the setting of new targets in line with the pace of development we aim to maintain,” says Radu Savopol, Co-founder of 5 to go.
“The year has just started and we already have 25 new location openings and eight renovations planned for January-February alone. Things are steadily progressing locally, with a new 5 to go location opening in Romania practically every two working days. At the same time, we want and believe that we have real chances to move up this year to seventh place in the European ranking of coffee shop chains, up from ninth place where we are now.”
Growth plans will be maintained in 2024, keeping the upward trend of business development. According to current planning, 5 to go will exceed 600 coffee shops, of which 50 per cent will be in Bucharest, followed by 30 cafés in Brasov and 15 in Cluj. If in 2023 the 5 to go map covered 110 cities with at least one coffee shop open, in 2024 the expansion will target at least 40 new cities. Internationally, the plan is to launch on the Slovakian market, reach the 10-café milestone in Hungary and implement a pilot project on the Bulgarian market. As for the retail division, new 5 to go branded products are being considered for launch this year.
Part of the strategy to keep up with market trends and customer needs in the digital age, the 5 to go app is 90 per cent ready for launch and will be available in 2024 to facilitate access to the brand’s universe and positive consumer experiences.