3. What types of environmental opportunities and threats do you see in Potbelly’s external environment? How might they affect Potbelly’s current strategy?

Want an inexpensive gourmet sandwich served in a fun and funky place by friendly young people? Lots of people do, including celebrities Will Ferrell, Sandra Bullock, and Keanu Reaves. In fact, Potbelly Sandwich Works was ranked as one of the top fastest-growing chains in the restaurant industry.
Chances are you have never eaten at a Potbelly, but you probably will in the near future. Under the leadership of Bryant Keil, chairman and CEO, Chicago-based Potbelly Sandwich Works is expanding rapidly (see Table 1 ). Keil bought the original Potbelly in 1996. Prior to that, it was a very successful neighborhood sandwich shop run by a couple who had originally started the business as an antique store in 1977.
They added homemade sandwiches and desserts to bolster the business and soon the food became more popular than the antiques. As time went on, booths were added along with ovens for toasting the sandwiches and the antiques became “décor” rather than merchandise for sale. A prominently placed antique potbelly stove provided inspiration for the sandwich shop’s name.