Johnson, Who Launched Starbucks Magic?

Magic Johnson, a former NBA star and CEO of Magic Johnson Enterprises, was able to convince Starbucks CEO Howard Schultz to partner with him in building more Starbucks stores in underserved areas. Johnson’s creative pitch to open 125 successful Starbucks stores earned him millions of dollars. However, overcoming obstacles was necessary. Johnson showed Schultz how theaters were performing, which convinced him to go 50-50 with him to develop a chain of urban Starbucks locations in underserved locations.

Magic Johnson Enterprises is an investment company founded by Basketball Hall of Famer and entrepreneur Magic Johnson. The company was founded in 1987 and is based in Los Angeles. Johnson played for the Los Angeles Lakers from 1979 to 1991, 1996, and 1999 to 2000, winning five NBA championships and three MVP awards. He also played for the 1992 Dream Team and retired twice due to retirement.

Magic Johnson convinced Starbucks to bring its cafés to inner-city neighborhoods, creating jobs and economic opportunities for underserved communities. From 1998 to 2010, Johnson’s company-owned more than 100 Starbucks. The deal he struck with former Starbucks CEO Howard Schultz is the only franchisee in the history of Starbucks, owning 125 across the country.

Magic Johnson Enterprises was the only franchisee in the history of Starbucks, owning 125 across the country. His story of how he built 125 successful Starbucks stores recently went viral.