Nick Stone - Founder & Chief Executive Officer of Bluestone Lane
In 2013, Nick founded Bluestone Lane, an Australian-inspired coffee shop and lifestyle brand, after finding a gap in the US coffee market. Bluestone Lane brings the Australian hospitality experience to the US, focusing on providing a premium cafe experience and an escape for locals.
Bluestone Lane has over 45 shops across the biggest markets in the US, including New York, Philadelphia, New Jersey, Washington DC, San Francisco, and Los Angeles.
Bluestone Lane: https://bluestonelane.com/
Verbatim from the transcripts — each quote links to the moment.
“You know, I had 3 other meetings cancelled.”
“It's an extremely litigious culture.”
“You can make $100 million and never have actually touched the pigskin.”
“I think, I think, you know, the fish rots at the head, as they say.”
“Ultimately, I think if you want to make it in the US, you've got to go all in.”
How do you build trust with new hires across multiple markets?
Look for dependability and consistency of effort over flashy talk or technical skill; ask good questions, observe, assume good intent, and be honest quickly if someone isn't the right cultural fit.
How do you create a strong company culture as a founder?
Lead by example ('the fish rots at the head'), be crystal clear on your expectations and value proposition from the outset, and know exactly what makes your brand special before scaling.
How should you validate a brick-and-mortar business idea before launching?
Make sure you can answer fundamental questions — can you make a profit, generate revenue, employ and retain people, and build customer loyalty — methodically working through objections rather than relying on rapid prototyping, since lease and capital lead times are long.
What should someone consider before starting a business in the US as a foreigner?
Go 'all in' — fully relocate, take on real personal and financial risk, and commit rather than trying to run things remotely from Australia; Americans can tell who is genuinely committed and will back those who are.
Which US cities should newcomers target if New York or LA feel too competitive?
Consider 'tier 2' cities like Austin, Nashville, Miami, San Diego or Seattle, which have lower costs, lower taxes, and growing opportunities, and can serve as a stepping stone before attempting bigger markets like New York.
Nick Stone describes meeting his wife at Derby Day, convincing her to move overseas with him, being unable to transfer to New York with ANZ due to the financial crisis, and instead pursuing an MBA/exchange program that became his pathway to the US in 2010.
Stone recounts opening Bluestone Lane's first store in Midtown Manhattan in July 2013 near his ANZ office, growing store by store while still working in banking, and finally going full-time in 2016 at 12 stores before reaching nearly 50 stores three years later.
Stone describes how avocado prices rose 500% in July and August of that year, severely hurting Bluestone Lane's gross profit, prompting the company to pursue forward purchasing agreements to lock in prices.
Drawn from the episode transcripts.
Stone moved to New York in 2010 to study an MBA after being unable to transfer there as an ANZ investment banker due to the GFC. Missing Melbourne-quality coffee, he opened the first Bluestone Lane store in Midtown Manhattan in July 2013, despite having no hospitality experience, and grew it to around 50 stores by late 2019.
From episode 517→Nick Stone says a prime corner site in Midtown could cost around $400 per square foot annually (about $4,000 per square metre), meaning a 1,000 sq ft space could cost roughly $400,000 a year, or about $37,000 a month, though US leases typically run only 6-12 months rather than Australia's longer lockups.
From episode 517→According to Stone, tipping on to-go coffee in the US is unusually low, around 5%, compared to roughly 20% on a beer at a bar, even though making espresso drinks requires more skill. He notes rising minimum wages haven't been matched by changes to the tipping system, widening pay gaps between front- and back-of-house staff.
From episode 517→Mentioned on 1 episode Nickwasn’t on.
Every episode featuring Nick Stone on The Daily Talk Show.
