concept of a "third place"—i.e., a location other than home and work where you can relax, meet and chat—that has helped Starbucks achieve its dominance and ubiquity.

Panera Bread began life as the bakery/café Saint Louis Bread Company. It was purchased by industry leader Au Bon Pain in 1993 and rebranded as Panera Bread in 1997. The brand was so successful that in 1999 Au Bon Pain sold its other business units and kept "Panera Bread" as the name of the entire enterprise.

As a bakery/café, Panera straddles the line between the coffee giants and "fast casual" restaurants (the term for higher-quality fast food than what you'll find under golden arches or from a well-known hamburger monarch). This covers a lot of ground, but its top ranking in J.D. Power and Associates' 2004 Restaurant Satisfaction Study proves that a diverse menu doesn't mean watered-down quality.

That variety gives Panera the versatility that other chains lack. You wouldn't hit Starbucks or Dunkin' Donuts for more than a quick snack, for example, and you wouldn't swing by a Chipotle or Quizno's for just a hot beverage (nor would you hang around the latter places writing a screenplay or surfing CNN). But at Panera Bread you can grab a morning coffee and bagel, lunch on soup in a sourdough bread bowl or a tossed-to-order salad, and dine on a fresh-pressed panini or a made-to-order sandwich on one of their nine signature artisan breads.

As a "third place," Panera restaurants are large, airy and inviting—neither as stark as a Starbucks or as downmarket as a Dunkin'. And what makes Panera "stickier" than the java juggernauts, at least to the computer savvy, is free wireless Internet service. With 700 of its 900 restaurants Internet-able since the summer of 2003, Panera is the largest provider of free WiFi in the US. While laptop users may appreciate the free access, it's not just an altruistic gesture; a Panera spokesperson noted that offering free online access "is filling in the chill-out time between breakfast and lunch, and lunch and dinner."

The franchise is growing at a Starbucks-like rate: Panera plans more than 150 store openings in 2006 in the US. The evolving stock price—despite some recently sluggish store-sales reports—keeps investors happy. And as more people visit the restaurant, they may conclude that Panera Bread's combination of food and access may be the greatest thing since, well, sliced bread.

Anthony Zumpano loves sipping lattes while composing his great American novel.