The store had an old potbelly stove, which Hastings began using to make toasted sandwiches to serve to shoppers.

[9][10] Investors include Maveron (Founded by Starbucks Founder, Howard Schultz) and American Securities.

[12] In August 2013, Potbelly filed an initial public offering with US regulators to raise up to $75 million.

The company signed a multi-franchise agreement with India's Kwals Group, with plans to open five franchises in the country by the end of 2018 and 20 locations over the next five years.

[22] In April 2022, Potbelly entered its first delivery-based franchise partnership with REEF, the largest operator of virtual restaurants, logistics and proximity hubs in North America.

[23] Decreased sales caused by the COVID-19 pandemic resulted in nearly 30% loss in annual revenue and 28 store closures.