Mark Saxby opened up the first Banjo's store in the new Yorktown Square development in 1984.

Stores in Hobart, Glenorchy and Kings Meadows soon followed.

Forty years on, the franchise has grown to have 28 locations in Tasmania and another 18 on the mainland.

"[It] was an immediate success," said Jessica Saxby, Banjo's chief executive and Mark's daughter.

"We realised that we had a winner and started looking for bigger premises for the bakery. That is what the Brisbane Street location provided.

"[Yorktown Square] traded for a little while after Brisbane Street was opened but eventually we decided to close it and focus on the bigger premises."

The original Banjo's store has had a string of owners since - most recently The Sewing Corner, AK Consultants and now Harrison Agents - but the bakery franchise has continued to expand.

Ms Saxby introduced drive-through stores in 2020, and in 2021 told media she had plans to reach 80 stores across the country.

While most new Banjo's stores have been on the mainland, she wouldn't rule out adding new locations in Tasmania, including drive-through outlets.

"We're always looking for opportunities to grow, so if the right one comes along in Tasmania, then we will grab it with both hands," she said.

Banjo's is marking the anniversary by giving away 40,000 small savoury items across the country.

Much has changed since Banjo's opened in Yorktown Square - but not everything.

"Some things are the same as what they were 40 years ago, like the recipes for our popular Danish pastries, muffins and scrolls," Ms Saxby said.