Keep pulling the thread on Todd Graves.
Raising Cane's estimates that every two-second reduction in service time corresponds to a one-point increase in sales.
Raising Cane's projects it will achieve $6 billion in sales this year.
Raising Cane's initially used a franchise model for expansion but bought back all franchisees after about 10 years to improve operational standards and efficiency.
Raising Cane's is valued at over 20 times EBITDA, a significantly higher multiple than the 4 to 7 times multiple typical for franchise-based restaurant businesses.
Raising Cane's currently has approximately $3 billion in debt.
Raising Cane's ranks second in the quick-service restaurant industry for average unit volumes, behind only Chick-fil-A.
Jollibee founder Tony Tan Caktiong successfully competed against McDonald's upon its entry into the Philippines, eventually becoming the largest restaurateur in the country and then all of Asia.
Raising Cane's has a dedicated "Cane's Love" department focused on employee respect, recognition, and rewards.
Raising Cane's achieves an average service time of 2 minutes and 35 seconds for both drive-through and counter service.
Todd Graves decided to buy back all Raising Cane's franchisees because their operational standards were at an "85 out of 100" level, while the company-owned stores operated at a "95 out of 100" level.
After Raising Cane's bought back its franchise locations, sales in those markets increased.
During Hurricane Katrina, 21 out of Raising Cane's 28 locations were shut down due to power outages, damage, or flooding.