How much do you like fried chicken? Enough to make a restaurant chain out of it? That’s what the founder of Raising Cane’s Chicken Fingers did! While Raising Canes may not be one of the tops of everyone’s best chicken restaurants, it has certainly made its mark in the
fast food business.
Raising Cane’s has had a fruitful and interesting history. Clearly whatever it is that they are doing is working because of its success. Therefore, if you are an aspiring CEO then perhaps looking to Raising Cane’s past can help you gain valuable insight into being a business leader. This article will be about Raising Cane’s history and what an aspiring CEO like you can learn from it. With that being said, let’s get started!
Founding of Raising Cane’s
The founders of Raising Cane’s Chicken Fingers are Todd Graves and Craig Silvey. Both had enrolled in a business plan writing course, but they both went to different universities. Graves wrote out the business plan for Raising Cane’s while Silvey was the one who submitted it. Shockingly, it had gotten just a C-minus.
During this time, Graves worked at a chicken restaurant and was rejected multiple times by investors over his plan. Deciding that he’ll get the money himself, he became a boilermaker in Los Angeles, California at an oil refinery. Luckily, he and Silvey managed to procure an SBA loan and opened their first restaurant in
Baton Rouge near Lousiana State University.
Raising Cane’s Chicken Fingers would be named after Grave’s dog, a yellow Labrador. Other dogs of the same breed have been representatives of the company and are certified therapy animals.
Raising Cane’s Today
Raising Cane’s managed to expand across the planet starting in 2015. The first restaurant was opened in Kuwait. Since then, the chicken franchise is also located in Bahrain,
Saudi Arabia, and the United Arab Emirates.
Today, the fast-food franchise has over 600 stores in the United States and in other countries. As of 2020, it generated over $1 billion in revenue and has employed 50,000 people.
What Can Be Learned from Raising Cane’s
Todd Graves had a deck stacked against him, but that made him even more determined to see his dream come true. First in college, he and his long-time friend Craig Silvey came up with the business plan but got the lowest grade in the class because the professor stated it just wouldn’t work. As Graves worked at a chicken restaurant himself, he tried to get investors invested. When no one gave him the money for his dream, he decided that he would do it himself.
He went all the way to the West Coast to L.A. where he was a boilermaker at an oil refinery. There, he worked 90-hour weeks so that he could get the money he needed for his restaurant. Then he learned from his fellow co-workers that more money is made in commercial fishing. So, Graves decided to move to Alaska and camped in the tundra for an entire
month before he finally got a job as a fisherman. He would fish sockeye salmon in Bristol Bay in harsh conditions for 20-hour shifts.
Thanks to the hard work he endured, he and Silvey managed to procure an SBA loan. They used an old
building near Louisiana State University and with some friends and contractors, they renovate the building themselves. As renovations continued, Graves discovered a mural on the wall of a bread bakery. He felt that this was a sign and the design was the inspiration for the logo and why each of the restaurants has a mural.
Todd Graves
The founder of Raising Cane’s Chicken Fingers, Graves worked hard for his dream. Originally he was going to call it “Sockeye’s” after his time in Alaska. But, on the advice of a friend, he named it after his dog Raising Cane who was a regular guest at the construction site.
When the
restaurant opened, Graves was out in the streets getting people to come in. He was so successful that the restaurant was open until 3:30 a.m. The rest was history.
Conclusion
That is the history of Raising Cane’s. Todd Graves is someone to look up to and follow if you are an aspiring CEO. He started his journey at just 24 years old and now look at him! Graves is still heavily involved in all parts of his brand. This means that he is one of the few founder-led restaurants of its size.
What more can be said about Graves? He had a dream, dedication, drive, and hard work. He had a simple idea and turned it into a success. If you are someone who wants to be like him, you may have to raise the money yourself and do jobs that are hard. But, if you always stay true to your roots, then a Raising Cane’s Chicken Fingers of your own, will be in your future.
