Raising Cane’s secret recipe for scaling, with CEO Todd Graves
Todd Graves built Raising Cane’s Chicken Fingers into a nearly 1,000 restaurant empire worth billions. It’s well known for both its deliciously simple menu and its refreshingly friendly staff. The founder and CEO talks with host Jeff Berman about how he perfected the recipe for success, why he thinks restaurants should be wary of private equity, and much more.
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Advice Line: Tapping AI as a Resource for Your Business
This week, Guy is joined by TRX exercise straps founder Randy Hetrick, chicken restaurant giant Raising Cane’s Todd Graves, and Chesapeake Bay Candle Company founder Mei Xu in a special episode of the Advice Line. We talk about how to navigate today’s crowded social media landscape... And ways founders can start thinking about AI.
First, Shireen from Pennsylvania wants to know how to do better getting customers to attend her cooking demos… Then, Valerie from Idaho wonders whether separate social media accounts amount to the best path for her brand... And finally, Avani from New Jersey needs help scaling her business.
Thank you to the founders of Moji Masala , Large as Life puzzles, and Modi Toys for coming on the show.
If you’d like to be featured on a future Advice Line episode, leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.
This episode was produced by Rommel Wood with music by Ramtin Arablouei. It was edited by Andrea Bruce. Our audio engineer was Cena Loffredo.
You can follow HIBT on X & Instagram and sign up for my free newsletter at guyraz.com or on Substack.
To hear our returning guests’ previous episodes:
TRX: Randy Hetrick | Advice Line with Randy Hetrick of TRX
Raising Cane's: Todd Graves | Advice Line with Todd Graves of Raising Cane's
Chesapeake Bay Candle: Mei Xu | Advice Line with Mei Xu of Chesapeake Bay Candle and Blueme
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Advice Line with Todd Graves of Raising Cane's
Raising Cane’s founder Todd Graves joins Guy on the Advice Line to answer questions from three early-stage founders who are each considering a big, next step to grow their businesses.
First, Evan in Texas wants to know if he should franchise drive-thrus for his coffee business. Then, David in St. Louis is trying to get around dents in his financial history to secure financing for his pasta company. And finally, Shane in Los Angeles is weighing the pros and cons of opening a brick-and-mortar restaurant for his focaccia sandwich retail and catering concept.
Thank you to the founders of Whiskey Morning Coffee, Midwest Pasta Company, and Vesti for being a part of our show.
If you’d like to be featured on a future Advice Line episode, leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.
And be sure to listen to the founding story of Raising Cane’s as told by Todd on the show in 2022.
This episode was produced by Alex Cheng with music by Ramtin Arablouei. It was edited by Andrea Bruce. Our audio engineer was Jimmy Keeley.
You can follow HIBT on X & Instagram and sign up for Guy's free newsletter at guyraz.com or on Substack.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
My conversation with Todd Graves
Todd Graves is one of my favorite living founders. He owns over 90% of Raising Canes — a business that is worth at least $20 billion. Todd's maxim is "Do one thing and do it better than anyone else." It is impossible not to be inspired by his terminator levels of determination. I hope you enjoy our conversation as much as I did.
Episode show notes: https://www.davidsenra.com/episode/to...
Made possible by
Ramp: https://ramp.com
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Function: https://functionhealth.com/senra
Chapters
(00:00) The Entrepreneurial Mindset: Sleep and Business Obsession
(02:13) The Birth of Raising Cane's: Overcoming Skepticism
(03:29) Inspiration from In-N-Out Burger
(07:17) The Importance of Quality and Focus
(14:49) The Journey to Success: Hard Work and Sacrifice
(19:21) The Early Days: Building Raising Cane's from Scratch
(21:23) Financing the Dream: Unconventional Paths
(32:28) The Relentless Pursuit of Success
(33:02) Commitment and Oaths: The Camping Trip
(34:02) Fanaticism and Relentless Focus
(34:53) Learning from Others and Continuous Improvement
(35:06) The Never-Satisfied Mindset
(36:04) The Importance of Founders in Business
(39:55) The Purpose Beyond Profit
(51:52) Financing the Dream: Credit Cards and SBA Loans
(55:47) Building the First Restaurant
(57:56) Expanding the Vision
(58:59) Positive Motivational Management
(01:00:51) Creating a Coaching Culture
(01:01:42) Intrinsic Motivation vs. Titles
(01:02:41) The Importance of Being Present
(01:06:35) Respect, Recognition, and Rewards
(01:09:12) The Power of Encouragement
(01:18:10) The Myth of Delegation
(01:22:57) Focus on What You Do Best
(01:30:07) Dining at Jiro in Tokyo
(01:30:59) The Franchise Model Debate
(01:32:50) Challenges of Franchising
(01:35:21) Building a Business Authentic to You
(01:37:07) Financing and Expansion Strategies
(01:49:13) Surviving Hurricane Katrina
(01:55:48) Lessons from Estée Lauder
(01:58:06) Final Thoughts and Reflections
Raising Cane's: Todd Graves (2022)
By his early 20s, Todd Graves knew exactly what he wanted to do—open a restaurant near Louisiana State University that would make four things better than anyone else: chicken fingers, crinkle-cut fries, Texas toast, and coleslaw. After he and his partner Craig Silvey got rejected from every bank in Baton Rouge, Todd set out to fund his dream by working two treacherous jobs; first at an oil refinery and then on an Alaskan fishing boat. With roughly $150,000, he remodeled an old bike shop and opened his first restaurant in 1996. As word spread, Todd began building more restaurants, fueling the expansion on a rickety system of loans, and dreaming of making Cane’s as ubiquitous as McDonald's. Over the years, he has retained ownership of the business and watched it grow to over 600 stores, with 3 billion dollars in sales projected this year.
This episode was produced by Liz Metzger, with music by Ramtin Arablouei.
Edited by Neva Grant, with research help from Claire Murashima.
You can follow HIBT on You can follow HIBT on X & Instagram, and email us at hibt@id.wondery.com. Sign up for Guy’s free newsletter at guyraz.com.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Raising Cane's: Todd Graves
By his early 20s, Todd Graves knew exactly what he wanted to do—open a restaurant near Louisiana State University that would make four things better than anyone else: chicken fingers, crinkle-cut fries, Texas toast, and coleslaw. After he and his partner Craig Silvey got rejected from every bank in Baton Rouge, Todd set out to fund his dream by working two treacherous jobs; first at an oil refinery and then on an Alaskan fishing boat. With roughly $150,000, he remodeled an old bike shop and opened his first restaurant in 1996. As word spread, Todd began building more restaurants, fueling the expansion on a rickety system of loans, and dreaming of making Cane’s as ubiquitous as McDonald's. Over the years, he has retained ownership of the business and watched it grow to over 600 stores, with 3 billion dollars in sales projected this year.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
