Latest news with #ToddGraves
Entrepreneur
06-05-2025
- Business
- Entrepreneur
The Cavinder Twins and Raising Cane's CEO on Success
Todd Graves, founder and CEO of Raising Cane's, and Hanna and Haley Cavinder, NIL trailblazers and entrepreneurs, discuss the passion and drive it takes to succeed in business on the new episode of "The Playbook." "I don't think entrepreneurs are created — entrepreneurs are born." So says Todd Graves, the billionaire founder and CEO of Raising Cane's, the chicken finger casual dining chain with over 900 restaurants nationwide. Graves joined twin sisters Hanna and Haley Cavinder, former University of Miami basketball players who became trailblazers in the NIL space, to talk about the drive it takes to succeed in business on a new episode of The Playbook. On each episode of The Playbook, produced by Sports Illustrated and Entrepreneur, athletes and entrepreneurs come together to share advice and lessons they've learned along their paths to greatness. Related: 'Hustle Like You're Broke': Michael Strahan Shares the Mindset That Drives His Success Although their businesses might vary greatly — Graves runs a restaurant empire while Hanna and Haley are influencers who created the TWOgether fitness app and co-founded Hustle Beauty for athletes — there is crossover in how they pursue their passions. It starts with showing up like an athlete. "It was very seamless when we got into the NIL space and then started our own business," Hanna says. "All of those traits from college athletics carried over. The discipline and routine and the commitment to give 100% because there are other people relying on you." Graves feels the same way. "You might be tired one day, but people show up to our restaurants and are willing to pay good money, so you've got to deliver." Graves, Hanna and Haley also believe in the power of connecting with customers through authenticity. "People love founder-driven businesses because a founder cares, and their business is an extension of them," Graves says. Haley adds that being positive and honest on social media has been the key to nurturing their community of millions. "That really helped us when we started the health and fitness side of things," she says. Putting out genuine content that spoke about mental health helped them build lasting relationships with their followers, and they say the feedback they've gotten keeps them fulfilled and eager to do more. Related: "You Have to Grow Up Fast": How This College Athlete Became a CEO Before Turning 18 Watch the entire conversation to get these amazing entrepreneurs' insights on how getting a "no" can be the best thing to fuel your drive, and learn the pivotal moments that showed them that they were on the right path. As Graves notes, "Champions are always thinking, Hey, what can we do next?"
Yahoo
22-04-2025
- Business
- Yahoo
Raising Cane's CEO Todd Graves turned a rejected chicken finger idea into a billion-dollar empire. Here's how
Sometimes, making billions is just a matter of doing one thing — and doing it really well. That's the playbook Todd Graves, founder and CEO of Raising Cane's, has followed. With a menu that barely breaks five items — chicken fingers, fries, coleslaw, Texas toast and a cult-favorite sauce — the chain still managed to pull in $5.1 billion in revenue in 2024, according to financial records reported by Forbes. With 900 locations across 42 states, Cane's has become more than a fast food joint — it's a brand movement. Graves credits the company's success to a focused menu, a loyal fanbase and a marketing strategy that leans hard on celebrity shoutouts and viral social media moments. I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how His business savviness even landed him in the Shark Tank — literally. Graves guest-starred on two episodes last fall. 'I'm a social media machine,' he said during a pitch. 'I've got a whole team behind me that helps me with these things and I live it every day. I'll get your product out there and I'll help you expand it for low acquisition costs.' Here's how Graves made one key value — simplicity — scalable, and what you can learn from the sauce-fueled success of Raising Cane's. Before Raising Cane's became a billion-dollar brand, Graves was just another scrappy dreamer with a chicken-finger vision and no one willing to fund it. Banks said no. Investors passed. A college professor gave his business plan the lowest grade in class. But Graves didn't let a few Fs and financial gatekeepers deep-fry his dream. To fund his vision, he rolled up his sleeves and got to work. He worked as a boilermaker in a Los Angeles oil refinery and spent 20-hour days fishing sockeye salmon in Alaska, socking away every paycheck. It wasn't glamorous, but it was enough. He scraped together savings and secured a Small Business Administration (SBA) loan to open the first Raising Cane's near Louisiana State University in 1996. Graves' path proves that discipline and determination can do what investors won't — turn a back-of-the-napkin idea into a billion-dollar brand. Nearly 70% of small business owners rely on personal savings to get started, according to the U.S. Chamber of Commerce. It's not always glamorous but building a financial cushion can be the first step to building something much bigger. Read more: The US stock market's 'fear gauge' has exploded — but this 1 'shockproof' asset is up 14% and helping American retirees stay calm. Here's how to own it ASAP Graves didn't reinvent the drive-thru — he just made chicken fingers. That no-frills approach turned Raising Cane's into one of the most profitable fast-food chains in the country. According to the 2024 QSR 50 report, the company brought in an average unit volume of $5.69 million per location by August — which Forbes says was more than double competitors like Zaxby's and Bojangles. By the end of 2024, that number jumped to $6.6 million, with EBITDA nearing $1 billion. For entrepreneurs and side hustlers, Graves' strategy is a valuable reminder: you don't need complexity to stand out — just consistency and quality. Sticking to one core offering can keep overhead low, branding strong and execution tight. Instead of trying to be everything to everyone, focus on being the best at one thing. Graves has turned a five-item menu into a national obsession — and he's not done. 'Our next aspiration is to be a top 10 restaurant brand in the U.S.,' Graves said at a conference in Cancun last year, according to Nation's Restaurant News. 'Think of the big boys — McDonald's, Wendy's, Starbucks, Subway — companies that have been open a lot longer than we have.' He also plans to reinvest $100 million into local communities and continue promoting team members from within. Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Sign in to access your portfolio
Bloomberg
09-04-2025
- Business
- Bloomberg
Raising Cane's Founder Has $11.5 Billion Fortune as Sales Surge
Chicken-fingers entrepreneur Todd Graves is now worth $11.5 billion after his restaurant chain boosted sales by more than a third last year. Raising Cane's booked revenue of $5.1 billion in 2024, an increase of about 34%, according to a person familiar with the Baton Rouge, Louisiana-based company's results. Adjusted earnings before interest, taxes, depreciation and amortization were $928 million, an 18% increase. The fast-casual chain added more than 137 locations, bringing the total to more than 900.
Forbes
09-04-2025
- Business
- Forbes
Record Sales Of Chicken Fingers Nearly Doubles Fortune Of Raising Cane's Founder
Todd Graves (left) with country musician Parker McCollum Raising Cane's might not sell much—chicken tenders, crinkle fries, Texas toast, coleslaw and one sauce—but it sells a whole lot of it. Last year, the fast-food chain dished out $5.1 billion worth of the stuff, its best year yet, according to 2024 financials obtained by Forbes. That's enough to make Todd Graves, the company's founder and CEO, a whole lot richer. Forbes estimates that Graves has nearly doubled his net worth, to $17.2 billion, on the back of Cane's banner results. In 2024, the chain opened 118 new restaurants, pushing its total stores to around 900 in 40-plus states. But what really makes Cane's the envy of the fast food world is just how many customers flock to each store. The chain—which ranked as the 22nd-biggest by revenue on last year's annual QSR 50 report—rings in $5.7 million in sales per location on average. That's more than double competitors like Zaxby's and Bojangles, and second among all major quick-service chains, behind only Chick-fil-A. EBITDA is approaching $1 billion, per the newly obtained financials. For all that, Graves can thank his limited menu, which helps keep costs down, and the chain's rabid fanbase. Graves named the business after his yellow lab, leans heavily on social media and celebrities to promote it—including letting his friend, rapper Post Malone, design his own location in 2023—and has taken to TV to build his brand and highlight his community engagement efforts, including through Restaurant Recovery, a discovery+ limited series he created to coach independent eateries through the Covid-19 pandemic. Last fall, he appeared as a guest shark on two episodes of the hit ABC show Shark Tank, pitching his marketing savvy to contestants looking for an investor. 'I'm a social media machine,' Graves said during one successful pitch. 'I've got a whole team behind me that helps me with these things and I live it every day. I'll get your product out there and I'll help you expand it for low acquisition costs.' Graves has come a long way to Forbes' billionaires list. A Louisiana native, his idea for a restaurant serving only chicken fingers was rejected by bankers, investors and even a college professor, who gave the concept the lowest grade in the class. So he went to work as a boilermaker in a Los Angeles oil refinery and spent 20 hour days fishing for Sockeye Salmon in Alaska to save up the cash to fund his restaurant. Using his savings and an SBA loan, he opened the first Raising Cane's near Louisiana State University's campus in 1996. Now a 900-location behemoth, Graves still insists on keeping the menu limited to just chicken fingers, a handful of sides, a single sauce and no dessert. That simple formula has added a lot of cash to Graves' wallet. He owns around 91% of the business, according to the financials obtained by Forbes, and has paid himself at least $250 million in dividends since 2020, based on a Forbes analysis of the company's debt filings. And there seems to be plenty more where that came from. 'Our next aspiration is to be a top 10 restaurant brand in the U.S. Think of the big boys—McDonald's, Wendy's, Starbucks, Subway—companies that have been open a lot longer than we have,' Graves recently said, according to Nation's Restaurants News. 'We are going to hit $10 billion in sales, average unit volumes of $8 million, and 1,600 restaurants in all major cities and new international locations around the world. We'll have 150,000 crew members including 16,000 internal promotes. And we'll give back $100 million to communities. Imagine what we'll be able to give back to our communities once we become a top 10 brand.'
Axios
08-02-2025
- Entertainment
- Axios
Super Bowl parade: Time, route and celebrities
A parade celebrating Super Bowl LIX rolls through the French Quarter on Saturday morning. The big picture: Todd Graves, founder of Raising Canes and Louisiana's richest man, will reign as king. He's expected to bring his celebrity friends, officials say, but they're not naming names yet. Marching bands, dance troops and cultural groups will participate too. They'll throw NFL-themed beads and plush footballs, according to a press release. Zoom in: The Super Bowl Host Committee is organizing the parade and Barry Kern of Mardi Gras World is doing the floats. The route: The parade rolls at 10am at the corner of Esplanade Avenue and Decatur Street. It goes down Decatur then Magazine Street and turns onto Poydras Street. It ends at St. Charles Avenue. How to watch: You can line up on the street, watch the livestream on or catch the broadcast on WDSU.
