Raising Cane's Founder Todd Graves Took A High-Risk Approach To Finance His Dream

Todd Graves' high-risk funding strategy for Raising Cane's Chicken Fingers was a bold gamble that almost cost him his dream.. He had to work 90-hour weeks in an oil refinery and fish for salmon in Alaska just to raise enough capital to open the restaurant's first location.When he was growing the chain, Graves said he took out loans with private investors at a 15% interest rate.

Cash flow leverage indicates how much debt a company has compared to its EBITDA, or how much money a business makes from its operations before accounting for additional costs like interest and taxes, says Bean. Taking out loans can be beneficial for growing a company. Former Vice chairman of Berkshire Hathaway and Warren Buffett's business partner Charlie Munger, who died last year, once said

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Billionaire founder of Raising Cane's Chicken Fingers: One ‘stupid' strategy nearly cost me my business“My dream almost just went away,” recalls Raising Cane’s Chicken Fingers founder Todd Graves, after he made this financial mistake while…
Fuente: NBCLA - 🏆 319. / 59 Leer más »

52-year-old worked 90-hour weeks in an oil refinery to save money for his business—now he's worth $9.5 billionTodd Graves, the co-founder and co-CEO of Raising Cane’s Chicken Fingers, is an unlikely billionaire. Here’s how he built his business.
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