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

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Entrepreneurship,Debt Financing,Risk Management

Todd Graves, founder of Raising Cane's Chicken Fingers, took a high-risk approach to finance his dream, relying heavily on debt to fund the company's early growth. Despite nearly facing bankruptcy during Hurricane Katrina, Graves' strategy ultimately paid off, and he now emphasizes responsible financial management.

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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