Meet man who worked at oil refinery to save money for his firm, now owns business worth Rs 80000 crore

Todd Graves who is the founder of Raising Cane’s, had an unusual idea while studying at Louisiana State University in the 1990s—he wanted to open a fast food restaurant that served only chicken fingers. Although his business plan received the lowest grade in his class, Graves didn’t let that stop him. After graduating, he moved to California, where he worked long hours at an oil refinery, and later fished in Alaska to save money for his dream. His determination paid off, as he invested between $40,000 to $50,000 of his own savings and raised another $100,000 from friends, family, and a Small Business Administration loan.

In 1996, Graves finally opened his first Raising Cane’s restaurant in Baton Rouge, Louisiana. Despite having no experience managing a business, he worked tirelessly from 8 a.m. to 3:30 a.m. every day to make it a success. Over time, Graves learned how to hire and train employees, and his business started to grow. Today, Raising Cane’s has more than 800 locations worldwide and earned $3.7 billion in sales last year.

Graves, now 52, owns more than 90% of the company and has no plans to sell it to outside investors. He wants to pass the business on to his children, hoping they will continue its growth and uphold the values he and his wife have instilled. His vision for Raising Cane’s is to expand globally while maintaining its focus on serving quality chicken finger meals, building a great team, and staying involved in the community. The company expects to hit $5 billion in sales by the end of 2024, as they celebrated their 28th anniversary this year.

Interestingly, Graves initially wanted to name the restaurant "Sockeye’s" after the fish he encountered in Alaska. However, after receiving advice from a friend, he chose to name it after his beloved dog, Raising Cane, who often visited the construction site of the first restaurant.

Todd Graves’ journey to success has earned him a spot on the Forbes 400 list, where he ranks as the 107th richest person in America, with an estimated net worth of $9.5 billion. This year, Graves will also bring his experience to "Shark Tank" as a Guest Shark in Season 16. He’s excited to share his insights with budding entrepreneurs and believes that business is about helping others succeed, not just making money. He understands the value of having someone believe in you, a lesson he hopes to pass on to future generations of business owners.

 

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