Hardware Podcasts

Raising Cane's: Todd Graves (2022)

How I Built This · 6 Jan 2025 · 1h 21m

What this episode covers

Todd Graves, founder of Raising Cane's, explains how he built a $3 billion fast-food chain by focusing exclusively on four items: chicken fingers, crinkle-cut fries, Texas toast, and coleslaw. After being rejected by every bank in Baton Rouge, Graves funded his first location by working dangerous jobs as a boilermaker in oil refineries and a commercial fisherman in Alaska. He details the operational challenges of scaling from one to two locations, the decision to retain majority ownership rather than franchise, and the financial risks of leveraging debt during rapid expansion.

Most relevant to

early-stage companies and companies scaling up

Topics

Mentioned

Companies
Raising Cane's, Chick-fil-A, In-N-Out Burger, Popeyes, McDonald's, 5 Guys, KFC, U.S. Bank, Office Depot, Louisiana State University, University of Georgia
Products
Cane Sauce, Texas Toast, Chicken Fingers, Crinkle-cut Fries, Coleslaw

Related episodes from other shows

Other shows on the same ground, closest first.

  • The Startup CPG Podcast · 50m

    From Hand Sanitizer to Tomato Sauce - How Sauz Went From 10 Doors to 3,500 in a Year

    Troy Bonde, co-founder and CEO of Sauz, explains how he and co-founder Winston used proceeds from a pandemic-era hand sanitizer dispenser business to bootstrap the tomato sauce brand, launching at Erewhon in July 2023. Bonde details how rigorous in-store demo data and unique flavors like hot honey and summer lemon marinara drove rapid expansion from 10 to 3,500 doors, including Whole Foods and Target, within 12 months. He discusses the strategic decision to raise institutional capital from Coefficient Capital to fund growth in a low-margin category, the challenges of fundraising with compelling but early-stage data, and the importance of hiring an ops lead early to manage unit economics and scaling.

    Crowdfunding & preordersPricing, margins & unit economics
    9 chapters

  • The Startup CPG Podcast · 27m

    Founder Feature: Sean Knecht of Tantos!

    Sean Knecht, co-founder of Tantos (the first and only puffed pasta chip), discusses building the brand with celebrity chef Joe Sasto, detailing their origin story from a DM about flour-to-egg ratios to appearing on Shark Tank twice. Knecht explains the 'Shark Tank effect,' noting 3,000 orders in three days but also a significant cash flow hit due to Amazon holding funds for over a month. He outlines his strategy for pitching Whole Foods by analyzing SKU data to prove the snack aisle was oversaturated with tortilla chips, leading to a direct conversation with the buyer.

    Crowdfunding & preordersPricing, margins & unit economics
    6 chapters

  • The Startup CPG Podcast · 38m

    #115 Pure Gold Series: Lessons on Iterating from Seth Goldman + Updates on Eat the Change & Just Ice Tea

    Seth Goldman, Co-Founder of Eat the Change and Honest Tea, discusses the rapid scaling of his new beverage brand, Just Ice Tea, which has reached $16 million in gross sales and distribution in over 5,000 stores. He details the strategic decision to discontinue the company's first product, mushroom jerky, due to low velocity, and the subsequent packaging redesign of Cosmic Chews to improve consumer appeal. Goldman also covers the company's recent $14 million raise, the upcoming launch of a canned product line, and his leadership philosophy on mental health support and prioritization during hyper-growth.

    Scaling productionPricing, margins & unit economics
    7 chapters

  • The Startup CPG Podcast · 33m

    Founder Feature: Becca Wright of Piedmont Pennies

    Becca Wright, founder of Piedmont Pennies, explains how she turned her grandfather's North Carolina cheese cracker recipe into a bootstrapped CPG brand now sold in 35 states. She details the decision to self-manufacture to protect product quality, describing the transition from hand-pinch production to semi-automated packaging and the challenges of finding affordable commercial real estate. Wright also discusses her retail strategy, focusing on boutique and gifting channels rather than mass grocery, and her use of grants to fund early equipment purchases.

    Starting a product companyManufacturing partners & offshoring
    7 chapters

  • The Startup CPG Podcast · 42m

    #212 - King of Sauce: How Eric Skae Has Grown Carbone Fine Food into a $100M+ Brand

    Eric Skae, CEO of Carbone Fine Food, explains how the brand scaled to over $100M in sales and 25,000 retail doors in under five years using a distribution-first strategy. He details the importance of product quality, specifically using Number 10 cans and fresh ingredients, and managing co-packers like Major Food Group to maintain consistency. Skae also discusses his lean team structure, capital efficiency, and advice for early-stage brands to build a data story in a single region before expanding.

    Retail, wholesale & distributionMaterials & manufacturing processes
    7 chapters

The summary, chapters and topics are generated from the episode’s audio by this directory, not written by How I Built This. The episode itself belongs to its publisher.