Founders My conversation with Todd Graves
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Nov 9, 2025 
Todd Graves, founder of Raising Cane's, shares insights from his journey of building a $20 billion fast-food empire. He emphasizes the importance of focus, inspired by In-N-Out Burger's success, and discusses overcoming skepticism while starting out. Todd reveals his unconventional paths to financing and the sacrifices made in the early days. He highlights a culture of positive management and the relentless pursuit of quality, illustrating how commitment to values drives true success beyond profit.
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Obsession With One Product
- Focus your product on one thing and make it exceptional, not merely 'simple.'
- Invest time and money to perfect ingredients and processes so the product is consistently craveable.
Quality Lives In Tiny Decisions
- Small ingredient and process choices (bird species, brine time, bread style) define perceived quality.
- These technical details create consistent taste and scale across markets, so prioritize them early.
In-N-Out Inspired The Model
- Todd studied In-N-Out's single-menu model and used it as proof that focus can scale since 1948.
- That example convinced banks and reinforced his one-product conviction.