The One-Item Menu That Built a $10B Empire

Todd Graves took a business plan that got a B-minus in class and turned it into a billion-dollar fast food empire.

His secret? 

Doing one thing better than anyone else.

Here’s how the founder of Raising Cane’s went from getting laughed out of banks to building a business with over 800 locations…

And the lessons every founder can learn from his story.

Focus Beats Variety

Raising Cane’s doesn’t do salads. 

It doesn’t do burgers. 

It doesn’t even do ranch.

Just chicken fingers, crinkle-cut fries, coleslaw, toast, and a drink. 

That’s it.

By sticking to a focused menu, Graves created:

• Faster operations

• Less waste

• Easier training

• Higher consistency

And most importantly: a brand that’s known for doing one thing really, really well.

The lesson here is simple: 

Don’t add more. Do what you do better.

Use Rejection is Fuel

Todd’s business plan was rejected by professors. Every bank turned him down.

So he went to Alaska. Worked 90-hour weeks in oil refineries. Fished commercially. And saved every penny.

That money became the seed capital for the first Raising Cane’s, plus a few small investments from friends, coworkers, and even his bookie

If nobody will fund you, go earn it. Sweat equity is still equity.

Keep Control if You Can

Most founders give up equity early. Todd didn’t.

By bootstrapping, using subordinated loans, and reinvesting profits, he kept over 90% ownership.

That gave him freedom to:

• Say no to private equity

• Stick to his vision

• Make long-term decisions without outside pressure

Even now, 95% of Raising Cane’s locations are company-owned. Not franchised.

Control isn’t just about money. It’s about mission.

Obsess Over Details

Even today, Todd personally reviews site locations. He still approves social posts. He jumps behind the counter.

He’s in the details.

Not because he has to be, but because he cares that much.

From custom tea leaves to the tone of a drive-thru voiceover, Todd treats every element like it matters. And it does.

Great founders stay close to the core. They never stop obsessing.

Find a Simple Idea and Take It Seriously

Todd Graves didn’t invent chicken fingers.

He just took a simple idea and refused to water it down.

He said no to menu expansion. 

No to private equity.

 No to moving fast just to keep up.

And in doing so, he built a wildly profitable, fast-growing brand with fanatical customer loyalty.

In a world that rewards chasing the next thing, Graves proved that relentless focus still works.

Let’s have a great week,

—The TRIBE Team