In the mid-1990s, Todd Graves and his friend, Craig Silvey, wrote a business plan for a fast-food restaurant that sold only fried chicken tenders. Silvey’s professor at Louisiana State University gave it the lowest grade in the class.
But Graves didn’t let the criticism stop him.
He worked to raise his own funds and eventually opened his chicken-tender restaurant, Raising Cane’s, in 1996.
Cane’s now has more than 800 restaurants in the US and internationally, with locations in over 40 states. The chain, whose loyal fans are known as “Canaics,” made $2.3 billion in revenue during the first half of 2024, Bloomberg reported.
As founder, Graves has close to a 90% stake in the company. Forbes reported his estimated net worth is $9.5 billion as of October 18, 2024.
Here’s how Graves turned a bad grade into a billion-dollar business.
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