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How I Built This with Guy Raz
How I Built This with Guy Raz

Advice Line with Todd Graves of Raising Cane's

December 25, 2025 • 50m

Summary

⏱️ 9 min read

Overview

Todd Graves, founder of Raising Cane's, joins Guy Raz to advise entrepreneurs on scaling their businesses. The episode features three callers seeking guidance on expansion strategies, financing challenges, and deciding whether to add brick-and-mortar locations. Todd shares insights from growing Cane's to over 1,000 locations while maintaining exceptional quality standards, emphasizing the importance of staying focused on core strengths rather than chasing diversification.

Introduction to Todd Graves and Raising Cane's Success

Todd Graves returns to discuss Raising Cane's remarkable growth, including surpassing KFC as the third-largest chicken quick-service restaurant in the US during summer 2025. Despite having only 1,000 locations compared to competitors with many more, Cane's achieves success through exceptionally high average unit volumes. The conversation establishes Todd's expertise in maintaining quality standards across both corporate-owned and franchise locations, setting the stage for advice on scaling businesses without compromising core values.

  • Raising Cane's surpassed Kentucky Fried Chicken as the third largest chicken quick service restaurant in the US in summer 2025
  • Cane's has approximately 1,000 restaurants with the highest average unit volumes in the industry
  • The company maintains a hybrid model with mainly corporate-owned locations and some franchises, particularly overseas
" It's also really interesting, too, our unit count. You know, we only have 1,000 restaurants. And looking at the average unit volumes, it's kind of a different way to grow, right? We just not have these mass volumes, but having the highest of the highest average unit volumes per restaurant, that really adds up. "

Selecting the Right Franchise Partners

Todd explains his meticulous approach to selecting franchise partners, particularly his relationship with the Alshaya Company in the Middle East. He emphasizes that picking the right franchisee is crucial to maintaining brand standards, describing how he spent two years courting and vetting his Middle Eastern partner before doing business. The conversation reveals that successful franchising requires finding partners who share your values and operational excellence, not just capital.

  • Todd courted his Middle Eastern franchise partner Muhammad Alshaya for two years before partnering
  • Both parties mystery shopped each other's brands to assess quality and standards
  • Todd spent weeks in the Middle East observing how Alshaya's team ran their various brands
  • The partnership has lasted over 10 years with no major problems
" Picking the best franchisee is so clutch, so clutch. So let me give you an example, Muhammad Alshaya, the Alshaya Company in the Middle East. That's my partner. I've been partner now for over 10 years. I courted, we talked, Muhammad and I talked for two years before we did something. "

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