Todd Graves' high-risk funding strategy for Raising Cane's Chicken Fingers was a bold gamble that almost cost him his dream.
Today, the co-CEO and founder of Raising Cane's is worth an estimated $9.5 billion, according to Forbes, thanks to his over 90% ownership stake in the company.
When he was growing the chain, Graves said he took out loans with private investors at a 15% interest rate.
"I tell entrepreneurs, 'Don't do that,' because my dream almost just went away," Graves told the "Trading Secrets" podcast in May.
Today, Graves makes sure his company has less than three dollars of debt for every dollar it owns, he told "Trading Secrets."
Persons:
Todd Graves, Forbes, Graves
Organizations:
Hurricane
Locations:
Alaska, Baton Rouge