Chipotle Mexican Grill Flour Tortilla | A Man Had Chipotle For 107 Days

Uploaded by admin on October 30, 2017 at 10:32 pm

Chipotle Mexican Grill Flour Tortilla | A Man Had Chipotle For 107 Days

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Chipotle Mexican Grill Flour Tortilla | A Man Had Chipotle For 107 Days

Chipotle Mexican Grill, Inc. (/tʃɨˈpoʊtleɪ/) is a chain of restaurants in the United States, United Kingdom,Canada,Germany,and France,specializing in Mission burritos and tacos. Its name derives from chipotle, the Nahuatl name for a smoked and dried jalapeño chili pepper.

The company has released a mission statement called Food with Integrity, which highlights its efforts in using organic ingredients,and serves more naturally raised meat than any other restaurant chain.Chipotle is one of the first chains of fast casual dining establishments.

Founded by Steve Ells in 1993, Chipotle had 16 restaurants (all in Colorado) when McDonald's Corporation became a major investor in 1998. By the time McDonald's fully divested itself from Chipotle in 2006,the chain had grown to over 500 locations.

With more than 1700 locations, Chipotle had a net income in 2013 of US$327.4 million and a staff of more than 45,000 employees as reported in a 2015 CNN Money syndicated report via WTVR.

Founder Steve Ells attended the Culinary Institute of America in Hyde Park, New York. Afterward, he became a line cook for Jeremiah Tower at Stars in San Francisco.There, Ells observed the popularity of the taquerías and San Francisco burritos in the Mission District. In 1993, Ells took what he learned in San Francisco and opened the first Chipotle in Denver, Colorado at 39.67834°N 104.967682°W, in a former Dolly Madison Ice Cream Store near the University of Denver campus using an $85,000 loan from his father.

Ells and his father calculated that the store would need to sell 107 burritos per day to be profitable. After one month, the original restaurant was selling over 1,000 burritos a day.The second store opened in 1995 using Chipotle's cash flow, and the third was opened using an SBA loan. To fund more growth, Ells' father invested $1.5 million. Afterwards, Ells created a board of directors and business plan, raising an additional $1.8 million for the company.Ells had originally planned to use funds from the first Chipotle to open a fine-dining restaurant, but instead focused on Chipotle Mexican Grill when the restaurants saw success.

In 1998, the first restaurant outside of Colorado opened in Kansas City, Missouri.The company opened its first location in Minnesota by opening near the campus of the University of Minnesota in Minneapolis in March 1999.

In 1998, McDonald's made an initial minority investment in the company. By 2001, the company had grown to be Chipotle's largest investor.The investment from McDonald's allowed the firm to quickly expand, from 16 restaurants in 1998 to over 500 by 2005.On January 26, 2006, Chipotle made its initial public offering (IPO) after increasing the share price twice due to high pre-IPO demand. In its first day as a public company, the stock rose exactly 100%, resulting in the best U.S.-based IPO in six years, and the second-best IPO for a restaurant after Boston Market. The money from the offering was then used to fund new store growth.

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Chipotle Mexican Grill Flour Tortilla | A Man Had Chipotle For 107 Days

Founded by Steve Ells in 1993, Chipotle had 16 restaurants (all in Colorado) when McDonald’s Corporation became a major investor in 1998. By the time McDonald’s fully divested itself from Chipotle in 2006,the chain had grown to over 500 locations.

With more than 1700 locations, Chipotle had a net income in 2013 of US$327.4 million and a staff of more than 45,000 employees as reported in a 2015 CNN Money syndicated report via WTVR.

Ells and his father calculated that the store would need to sell 107 burritos per day to be profitable. After one month, the original restaurant was selling over 1,000 burritos a day.The second store opened in 1995 using Chipotle’s cash flow, and the third was opened using an SBA loan. To fund more growth, Ells’ father invested $1.5 million. Afterwards, Ells created a board of directors and business plan, raising an additional $1.8 million for the company.Ells had originally planned to use funds from the first Chipotle to open a fine-dining restaurant, but instead focused on Chipotle Mexican Grill when the restaurants saw success.

In 1998, McDonald’s made an initial minority investment in the company. By 2001, the company had grown to be Chipotle’s largest investor.The investment from McDonald’s allowed the firm to quickly expand, from 16 restaurants in 1998 to over 500 by 2005.On January 26, 2006, Chipotle made its initial public offering (IPO) after increasing the share price twice due to high pre-IPO demand. In its first day as a public company, the stock rose exactly 100%, resulting in the best U.S.-based IPO in six years, and the second-best IPO for a restaurant after Boston Market. The money from the offering was then used to fund new store growth.