Raising Cane’s is a quick service restaurant that serves chicken fingers.
Raising Cane’s is an interesting and attractive asset for net lease investors. Cane’s has been growing at a rapid pace, named Nation’s Restaurant News fastest-growing US chain in 2017. This expansion means the guarantee behind the leases are getting stronger. The leases Cane’s tends to sign relieve investors of any landlord responsibilities and have rental increases throughout the base term. This leaves the investor with a hassle-free investment with a built-in hedge against inflation.
Raising Cane’s was founded by Todd Graves in 1996 in Baton Rouge, LA. Today, they have expanded to over 375 locations in 24 states, Bahrain, Kuwait, Lebanon, Saudi Arabia, and the UAE with more under construction. Cane’s menu is very narrow, serving only chicken fingers. The idea of a single focus restaurant made it difficult to get a loan. Graves took jobs as a boilermaker at an oil refinery and Sockeye Salmon fisherman to raise some money for the first restaurant. Once the doors opened, the concept became popular and the chain was born.