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A look at the recent sale of Dave's Hot Chicken

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Manage episode 497431670 series 2342524
Content provided by Restaurant Business Magazine. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Restaurant Business Magazine or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

How does a restaurant chain go from parking lot startup to $1 billion valuation in less than a decade?

This week’s episode of A Deeper Dive focuses on the recent sale of Dave’s Hot Chicken to Roark Capital. It features the fast-casual chain’s CFO, James McGehee, and SVP of Finance Scott Putman.

Dave’s Hot Chicken was founded in a Los Angeles parking lot—yes, a parking lot—by four friends in 2017.

They got favorable local reviews and the concept took off. It brought in investors and professional management and took advantage of a consumer that wants a lot more chicken and spicier options.

Dave’s has been one of the fastest-growing restaurant chains in the U.S. over the past several years, including nearly 60% system sales growth last year, according to Technomic. And it earned the company a $1 billion sale to the private-equity firm Roark Capital.

While some industries such as technology can reach $1 billion valuations in a hurry that kind of growth is nearly unheard of in the restaurant space.

We explore exactly how a company can achieve that kind of success, that quickly. Check it out.

  continue reading

376 episodes

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iconShare
 
Manage episode 497431670 series 2342524
Content provided by Restaurant Business Magazine. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Restaurant Business Magazine or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

How does a restaurant chain go from parking lot startup to $1 billion valuation in less than a decade?

This week’s episode of A Deeper Dive focuses on the recent sale of Dave’s Hot Chicken to Roark Capital. It features the fast-casual chain’s CFO, James McGehee, and SVP of Finance Scott Putman.

Dave’s Hot Chicken was founded in a Los Angeles parking lot—yes, a parking lot—by four friends in 2017.

They got favorable local reviews and the concept took off. It brought in investors and professional management and took advantage of a consumer that wants a lot more chicken and spicier options.

Dave’s has been one of the fastest-growing restaurant chains in the U.S. over the past several years, including nearly 60% system sales growth last year, according to Technomic. And it earned the company a $1 billion sale to the private-equity firm Roark Capital.

While some industries such as technology can reach $1 billion valuations in a hurry that kind of growth is nearly unheard of in the restaurant space.

We explore exactly how a company can achieve that kind of success, that quickly. Check it out.

  continue reading

376 episodes

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