raising cane's stock

Raising Cane’s Stock IPO: Can You Invest in this Chicken Chain?

The following guide answers the question: Can you Buy Raising Cane’s Stock?

Just like Undervalued Stocks, this popular fast-food chain could be an enormously profitable investment center.

Many ask the same question about other popular chicken restaurants like Buffalo Wild Wings, Popeyes, and Chick-Fil-A.

Raising Cane’s Chicken Fingers is an American fast-food chain that has differentiated its business model from other entities by limiting its menu and specializing in offering the highest quality chicken fingers.

A strategy that was ridiculed at first, but now has caused the company to rise in popularity throughout the United States and rival the other large fast-food chains offering chicken options on their menus like Chick-Fil-A.

It is a great question to ask because this fast-food chain could be an enormously profitable investment center. Especially when you take into account the popularity of fast-food chicken chains, their simplified menu, and their growth throughout the U.S. and the Middle East.

Prior to diving into whether you can buy Raising Cane’s stock, it’s important to understand what it is and how it became as influential as it is today.

We explore this question of buying Raising Cane’s Stock below. If IPOs interest you, check out our list of the Best Upcoming IPOs.

What is Raising Cane’s?

Raising Cane’s Chicken Fingers is a fast-food chain that specializes in chicken fingers and has stayed true to this business model as they have continued to grow.

can you buy raising cane's stock

The company has expanded to over 500 locations throughout the U.S. and the Middle East and earns more than $1.9 billion in annual sales.

The simplified menu consists of 5 combos that include the following:

  • Box Combo – Four chicken fingers, crinkle-cut french fries, Texas Toast, coleslaw, Cane’s sauce, and a 22 oz. fountain drink.
  • 3 Finger Combo – Three chicken fingers, crinkle-cut french fries, Texas Toast, coleslaw, Cane’s sauce, and a 22 oz. fountain drink.
  • Caniac Combo – Six chicken fingers, crinkle-cut french fries, Texas Toast, coleslaw, two Cane’s sauces, and a 32 oz. fountain drink.
  • Kids Combo – Two chicken fingers, crinkle-cut french fries, Cane’s sauce, and a 12 oz. fountain drink.
  • Sandwich Combo – Three chicken fingers inside of a toasted bun topped with lettuce and Cane’s sauce, crinkle-cut fries, and a 22 oz. fountain drink.

Their delectable side dishes that complement their crispy and tender chicken strips and can be substituted for one another include:

  • French Fries
  • Texas Toast
  • Coleslaw

 

Raising Cane’s History

University of Georgia student, Todd Graves, and Louisiana State University student, Craig Silvey, were both enrolled in a business plan writing course when they were tasked with developing and proposing a plan for a company that would be submitted for a grade.

Graves worked at Guthrie’s Chicken Fingers while attending the University of Georgia, so the two developed a business plan based on the existing chicken finger restaurant market.

When Silvey turned the project in, he received a C- for the proposal Graves had developed. The professor told them that a chicken-fingers-only business could never succeed.

Raising Cane's stock History

However, the two did not let one bad grade deter them from pursuing this business venture. But they ran into additional roadblocks after graduation when they pitched the idea to potential investors and were rejected each time.

Deciding to raise the money to start the company himself, Graves worked two backbreaking and dangerous jobs in different areas of the U.S.

The first was as a boilermaker in a Los Angeles refinery where he worked for 90 hours per week. The second was along the coast of Alaska where he worked 20 hours per day fishing for sockeye salmon.

Graves returned home to Louisiana and the two men obtained an SBA loan that they used to open the first Raising Cane’s Chicken Finger location in Baton Rouge, Louisiana, in August of 1996.

Raising Cane's stock advantages

A location that was prime real estate as it was situated outside the North Gates leading to the Louisiana State University campus. International expansion first took place in Kuwait in 2015.

Due to the Covid-19 pandemic in 2019, the restaurant transitioned from a dine-in to a pick-up model.

In July of 2020, some of the company’s locations had opened back up their dining rooms for customer use.

Advantages

Although the company has grown exponentially from its founding, it has never strayed from the commitment to serving the communities they are in.

One way Raising Cane’s rewards its loyal customers is through their Caniac Club promotion.

Signing up is simple and rewarding as patrons simply ask for a Caniac Club card at the nearest location, register their online account, and they will receive a free Box Combo for doing so.

Raising Cane’s stock club card

The more money the customer spends at any Raising Cane’s location, the more offers, and promotions they will receive.

Supporting education has been a cornerstone of the company ever since its first location was located near the Louisiana State University campus and its first customers were students.

Today, the company supports schools in the communities it serves and employs the students in those schools.

Raising Cane’s is facing the homelessness and hunger problems in the U.S. head-on as they support local food banks and other organizations that provide meals and goods to these populations.

The mascot of Raising Cane’s Chicken Fingers is a yellow Labrador retriever named Raising Cane.

company mascot

So a commitment to supporting local pet welfare causes and no-kill pet facilities has been central to the philosophy of the company.

This is done through selling plush stuffed animals that resemble the mascot and the company has been able to raise $850,000 to date from these sales.

The company also promotes an active lifestyle through supporting walking trails, recreation areas, and programs, runs and walks sports teams, and physical fitness programs.

Inspiring the next generation of entrepreneurs is another cause Raising Cane’s has championed.

This is done through a program called ‘Lemonade Day’ and is centered around kids learning how to run their own lemonade stand.

Through participating in the program, kids learn valuable skills, such as responsibility, goal-setting, teamwork, business skills, financial literacy, confidence, creativity, and entrepreneurial skills.

Finally, the Restaurant Recovery program is a television series streaming on Discovery+ that helps family-owned restaurants suffering from the restrictions that accompanied the Covid-19 pandemic adjust their business model to succeed in these unprecedented times.

Raising Cane’s Stock IPO?

As Raising Cane’s Chicken Fingers is a private company, you cannot purchase shares of stock in the company.

Raising Cane's Stock IPO?

Raising Cane’s Stock – Estimated Value

Since Raising Cane’s is not currently a publicly-traded company, there is not a price to report on how much a single stock in the company would cost.

The most accurate way to determine an initial IPO price would be to compare it to other chain fast food restaurants.

We can use the IPO opening price of similar chain fast food companies to get a range of what to expect for a price when the company does go public.

McDonald’s

  • Opening Price of Stock: $22.50
  • Previous 52 Week High: $247.05

mcdonald's

Chipotle Mexican Grill

  • Opening Price of Stock: $22
  • Previous 52 Week High: $1,940.991

chipotle

Shake Shack

  • Opening Price of Stock: $21
  • Previous 52 Week High: $138.38

shake shack stock

Domino’s Pizza

  • Opening Price of Stock: $14
  • Previous 52 Week High: $548.72

domino's stock

With a business model that differentiates itself from its competition and the continued expansion in areas around the U.S., one could infer that if Raising Cane’s ever went public, the price of their IPO could fall somewhere within the opening prices above.

Therefore, it would be safe to assume that its IPO opening price could range from $15 – $20.

Alternative Investments

So, you can’t buy stock in Raising Cane’s Chicken Fingers, but you’re determined to buy equity in another chain restaurant company. What are some of your alternative options?

  • McDonald’s (MCD)
  • Chipotle Mexican Grill (CMG)
  • Shake Shack (SHAK)
  • Yum! Brands (YUM)
  • Restaurant Brands International (QSR)
  • Dominos Pizza (DPZ)
  • The Wendy’s Company (WEN)

Can You Buy Stock in Raising Cane's?

Can You Buy Stock in Raising Cane’s?

It is a great question to ask because this fast-food restaurant chain could be an enormously profitable investment center.

Especially when you take into account the limited niche menu, high-quality ingredients, and they trust the company has through investing in the communities they serve.

Ultimately, no, you cannot buy stock in Raising Cane’s Chicken Fingers. But with its rapid growth and expansion into areas all around the U.S. and the Middle East, the company could go public very soon.

Frequently Asked Questions

Can you Buy Raising Cane’s Stock?

No, you can’t buy stock in Raising Canes. Raising Canes is a privately owned company.

When is the Raising Cane’s IPO?

Raising Canes has not filed for an IPO and will likely not go public on its own.

How Much will Raising Cane’s Stock Cost?

Although Raising Canes has not filed for an IPO, would be safe to assume that its IPO opening price would fall somewhere in the $15 to $20 range.

Who Owns Raising Canes?

Raising Canes is owned by Todd Graves.