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Chipotle Essay

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Below is an essay on "Chipotle" from Anti Essays, your source for research papers, essays, and term paper examples.

History
Chipotle was founded by Steve ells in 1993. After graduating from culinary school he worked at a high-end star restaurants in San Francisco. His inspiration for creating chipotle came from frequent visits to little taquerias in San Francisco. This is where he put a twist to the traditional Mexican food by stuffing burritos with gourmet ingredients. Sticking to the Mexican food theme, he named the restaurant chipotle which derives from the Mexican Spanish name for a smoked, dried jalapeno chili pepper
On July of 1993 with the help of his father’s loan of 85,000 dollars he opens the first chipotle Mexican grill in Denver, Colorado. Locating the restaurant near the campus of the University of Denver. At an old dolly Madison ice cream shop that was 880 square feet. In order to be profitable ells goal was to sell 107 burritos a day but the restaurant was selling well over 1000 burritos a day. Giving him the opportunity to open his 2nd restaurant in 1995 with just the profits from his first restaurant. By the end of 1998 he had already opened 14 restaurants from his profits and an SBA loan to fund more growth, all 14 restaurants located in Denver.
Expansion (investors)
In 1998, McDonalds invested 360 million dollars to expand the chain nationwide at this point McDonald’s owned 90% of chipotle stake. This investment helped chipotle expand from 14 restaurants to over 500 by the end of 2005. Since chipotle was adding at least 100 restaurants a year the CEO of McDonald’s thought it was too much work so in 2006 McDonald’s cashes on its investments and walks away with 1.5 billion dollars. (So McDonald’s does not own chipotle at this time)
His dad invested an additional 1.5 million dollars, ells also created a board of directors which brought in an additional investment of 1.8 million to keep expanding the company.
By the early 2000’s the expansion of chipotle caused ells to try and improve his organic healthy ingredients and created “food with integrity”...

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Chipotle. Anti Essays. Retrieved December 18, 2017, from the World Wide Web: http://www.antiessays.com/free-essays/Chipotle-722175.html