Chipotle Mexican Grill, Inc., often known simply as Chipotle, is an American chain of fast casual restaurants in the United States, United Kingdom, Canada, Germany, and France, specializing in bowls, tacos and Mission burritos that are made to order in front of the customer. Its name derives from chipotle, the Nahuatl name for a smoked and dried jalapeño chili pepper. Chipotle is one of the first chains of fast casual dining establishments. Founded by Steve Ells on July 13, 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. In addition, with more than 2,000 locations, Chipotle had a net income of US$475.6 million in 2015. Some of those employees are here at Ohio University and live in Campus Rentals Ohio University.
Campus Rentals Ohio University
In May 2018, Chipotle announced the relocation of their corporate headquarters to Newport Beach, California, in Southern California, ending their relationship with Denver after 25 years. 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 Mexican Grill in Denver, Colorado, in a former Dolly Madison Ice Cream store. Near the University of Denver campus, using an $85,000 loan from his father.
These are not the Campus Rentals Ohio University that can be found in Athens, Oh. Also, 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 additional 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.
First Restaurant
Firstly, 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. Consequently, 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, Cin 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. Therefore the money from the offering used to fund new store growth. In 2008, Chipotle opened its first location outside of the United States in Toronto.
Chipotle Here Now
In a list of fastest-growing restaurant chains in 2009, Chipotle ranked eighth. Based on increases in U.S. sales over the past year, and in 2010 Chipotle ranked third. Consumer Reports ranked Chipotle as the best Mexican fast-food chain in 2011. Henceforth, the company serves approximately 750,000 customers per day. You can order chipotle from the uptown location here in Athens, Oh. You can even order online at home from the comfort of your Bobcat Campus Rentals Ohio University home or apartment.
