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Chipotle Mexican Grill (CMG - Free Report) is one of the most popular restaurants around these days, wrapping up delicious, fresh ingredients in burritos, bowls, tacos, and salads, but how much do you really know about the company and its history? Below are 10 facts every Chipotle die-hard fan should know:
The Inspiration Behind Chipotle
According to founder and CEO Steve Ells, the inspiration for Chipotle came from authentic taquerias in San Francisco that Ells loved to eat at. In a company video, Ells says, “What fascinated me about these burritos was that they were made in this giant tortilla, and everything was on the inside wrapped in foil- I had never seen anything like that before.”
From An Art History Major, To Culinary School
After studying art history at the University of Colorado Boulder, Ells went to the Culinary Institute of America in New York, with the notion to become a chef. After that Ells went to San Francisco to work for one of his favorite restaurants at the time as a sous chef, where he said he “really started to learn to cook and taste critically”.
The First Location
Chipotle’s first location came to fruition in 1993 in Colorado, thanks to a $75,000 loan Ells received from his father. It was opened by Ells in the hope that he could make enough money to open a fine dining spot of his own, but after he saw the success Chipotle was having, he decided to ditch the fine dining idea and keep the ball rolling.
Minimalist Design From Humble Beginnings
The minimalist design that customers experience inside of Chipotle locations actually comes from the design of the first location. The budget was tight and the company had to use what it could afford to decorate the restaurant from a local hardware store, hence the sheet metal and wood furniture and fixtures around the store.
McDonald’s Once Was An Owner
From 1998 to 2006, McDonald’s Corp. (MCD - Free Report) owned a controlling stake in Chipotle. The fast-food burger chain divested in 2006 when Chipotle launched its IPO, in a move that is now seen by many as a big mistake after the success Chipotle has had. MCD was a big part of Chipotle’s initial success though, taking the Mexican Grill from 13 locations to more than 500.
Holy Guacamole
Chipotle uses roughly 35 million pounds of avocados per year, or roughly 97,000 pounds per day. There are about 60 avocados used in each batch of the company’s delicious guacamole.
Menu Items (That Aren’t Really On The Menu)
Chipotle has somewhat of a “secret menu”, that consists of several items one can order to be made from the company’s ingredients. Quesadillas and nachos are two of these items, and if one is lucky and the restaurant is slow, Chipotle workers will make you a Quesarito, which is a burrito wrapped with a cheese quesadilla as the tortilla.
Chipotle’s Other Ventures
Chipotle has applied its fast-casual ideology to cuisines other than its own. The company owns Shophouse, which could be considered a Southeast Asian-version of Chipotle, in addition to Pizzeria Locale, a fast-casual pizza restaurant located in a few areas around the US.
Why Chipotle Does Not Have Queso
Chipotle knows that customers want queso to be available for addition onto their menu items, but it likely won’t ever be an option. Queso usually takes several preservatives and additives to keep it in its saucy form, most of which do not go along with Chipotle’s values. Also, Steve Ells did make a queso once with an artisan Mexican blend of cheeses, and put it in a blind taste test against Velveeta cheese sauce. Every taste-tester picked the Velveeta cheese sauce, and the idea of Chipotle queso was ditched.
An IPO You Wish You Had Invested In
Chipotle launched its IPO in 2006, at an initial price of $22 per share. On its first day of trade, CMG closed trading at double that price, at $44 a share. If one had invested $1,000 in Chipotle at its initial offering price, which would have been 45 shares, that investment would now be worth more than $18,000. Chipotle’s shares now trade for more than $400 per share, after food safety issues have brought its price down in recent months.
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10 Delicious Facts Behind Chipotle
Chipotle Mexican Grill (CMG - Free Report) is one of the most popular restaurants around these days, wrapping up delicious, fresh ingredients in burritos, bowls, tacos, and salads, but how much do you really know about the company and its history? Below are 10 facts every Chipotle die-hard fan should know:
The Inspiration Behind Chipotle
According to founder and CEO Steve Ells, the inspiration for Chipotle came from authentic taquerias in San Francisco that Ells loved to eat at. In a company video, Ells says, “What fascinated me about these burritos was that they were made in this giant tortilla, and everything was on the inside wrapped in foil- I had never seen anything like that before.”
From An Art History Major, To Culinary School
After studying art history at the University of Colorado Boulder, Ells went to the Culinary Institute of America in New York, with the notion to become a chef. After that Ells went to San Francisco to work for one of his favorite restaurants at the time as a sous chef, where he said he “really started to learn to cook and taste critically”.
The First Location
Chipotle’s first location came to fruition in 1993 in Colorado, thanks to a $75,000 loan Ells received from his father. It was opened by Ells in the hope that he could make enough money to open a fine dining spot of his own, but after he saw the success Chipotle was having, he decided to ditch the fine dining idea and keep the ball rolling.
Minimalist Design From Humble Beginnings
The minimalist design that customers experience inside of Chipotle locations actually comes from the design of the first location. The budget was tight and the company had to use what it could afford to decorate the restaurant from a local hardware store, hence the sheet metal and wood furniture and fixtures around the store.
McDonald’s Once Was An Owner
From 1998 to 2006, McDonald’s Corp. (MCD - Free Report) owned a controlling stake in Chipotle. The fast-food burger chain divested in 2006 when Chipotle launched its IPO, in a move that is now seen by many as a big mistake after the success Chipotle has had. MCD was a big part of Chipotle’s initial success though, taking the Mexican Grill from 13 locations to more than 500.
Holy Guacamole
Chipotle uses roughly 35 million pounds of avocados per year, or roughly 97,000 pounds per day. There are about 60 avocados used in each batch of the company’s delicious guacamole.
Menu Items (That Aren’t Really On The Menu)
Chipotle has somewhat of a “secret menu”, that consists of several items one can order to be made from the company’s ingredients. Quesadillas and nachos are two of these items, and if one is lucky and the restaurant is slow, Chipotle workers will make you a Quesarito, which is a burrito wrapped with a cheese quesadilla as the tortilla.
Chipotle’s Other Ventures
Chipotle has applied its fast-casual ideology to cuisines other than its own. The company owns Shophouse, which could be considered a Southeast Asian-version of Chipotle, in addition to Pizzeria Locale, a fast-casual pizza restaurant located in a few areas around the US.
Why Chipotle Does Not Have Queso
Chipotle knows that customers want queso to be available for addition onto their menu items, but it likely won’t ever be an option. Queso usually takes several preservatives and additives to keep it in its saucy form, most of which do not go along with Chipotle’s values. Also, Steve Ells did make a queso once with an artisan Mexican blend of cheeses, and put it in a blind taste test against Velveeta cheese sauce. Every taste-tester picked the Velveeta cheese sauce, and the idea of Chipotle queso was ditched.
An IPO You Wish You Had Invested In
Chipotle launched its IPO in 2006, at an initial price of $22 per share. On its first day of trade, CMG closed trading at double that price, at $44 a share. If one had invested $1,000 in Chipotle at its initial offering price, which would have been 45 shares, that investment would now be worth more than $18,000. Chipotle’s shares now trade for more than $400 per share, after food safety issues have brought its price down in recent months.
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