If someone passed by your food kart and told you that one day your business would skyrocket to a $1 billion company, would you believe them or call them crazy?
Guess you’ve never heard of Danny Meyer and his Shake Shack kiosk then – the kiosk in a NYC park that grew to become a household name all over the world. With their amazing marketing, amazing burgers and unbeatable milk shakes, Shake Shack took on the giants and established itself as the guy you don’t mess with in the burger business.
Shake Shack today is present in over 50 locations, from the good ol’ London to the fancy malls of Dubai and Moscow. But is it really that big of a deal after all? Well, the projected IPO that Shake Shack will go for will put the value of the company at 50 times its annual revenue, meaning, Shake Shack brings in only $20 million in earnings. Overvalued, perhaps, but the burger chain is worth every penny!
The IPO will be managed by JP Morgan and Morgan Stanley as usual, and the event is yet another example of how taking it all the way from the bottom to an IPO is not impossible. Nothing can predict how fast you can grow or how amazing you will be, but one thing is for sure, if you don’t take the first steps and put in the effort, you’ll always be two steps behind, wondering “how they did it”.
Photo Credit: Washingtonian