Raising Cane’s, founded in 1996, isn’t new to the fried chicken game. But in the last 5 years alone, the company doubled its footprint to nearly 950 locations!
Now, Raising Cane’s is the third largest fried chicken chain in the United States, only behind Chick-fil-A and Popeye’s, with about $5 billion in sales in 2024. And, Raising Cane’s plans to open 500-600 new locations, including in Mexico.
You might be wondering how to open a Raising Cane’s franchise and how much it costs. Let’s review investment and partnership opportunities with Raising Cane’s as well as other fried chicken franchises.
Is Raising Cane’s a franchise?
Soon after Raising Cane’s started serving up its now viral fried chicken fingers, it began franchising in 2000/2001. The franchising program was short lived, though, and the business now focuses exclusively on operating corporate-owned restaurants. This strategy has allowed Raising Cane’s to carefully control the quality, customer experience, and branding.
While some long-standing franchise partners continue operations, anyone interested in opening a new Raising Cane’s franchise will need to wait.
Who can open a Raising Cane’s location?
Because Raising Cane’s is only open to limited partnerships, no one is able to open a new Raising Cane’s franchise right now.
The company is privately held and focuses on expanding company-owned restaurant locations and supporting the few existing franchise partners it has.
Right now, Raising Cane’s is not seeking partnerships with new vendors, suppliers or consultants. Though, anyone interested in collaborating as a future partner can submit interest by postal mail, according to the Raising Cane’s website.
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Raising Cane’s licensing costs
While Raising Cane’s does not offer new licensed or franchised locations, entrepreneurs can determine costs to open a future Raising Cane’s franchise based on historical numbers.
Data from Franchise Disclosure Documents (FDDs) show that initial franchise fees to open a Raising Cane’s could cost an estimated $45,000–$50,000, with additional annual royalty and marketing fees around 4-5% each.
A Raising Cane’s franchise may require a total initial investment of $1.3-3.5 million. Some of the most variable costs are real estate and construction, ranging from a few hundred thousand dollars to over 2 million depending on location.
Profiles of previous investors suggest a net worth of $1.5-2.5 M, with $500-750,000 in liquid assets.
Alternatives for entrepreneurs seeking a restaurant franchise
Because Raising Cane’s is not currently open to new franchisees, alternative investment opportunities include KFC, Popeyes, Wingspot, and Bojangles. Each requires similar fees and start-up costs. And, with massive brand awareness and customer loyalty, each is a lucrative alternative. A lesser-known brand projecting rapid growth and with franchise opportunities is Layne’s Chicken Fingers.
Investors hoping to open a Raising Cane’s franchise will have to wait. But, by reviewing previous Franchise Disclosure Documents (FDDs), entrepreneurs can better understand the capital requirements and financial expectations associated with a potential future Raising Cane’s opportunity, or evaluate comparable fried chicken franchise investments available today.
