Shake Shack Files For a Massive $100 Million IPO
Burgers are big business, as anyone in the burger business can tell you. Burger joints reign supreme over any other kind of restaurant, making twice the dough of their nearest competitor, pizza parlors. So, with that in mind, it should come as no surprise that NYC darling Shake Shack has just filed for a $100 million initial public offering with the U.S. Securities and Exchange Commission.
What does this mean? Well, for one, expect to be able to buy and sell Shake Shack stocks in the near future. You should also expect many new franchise locations to open up around the world. The company plans to open ten new locations per year, capping out at a ludicrous 450. They are also rebranding themselves under the new label 'fine casual.' It's sort of like casual Friday if, instead of finally being able to eschew that suit, you had to wear one of those dumb tuxedo t-shirts.
The documents outlining the offering have some interesting facts about the company, including their plans to open multiple locations in Russia and the success of the Middle East market, which already boasts twenty locations. It looks like the golden arches may face some stiff competition from brisket burgers in the near future.