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Title: History of Chipotle Introduction I. Attention-getter: What would your life be like without that special something, the one thing that keeps you holding on and would never let you go…? Just think about it for a second. I know what you’re all thinking, and is ok I’m thinking it too. Life would be hard without chipotle. II. Preview: Chipotle is a fast food company that broke all of the fast food rules. I plan to chronologically cover the history and timeline of Chipotle from its start to where it is now. I will first give an overview of the history of Steve Ells himself, then cover how Chipotle expanded including going public which many people don’t know about, and then I will discuss where the company is at right now and where they are headed in the future. I will conclude my speech with a summary from start to finish and again hit upon the new and exciting ventures for the company. Chipotle Mexican Grill opened in 1993 as a way for Steve Ells to make money to open a nicer restaurant. Now 20 years later it is worth 11 billion dollars. (Transition) … Chipotle Mexican Grill was only a side job for Steve Ells until it took off. Body I. Main idea 1- The beginning of Chipotle 1. Steve Ells, the founder of Chipotle, was a student at the Culinary Institute of America. It all started in 1993 when his dream to open up a full-scale nice restaurant needing funding that he didn’t have. Chipotle was merely just a way for him to fund the restaurant that he wanted. In an interview Steve Ells did for the Chipotle website produced by Sarah Rosenberg and Lyn Jenkins titled Chipotle- “How It All Started from 2011” Steve explained that the inspiration for the food came from Tacrias that he used to go to in San Francisco when he was working at a five star restaurant. The giant burrito shell that held all of the rice and meat and beans fascinated him. He wanted to put his own spin on the food. 2. Bloomberg Television put out a documentary series in 2013 titled Inside, the series looks at the history of different corporations. Carol Messer, a Bloomberg reporter got the inside scoop on Chipotle in the Inside: Chipotle episode of the series. 1. Carol Messar had the opportunity to interview Steve Ells, the founder of Chipotle. She asked him about the restaurants beginning and he replied quote“ The reason I opened chipotle was to generate cash so I could afford to open my full scale restaurant so with a very modest investment of 80,000 dollars from dad I opened chipotle” end quote. He found an affordable ice cream shop that was for sale near the University of Denver and purchased it for the first chipotle in 1993 in Denver only serving tacos and burritos. 2. Steve had a vision for the look and feel of Chipotle; the dream was for it not to be typical.

3. The food – organic (transition= a few years and a few more chipotles later) 1. Steve Ells read an article about Farmers in Iowa who were raising pork outdoors and humanely. The farmers fed the pigs a vegetarian diet, and did not give them growth hormones. He reached out for a sample of their meat and the rest is history. 1. In other fast food restaurants and other restaurants in general meat is used from close confinement factories that torture their animals and give them growth hormones. 2. Purchasing organic ingredients is more expensive but it was worth it to Steve. 2. In an interview with Colleen DeBaise, the Wall Street Journals former small business editor, on September 22nd in 2009 Steve Ells discussed the “food with integrity” approach that Chipotle has. He explained, I quote “ It’s about bringing the best quality, sustainably raised ingredients to everyone: chicken without antibiotics; beef without hormones. These ingredients were only available in high-end restaurants, not mainstream places. Today, we buy more naturally raised meat than any other restaurant company in the world.” End quote. 3. With the recent “organic trend”, Chipotle was a pioneer with being able to trace your food. On their website you have the ability to see where the pork, beef, chicken, and dairy cattle come from. There is information listed about how the animals are treated and pictures of them in their habitats. 4. Chipotle break the rules of being a “fast food restaurant”, Chipotle employees make fresh food all in the restaurant in front of their customers. Nothing is frozen and defrosted before it is served. Chipotle has created the fast casual category. (Panera) 5. Also, think about it their menu rarely changes, there are stable items and ordering different things is what makes the food taste different. (Internal summary) – Chipotle is distinguishable in the fact that it is fast food but it is high quality sustainable food. Transition- By 1997 there were 14 Chipotle locations and Ells wanted to open more but again he didn’t have the funding. That is when McDonald’s got in touch with chipotle and the company started to expand. II. Main idea 2 – the expansion 1. MCDONALDS - Carol Massar, from the Inside: documentary series explained that McDonalds began investing in Chipotle and over a few years McDonalds put 360 million dollars into the company making them the biggest stakeholder. 1. In the documentary series Malcolm Knapp, Restaurant Industry Consultant, told Carol Massar that I quote “Without McDonald’s they wouldn’t have become a big company. They immediately got the benefit of a huge company system’s, processes, and real estate expertise. End quote. McDonald’s allowed Chipotle to jump start, by 2002 it owned more than 90% of chipotles stock.

2. Joe Satran, a food and culture writer for the Huffington Post, which is an online news aggregator, wrote an article titled “Steve Ells Reflects on McDonald’s, GMOs, and first 20 years of his chain” in 2013. Satran wrote and I quote “ At first, it seemed like a match made in fast-food heaven. McDonald’s $360 million investment in Chipotle allowed the chain to open up hundreds of stores in just a few years, but the two companies started to grow apart culturally even as their business relationship flourished” end quote. 3. When Steve Ells started to purchase meat from organic farms the two companies began to shift from one another. It wasn’t that McDonald’s wasn’t ok with the shift but it was different than what McDonalds is used to. The two companies simply had different cultures. 4. In 2005 McDonald’s decided to take Chipotle public and in 2006 the companies officially broke away from each other. 2. Going public 1. On January 26th 2006 Chipotle made its initial public offering (an IPO). Due to such high demand from investors before the IPO the share price was higher. 2. On January 27th, 2006, the day after the IPO a local Denver newspaper reported that Chipotle doubled the stock price and raised $173 million dollars. Janet Forrieve freelance writer wrote and quote “shares closed at $44 for the day, up exactly 100% from the $22 selling price. Chipotle sold 7.88 million shares. And, the performance marks the best opening-day gain by any U.S.- based IPO since 2000. It is also the second-highest opening by any restaurant chain since Boston Chicken in 1993.” End quote. The money that Chipotle got from the IPO was used to open 90 more restaurants that year. (Internal summary)- Chipotle is now expanding even outside of the US, they now have 5 restaurants in Canada and 7 in Europe. (Transition) After going public and being worth more than 12 million dollars, Chipotle had a bright future ahead of them, filled with customers and different ways to market the brand and company. III. Main idea 3 – the future and where they are headed 1. Unconventional approach to marketing 1. They spend 1/3 of their sales on ingredients and VERY little on marketing 2. Huge contrast to their competitors who always changes their menu and puts out huge marketing campaigns. Their biggest marketing is the experience that you enjoy when you get food. 3. Cultivate festival with cooking demos, and concerts, eating, drinking, and education for young kids. This is a place for them to promote the dangers of industrial farming and to promote their food with integrity. 4. Fans and funny fan pictures

5. Cool things they do aka like valentines haiku etc. mobile app 6. Carol Messar, from Bloomberg news, also got to interview Mark Crumpack, the chief marketing officer of chipotle for the inside: chipotle documentary. He said and I quote “we don’t do the same kind of advertising that everyone else does, we are not a typical fast food company. We have all these other ways to tell our story” 1. Web series- farmed and dangerous a chipotle original series. It’s a comedy that looks at the insane world of industrial agriculture. It is a four part web series that just premiered and the marketing they have done is on the homepage of their website and also an email that announced its addition on hulu. There is also a SMS game that players can win prizes for. 2. One and only national TV ad that lets the farmers run free the movie went viral on the internet. It was trying to preach food with integrity and the emotions behind it. 3. Organic hoodies, tote bags 2. Their customer service with social media 1. In the Inside: Chipotle documentary series Monty Moran, Co-Ceo of Chipotle was interviewed about the customer satisfaction and service, it is a philosophy that Chipotle prides itself on. Monty explained what happens if the company gets customer feedback that is less than amazing Steve or Monty himself contact them right back whether its email, twitter, Facebook, or the phone to see what the company can do to be better and sometimes they even throw in compensated food. 3. Pizza, tofu and soap house Asian place and breakfast places in two airports 1. This is the new fast food model, and food could fit into it 2. In an effort to expand its customer base, they started selling tofu in their California stores to try it. 3. South East Asian eatery “Shophouse” – It is the same idea of being behind the counter and going through the motions of what goes in. its in bowls and its Asian inspired Thai curry flavors. DC AND HOLLYWOOD 4. Pizza 4. Chipotle restaurants are going green 1. They have the nations first Platinum LEED certified restaurant in Gurnee Illinois. And they are looking to certify all of their other restaurants under this high level energy technique 1. For example, rainwater is collected and then used for site maintenance 2. The concrete is a lighter color to reflect the sun and reduce a heat effect (Internal summary): Chipotle has really exciting things happening and they are shaping the future in terms of green trends and also marketing for companies. (Transition to conclusion): Chipotle has come a long way since the first one opened in 1993.

Conclusion I. Summarize (overall theme): Breaking all the rules, and creating a “fast casual” genre of food, Chipotle has a different way of doing things then everyone else. II. Review (each main point): The history of chipotle began with a mans dream of a fancy restaurant and a fascination of burrito shells. He took his dream and his goal to not be typical and created chipotle. With a modest loan from his father Steve Ells expanded Chipotle to what we know today, with meat from Iowa farms and food with integrity. If you recall for a little McDonald’s even owned Chipotle before they broke off and went public. Now Chipotle caters outside of the United States and has a lot of exciting things happening. Using their style of marketing their TV show just premiered and also they are in the works of expanding their other restaurant “Shophouse” and potentially even opening up another for pizza. III. Tie to the introduction: Steve Ells opened Chipotle as a way to generate cash for a nicer up scale restaurant but he has thankfully decided to stick with Chipotle. IV. Creative concluding thought (end with impact): So, now with a brain full of useful chipotle knowledge and a stomach empty and craving some food with integrity think back to that something you cant live without, it is definitely chipotle.

References Brian Derr "Chipotle Story- How It All Started." Youtube. Chipotle. 24 August 2011. Web. 11 February 2014. Ells, Steve. "Entrepreneur Steve Ells: Starting Chipotle From Scratch." Interview by Colleen Debaise. The Wall Street Journal. Dow Jones & Company, n.d. Web. 12 Feb. 2014. Forgrieve, Janet. "Feeding Frenzy." Rocky Mountain News. Scripps Newspaper Group, 27 Jan. 2006. Web. 13 Feb. 2014. Inside: Chipotle. Bloomberg Television. 2013. Satran, Joe. "Steve Ells, Chipotle Founder, Reflects On McDonald's, GMOs And The First 20 Years Of His Chain." The Huffington Post. TheHuffingtonPost.com, 12

July 2013. Web. 10 Feb. 2014....