Chipotle - additional information
Chipotle is a fast casual Mexican restaurant chain founded by Steve Ells in 1993. The first Chipotle restaurant was opened in Denver, Colorado. As of December 2017, the state had 76 Chipotle locations. Despite this being the headquarters for the restaurant chain, Colorado is dwarfed by other U.S. regions. The state with the largest number of Chipotle restaurant locations was California with 408 restaurants.
The total number of Chipotle locations worldwide has been growing annually, increasing to 2,408 in 2017. These numbers seem likely to grow as Chipotle continues to expand its number of international locations. As of 2016, the restaurant chain has units in Germany, the United Kingdom, France and Canada.
As the number of Chipotle locations in the U.S. and worldwide have increased, so have other financial indicators of the fast casual company. In previous years, the total assets of Chipotle Mexican Grill increased year-on-year, but this dropped to 2.05 billion U.S. dollars in 2017. The worldwide revenue of Chipotle also increased year-on-year, with the exception of the year 2016, but dropped to 4.48 billion U.S. dollars in 2017. One business metric which has not had such steady growth is the average restaurant sales which amounted to 1.94 million U.S. dollars in 2017.