Listen Now: In-N-Out Expansion? The Company’s 36-Year-Old Owner Weighs In
The 36-year-old billionaire owner of In-N-Out says business tastes way too good to sell.
In 2017, Lynsi Snyder took full control of her majority stake in the burger chain. Her grandparents founded In-N-Out in 1948 and the business has remained in the family, refusing to go public, sell or franchise.
And that’s a tradition Snyder, who is worth an estimated three billion dollars, will stick with. She considers herself the new guardian of a family company with very strict ideas.
She says with In-N-Out in only six states it makes them more sought after. When people come to town, they want the experience of eating there. Snyder says if you put a restaurant on every corner the company could lose some of its luster.
In addition, there are no plans to expand the simple and easy to memorize menu or for that matter the secret menu. Snyder says they will continue making the same burger and the same french fry, sticking to their recipe and their high standards.
And it’s a recipe customers are more than happy to buy into.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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