Advertisement

bruce-mars-558705-unsplash.jpg

Advertisement Headline

Curabitur vel gravida neque. Sed non imperdiet elit. Maecenas in pretium dolor, sit amet rutrum.

Weather data not found.
Error 400: bad query
Weather data not found.
Error 400: bad query

Here’s how much a Shake Shack burger is going to cost Canadians


Shake Shack will open its first Canadian location in Toronto's Yonge-Dundas square on June 11.

Shake Shack will open its first Canadian location in Toronto’s Yonge-Dundas square on June 13. (Yahoo Finance Canada)

Burger lovers across the country waiting for Shake Shack’s (SHAK) Canadian expansion are going to have to be patient. As the New York-based chain gears up to open its first restaurant in Canada this week, the company says it’s in no rush to quickly expand to new locations.

“We’re not in a rush,” Shake Shack’s president of global licensing Michael Kark said in an interview with Yahoo Finance Canada on Monday at Shake Shack’s soon-to-be-open location at Toronto’s Yonge and Dundas square. The restaurant is set to open at 11 a.m. ET on Thursday. Shake Shack plans on opening 35 locations in Canada by 2035.

“We’ll wait and see for sure,” Kark said. “We just want to deliver that amazing guest experience at Yonge-Dundas, and I think if we do that, we’ll have other opportunities within Ontario and in time we’ll look, of course, at other provinces as well… right now, we really are focused on making this one great.”

Shake Shack will open its first Canadian location in Toronto's Yonge-Dundas square on June 11. Shake Shack will open its first Canadian location in Toronto's Yonge-Dundas square on June 11.

Shake Shack’s Toronto location will feature some exclusive-to-Canada items, including a maple salted pretzel shake. (Yahoo Finance Canada) (Yahoo Finance Canada)

Shake Shack last month revealed its plan for its first location in Toronto. The restaurant will feature the burgers, flat-top hot dogs, crinkle-cut fries and milkshakes that Shake Shack is known for, as well as Canada-exclusive items such as maple salted pretzel shake and regional wines and beers.

A single-patty ShackBurger will cost $8.49, while a double will cost $12.49. Crinkle-cut fries are $4.49, cheese fries $5.99, and the Toronto-exclusive maple salted pretzel shake will set customers back $7.29. Shake Shack’s “concretes” – frozen custard desserts – will cost $6.49.

Kark says balancing pricing while selecting high-quality ingredients from local suppliers has been “one of the hardest parts” in preparing for the Canadian market launch.

“I think it’s part of why our supply chain team has been working on this so long. It’s about selecting great ingredients and making sure that we’re truly getting the best of the best from Ontario, and then secondly finding a way to be able to offer that at a price that everybody can afford,” Kark said.

“That takes a lot of balance and a lot of time. That’s certainly something that we are really mindful of as we come into Canada.”

Shake Shack first announced it was going to come to Canada in March 2023. That came more than five years after it launched a one-day pop-up restaurant in Toronto, where 1,000 burgers were sold out within a few hours. Kark says Canada has been the No. 1 requested country for Shake Shack expansion on social media over the last seven years.

Shake Shack is partnering with two Toronto-based private equity firms for the Canadian expansion, a model it has deployed in all 19 countries that it had opened locations in. Osmington, a private commercial real estate and investment company owned and controlled by David Thomson, and Harlo Entertainment, a division of Harlo Group that operates and invests in hospitality properties including several restaurants in Toronto, will be Shake Shack’s partner in Canada.

Shake Shack will open its first Canadian location in Toronto's Yonge-Dundas square on June 11. Shake Shack will open its first Canadian location in Toronto's Yonge-Dundas square on June 11.

The Toronto location will open on June 13. (Yahoo Finance Canada) (Yahoo Finance Canada)

While the expansion pace – 34 additional locations over the next decade – may seem conservative, Kark says it is in line with Shake Shack’s broader strategy. The chain is set to open 40 new locations in the U.S. this year, and 40 licensed restaurants globally, an increase of approximately 15 per cent.

Shake Shack will face competition in what has grown into a crowded market when it comes to burgers and fast food. But Kark says the chain’s offering will set it apart.

“We didn’t invent the cheeseburger and we certainly won’t be the last guys who do a great cheeseburger here in Toronto,” Kark said.

“But what separates Shake Shack from so many others is the ingredients… then being able to offer those at a price that hopefully everybody can afford.”

Alicja Siekierska is a senior reporter at Yahoo Finance Canada. Follow her on Twitter @alicjawithaj.

Download the Yahoo Finance app, available for Apple and Android.





Source link

Advertisement

bruce-mars-558705-unsplash.jpg

Advertisement Headline

Curabitur vel gravida neque. Sed non imperdiet elit. Maecenas in pretium dolor, sit amet rutrum.

Disclaimer

It’s about the importance of the case in our view, we may discuss the case with the respective client, and we may allow the respective lawyers to provide their opinion on argued cases. This is an important task. Both over and under-performance of the lawyers can lead to bad laws that will affect the entire society and those who come after them. We must be able to have a critical view of such important and consequential performances and roles in our society.