Chipotle helped define the fast-casual category: food cooked from raw ingredients and assembled in front of the guest, at a price above fast food and a speed faster than table service. Founded in Denver in 1993 and headquartered in Newport Beach, California since 2018, the company had 4,056 restaurants in the U.S., Canada, the U.K., France, Germany and the Middle East at the end of 2025. Its 'Food with Integrity' sourcing standards, Chipotle Rewards loyalty program and Chipotlane drive-thru pickup lanes are the main pieces of its brand and operating model. The massive fast-casual pioneer was founded in Denver, Colorado in 1993, famously taking a massive early investment from McDonald's before violently breaking away to completely revolutionize the "food with integrity" movement.
Chipotle runs a company-operated model: it does not franchise in North America or Europe, so it books the full sales of each restaurant rather than royalties, and it carries the labor, food and occupancy costs itself. In 2025 food, beverage and packaging costs were 29.6% of revenue and labor was 25.1%, leaving a restaurant-level operating margin of 25.4%. A short menu built from a few dozen ingredients keeps the make-line fast, and a second digital make-line in most restaurants fulfills app, web and delivery orders, which were 36.7% of food and beverage revenue in 2025. Outside its core markets, Chipotle expands through partner-operated restaurants, such as its Middle East partnership with Alshaya Group, which numbered 14 at the end of 2025.