Exclusive: In-N-Out Billionaire Lynsi Snyder Opens Up About Her Troubled Past And The Burger Chain's Future

In-In-Out Lynsi Snyder - By Ethan Pines
Lynsi Snyder – By ETHAN PINES

1. But Snyder, who at 36 debuts on this year’s Forbes 400 as its youngest woman, with a net worth of $3 billion, fiercely embraces an imperviousness to change. “It’s not [about] adding new products. Or thinking of the next bacon-wrapped this or that. We’re making the same burger, the same fry,” says Snyder, wearing black lace-up combat boots and stacks of silver bracelets on both arms. “We’re really picky and strategic. We’re not going to compromise.”
2. That loyalty is lucrative. An In-N-Out store outsells a typical McDonald’s nearly twice over, bringing in an estimated $4.5 million in gross annual sales versus McDonald’s $2.6 million. (In-N-Out, which is private, won’t comment on its financials.) In-N-Out’s profit margin (measured by earnings before interest, taxes, depreciation and amortization) is an estimated 20%. That’s higher than In-N-Out’s East Coast rival Shake Shack (16%) and other restaurant chains that typically own their locations, like Chipotle (10.5%). Revenue should surpass $1 billion this year, roughly doubling in eight years, and the business is debt-free, according to the company. In-N-Out is conservatively worth $3 billion, and Snyder now owns virtually all of it after receiving chunks on her 25th, 30th and 35th birthdays (she got the last slice in 2017).
3. During Guy’s six years as chairman, In-N-Out grew to 140 stores, with over $200 million in revenue. Yet he struggled personally. On Christmas Day 1995 he was arrested for public intoxication and illegally carrying a loaded firearm, which he had along with a switchblade knife and marijuana. Over the next few years he survived a drug-related heart attack and three drug overdoses before dying of heart failure (with hydrocodone in his system) in December 1999, at age 48.
Read much more at….

Exclusive: In-N-Out Billionaire Lynsi Snyder Opens Up About Her Troubled Past And The Burger Chain’s Future

Do you like our articles? What do you want to see or read about the wealthy?