Organic Fast Food Chain Scores Big Investment
June 3, 2016 Leave a comment
Two former Costco execs are attempting a very different model of fast food restaurant. Called The Organic Coup, they only have one option so far, which is fried chicken that comes with popcorn. That chicken is certified organic and fried in coconut oil, and the organic popcorn is covered in caramel and drizzled with chocolate. That’s it. There are a variety of sauces to choose, and you can go with a bun, a wrap, or a bowl for the chicken, which costs $9.99. that’s kind of pricey for fast food, but compared to the $4 chicken sandwiches at most other fast food chains, the owners are expecting that people will pay for the quality difference.
And they seem to be, which is good considering they’re also paying their employees much more than the average fast food worker gets, between $14 and $16 an hour. They’re building on the Costco model of paying a living wage and being as efficient as possible. And, they just landed $7 million in financing which will allow them to open two dozen more locations next year.
Neither of the founders, Erica Welton or Dennis Hoover, have restaurant experience, but they’re both Costco veterans, which explains their business model. Welton was a food buyer for the bulk chain, and Hoover ran 53 of the companies warehouses, and helped turn Costco into the largest organic food seller in the world.
That experience seems to be paying off. The Organic Coup is the first fast-food chain in the country to be USDA-certified organic, which is sure to raise some eyebrows among potential customers who are concerned about where their food is sourced. The two sores so far are in San Francisco and Pleasanton, California, so the former at least has some pretty steep overhead. Things seem to be going well though, and depending on when and where they open their other locations, we should expect to hear good things about the company.