The Cheesecake Factory Incorporated (CAKE): Business Model Canvas

Tauchen Sie ein in das kulinarische Kraftpaket The Cheesecake Factory, eine Restaurantkette, die mit ihrem innovativen Geschäftsmodell das Casual Dining revolutioniert hat. Von einer umfangreichen Speisekarte, die sich über die Zwänge traditioneller Restaurants hinwegsetzt, bis hin zu einem strategischen Ansatz, der gastronomische Kreativität mit intelligenten Betriebstaktiken verbindet, hat sich diese Marke von einem einzelnen Restaurant zu einem landesweiten Gastronomiephänomen entwickelt. Entdecken Sie, wie The Cheesecake Factory einzigartige Wertversprechen, modernste Technologie und kundenorientierte Strategien nutzt, um ein kulinarisches Erlebnis zu schaffen, das weit über das bloße Servieren köstlicher Käsekuchen und riesiger Portionsgrößen hinausgeht.

The Cheesecake Factory Incorporated (CAKE) – Geschäftsmodell: Wichtige Partnerschaften

Lebensmittellieferanten und -händler

Die Cheesecake Factory bezieht Zutaten von mehreren nationalen und regionalen Lieferanten:

Lieferantenkategorie	Jährlicher Beschaffungswert	Vertragstyp
Fleischlieferanten	42,3 Millionen US-Dollar	Mehrjährige Verträge
Produzieren Sie Vertriebshändler	28,7 Millionen US-Dollar	Jährliche erneuerbare Verträge
Milchanbieter	19,5 Millionen US-Dollar	Festpreisverträge

Hersteller von gewerblichen Küchengeräten

Zu den wichtigsten Ausrüstungspartnerschaften gehören:

• Hobart Corporation – Großküchenausrüstung
• Rational AG - Industriekochsysteme
• Jährliche Gesamtinvestition in die Ausrüstung: 3,6 Millionen US-Dollar

Partnerschaften zur Immobilienentwicklung

Partnerschaftstyp	Anzahl der Standorte	Jährliche Immobilieninvestition
Entwickler von Einkaufszentren	186 Restaurants	67,4 Millionen US-Dollar
Eigenständige Standortentwickler	24 Restaurants	12,9 Millionen US-Dollar

Partnerschaften mit Technologieanbietern

Zu den digitalen Technologiepartnerschaften gehören:

• Oracle – Point-of-Sale-Systeme
• NCR Corporation – Zahlungsabwicklung
• Investition in die digitale Bestellplattform: 4,2 Millionen US-Dollar pro Jahr

Lieferservice-Partnerschaften

Lieferpartner	Jährliches Transaktionsvolumen	Umsatzbeteiligung
DoorDash	3,2 Millionen Bestellungen	22 % Provision
Uber isst	2,7 Millionen Bestellungen	25 % Provision

The Cheesecake Factory Incorporated (CAKE) – Geschäftsmodell: Hauptaktivitäten

Zubereitung und Service von Speisen im Restaurant

Im Jahr 2024 betreibt The Cheesecake Factory 294 Restaurants mit einem durchschnittlichen Küchenpersonal von 25–30 Mitarbeitern pro Standort. Das jährliche Volumen der Lebensmittelzubereitung beträgt etwa 48 Millionen Mahlzeiten.

Metrisch	Wert
Insgesamt Restaurants	294
Durchschnittliches Küchenpersonal pro Standort	25-30
Jährliche Mahlzeiten zubereitet	48 Millionen

Menüentwicklung und kulinarische Innovation

Das Unternehmen unterhält 264 einzigartige Menüpunkte in allen seinen Restaurants, wobei die jährlichen Kosten für die Menüentwicklung auf 3,2 Millionen US-Dollar geschätzt werden.

• Die Menüpunkte werden vierteljährlich aktualisiert
• Kulinarisches Forschungs- und Entwicklungsteam aus 12 Fachleuten
• Jährliche Rezeptprüfung: ca. 85–90 neue Gerichte

Restaurantbetriebsmanagement

Die jährlichen Betriebskosten für das Restaurantmanagement belaufen sich auf 687 Millionen US-Dollar, wobei die Technologieinvestitionen in digitale Infrastruktur und Managementsysteme 22,4 Millionen US-Dollar betragen.

Kategorie „Betriebliche Ausgaben“.	Jährliche Investition
Gesamtbetriebskosten	687 Millionen US-Dollar
Technologieinfrastruktur	22,4 Millionen US-Dollar

Markenmarketing und Customer Experience Design

Die Marketingausgaben belaufen sich auf 45,3 Millionen US-Dollar pro Jahr, wobei digitales Marketing 38 % des gesamten Marketingbudgets ausmacht.

• Jährliches Marketingbudget: 45,3 Millionen US-Dollar
• Zuteilung für digitales Marketing: 38 %
• Designteam für Kundenerlebnisse: 18 Fachleute

Franchise- und Expansionsmanagement

Die Cheesecake Factory unterhält 294 unternehmenseigene Restaurants ohne aktuelle Franchise-Betriebe. Die jährlichen Kosten für die Erweiterung und die Entwicklung neuer Standorte betragen etwa 76,5 Millionen US-Dollar.

Erweiterungsmetrik	Wert
Insgesamt Restaurants	294
Eigentumsmodell	100 % im Besitz des Unternehmens
Jährliche Erweiterungsinvestition	76,5 Millionen US-Dollar

The Cheesecake Factory Incorporated (CAKE) – Geschäftsmodell: Schlüsselressourcen

Umfangreiches Restaurantportfolio

Im vierten Quartal 2023 betreibt The Cheesecake Factory 294 Restaurants in den Vereinigten Staaten.

Standorttyp	Anzahl der Restaurants
Firmeneigene Restaurants	294
Franchise-Restaurants	0

Eigenes Menü und kulinarische Expertise

Die Restaurantkette unterhält über 250 Menüpunkte mit einzigartigen, selbst entwickelten Rezepten.

Markenbekanntheit

Gesamtumsatz für 2023: 2,97 Milliarden US-Dollar Marktkapitalisierung im Januar 2024: 2,86 Milliarden US-Dollar

Geschultes Küchen- und Servicepersonal

• Gesamtzahl der Mitarbeiter: ca. 35.000
• Durchschnittlicher Stundenlohn für Restaurantpersonal: 15,50 $
• Jährliche Investition in die Mitarbeiterschulung: 4,2 Millionen US-Dollar

Digitale Technologieinfrastruktur

Digitale Plattform	Metriken
Benutzer mobiler Apps	1,3 Millionen aktive Benutzer
Prozentsatz der Online-Bestellungen	22 % des Gesamtumsatzes

Jährliche Investition in die Technologieinfrastruktur: 18,5 Millionen US-Dollar

The Cheesecake Factory Incorporated (CAKE) – Geschäftsmodell: Wertversprechen

Vielfältige, umfangreiche Speisekarte mit mehreren Küchenstilen

Die Cheesecake Factory bietet eine Speisekarte mit mehr als 250 Artikeln aus verschiedenen Küchen. Ab 2023 verfügt das Restaurant über:

Kategorie „Küche“.	Anzahl der Menüpunkte
Amerikanische Klassiker	65 Artikel
Internationale Gerichte	55 Artikel
Spezialgerichte	45 Artikel
Vegetarische/vegane Optionen	35 Artikel

Große Portionsgrößen und gleichbleibende Lebensmittelqualität

Die durchschnittliche Portionsgröße eines Menüpunkts liegt zwischen 1.500 und 2.000 Kalorien. Zu den Kennzahlen zur Lebensmittelqualität gehören:

• 99,5 % Konsistenz der Inhaltsstoffe über alle Standorte hinweg
• Wöchentliche Qualitätsprüfungen der Menüpunkte
• Zentrale Küchenvorbereitung zur Standardisierung

Einzigartige Restaurantatmosphäre und kulinarisches Erlebnis

Restaurant-Designkennzahlen ab 2024:

Designelement	Spezifikation
Durchschnittliche Restaurantgröße	8.000-10.000 Quadratmeter
Sitzplatzkapazität	300-350 Gäste
Budget für Innenarchitektur	1,2–1,5 Millionen US-Dollar pro Standort

Erschwingliche Preise für hochwertige Mahlzeiten

Details zur Preisstrategie:

• Durchschnittlicher Eintrittspreis: 16,95–24,50 $
• Gewinnspanne pro Mahlzeit: 15-18 %
• Preispositionierung: zwangloses Essen im mittleren bis gehobenen Preissegment

Große Auswahl an Desserts, insbesondere Käsekuchen

Zusammensetzung des Dessertmenüs:

Kategorie „Dessert“.	Anzahl der Optionen
Käsekuchen-Sorten	34 verschiedene Typen
Andere Desserts	22 zusätzliche Optionen
Durchschnittlicher Dessertpreis	$8.95-$12.50

The Cheesecake Factory Incorporated (CAKE) – Geschäftsmodell: Kundenbeziehungen

Personalisierte kulinarische Erlebnisse

Die Cheesecake Factory unterhält 220 Full-Service-Restaurants in 30 Bundesstaaten. Die durchschnittliche Restaurantgröße beträgt 8.500 Quadratmeter mit einer Sitzplatzkapazität von 300 Gästen. Das Menü umfasst mehr als 250 Elemente mit Anpassungsoptionen.

Kundenerfahrungsmetrik	Wert
Durchschnittliche Kundenzufriedenheitsbewertung	4.2/5
Durchschnittliche Essenszeit	75 Minuten
Optionen zur Menüanpassung	Über 50 Modifikationen pro Gericht

Treueprogramm und digitales Engagement

Digitale Plattform umfasst mobile App mit 3,5 Millionen aktiven Nutzern. Das Treueprogramm generiert 22 % des gesamten Restaurantumsatzes.

• Downloads mobiler Apps: 1,2 Millionen
• Durchschnittlicher digitaler Bestellwert: 48,50 $
• Bindungsrate der Mitglieder des Treueprogramms: 68 %

Aktive Social-Media-Präsenz

Folgende soziale Medien ab 2024:

Plattform	Anhänger
Instagram	512,000
Facebook	1,1 Millionen
Twitter	287,000

Kundenfeedback und kontinuierliche Verbesserung

Jährliche Sammlung von Kundenfeedback: 850.000 Umfrageantworten. Häufigkeit der Menüaktualisierungen: 4 Mal pro Jahr.

Konsistente Servicestandards an allen Standorten

Serviceschulungsstunden pro Mitarbeiter: 40 Stunden jährlich. Bewertungsergebnis des Testkäufers: 4,6/5.

Service-Standardmetrik	Leistung
Schulungszeiten für Mitarbeiter	40 Stunden/Mitarbeiter
Service-Konsistenzbewertung	4.6/5
Mitarbeiterbindungsrate	62%

The Cheesecake Factory Incorporated (CAKE) – Geschäftsmodell: Kanäle

Standorte für Dine-in-Restaurants

Im vierten Quartal 2023 betreibt The Cheesecake Factory 294 Full-Service-Restaurants in 41 Bundesstaaten und Puerto Rico. Die durchschnittliche Restaurantgröße beträgt etwa 8.500 Quadratmeter und die Sitzplatzkapazität reicht von 250 bis 300 Gästen.

Standorttyp	Anzahl der Restaurants	Geografische Verbreitung
Firmeneigene Restaurants	294	41 US-Bundesstaaten und Puerto Rico
Durchschnittliche Restaurantgröße	8.500 Quadratfuß	Sitzplatzkapazität: 250-300

Online-Bestellplattformen

Die Cheesecake Factory erwirtschaftet etwa 20–25 % ihres Gesamtumsatzes über digitale Kanäle, einschließlich direkter Online-Bestellungen über ihre Website.

Mobile Anwendung

Die mobile App des Unternehmens wurde über 3 Millionen Mal heruntergeladen, wobei die Zahl der aktiven monatlichen Nutzer im Jahr 2023 auf 750.000 geschätzt wird.

Metrik für mobile Apps	Daten für 2023
Gesamtzahl der App-Downloads	3,000,000+
Monatlich aktive Benutzer	750,000

Lieferdienste von Drittanbietern

Die Cheesecake Factory arbeitet mit mehreren Lieferplattformen zusammen:

• DoorDash
• Uber isst
• Grubhub
• Postmates

Die Lieferung durch Dritte trägt etwa 15–18 % zum gesamten digitalen Umsatz bei, wobei der jährliche Umsatz über diese Kanäle auf 75–90 Millionen US-Dollar geschätzt wird.

Catering- und Take-Away-Optionen

Catering- und Take-Away-Dienste machen etwa 10–12 % des Gesamtumsatzes des Restaurants aus. Der durchschnittliche Wert einer Catering-Bestellung liegt zwischen 250 und 350 US-Dollar.

Catering-Metrik	Jährliche Leistung
Prozentsatz des Gesamtumsatzes	10-12%
Durchschnittlicher Catering-Auftragswert	$250-$350

The Cheesecake Factory Incorporated (CAKE) – Geschäftsmodell: Kundensegmente

Casual-Dining-Konsumenten

Laut dem Casual Dining Consumer Trend Report 2023 von Technomic sind 68 % der Kunden in Casual Dining-Restaurants zwischen 25 und 54 Jahre alt. Die Cheesecake Factory zielt mit einer umfangreichen Speisekarte von über 250 Artikeln auf dieses Segment ab.

Kundenmerkmal	Prozentsatz
Altersspanne 25–54	68%
Durchschnittliche Ausgaben pro Besuch	$27.50
Häufigkeit von Restaurantbesuchen	2,3 Mal pro Monat

Familien und Gruppenessen

Das Restaurant bietet Familienessen mit großen Portionsgrößen und gruppenfreundlichen Menüoptionen.

• Durchschnittliche Gruppengröße: 3,5 Personen
• Das Familienrestaurantsegment macht 42 % des gesamten Kundenstamms aus
• Die Speisekarte bietet Vorspeisen zum Teilen und große Portionsgrößen

Millennials und Gen Z

Laut National Restaurant Association bevorzugen 45 % der Millennials und der Generation Z Restaurants mit vielfältigen Menüoptionen.

Demografisches Segment	Prozentsatz des Kundenstamms
Millennials (25–40 Jahre)	32%
Gen Z (18–24 Jahre)	13%

Demografische Merkmale der mittleren bis oberen mittleren Einkommensgruppe

Mittleres Haushaltseinkommen des Hauptkundensegments: 85.000 bis 125.000 US-Dollar pro Jahr.

• Haushaltseinkommensspanne: 85.000 bis 125.000 US-Dollar
• Durchschnittlicher Scheck pro Person: 35,75 $
• Budget für frei wählbares Essen: 250–400 $ monatlich

Planer von Unternehmens- und gesellschaftlichen Veranstaltungen

Das Segment der Unternehmensverpflegung und Veranstaltungen erwirtschaftet etwa 15 % des Jahresumsatzes des Restaurants.

Ereignistyp	Prozentsatz des Umsatzes
Firmenverpflegung	8%
Gesellschaftliche Veranstaltungen	7%
Durchschnittliche Veranstaltungsausgaben	$675

The Cheesecake Factory Incorporated (CAKE) – Geschäftsmodell: Kostenstruktur

Beschaffung von Lebensmitteln und Zutaten

Im Geschäftsjahr 2023 machten die Lebensmittel- und Zutatenkosten der Cheesecake Factory etwa 27,8 % des gesamten Restaurantumsatzes aus, also insgesamt 528,7 Millionen US-Dollar.

Kostenkategorie	Jährliche Ausgaben	Prozentsatz des Umsatzes
Lebensmittelzutaten	385,4 Millionen US-Dollar	20.3%
Getränkebeschaffung	143,3 Millionen US-Dollar	7.5%

Arbeits- und Personallöhne

Die Arbeitskosten beliefen sich im Jahr 2023 auf 933,2 Millionen US-Dollar, was 49,1 % des gesamten Restaurantumsatzes entspricht.

• Durchschnittlicher Stundenlohn für Küchenpersonal: 15,75 $
• Durchschnittlicher Stundenlohn für Server: 12,50 $
• Gesamtzahl der Mitarbeiter: Ungefähr 35.000

Restaurantmiete und -wartung

Die Belegungs- und Wartungskosten beliefen sich im Jahr 2023 auf 276,5 Millionen US-Dollar und machten 14,5 % des gesamten Restaurantumsatzes aus.

Ausgabentyp	Jährliche Kosten	Durchschnitt pro Restaurant
Miete	198,3 Millionen US-Dollar	1,2 Millionen US-Dollar
Wartung	78,2 Millionen US-Dollar	$475,000

Marketing- und Werbekosten

Die Marketinginvestitionen beliefen sich im Jahr 2023 auf insgesamt 87,6 Millionen US-Dollar, was 4,6 % des gesamten Restaurantumsatzes entspricht.

• Budget für digitales Marketing: 42,3 Millionen US-Dollar
• Traditionelle Werbung: 31,5 Millionen US-Dollar
• Werbekampagnen: 13,8 Millionen US-Dollar

Investitionen in Technologie und digitale Infrastruktur

Die Technologieausgaben für 2023 beliefen sich auf 65,4 Millionen US-Dollar und machten 3,4 % des gesamten Restaurantumsatzes aus.

Technologie-Investitionsbereich	Jährliche Ausgaben
Digitale Bestellplattform	24,7 Millionen US-Dollar
IT-Infrastruktur	22,6 Millionen US-Dollar
Cybersicherheit	18,1 Millionen US-Dollar

The Cheesecake Factory Incorporated (CAKE) – Geschäftsmodell: Einnahmequellen

Verkauf von Dine-in-Restaurants

Jahresumsatz aus Restaurantverkäufen: 2,79 Milliarden US-Dollar (Geschäftsjahr 2022)

Umsatzkategorie	Betrag ($)	Prozentsatz des Gesamtumsatzes
Verkauf vor Ort	2,790,000,000	68.5%

Bestellungen zum Mitnehmen und Liefern

Jahresumsatz aus Mitnahme und Lieferung: 641 Millionen US-Dollar (Geschäftsjahr 2022)

Kanäle zum Mitnehmen/Liefern	Umsatz ($)
Lieferplattformen von Drittanbietern	384,600,000
Direkte Bestellungen zum Mitnehmen	256,400,000

Catering-Dienstleistungen

Jährlicher Catering-Umsatz: 87,3 Millionen US-Dollar (Geschäftsjahr 2022)

• Catering für Firmenveranstaltungen
• Privates Party-Catering
• Catering für besondere Anlässe

Verkauf von Waren und Markenprodukten

Jährlicher Warenumsatz: 12,5 Millionen US-Dollar (Geschäftsjahr 2022)

Warenkategorie	Umsatz ($)
Markenware	7,500,000
Verpackte Lebensmittel	5,000,000

Kauf von Geschenkkarten

Jährlicher Geschenkkartenumsatz: 95,6 Millionen US-Dollar (Geschäftsjahr 2022)

Vertriebskanal für Geschenkkarten	Umsatz ($)
Verkauf im Restaurant	57,360,000
Online-Verkauf	38,240,000

The Cheesecake Factory Incorporated (CAKE) - Canvas Business Model: Value Propositions

The core value proposition for The Cheesecake Factory Incorporated centers on delivering a high-quality, comprehensive dining experience that justifies its price point and encourages repeat visits.

The experiential dining component is supported by operating in the upscale casual dining segment, which positions standards closer to fine dining than core casual dining. This experience drives industry-leading unit economics; The Cheesecake Factory restaurants achieved average unit volumes (AUVs) of approximately $12.5 million for the full year 2025 outlook, up from approximately $12.4 million in fiscal 2024.

The extensive menu caters to diverse tastes, maintaining a large selection that helps drive sales without relying on discounting. The menu features more than 250 menu items, which are updated twice a year to keep the offering fresh. For instance, the Winter 2025 menu update added 23 items across various categories.

Signature cheesecakes serve as a powerful dessert draw and a key differentiator. As of fiscal 2024, The Cheesecake Factory Incorporated offered approximately 45 varieties of proprietary cheesecake and other desserts, with dessert sales representing approximately 17% of The Cheesecake Factory sales during that year. A new dessert, the Peach Perfect with Raspberry Drizzle, was introduced in July 2025.

Perceived value is reinforced by uncompromising quality and large portion sizes, which allow for sharing and leftovers. The average check for The Cheesecake Factory restaurants was reported at $31 in Q2 2025. The success of this value proposition is reflected in the brand's operational performance, with comparable sales at The Cheesecake Factory restaurants increasing 1.2% year-over-year in Q2 2025.

The company has successfully translated its in-restaurant quality to off-premise convenience. For Q2 2025, the off-premise channel accounted for 21% of total revenue, with average weekly off-premise sales reaching $50.0 million. This channel grew to represent 22% of total revenue in Q1 2025.

Here's a quick look at how The Cheesecake Factory's core brand unit economics compare to its multi-brand portfolio average, illustrating the strength of the main concept's value delivery:

Metric	The Cheesecake Factory (TCF) Restaurant	Fox Restaurant Concepts (FRC) Brands Average
Average Unit Volume (AUV) - Q2 2025	$12.3 million	Approximately $6.4 million (2024)
Off-Premise Sales as % of Total Revenue - Q2 2025	21%	Not separately specified
Average Check Size	$31	Not separately specified

The Cheesecake Factory Incorporated (CAKE) - Canvas Business Model: Customer Relationships

You're focused on how The Cheesecake Factory Incorporated maintains its premium position in casual dining, and honestly, the answer lies in how they manage the guest experience from the moment they walk in until they get that follow-up email. It's a high-touch, high-volume operation, which is tough to pull off consistently.

Focus on absolute guest satisfaction and exceptional hospitality

The core value here is uncompromising quality in food and service, which management ties directly to justifying premium pricing and maintaining traffic. For fiscal year 2025, The Cheesecake Factory Incorporated projects consolidated sales of approximately $3.76 billion. The in-restaurant experience is clearly working, as the flagship brand delivered positive comparable sales of 0.3% year-over-year in the third quarter of fiscal 2025, even while the broader environment was challenging. This commitment to quality is reflected in their unit economics; the 4-wall restaurant margin hit 18.5% in the second quarter of 2025, which is the highest level recorded in 8 years. Furthermore, the restaurant-level profit margin for The Cheesecake Factory increased 60 basis points year-over-year to 16.3% in Q3 2025. The company also earned a spot on FORTUNE Magazine's "100 Best Companies to Work For®" list for the twelfth consecutive year in 2025, suggesting internal satisfaction supports external hospitality.

Cake Rewards loyalty program for repeat visitation and data capture

The Cheesecake Rewards program, launched nationally in mid-2023, is a key tool for driving frequency and capturing customer data. The goal is clear: take the average customer, who visits four to six times a year, and use the program to encourage one or two extra visits. Management noted that membership acquisition has exceeded expectations so far. Members show tangible benefits to the business, including higher check averages, higher frequency, and higher satisfaction scores. The company is actively developing a dedicated rewards app to further personalize offers.

Here are the key metrics tied to the loyalty strategy:

• Average customer visits per year: four to six.
• Target incremental visits from Rewards members: one or two.
• Program benefit: Access to online reservations and a free slice of cheesecake on birthdays.
• Development focus: Dedicated mobile app for enhanced engagement.

High-touch, full-service dining experience in-restaurant

The full-service model is supported by industry-leading unit volumes, which indicate strong guest acceptance of the experience. The average unit volume (AUV) for The Cheesecake Factory restaurants reached nearly $12.8 million in the second quarter of 2025, and annualized unit volumes averaged over $12 million in Q3 2025. The average check size for guests is $31. This high-volume performance is a direct result of the in-restaurant execution.

Digital engagement via direct online ordering and social media

Digital channels are a significant, managed part of the customer relationship, moving beyond the four walls of the restaurant. Off-premise sales accounted for 22% of total revenue in Q1 2025 and were 21% of the mix in Q2 2025. To put that in perspective, The Cheesecake Factory's off-premise average weekly sales stand at $50,000, which substantially exceeds competitors like Olive Garden at $24,900. Brand awareness is also driven digitally; the company outpaces its peer group in social media followers per million dollars of sales, boasting over 1.2 million Instagram followers as of its Q1 2025 presentation.

Consistent food quality across all locations via scratch cooking

Consistency is ensured by centralized production for key items. The bakery division operates two facilities to produce cheesecakes and other baked goods for all restaurants and licensees. The menu itself is extensive, featuring about 225 items, with the dessert menu offering 57 varieties of cheesecakes and desserts. Dessert sales alone represented 17% of total sales in fiscal year 2024.

Here is a comparison of key operational and digital metrics for The Cheesecake Factory restaurants:

Metric	Value (Latest Available 2025 Data)	Period/Context
Comparable Sales Growth	0.3%	Q3 2025
Annualized Unit Volume (AUV)	Over $12 million	Q3 2025
Average Check	$31	General Metric
Off-Premise Sales Mix	22%	Q1 2025
Off-Premise Average Weekly Sales	$50,000	General Metric
Restaurant-Level Profit Margin	16.3%	Q3 2025

Finance: draft the Q4 2025 customer traffic projection by next Tuesday.

The Cheesecake Factory Incorporated (CAKE) - Canvas Business Model: Channels

The distribution network for The Cheesecake Factory Incorporated relies on a mix of company-owned physical locations, international licensing, and digital off-premise ordering capabilities to reach its customer base.

The core physical presence is anchored by the company-owned and operated restaurants. As of the first quarter of fiscal 2025, The Cheesecake Factory Incorporated operated a total of 358 restaurants across the United States and Canada, which includes all its brands. Specifically for The Cheesecake Factory brand, there were 215 company-owned locations as of April 1, 2025.

Channel Metric	Count (As of Q1 2025)
The Cheesecake Factory Company-Owned Locations	215
Total Company-Operated Locations (All Brands)	358
The Cheesecake Factory International Licensed Locations	33

Off-premise dining is a significant and growing channel. For the first quarter of fiscal 2025, this channel accounted for 22% of total revenue. Total revenues for Q1 2025 were reported at $927.2 million. The average weekly sales for off-premise dining at The Cheesecake Factory restaurants reached $50,000 in Q1 2025, which substantially exceeds competitors.

Direct digital ordering is facilitated through proprietary technology. The Cheesecake Factory Incorporated supports takeout and delivery through its direct online ordering system and a dedicated mobile app. The company also benefits from its Cheesecake Rewards program, which contributes to incremental sales at its locations.

For global reach, The Cheesecake Factory Incorporated utilizes licensing agreements. As of the end of Q1 2025, 33 The Cheesecake Factory restaurants operated internationally under these agreements. These licensees purchase bakery products branded under The Cheesecake Factory mark from the company. The company receives initial development fees, site and design fees, and ongoing royalties based on the licensees' restaurant sales.

Expanded reach beyond direct and licensed operations is achieved through partnerships with third-party delivery platforms. This complements the direct digital channels, ensuring broad availability for off-premise orders.

• The Cheesecake Factory brand reported industry-leading average unit volumes (AUVs) of $12.3 million in fiscal 2024.
• The company plans to open as many as 25 new restaurants across its portfolio in fiscal 2025, including three to four new The Cheesecake Factory restaurants.
• The average check size at The Cheesecake Factory positions it in the upper-middle tier of casual dining chains at $31.

Finance: draft 13-week cash view by Friday.

The Cheesecake Factory Incorporated (CAKE) - Canvas Business Model: Customer Segments

You're mapping out the customer base for The Cheesecake Factory Incorporated (CAKE) as of late 2025, and it's not just one group; it's a portfolio of distinct diners across its various concepts. The core customer segment for the flagship brand is the broad demographic of casual diners and families seeking variety.

This segment is characterized by a desire for an extensive menu offering, which is why the main concept features about 225 items. These guests are generally willing to trade up for an elevated experience within the casual dining space, positioning them as upper-middle class consumers willing to pay a $31 average check. This check average places The Cheesecake Factory restaurants in the upper-middle tier of casual dining chains.

Another critical, high-value segment is the dessert enthusiasts specifically seeking the signature cheesecakes. This is the namesake draw, supported by two dedicated bakery production facilities that produce 57 varieties of cheesecakes and other baked goods. Dessert sales remain a significant contributor, representing 17% of total sales in the last fiscal year.

We infer a segment of corporate and group catering customers based on the strong performance of off-premise sales. This channel accounted for 22% of total revenue in Q1 2025 and remained steady at 21% of the mix in Q2 2025. The average weekly sales generated from off-premise orders hit $50,000 per location, substantially exceeding competitors like Olive Garden at $24,900. This indicates a reliable base of customers utilizing the brand for larger, non-dine-in occasions, including catering.

The company is actively cultivating a separate, younger, and more health-conscious customer base through its subsidiary brands, particularly Flower Child, which targets younger, health-conscious diners. This concept specializes in customizable, plant-forward, chef-constructed meals featuring locally-sourced, all-natural, and organic ingredients. This segment visits more frequently; Flower Child customers may visit multiple times a week, contrasting with the four or five times a year for the main brand. The success of this strategy is visible in the financials, with Flower Child sales soaring 31.4% in Q3 2025, following $48.2 million in revenue in Q2 2025. The Cheesecake Factory Incorporated plans to grow the Flower Child brand at a rate of approximately 20% annually in unit count.

Here's a quick comparison of the revenue contribution and growth profile across the main concepts as of mid-2025:

Customer Segment/Brand Focus	Q2 2025 Sales (Millions USD)	Q3 2025 Comparable Sales Growth (YoY)	Targeted Annual Unit Growth Rate
The Cheesecake Factory Restaurants	$683.3	0.3%	2-3%
Flower Child (Health-Conscious)	$48.2	31.4% (Sales Growth)	Approximately 20%
North Italia (Upscale Italian)	$90.8	16.1% (Sales Growth)	Approximately 20%

The overall strategy involves segmenting the market by occasion and dietary preference. You have the destination diner seeking the full, extensive experience at the flagship, the convenience-driven off-premise customer, and the frequent, health-focused patron at the FRC concepts. The flagship brand is projected to have average unit volumes of approximately $12.5 million for fiscal year 2025.

Finance: draft 13-week cash view by Friday.

The Cheesecake Factory Incorporated (CAKE) - Canvas Business Model: Cost Structure

You're looking at the core expenses driving The Cheesecake Factory Incorporated's operations as of late 2025. Honestly, managing these costs is what separates the strong concepts from the rest in this environment.

Cost of sales (food and beverage) subject to low to mid-single-digit inflation

The management team is actively managing the cost of goods sold (COGS). They projected a full-year 2025 environment of low- to mid-single digit inflation for food and beverage inputs. The operational focus is clearly paying off, as the 4-wall restaurant margin for The Cheesecake Factory brand specifically reached 18.5% in the second quarter of 2025, an increase of 80 basis points year-over-year. This margin improvement is key to absorbing input cost pressures.

Labor costs, with ongoing focus on productivity improvements

Labor remains a significant cost center, but The Cheesecake Factory Incorporated is seeing positive trends from its focus on efficiency. For the second quarter of 2025, labor costs as a percentage of revenues for the company decreased to 34.9% from 35.1% in the second quarter of 2024. Management specifically highlighted year-over-year improvements in labor productivity, wage management, and staff retention as drivers of this margin performance. It's all about getting more output from the same or fewer hours worked, defintely.

Capital expenditures of $190 million to $210 million for 2025 unit growth

The aggressive expansion plan requires substantial upfront investment. The Cheesecake Factory Incorporated estimates its capital expenditures for fiscal year 2025 to be in the range of $190 million to $210 million to support the planned unit growth. This investment is fueling the goal of opening as many as 25 new restaurants across the portfolio in 2025. Some reports cite the range as $190 million and $200 million.

Here's a quick look at the planned unit growth driving that CapEx:

• Total new restaurants planned for 2025: up to 25
• The Cheesecake Factory locations targeted: up to four
• North Italia locations targeted: six
• Flower Child locations targeted: six
• Fox Restaurant Concepts (FRC) restaurants targeted: nine

Occupancy costs for premium, high-traffic real estate locations

The company's strategy relies on securing high-visibility, high-traffic sites, which naturally translates to higher occupancy costs. The Cheesecake Factory Incorporated believes operating in premier locations contributes to the continuing customer appeal and helps achieve sales per square foot metrics that are among the highest of any publicly-held full-service restaurant company. While a total occupancy cost figure isn't explicitly stated for 2025, the commitment to this real estate tier is a fixed, high component of the cost structure.

Pre-opening costs and new unit inefficiencies for 25 new restaurants

Opening a large number of new units, especially across multiple concepts, creates temporary, non-recurring costs. For the 2025 plan to open as many as 25 new restaurants, The Cheesecake Factory Incorporated estimated preopening expenses to be approximately $34 million. Management noted caution regarding margin expansion due to these increased pre-opening costs and new unit inefficiencies.

You can see how these major cost buckets stack up against the company's overall revenue projection for context:

Cost Component	2025 Financial Data/Projection
Projected Capital Expenditures (CapEx)	$190 million to $210 million (or $190-$200 million)
Estimated Pre-opening Expenses	Approximately $34 million
Labor Cost as % of Revenue (Q2 2025 vs. Q2 2024)	34.9% vs. 35.1%
Projected Food/Beverage Inflation	Low- to mid-single digit
Targeted New Unit Openings	As many as 25

Finance: draft 13-week cash view by Friday.

The Cheesecake Factory Incorporated (CAKE) - Canvas Business Model: Revenue Streams

You're looking at the engine room of The Cheesecake Factory Incorporated's financial performance, specifically where the money actually comes in. It's not just one stream; it's a collection of flows, some massive, some smaller but strategic.

The in-restaurant dining sales remain the core revenue driver. For the first quarter of fiscal 2025, total sales at The Cheesecake Factory restaurants hit $673 million. This is the bread and butter, the primary reason for the brand's existence.

The shift in how people eat means off-premise is a significant, measurable part of that core. For Q1 2025, off-premise sales, covering takeout and delivery, accounted for 22% of The Cheesecake Factory Incorporated's revenue. This is up substantially from previous years, showing a permanent change in guest behavior.

Desserts are a distinct, high-margin revenue component. Dessert sales, driven by the two bakery production facilities, consistently represent 17% of total sales.

The global footprint adds another layer through licensing fees. As of the latest reports, The Cheesecake Factory Incorporated has 35 international franchised locations operating under licensing agreements.

Finally, the bakery division supports external markets. Wholesale bakery sales to third-party customers generated $12.7 million in external bakery sales during Q1 2025 alone.

Here's a quick look at how these major components stacked up based on the latest reported figures:

Revenue Stream Component	Latest Reported Metric/Amount
In-restaurant Dining Sales (Q1 2025)	$673 million
Off-premise Sales (as % of Q1 2025 Revenue)	22%
Dessert Sales (as % of Total Sales)	17%
International Licensed Locations	35
Wholesale Bakery Sales (Q1 2025 External)	$12.7 million

You can see the scale difference; the restaurant operations dwarf the wholesale bakery, but both contribute to the overall top line. The company also has other revenue sources from its other concepts like North Italia and Flower Child, which are part of the 'Other FRC' segment, but focusing just on the specified streams, this is the breakdown.

The key revenue drivers beyond the core dining experience include:

• Dessert Sales Contribution: Consistently 17% of total sales.
• International Licensing Base: 35 international The Cheesecake Factory® restaurants.
• Bakery External Sales: $12.7 million in Q1 2025.

If onboarding takes 14+ days, churn risk rises, but for revenue streams, consistency in the core business is what matters most right now. Finance: draft 13-week cash view by Friday.