Chipotle Mexican Grill, Inc. (CMG): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Mergulhe na revolução culinária da Chipotle Mexican Grill, uma potência gastronômica rápida que transformou a maneira como os americanos experimentam cozinha inspirada no mexicano. Com um modelo de negócios nítido que combina tecnologia inovadora, fornecimento sustentável e experiências centradas no cliente, a Chipotle criou um espaço único na indústria de restaurantes competitivos. Do seu compromisso com ingredientes frescos e de origem com responsabilidade de suas plataformas de pedidos digitais de ponta, essa marca redefiniu refeições rápidas casuais para uma nova geração de entusiastas de alimentos que desejam qualidade, transparência e conveniência.

Chipotle Mexican Grill, Inc. (CMG) - Modelo de negócios: Parcerias -chave

Fornecedores agrícolas para produtos frescos e carne

A partir de 2024, a Chipotle mantém parcerias com vários fornecedores agrícolas:

Categoria de fornecedores	Volume anual	Regiões de fornecimento
Fornecedores de carne bovina	37 milhões de libras anualmente	Estados Unidos, Austrália
Fornecedores de frango	28 milhões de libras por ano	Estados Unidos
Produzir fornecedores	US $ 250 milhões em compras anuais	Califórnia, México, América do Sul

Agricultores locais e provedores de alimentos sustentáveis

A estratégia de fornecimento sustentável da Chipotle inclui:

• Aproximadamente 55% dos produtos provenientes de fazendas locais
• Mais de 40 parcerias agrícolas locais em toda a América do Norte
• US $ 30 milhões investidos em programas de agricultura sustentável

Parceiros de tecnologia para plataformas de pedidos digitais

Parceiro de tecnologia	Tipo de serviço	Porcentagem de pedidos digitais
Olo	Infraestrutura de pedidos digitais	62% das vendas digitais
Shopify	Integração de comércio eletrônico	17% das transações digitais

Provedores de serviços de entrega

Detalhes da parceria de entrega:

• DOORDASH: 45% do volume de entrega de terceiros
• Uber Eats: 35% do volume de entrega de terceiros
• GrubHub: 20% do volume de entrega de terceiros
• Vendas totais de entrega: US $ 1,2 bilhão em 2023

Agências de marketing e publicidade

Agência	Serviços	Orçamento anual de marketing
Venables Bell & Parceiros	Desenvolvimento de campanhas da marca	US $ 45 milhões
Grupo Interpublic	Estratégias de marketing digital	US $ 28 milhões

Chipotle Mexican Grill, Inc. (CMG) - Modelo de negócios: Atividades -chave

Preparação de alimentos e operações de cozinha

A Chipotle opera 3.187 restaurantes a partir do quarto trimestre 2023, com processos diários de preparação de alimentos focados em refeições frescas e feitas sob encomenda. O tempo médio de preparação do restaurante é de aproximadamente 3-4 minutos por pedido.

Métrica	Valor
Total de restaurantes	3,187
Tempo de preparação diária	3-4 minutos
Transações diárias médias	350-400 por restaurante

Inovação de menu e desenvolvimento de receitas

Em 2023, a Chipotle investiu US $ 12,5 milhões em pesquisa e desenvolvimento para inovação de menus. As principais áreas de foco incluem:

• Alternativas de proteínas à base de plantas
• Modificações de menu sazonal
• Opções de personalização

Pedidos digitais e gerenciamento de experiência do cliente

As vendas digitais representaram 37,4% da receita total no quarto trimestre de 2023, totalizando US $ 869,2 milhões. Os downloads de aplicativos móveis excederam 29 milhões de usuários ativos.

Métrica de desempenho digital	2023 valor
Porcentagem de vendas digital	37.4%
Receita digital	US $ 869,2 milhões
Usuários ativos de aplicativos móveis	29 milhões

Gerenciamento da cadeia de suprimentos e controle de qualidade

A Chipotle mantém padrões rígidos de fornecimento, trabalhando com mais de 50 agricultores e fornecedores locais. O orçamento anual de compra de alimentos excede US $ 750 milhões.

• Fornecimento de ingredientes locais
• Compromisso de produção orgânica
• Padrões de bem -estar animal

Expansão de restaurantes e desenvolvimento de franquias

A meta de expansão de restaurantes planejada de 7-9% ao ano. A contagem total de restaurantes aumentou 235 locais em 2023, com o crescimento projetado de 2024 de 250-300 novos restaurantes.

Métrica de expansão	2023-2024 Valor
Taxa de crescimento anual	7-9%
Novos restaurantes em 2023	235
2024 novos restaurantes projetados	250-300

Chipotle Mexican Grill, Inc. (CMG) - Modelo de negócios: Recursos -chave

Técnicas proprietárias de preparação de alimentos

Chipotle opera com 2.966 restaurantes a partir do quarto trimestre 2023. As técnicas de preparação de alimentos da empresa envolvem:

• Sistema de comissário de cozinha central com 16 locais de comissários
• Preparação diária de ingredientes internamente
• Sem microondas ou freezers em cozinhas de restaurantes

Técnica	Detalhes
Fornecimento de ingredientes	51% da carne bovina de fornecedores dos EUA que atendem aos padrões agrícolas responsáveis
Preparação de alimentos	Refeições 100% preparadas à mão em restaurantes

Forte reputação da marca de ingredientes frescos

Métricas de valor da marca a partir de 2023:

• Avaliação da marca: US $ 6,1 bilhões
• Classificação de percepção do consumidor: 4.2/5 para qualidade de ingrediente

Infraestrutura de tecnologia digital

Os recursos digitais incluem:

• Vendas digitais: US $ 2,9 bilhões em 2023
• Plataformas de pedidos digitais cobrindo 100% dos restaurantes
• Aplicativo móvel com 30 milhões de usuários ativos

Investimento em tecnologia	Quantia
Gastos anuais de TI	US $ 87 milhões
Desenvolvimento da plataforma digital	US $ 45 milhões em 2023

Equipe de culinária treinada

Composição da força de trabalho:

• Total de funcionários: 53.000
• Funcionários médios de restaurante: 25-30 funcionários por local
• Investimento anual de treinamento: US $ 12,5 milhões

Locais estratégicos de restaurantes

Distribuição de localização:

• Total de restaurantes: 2.966
• Estados Unidos: 2.850 locais
• Internacional: 116 restaurantes

Tipo de localização	Número de restaurantes
Áreas urbanas	1,450
Locais suburbanos	1,216
Áreas de faculdade/universidade	300

Chipotle Mexican Grill, Inc. (CMG) - Modelo de negócios: proposições de valor

Cozinha de alta qualidade, inspirada no mexicano personalizável

A partir do quarto trimestre 2023, o Chipotle oferece 5 opções de proteína central: frango, bife, carnitas, barbacoa e sofritas. Taxa média de personalização do cliente: 87%. Faixa de preço do item do menu: US $ 8,50 - US $ 11,75.

Opção de proteína	Preço médio	Volume diário de vendas
Frango	$9.25	42.500 porções
Bife	$10.75	28.300 porções
Carnitas	$9.50	19.600 porções

Ingredientes frescos e de origem com responsabilidade

Estatísticas de fornecimento de ingredientes para 2023:

• Beef 100% elevada com responsabilidade sem antibióticos
• 53% dos produtos provenientes de fazendas locais
• US $ 50,3 milhões investidos em parcerias agrícolas sustentáveis
• Mais de 200 parcerias agrícolas locais em todo o país

Experiência gastronômica rápida casual

Tempo médio de preparação do pedido: 3-4 minutos. Porcentagem de pedidos digitais: 37,4% do total de vendas em 2023. Usuários de aplicativos móveis: 31,5 milhões de usuários mensais ativos.

Processo de preparação de alimentos transparente

Design de cozinha aberta em 99,8% dos locais. Investimento em segurança alimentar em 2023: US $ 22,6 milhões. Visibilidade da cozinha Classificada em 4,7/5 por pesquisas de satisfação do cliente.

Opções de refeições preocupadas com a saúde

Opção alimentar	Porcentagem do menu	Alcance médio de calorias
Vegetariano	18%	450-650 calorias
Vegano	12%	350-550 calorias
Amigável	15%	400-600 calorias

Chipotle Mexican Grill, Inc. (CMG) - Modelo de negócios: Relacionamentos do cliente

Aplicativo móvel e programa de fidelidade digital

A partir do quarto trimestre de 2023, o programa de recompensas da Chipotle relatou 34 milhões de membros ativos. A plataforma digital gerou 36,5% do total de vendas em 2023, totalizando US $ 3,2 bilhões em receita digital. O valor médio da ordem digital atingiu US $ 29,50.

Métrica da plataforma digital	2023 dados
Membros ativos de recompensas	34 milhões
Porcentagem de vendas digital	36.5%
Receita digital	US $ 3,2 bilhões
Valor médio do pedido digital	$29.50

Comunicações de marketing personalizadas

Os gastos de marketing da Chipotle em 2023 foram de US $ 252,7 milhões, com investimentos significativos em estratégias de comunicação digital e personalizadas direcionadas.

Engajamento da mídia social

Em janeiro de 2024, as métricas de mídia social de Chipotle incluem:

• Seguidores do Instagram: 1,8 milhão
• Seguidores do Twitter: 622.000
• Seguidores de tiktok: 2,3 milhões

Mecanismos de feedback de clientes online

A Chipotle processa aproximadamente 50.000 envios de feedback do cliente mensalmente por meio de suas plataformas digitais, com uma taxa de resposta relatada de 92%.

Experiência de atendimento ao cliente na loja

As pontuações de satisfação do cliente para experiência na loja tiveram uma média de 4,2 em 5 em 2023, com um tempo médio de transação de 3,5 minutos por cliente.

Métrica de atendimento ao cliente	2023 desempenho
Pontuação de satisfação	4.2/5
Tempo médio de transação	3,5 minutos

Chipotle Mexican Grill, Inc. (CMG) - Modelo de negócios: canais

Locais de restaurantes de propriedade da empresa

A partir do quarto trimestre de 2023, a Chipotle operava 3.187 restaurantes totais nos Estados Unidos, Canadá, Reino Unido, França e Alemanha. A empresa possui e opera exclusivamente todos os locais de restaurantes.

Região geográfica	Número de restaurantes
Estados Unidos	3,106
Mercados internacionais	81

Aplicativo de pedidos para celular

A plataforma de pedidos digitais da Chipotle gerou US $ 2,6 bilhões em vendas digitais em 2023, representando 36,3% da receita total.

• Downloads de aplicativos móveis: 29,5 milhões de usuários ativos
• Frequência do pedido digital: 29,5% do total de transações

Plataforma de pedidos de site

Chipotle.com permite pedidos on-line diretos com integração às plataformas digitais de propriedade da empresa.

Serviços de entrega de terceiros

As parcerias incluem:

• Doordash
• Uber come
• GRUBHUB

Serviço de entrega	Quota de mercado
Doordash	58%
Uber come	22%
GRUBHUB	20%

Encomenda direta na loja

A ordem tradicional no restaurante continua sendo um canal significativo, representando 63,7% do total de vendas em 2023.

Canal de pedido	Porcentagem de vendas
Ordens na loja	63.7%
Pedidos digitais	36.3%

Chipotle Mexican Grill, Inc. (CMG) - Modelo de negócios: segmentos de clientes

Millennials e Consumidores da Gen Z

A partir de 2024, os alvos de Chipotle 23,8 milhões de consumidores milenares e da geração Z com idades entre 18 e 40 anos. A pesquisa de mercado indica que 68% desses grupos demográficos priorizam o fornecimento de alimentos sustentáveis ​​e éticos.

Faixa etária	População total	Porcentagem alvo de Chipotle
Millennials (25-40)	72,1 milhões	42%
Gen Z (18-24)	68,2 milhões	26%

Indivíduos preocupados com a saúde

Chipotle atrai 15,4 milhões de consumidores preocupados com a saúde com preferências alimentares específicas.

• Opções vegetarianas: 12% do menu
• Opções veganas: 8% do menu
• Alternativas ricas em proteínas: 22% do menu

Entusiastas de refeições casuais rápidas

O segmento-fast-casual representa um mercado de US $ 209 bilhões em 2024, com Chipotle capturando aproximadamente 3,7% de participação de mercado.

Segmento de mercado	Valor total de mercado	Participação de mercado da Chipotle
Refeições rápidas casuais	US $ 209 bilhões	3.7%

Profissionais urbanos e suburbanos

Visando 41,6 milhões de profissionais urbanos e suburbanos com renda anual entre US $ 75.000 e US $ 125.000.

• Gastos médios do cliente: US $ 14,50 por visita
• Frequência de visitas: 2,3 vezes por mês

Estudantes universitários e jovens adultos

Chipotle se concentra em 12,6 milhões de estudantes universitários e adultos jovens com recursos de pedidos digitais.

Métricas de pedidos digitais	Percentagem
Vendas digitais	36.5%
Usuários de aplicativos móveis	29,7 milhões

Chipotle Mexican Grill, Inc. (CMG) - Modelo de negócios: estrutura de custos

Compras de ingredientes alimentares

Em 2023, os custos alimentares da Chipotle foram de aproximadamente US $ 1,9 bilhão, representando 31,6% da receita total. A quebra de ingredientes inclui:

Categoria de ingredientes	Custo anual	Porcentagem de orçamento de alimentos
Proteínas	US $ 684 milhões	36%
Produzir	US $ 456 milhões	24%
Produtos lácteos	US $ 285 milhões	15%
Tortilhas e grãos	US $ 228 milhões	12%

Salários de trabalho e funcionários

Os custos trabalhistas para o Chipotle em 2023 totalizaram US $ 2,3 bilhões, representando 38,2% da receita total.

• Salário médio por hora para trabalhadores de restaurantes: US $ 15,50
• Número total de funcionários: 54.000
• Salário anual para gerentes de restaurantes: US $ 58.000 a US $ 72.000

Aluguel e manutenção de restaurantes

A ocupação e as despesas relacionadas em 2023 foram de US $ 679 milhões, aproximadamente 11,3% da receita total.

Categoria de despesa	Custo anual
Aluguel	US $ 456 milhões
Utilitários	US $ 112 milhões
Manutenção	US $ 111 milhões

Tecnologia e infraestrutura digital

Os investimentos em tecnologia em 2023 atingiram US $ 187 milhões, representando 3,1% da receita total.

• Desenvolvimento da plataforma de pedidos digitais: US $ 84 milhões
• Investimentos de segurança cibernética: US $ 42 milhões
• Aplicativo móvel e infraestrutura digital: US $ 61 milhões

Despesas de marketing e promocionais

As despesas de marketing para 2023 foram de US $ 276 milhões, aproximadamente 4,6% da receita total.

Canal de marketing	Gasto anual
Marketing digital	US $ 142 milhões
Publicidade tradicional	US $ 87 milhões
Campanhas promocionais	US $ 47 milhões

Chipotle Mexican Grill, Inc. (CMG) - Modelo de negócios: fluxos de receita

Vendas de refeições na loja

Para o ano fiscal de 2023, Chipotle registrou receita total de US $ 9,9 bilhões, com Vendas de restaurantes representando a fonte de receita primária. As vendas médias de restaurantes por unidade foram de aproximadamente US $ 2,9 milhões em 2023.

Receitas de pedidos digitais e móveis

As vendas digitais em 2023 representaram 37,7% da receita total, atingindo aproximadamente US $ 3,73 bilhões. As transações de aplicativos móveis representaram uma parcela significativa das vendas digitais.

Ano	Porcentagem de vendas digital	Valor de vendas digital
2023	37.7%	US $ 3,73 bilhões
2022	36.5%	US $ 3,47 bilhões

Serviços de catering

A receita de catering da Chipotle contribuiu com aproximadamente 5-7% do total de vendas de restaurantes, estimado em US $ 495 a US $ 693 milhões em 2023.

Comissões da plataforma de entrega

As parcerias de entrega geraram receita adicional por meio de estruturas de comissão com plataformas como DoorDash e Uber Eats.

Plataforma de entrega	Taxa estimada da comissão
Doordash	15-30%
Uber come	15-25%

Mercadoria e vendas de produtos de marca

Mercadoria e vendas de produtos de marca geraram receita suplementar através de:

• Roupas de marca
• Cartões -presente
• Mercadoria de edição limitada
• Produtos alimentícios embalados

A receita anual estimada em mercadorias varia entre US $ 10 e 20 milhões.

Chipotle Mexican Grill, Inc. (CMG) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Chipotle Mexican Grill, Inc. over the competition right now, late in fiscal 2025. It's a mix of customization, quality sourcing, and speed, all wrapped up in a price perception that management is actively defending.

The highly customizable, made-to-order menu is a foundational element. You get to dictate every component of your burrito, bowl, tacos, or salad. While we don't have a specific transaction count for customization choices, the sheer volume of digital orders shows how many people are engaging with this personalization engine. Digital sales, which include orders placed via the app or website for pickup or delivery, accounted for 36.7% of total food and beverage revenue in the third quarter of 2025.

The Food with Integrity promise remains a key differentiator, underpinning customer loyalty even when transaction counts soften. This commitment translates into measurable supply chain goals. For instance, the company had pledged to source 100% of its electricity from renewable sources by 2025. Looking back at ingredient quality metrics, as of late 2024, Chipotle had already converted 425 acres of conventional farmland to organic, exceeding its goal of 400 acres by 2025. Furthermore, the brand emphasizes its menu uses only 53 ingredients.

Speed and convenience are heavily supported by the continued rollout of Chipotlanes. These dedicated pickup lanes are central to handling the massive digital order volume efficiently. In the third quarter of 2025 alone, Chipotle opened 64 new Chipotlane locations, contributing to the 84 total new company-owned restaurants opened that quarter. This infrastructure is designed to enhance guest access and convenience for those who order ahead.

The perceived value proposition is a deliberate strategic choice, especially given the current macro environment. Management has stated a decision to maintain a pricing discount in the 20% to 30% range relative to fast-casual peers. This is a calculated trade-off, as the 1.1% increase in average check size in Q3 2025 was necessary to partially offset a 0.8% decline in transactions. The 2% price increase implemented in December of the prior year is noted as covering inflation quite well.

Here's a snapshot of the operational metrics supporting these value drivers as of the end of Q3 2025:

Metric	Value (Q3 2025)	Context
Digital Sales Share of Revenue	36.7%	Indicates high adoption of customized, digital ordering
New Chipotlanes Opened (Q3)	64	Direct investment in speed/convenience infrastructure
Average Check Increase (YoY)	1.1%	Primary driver of the 0.3% Comparable Restaurant Sales increase
Restaurant Level Operating Margin	24.5%	Reflects pressure from absorbing input costs to maintain value perception
Organic Farmland Conversion (Goal)	400 acres by 2025 (Exceeded)	Quantifiable measure of the Food with Integrity commitment

The focus on customization and quality sourcing is expensive; food, beverage, and packaging costs were 30.0% of total revenue in Q3 2025. Still, management is prioritizing price stability to reinforce that value perception, even as they navigate a full-year comparable sales decline forecast in the low-single-digit range for 2025.

You can see the strategic tension clearly in the operational results:

• Digital orders are 36.7% of sales, showing high use of the made-to-order system.
• Labor costs rose to 25.2% of total revenue in Q3 2025, partly due to lower volumes.
• The company opened 84 new restaurants in Q3, signaling continued expansion.
• Management is deliberately absorbing input cost inflation to keep pricing competitive.

Finance: draft 13-week cash view by Friday.

Chipotle Mexican Grill, Inc. (CMG) - Canvas Business Model: Customer Relationships

Automated, data-driven personalization through the Rewards app.

Chipotle Mexican Grill, Inc. uses its digital ecosystem to drive personalized interactions, especially through the Chipotle Rewards program. This focus is critical, particularly as comparable restaurant sales faced headwinds, with Q3 2025 comparable restaurant sales increasing only 0.3% year-over-year, driven by a 1.1% increase in average check, partially offset by a 0.8% drop in transactions. The digital channel remains a substantial part of the business.

Metric	Q1 2025	Q2 2025	Q3 2025
Digital Sales (% of Total F&B Revenue)	35.4%	35.5%	36.7%

The company is actively using this digital relationship to target at-risk customers. Digital sign-ups for the loyalty program increased 14% year-over-year in Q2 2025. As of the Q2 2025 earnings call, about 20 million rewards members were active or had made a transaction at least once in the past year. To be fair, loyalty program members generally spend 67% more on average compared to new customers.

Gamified loyalty program features like Extras and achievement badges.

Chipotle Mexican Grill, Inc. deploys gamification to boost engagement, especially targeting lower-frequency users. The "Summer of Extras" promotion in mid-2025 was a key example, involving some 6.4 million app users participating in a campaign that gave away 10,000 burritos, valued at $1 million worth of product. This initiative drove a significant step up in reactivations of lapsed members from the prior summer. Furthermore, the recently launched university rewards program shows a strong start, with participants showing "higher frequency and stronger engagement," which is driving a meaningful change in spend.

• "Summer of Extras" participation: 6.4 million app users.
• Value of burritos given away in the promotion: $1 million.
• Digital loyalty sign-up growth (YOY, Q2 2025): 14%.

High-touch, in-person service on the visible assembly line.

The in-person experience remains central to Chipotle Mexican Grill, Inc.'s customer relationship, focusing on throughput and operational efficiency to enhance service. The strategy for 2025 centered on the "total guest experience," which includes rolling out new kitchen equipment to simplify fulfillment. For instance, the chain is introducing produce slicers to all restaurants by the summer of 2025. The expansion of Chipotlanes is also a direct customer service play; Four in 5 new locations opened in 2025 included one, allowing mobile customers to pick up orders in less than 30 seconds on average. Still, labor costs remain a focus, hitting 25.2% of total revenue in Q3 2025, an increase of 30 basis points year-over-year.

Social media engagement using humor and user-generated content.

Chipotle Mexican Grill, Inc. maintains a vibrant social media presence to foster community connection. The brand has amassed over 2 million followers on TikTok as of 2025. User-generated content is a major driver; the #LidFlipChallenge campaign generated 110K videos posted within its first six days. This engagement is data-informed, as 71% of consumers express interest in personalized offers, which the brand uses data from its digital loyalty program to tailor. The company targets young professionals and college students, aged 18-30, through these digital channels.

Chipotle Mexican Grill, Inc. (CMG) - Canvas Business Model: Channels

You're looking at how Chipotle Mexican Grill, Inc. gets its food to the customer, which is a mix of old-school brick-and-mortar and modern digital speed. The physical footprint is still the core, but the digital layer is growing fast, especially with the dedicated pickup lanes.

Physical company-owned restaurants for dine-in and takeout form the foundation. As of the end of fiscal year 2024, Chipotle Mexican Grill, Inc. operated a total of 3,726 restaurants. The pace of expansion in 2025 was aggressive; for instance, in the third quarter ended September 30, 2025, the company opened 84 new company-owned restaurants. Management's guidance for the full year 2025 was to open between 315 and 345 new company-owned restaurants, supporting the long-term goal of reaching 7,000 restaurants in North America. These locations serve both traditional dine-in and takeout customers.

Chipotlanes, the dedicated drive-thru lanes for mobile order pickup, are now central to new development. This format is designed to enhance guest access and convenience while boosting sales, margins, and returns at new locations. In the third quarter of 2025, 64 out of the 84 new restaurants opened included a Chipotlane, representing about 76% of the quarter's new builds. Looking at the full year 2025 plan, management projected that over 80% of the 315 to 345 new company-owned restaurants would feature this lane. The efficiency is notable; on average, it takes guests less than 30 seconds to complete the Chipotlane process. At the end of 2024, the company had 1,068 Chipotlanes in its portfolio.

Proprietary digital channels, specifically the Chipotle mobile app and website, drive significant volume. For the third quarter of 2025, digital sales accounted for 36.7% of total food and beverage revenue. This channel is critical for throughput, especially as transaction traffic faced headwinds, with comparable restaurant sales increasing only 0.3% year-over-year in Q3 2025, driven by a 1.1% increase in average check partially offset by a 0.8% decline in transactions.

Third-party delivery platforms contribute to the overall digital reach. The reported digital sales figure of 36.7% of revenue for Q3 2025 encompasses orders generated through the Chipotle website, the Chipotle app, and third-party delivery aggregators. While the exact split between proprietary and third-party is not explicitly broken out in the latest reports, these platforms extend the customer base beyond those using the native app or website directly.

Here's a quick look at the key channel metrics as of the latest reported period:

Channel Metric	Value/Percentage	Period/Context
Total Company-Owned Restaurants	3,726	Year-End 2024
New Company-Owned Restaurants Opened	84	Q3 2025
New Restaurants with Chipotlane	64 of 84	Q3 2025
Digital Sales as % of Food & Beverage Revenue	36.7%	Q3 2025
Average Chipotlane Pickup Time	Less than 30 seconds	General Metric
Total Chipotlanes	1,068	Year-End 2024

The company is clearly prioritizing the Chipotlane format for future growth, aiming for at least 80% penetration in its 315 to 345 new unit openings planned for the full year 2025. Finance: draft 13-week cash view by Friday.

Chipotle Mexican Grill, Inc. (CMG) - Canvas Business Model: Customer Segments

Chipotle Mexican Grill, Inc. serves distinct customer groups, though recent macroeconomic conditions have caused shifts in frequency among certain cohorts.

Health and quality-conscious consumers seeking fresh, real food.

• Chipotle Mexican Grill, Inc. serves customers looking for food made fresh with high-quality ingredients, prepared using classic culinary techniques.
• The price point is positioned at 20-30% below peers.

Digital-first customers prioritizing speed and convenience.

The reliance on digital channels is a significant feature of the current customer base.

Metric	Value (Q3 2025)
Digital Sales as % of Total Food & Beverage Revenue	36.7%
Total Revenue (Q3 2025)	$3.0 billion
New Restaurants Opened (Q3 2025)	84 company-owned
New Restaurants with Chipotlane (Q3 2025)	64

Broad mass market, though the segment with income below $100,000 is currently reducing frequency.

Management has observed clear pressure on lower-income customers, impacting overall transaction volume.

• Customers with household income below $100,000 represent about 40% of total sales.
• This cohort is reducing frequency, choosing options like grocery stores or cooking more at home.
• Comparable restaurant sales for Q3 2025 increased 0.3%, driven by a 1.1% average check increase, offset by a 0.8% decline in transactions.
• Full year 2025 comparable sales guidance was lowered to a decline in the low-single-digit range.
• Restaurant level operating margin was 24.5% in Q3 2025.

Younger demographics (25-35) targeted by digital and social media campaigns.

This younger segment, typically a core group, is facing specific economic headwinds.

• The 25 to 35-year-old age group was called out as particularly challenged.
• This cohort accounts for 25% of sales, according to one estimate.
• Management noted a 'significant pullback' from customers between the ages of 25 and 34 who make less than $100,000 a year.
• Labor costs in Q3 2025 were 25.2% of total revenue.

Chipotle Mexican Grill, Inc. (CMG) - Canvas Business Model: Cost Structure

When you look at the Cost Structure for Chipotle Mexican Grill, Inc. as of late 2025, you see a business heavily weighted toward direct operational costs, which is typical for a high-volume, fast-casual operator. The pressure points are clear, especially when transaction growth stalls.

The most significant line item, as always, is the cost of goods sold. For the third quarter ended September 30, 2025, food, beverage, and packaging costs settled at exactly 30.0% of total revenue. That's down from 30.6% in Q3 2024, which management attributed to menu price increases enacted in the prior year and some cost efficiencies. Still, they noted headwinds from ingredient inflation, particularly beef and chicken, plus the impact of newly enacted tariffs.

Next up is labor, which is showing the strain of the current environment. Labor costs for Q3 2025 rose to 25.2% of total revenue, an increase from 24.9% the year prior. Honestly, this jump is a direct result of wage inflation hitting the front lines, compounded by lower sales volumes-the operating leverage works both ways, remember? Lower traffic means you're spreading fixed costs, like manager salaries, thinner against the revenue base.

Here's a quick look at how the primary restaurant operating costs stacked up against the $3.003 billion in total revenue for Q3 2025:

Cost Category	Q3 2025 Amount (in thousands)	Q3 2025 % of Revenue
Food, Beverage, and Packaging	$902,445	30.0%
Labor	$756,669	25.2%
Occupancy	$158,314	5.3%
Other Operating Costs	$450,433	15.0%

You're definitely seeing significant ongoing investment in the physical footprint and the tech that runs it. Chipotle Mexican Grill, Inc. planned for capital expenditures of $683.7 million for the full year 2025, a step up from the $593.6 million spent in 2024. This spending is laser-focused on growth and efficiency.

The expansion strategy dictates a large portion of this CapEx:

• Planned 315 to 345 new company-owned restaurant openings for 2025.
• Commitment that at least 80% of those new builds will feature the high-volume Chipotlane format.
• Ongoing investments in back-of-house technologies, like produce slicers and dual-sided planchas, aimed at improving throughput.

Beyond the direct restaurant costs, the corporate overhead needs attention. General and administrative expenses on a GAAP basis for Q3 2025 reached $146.742 million, representing 4.9% of revenue. That's up from $126.614 million in Q3 2024, largely due to stock-based compensation. On a non-GAAP basis, the G&A was $138.7 million for the quarter. Meanwhile, occupancy costs, which are largely fixed rent obligations, accounted for $158.314 million, or 5.3% of revenue in the quarter. When transaction traffic declines, these fixed costs naturally inflate as a percentage of sales.

Chipotle Mexican Grill, Inc. (CMG) - Canvas Business Model: Revenue Streams

You're looking at the core ways Chipotle Mexican Grill, Inc. brings in cash as of late 2025. The overall picture for the third quarter ended September 30, 2025, shows total revenue hitting $3.0 billion, which was a 7.5% lift compared to the same period last year. That top-line growth is the result of a mix of price increases and new store openings, even with transaction traffic softening a bit. The revenue streams are clearly segmented between the traditional dine-in experience and the increasingly important digital channels.

Here's the quick math on how that $3.0 billion in Q3 2025 revenue broke down between the two primary channels, based on the figures you provided:

Revenue Stream Segment	Percentage of Q3 Revenue	Implied Q3 Revenue Amount
In-restaurant sales (traditional counter orders)	63.3%	$1.899 billion
Digital Sales (App, Web, Third-Party)	36.7%	$1.101 billion

The digital contribution is substantial, representing 36.7% of total food and beverage revenue for Q3 2025. This shows you that the investment in digital experiences, like the app and web ordering, is now a massive, non-negotiable part of the business. It's not just an add-on anymore; it's nearly two-fifths of the core food and beverage take.

The digital revenue is generated through several key avenues, which you need to track closely:

• Orders placed via the Chipotle mobile app.
• Orders placed through the Chipotle website.
• Sales facilitated by third-party delivery aggregators.
• Revenue from catering services, which often flows through digital channels.

Also, don't forget the smaller, but strategically important, international component. Chipotle Mexican Grill, Inc. generates revenue through fees from its international partner-operated locations. During Q3 2025, the company opened two new international partner-operated restaurants, continuing the expansion under the master franchise agreement in the Middle East with Alshaya Group. While the dollar amount for these fees isn't broken out in the headline figures, this stream represents a capital-light way to grow the brand footprint outside of the company's wholly-owned US, Canada, UK, France, and Germany stores.