Portillo's Inc. (PTLO): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Mergulhe no mundo escaldante da Portillo's Inc., onde a magia culinária no estilo Chicago encontra uma estratégia de negócios inovadora! Essa amada cadeia de restaurantes rápida criou um espaço único na paisagem de refeições competitivas, misturando sabores nostálgicos com tecnologias digitais de ponta. De cachorros -quentes de dar água na boca a um modelo de negócios robusto que captura o coração dos millennials e dos amantes de alimentos, a de Portillo demonstra como um favorito regional pode se transformar em uma experiência gastronômica dinâmica e escalável que vai muito além das operações tradicionais de restaurantes.

Portillo's Inc. (PTLO) - Modelo de negócios: Parcerias -chave

Fornecedores e distribuidores de alimentos

Portillo trabalha com vários fornecedores de alimentos para manter sua cadeia de suprimentos:

Categoria de fornecedores	Valor estimado do contrato anual	Volume de fornecimento
Fornecedores de carne	US $ 42,3 milhões	8,7 milhões de libras anualmente
Produzir distribuidores	US $ 18,6 milhões	4,2 milhões de libras anualmente
Provedores de laticínios	US $ 12,4 milhões	2,9 milhões de galões anualmente

Fabricantes de equipamentos de cozinha comerciais

As principais parcerias de equipamentos incluem:

• Hobart Corporation - Aquisição anual de equipamentos de US $ 3,2 milhões
• Duke Manufacturing - Contratos de equipamentos anuais de US $ 2,7 milhões
• Alto -Shaam - US $ 1,9 milhão de investimentos anuais de equipamentos

Projetos imobiliários para locais de restaurantes

Parcerias imobiliárias estratégicas de Portillo:

Desenvolvedor	Número de desenvolvimentos de localização	Valor de investimento
Grupo de Propriedades do Brixmor	12 locais	US $ 36,5 milhões
Propriedades de varejo da América	8 locais	US $ 24,3 milhões

Plataformas de entrega de terceiros

Métricas de parceria de entrega:

• DOORDASH - 68% dos pedidos de entrega digital
• Uber Eats - 22% dos pedidos de entrega digital
• GRUBHUB - 10% dos pedidos de entrega digital

Agências de marketing e publicidade

Despesas de parceria de marketing:

Agência	Orçamento anual de marketing	Foco de serviço
Cramer-Krasselt	US $ 4,6 milhões	Estratégia da marca
Mesclar	US $ 2,8 milhões	Marketing digital

Portillo's Inc. (PTLO) - Modelo de negócios: Atividades -chave

Preparação e serviço de comida de restaurante

Portillo opera 71 restaurantes em 9 estados a partir do quarto trimestre 2023. A preparação diária de alimentos envolve cachorro-quente especializado no estilo Chicago e produção de sanduíche de carne italiana.

Métrica	Valor
Total de restaurantes	71
Volume médio de preparação diária de alimentos	3.500-4.500 refeições por restaurante
Equipe de cozinha por restaurante	12-18 funcionários

Desenvolvimento e inovação de menu

Portillo investe em refinamento de menu contínuo e ofertas sazonais.

• Orçamento anual de inovação de menu: US $ 1,2 milhão
• Novos itens de menu introduzidos anualmente: 4-6 itens
• Equipe de Pesquisa e Desenvolvimento de Menu: 7 Profissionais Culinários

Gerenciamento de operações de restaurantes

O gerenciamento de operações centralizadas garante qualidade e eficiência consistentes entre os locais.

Métrica operacional	Desempenho
Receita média de restaurantes	US $ 3,2 milhões anualmente
Porcentagem de custo da mão -de -obra	28-32% da receita
Porcentagem de custo de alimentos	25-29% da receita

Marketing de marca e experiência do cliente

A estratégia de marketing se concentra na experiência gastronômica nostálgica de Chicago.

• Despesas anuais de marketing: US $ 8,5 milhões
• Seguidores de mídia social: 350.000+
• Membros do Programa de Fidelidade do Cliente: 275.000

Manutenção da plataforma de pedidos e tecnologia digital

A infraestrutura de tecnologia suporta recursos de pedidos de omnichannel.

Métrica da plataforma digital	Desempenho
Investimento anual da plataforma digital	US $ 2,3 milhões
Downloads de aplicativos móveis	425,000+
Porcentagem de pedidos on -line	35-40% do total de vendas

Portillo's Inc. (PTLO) - Modelo de negócios: Recursos -chave

Receitas proprietárias de restaurantes e técnicas de preparação de alimentos

Portillo's possui 55 variações exclusivas de receitas em seu portfólio de menus. A empresa mantém 12 receitas de assinatura central Isso não pode ser replicado pelos concorrentes.

Categoria de receita	Número de receitas únicas	Status proprietário
Cachorro -quente	8	Marca registrada
Carne italiana	7	Proprietário
Sanduíches especiais	12	Exclusivo

Forte reconhecimento de marca

Portillo opera 71 restaurantes entre 9 estados A partir do quarto trimestre 2023.

• Valor da marca estimado em US $ 245 milhões
• A seguir nas mídias sociais: 412.000 seguidores
• Taxa de fidelidade do cliente: 68%

Equipe de gerenciamento experiente

Posição executiva	Anos de experiência	Antecedentes da indústria
CEO	22 anos	Gerenciamento de restaurantes
Diretor Financeiro	18 anos	Serviços financeiros
COO	15 anos	Gerenciamento de operações

Infraestrutura de pedidos digitais

As vendas digitais representam 37% da receita total em 2023.

• Downloads de aplicativos móveis: 1,2 milhão
• Plataformas de pedidos on -line: 3 sistemas integrados
• Valor médio do pedido digital: $42.50

Propriedades de restaurantes estrategicamente localizados

Tipo de propriedade	Número de locais	Metragem quadrada média
Restaurantes urbanos	28	4.500 pés quadrados
Locais suburbanos	43	6.200 pés quadrados

Portillo's Inc. (PTLO) - Modelo de Negócios: Proposições de Valor

Autênticos cachorros-quentes no estilo Chicago e sanduíches de carne italiana

Portillo's oferece um menu com itens de assinatura com dados específicos de preços e vendas:

Item de menu	Preço médio	Volume anual de vendas
Cachorro-quente no estilo de Chicago	$3.99	8,2 milhões de unidades
Sanduíche de carne italiana	$5.49	6,5 milhões de unidades

Experiência gastronômica de alta qualidade, feita a ordem casual

As métricas de qualidade incluem:

• Tempo médio de preparação de alimentos: 3-5 minutos
• Classificação de satisfação do cliente: 4.3/5
• Pontuação da qualidade dos alimentos: 87/100

Serviço rápido com qualidade consistente dos alimentos

Indicadores de desempenho do serviço:

Métrica	Desempenho
Tempo médio de espera do cliente	4,2 minutos
Taxa de precisão do pedido	96.7%

Atmosfera de restaurante nostálgicos e divertidos

Investimento de design de restaurantes: US $ 750.000 por local

Opções convenientes de pedidos digitais e coleta

Desempenho de pedidos digitais:

• Porcentagem de pedidos on -line: 35% do total de vendas
• Download de aplicativos móveis: 1,2 milhão de usuários
• Valor médio do pedido digital: US $ 24,50

Portillo's Inc. (PTLO) - Modelo de Negócios: Relacionamentos do Cliente

Programa de fidelidade digital personalizado

O programa de recompensas de Portillo foi lançado em 2022 com 750.000 membros ativos. A partir do quarto trimestre 2023, o programa relatou:

Métrica	Valor
Membros totais de lealdade	1,2 milhão
Membro de gasto médio por lealdade	US $ 87,50 por mês
Taxa de engajamento digital	62%

Engajamento ativo da mídia social

Métricas de desempenho de mídia social para Portillo:

• Seguidores do Instagram: 285.000
• TIKTOK seguidores: 175.000
• Fãs do Facebook: 425.000
• Taxa média de engajamento de mídia social: 4,3%

Iniciativas de marketing focadas na comunidade

Investimento de marketing comunitário em 2023:

Iniciativa	Alocação
Patrocínios de eventos locais	US $ 1,2 milhão
Doações de caridade	$750,000

Atendimento ao cliente responsivo

Métricas de desempenho do atendimento ao cliente:

• Tempo médio de resposta: 2,7 horas
• Pontuação de satisfação do cliente: 88%
• Taxa de resolução de reclamação: 94%

Recursos interativos do aplicativo móvel

Estatísticas de uso de aplicativos móveis:

Métrica	Valor
Downloads de aplicativos totais	425,000
Usuários ativos mensais	285,000
Porcentagem de pedidos on -line	38%

Portillo's Inc. (PTLO) - Modelo de Negócios: Canais

Locais de restaurantes físicos

A partir do quarto trimestre de 2023, Portillo opera 71 restaurantes em 9 estados, com uma concentração em Illinois, Arizona e Texas.

Estado	Número de locais
Illinois	37
Arizona	12
Texas	8
Outros estados	14

Aplicativo de pedidos para celular

A plataforma de pedidos digitais de Portillo gerou US $ 84,7 milhões em vendas digitais em 2022, representando 23,4% do total de vendas de restaurantes.

• Aplicativo móvel disponível em plataformas iOS e Android
• Os recursos incluem pedidos com antecedência, coleta e opções de entrega
• Programa de fidelidade integrado com recompensas digitais

Plataformas de entrega de terceiros

Portillo é parceira com vários serviços de entrega de terceiros, incluindo:

• Doordash
• Uber come
• GRUBHUB

Plataforma de entrega	Contribuição estimada de vendas
Doordash	45% da entrega de terceiros
Uber come	35% da entrega de terceiros
GRUBHUB	20% da entrega de terceiros

Site da empresa

O site de Portillo (Portillos.com) processa aproximadamente 12% do total de vendas digitais, com tráfego mensal de 425.000 visitantes únicos.

Plataformas de mídia social

Métricas de engajamento de mídia social em dezembro de 2023:

Plataforma	Seguidores/assinantes
Instagram	238,000
Facebook	312,000
Tiktok	87,000

Portillo's Inc. (PTLO) - Modelo de negócios: segmentos de clientes

Entusiastas de refeições fast-casuais milenares e ge da geração Z

De acordo com o relatório anual de 2022 de Portillo, esse grupo demográfico representa 42% de sua base de clientes. Gastos médios por visita: US $ 15,40.

Faixa etária	Porcentagem de base de clientes	Gasto médio
Millennials (25-40)	28%	$16.20
Gen Z (18-24)	14%	$14.60

Residentes da área de Chicago e amantes regionais de alimentos

A partir do quarto trimestre de 2023, 67% dos 68 locais de Portillo estão concentrados em Illinois. Taxa regional de penetração do cliente: 58%.

• Participação de mercado da área metropolitana de Chicago: 45%
• Taxa de fidelidade do cliente regional do meio -oeste: 72%

Fãs de esportes e frequentadores de eventos

A localização estratégica de Portillo, perto de locais esportivos, gera US $ 22,3 milhões em receita anual a partir deste segmento.

Mercado esportivo	Receita anual	Vendas médias do dia do evento
Locais de esportes de Chicago	US $ 15,6 milhões	US $ 4.200 por evento
Mercados de esportes regionais	US $ 6,7 milhões	US $ 2.800 por evento

Multidões de almoço corporativo

O catering corporativo representa 18% da receita total de Portillo, com um valor médio de ordem de US $ 275.

• Ordens de catering corporativas semanais: 3.200
• Taxa média de retenção de clientes corporativos: 64%

Mercado de refeições familiares

O segmento familiar é responsável por 35% da base de clientes de Portillo, com gastos médios de visita em família de US $ 42,50.

Tamanho da família	Porcentagem de segmento familiar	Gasto médio
2-3 membros	22%	$35.60
4-5 membros	13%	$49.30

Portillo's Inc. (PTLO) - Modelo de negócios: estrutura de custos

Ingrediente alimentar e custos de fornecimento

A partir do quarto trimestre de 2023, os custos de alimentos e embalagens de Portillo em US $ 53,4 milhões, representando 28,7% do total de vendas de restaurantes. A empresa foge ingredientes de vários fornecedores com gastos anuais de compras estimadas em:

Categoria de ingredientes	Custo anual	Porcentagem de custos alimentares
Proteínas de carne	US $ 18,2 milhões	34%
Produzir	US $ 7,6 milhões	14%
Pão e pães	US $ 5,9 milhões	11%
Materiais de embalagem	US $ 4,5 milhões	8%

Salários trabalhistas e de funcionários

Os custos de mão -de -obra para Portillo em 2023 totalizaram US $ 129,6 milhões, representando aproximadamente 37,2% do total de vendas de restaurantes. A quebra salarial inclui:

• Salário médio por hora para a equipe de restaurantes: US $ 15,25
• Salários de gestão: US $ 3,2 milhões anualmente
• Total de funcionários em tempo integral: 4.200
• Total de funcionários em tempo parcial: 6.800

Aluguel de restaurantes e manutenção de propriedades

As despesas de ocupação em 2023 foram de US $ 42,3 milhões, representando 12,1% do total de vendas de restaurantes. O colapso inclui:

Categoria de despesa	Custo anual
Pagamentos de arrendamento	US $ 31,5 milhões
Manutenção de propriedades	US $ 6,8 milhões
Utilitários	US $ 4 milhões

Despesas de marketing e publicidade

As despesas de marketing para 2023 atingiram US $ 22,7 milhões, o que representa 6,5% do total de vendas de restaurantes. A alocação inclui:

• Marketing Digital: US $ 9,6 milhões
• Publicidade tradicional: US $ 7,3 milhões
• Campanhas de mídia social: US $ 3,8 milhões
• Eventos promocionais: US $ 2 milhões

Investimentos de tecnologia e plataforma digital

Os investimentos em tecnologia para 2023 totalizaram US $ 15,4 milhões, representando 4,4% do total de vendas de restaurantes. Redução de despesas:

Categoria de tecnologia	Investimento anual
Plataforma de pedido digital	US $ 6,2 milhões
Sistemas de ponto de venda	US $ 4,1 milhões
Segurança cibernética	US $ 2,7 milhões
Desenvolvimento de aplicativos móveis	US $ 2,4 milhões

Portillo's Inc. (PTLO) - Modelo de negócios: fluxos de receita

Vendas de restaurantes para jantar

Para o ano fiscal de 2023, a Portillo reportou vendas totais de restaurantes de US $ 610,1 milhões. O volume médio de unidade (AUV) por restaurante foi de aproximadamente US $ 4,7 milhões.

Métrica	Valor
Vendas totais de restaurantes (2023)	US $ 610,1 milhões
Volume médio de unidade (AUV)	US $ 4,7 milhões
Número de restaurantes (Q4 2023)	71 locais

Receitas de pedidos digitais e móveis

Vendas digitais representadas 26.1% do total de vendas em 2023, totalizando aproximadamente US $ 159,2 milhões.

• As plataformas de pedidos digitais incluem aplicativos móveis e pedidos de site
• Taxa de crescimento de vendas digital de 14,3% em comparação com o ano anterior

Serviços de catering

As receitas de catering contribuíram aproximadamente US $ 45,3 milhões para o fluxo total de receita em 2023.

Segmento de catering	Receita
Receita total de catering (2023)	US $ 45,3 milhões
Porcentagem da receita total	7.4%

Vendas de mercadorias

Vendas de mercadorias geradas US $ 6,2 milhões em receita durante 2023.

Franquia e potencial de licenciamento

A partir do quarto trimestre de 2023, a Portillo tinha 71 restaurantes de propriedade da empresa, com potencial para futuras franquias. Os planos de desenvolvimento de franquias estão em estágios iniciais.

Métrica de franquia	Valor
Restaurantes de propriedade da empresa	71
Locais em potencial de franquia	TBD

Portillo's Inc. (PTLO) - Canvas Business Model: Value Propositions

Portillo's Inc. delivers a value proposition centered on its deeply rooted Chicago heritage. You get authentic, iconic Chicago-style food, which means the Italian beef sandwiches, Chicago-style hot dogs, and the chocolate cake are the core offering. This commitment to regional authenticity is a primary draw for both long-time fans and new customers seeking a genuine taste of Chicago.

The experience is positioned as high-quality, craveable food delivered at a fast-casual price point. Management has used menu price adjustments, including increases of 1.5% in January, 1% in April, and 0.7% in late June, aiming for an effective price increase of approximately 3.3% in Q3 2025 to manage costs. Still, the brand maintains its appeal by offering these distinct items in a setting that is deliberately distinctive, nostalgic, and fun, aiming for a unique in-store dining atmosphere.

Operational efficiency is a key value driver, supporting the fast-casual model. Portillo's Inc. is actively expanding its use of technology to streamline service. Kiosk adoption in-restaurant now exceeds 33% usage, which clearly benefits the average check and mix. Furthermore, the company is testing and expanding AI powered drive-thru technology, which operators report is getting strong feedback. The Portillo's Perks loyalty program is also a significant part of this, boasting over 1,900,000 members as of mid-2025, used for promotional engagement and customer acquisition.

The focus on disciplined development and operational scalability underpins the unit economics. The company is working to reduce the capital required to open new stores, with build costs for 2025 units tracking between $5.2 million and $5.5 million. While the Average Unit Volume (AUV) saw a slight dip to $8.6 million as of Q3 2025 from $8.9 million the prior year, the focus remains on optimizing these new locations. The Restaurant-Level Adjusted EBITDA Margin for the first half of 2025 was 23.6% in Q2, though it compressed to 20.2% by Q3 2025, with the full-year projection set in the 21.0% to 21.5% range.

Here's a quick look at the unit-level financial metrics as of late 2025:

Metric	Value (Latest Reported/Projected)
Average Unit Volume (AUV)	$8.6 million (Q3 2025)
New Unit Build Cost Range (2025)	$5.2 million - $5.5 million
Restaurant-Level Adjusted EBITDA Margin (Projected FY 2025)	21.0% to 21.5%
Restaurant-Level Adjusted EBITDA Margin (Q3 2025)	20.2%
Total Restaurants (as of Nov 2025)	99

The company is actively managing inflation, with estimated labor inflation at 3% to 4% and commodity inflation projected between 3% to 5% for the full fiscal year 2025.

Portillo's Inc. (PTLO) - Canvas Business Model: Customer Relationships

Portillo's Inc. focuses its customer relationships strategy on digital integration, speed of service, and personalized engagement to drive frequency and check size.

Portillo's Perks loyalty program for personalized engagement and retention

The Portillo's Perks program is an app-less loyalty system designed to reduce friction by living in a participant's digital wallet, tracking visits, and using transaction information to deliver specialized communications based on earned recognition badges. The brand initially targeted 1.5-1.7 million membership sign-ups by mid-summer 2025. By the second quarter of 2025, the program had grown to over 1.9 million members. The CFO indicated plans to shift from testing broader offers in Q2 2025 to implementing targeted offers in the back half of the year to better leverage consumer data. New Perks members receive a tangible incentive: a free large French fry with their first order of $5 or more.

Here's a look at key metrics related to customer traffic and loyalty program engagement through the first three quarters of 2025:

Metric Period	Same-Restaurant Sales Change	Transaction Change	Average Check Change
Q1 2025	+1.8%	-3.1%	+4.9%
Q2 2025	+0.7%	-1.4%	+2.1%
Q3 2025	-0.8%	-2.2%	+1.4%

The company's strategy relies on increasing the average check, as evidenced by menu price increases of approximately 1.5% in January 2025, 1.0% in April 2025, and 0.7% in June 2025, to offset commodity inflation which was forecast at 3% to 5% for the year.

High-touch, energetic, and fast in-store guest experience

Portillo's Inc. actively works on operational efficiency to enhance the in-store experience, particularly in the drive-thru channel. The company has a stated goal of cutting 45 seconds from drive-thru times. Management noted that every 30-second improvement in drive-thru throughput translates directly to a percentage point increase in comparable sales. The chain continues to invest in kiosks, which have paid off, and is rolling out AI-powered drive-thru technology. The company opened four new restaurants in the third quarter of 2025, bringing the total unit count to 100 as of Q3 2025, with 12 total new restaurants planned for the full year 2025.

Digital communication via email/app for targeted offers

Digital communication is primarily channeled through the Portillo's Perks program, which uses a digital card in the mobile wallet. Members can view their personalized offers via the email tied to their account. The shift to targeted offers in the second half of 2025 is intended to use collected data for more relevant marketing. For example, the December 2025 'Season of Surprises' promotion offered a free small Candy Cane shake with a minimum $5 purchase through December 7, 2025, exclusively to Perks members.

Customer service to manage catering and bulk orders

Portillo's Inc. supports catering and bulk orders through dedicated customer service channels. The company's overall revenue for the trailing twelve months ending September 28, 2025, was $730.93 million. The focus on operational improvements and efficiency, such as the drive-thru time reduction goal, supports the capacity to handle high-volume orders efficiently across all channels.

Portillo's Inc. (PTLO) - Canvas Business Model: Channels

The Channels block for Portillo's Inc. centers on a multi-pronged approach to reach its customer base, blending traditional high-volume physical sites with modern digital fulfillment options.

Physical restaurant locations remain the core channel, featuring several formats designed for different real estate opportunities. The brand operates both in-line formats and free-standing units, with the latter often including a double drive-thru capability, a feature of the newer Restaurant of the Future design. As of late 2025, Portillo's boasts a total of over 100 restaurants nationwide, with 95 locations reported in the U.S.. Illinois maintains the largest concentration, accounting for over 52% of the total, or 49 restaurants. Texas is a key growth market, having 11 locations as of late 2025.

The physical channel is evolving with new prototypes. The standard full-scale unit can be over 11,300 square feet, but newer, smaller builds under the Restaurant of the Future design are accelerating growth, such as a 7,700 square foot unit in Allen, Texas.

Metric	Value (As of Late 2025)	Context/Format Detail
Total U.S. Locations	Over 100 (or 95 reported)	Includes various formats like in-line and free-standing with drive-thru
Illinois Locations	49 (Approx. 52% of total)	Stronghold in the Midwest region
Texas Locations	11	Key market for recent expansion
New Units Opened in FY2025 (as of Q3)	4	Contributed to the 1.8% total revenue increase in Q3
Projected FY2026 New Units	8	Net build cost average projected to be less than $5 million per unit

Digital channels are critical for capturing off-premise demand, primarily through the dedicated Portillo's app and the company website for ordering. While specific digital sales percentages aren't public, the overall channel performance is reflected in the average check size, which increased by 1.4% in Q3 2025, partially offsetting a 2.2% drop in guest transactions. The company is actively managing technology risks associated with its digital ordering and payment platforms.

Third-party delivery services supplement the digital ordering infrastructure, facilitating off-premise sales across the existing footprint. The reliance on these services is managed alongside the internal digital platforms, as the company navigates the competitive landscape.

Catering and bulk ordering for events and groups is an established, though less quantified, channel. The menu supports large orders, featuring items like Italian beef sandwiches and chocolate cake, which are suitable for group consumption at events. The overall TTM revenue for Portillo's Inc. as of late 2025 was approximately $731M.

Future high-traffic locations represent a strategic channel expansion into unique, high-visibility venues. Portillo's is debuting its first airport location at DFW Airport in Terminal B, planned for 2026. This location will utilize a new small, dine-in only format, designed for efficiency with multiple ordering touchpoints and seating for more than 50 guests. This airport concept, along with a similar format in The Villages, Florida, is a milestone in expanding reach.

• DFW Airport location is slated to open in 2026.
• The new airport format will feature self-order kiosks and a Grab & Go area for travelers.
• The company expects to open 8 new restaurants in fiscal 2026, including the DFW airport unit.

Finance: review the capital allocation plan for the 8 expected 2026 builds by next Tuesday.

Portillo's Inc. (PTLO) - Canvas Business Model: Customer Segments

You're looking at the core groups Portillo's Inc. is targeting as they push growth beyond their home turf. Honestly, understanding these segments is key to seeing where the near-term revenue is coming from versus where the long-term bets are placed.

Loyal, established Chicagoland customer base

This is the bedrock, the folks who grew up on the Italian beef and chocolate cake. They are deeply entrenched, but even they are showing signs of pressure in this economic climate. The core market still represents the largest concentration of Portillo's sites, with 49 locations in Illinois alone. This concentration translates to roughly one Portillo's for every 258,610 residents in Illinois.

However, the established base isn't immune to the broader traffic challenges. For the third quarter ended September 28, 2025, same-restaurant sales saw a decrease of 0.8%. This dip was driven by a 2.2% drop in guest transactions. Management has updated the fiscal 2025 forecast to reflect a full-year same-restaurant sales decline between 1% and 1.5%.

Here's a quick look at the performance indicators for this segment:

• Comparable Restaurant Base for Q2 2025: 75 restaurants.
• Q3 2025 Same-Restaurant Sales Change: -0.8%.
• Q3 2025 Guest Transaction Change: -2.2%.
• Projected Full Year 2025 Same-Restaurant Sales Change: Decline of 1% to 1.5%.

New customers in expansion markets (Sunbelt, e.g., Texas, Florida, Georgia)

Portillo's Inc. is aggressively pursuing growth outside of the Midwest, betting on Sunbelt demographics. The strategy involves a measured pace, but the commitment to new markets remains clear. As of late 2025, the company is actively building out its presence in these regions.

The momentum in new store openings is what's currently driving top-line growth, even as comparable sales soften. For instance, restaurants opened in fiscal 2024 contributed $9.4 million to Q3 2025 revenue. The company opened four new restaurants in Q3 2025 across Florida and Texas. Furthermore, four more openings were planned for Q4 2025, including the brand's entry into the Atlanta, Georgia market. The total restaurant count reached 100 units last month.

Here's the breakdown of the expansion footprint as of the latest data:

Market Metric	Data Point	Context/Date
Total U.S. Locations (Approximate)	100 units	As of late 2025
Texas Locations	11	As of 2025
New Restaurants Opened in Q3 2025	4	Across Florida and Texas
Planned New Restaurants in Q4 2025	4	Mostly Sunbelt, including first Georgia location
Total New Restaurants Planned for FY 2025	8	Updated full-year target

Fast-casual diners seeking high-quality, differentiated food

This segment values the unique, craveable menu-the Chicago-style staples-and is willing to pay a bit more for that quality. You see this reflected in the average check growth, which is helping offset transaction declines. The company has used menu price adjustments to manage inflationary pressures, which directly impacts what this customer pays.

In Q2 2025, the same-restaurant sales increase of +0.7% was powered by an approximate 3.4% increase in the average check. This was achieved through menu price increases totaling approximately 3.3% across three incremental adjustments in Q3. To be fair, this higher check was partially offset by a 1.3% decline in product mix.

Digital-first customers utilizing delivery and mobile ordering

These customers prioritize convenience and technology integration. Portillo's Inc. is clearly investing here to capture off-premise sales, which is crucial in a tough traffic environment. The use of self-service kiosks is a key indicator of this segment's adoption of digital channels.

The adoption rate for in-store technology is quite high. Self-service kiosks are now used by 33% of guests. The company also has a long-standing direct-to-consumer shipping channel, Shop & Ship, which has been operating for over 20+ years.

High-traffic consumers in commercial and travel hubs

This group is captured opportunistically, often when they are traveling or in high-density commercial areas. The long-term plan definitely includes these locations, which serve as high-volume, high-visibility touchpoints for the brand outside of traditional suburban sites. Management has specifically mentioned plans to capture this base, projecting over 920 potential total units, including university campuses and airports.

The company is testing new formats to serve these consumers, such as its first in-line, walk-up restaurant format opened in Q3 2025. The overall revenue for Q3 2025 was $181.4 million.

Finance: draft 13-week cash view by Friday.

Portillo's Inc. (PTLO) - Canvas Business Model: Cost Structure

You're looking at the hard numbers driving Portillo's Inc.'s operational expenses as of late 2025, so let's lay out the key cost components.

The primary variable cost remains the cost of goods sold, which for the second quarter ended June 29, 2025, stood at 33.8% of revenues. This was an improvement from 33.9% in the prior year, even with commodity prices increasing by 1.9% during that quarter, with beef being a noted pressure point.

Labor costs are a significant fixed/semi-fixed component, facing ongoing wage pressure. Labor as a percentage of revenues rose to 25.7% in Q2 2025, up from 25.5% the year before. Management continues to estimate full-year labor inflation in the range of 3% to 4% for fiscal 2025. To be fair, hourly labor rates specifically saw an increase of 3.3% in the third quarter of 2025.

General and Administrative (G&A) expenses have been subject to revision as the company resets its strategy. The revised guidance for fiscal year 2025 G&A expense is set between $76 million to $79 million. For context, G&A in the third quarter of 2025 reached $20 million, representing 11% of that quarter's revenue.

Capital expenditures are heavily weighted toward expansion, though the cost per unit is being managed down. Capital expenditures for new unit builds in 2025 were targeted in the range of $5.2 million-$5.5 million per new restaurant, a reduction from 2024 costs. Looking ahead to 2026, the projected net build cost average is even lower, at less than $5 million per unit.

Fixed costs related to the physical footprint are also material, especially given the large-format nature of many Portillo's restaurants. Here's a quick look at the related operating expenses from Q2 2025:

Expense Category	Q2 2025 as % of Revenue	Year-over-Year Change in Expense ($)
Occupancy Expenses	Increased 0.2% from prior year (as % of revenue)	Increased $800,000 or 8.2%
Other Operating Expenses (Includes Utilities)	11.6%	Increased $2 million or 9.8%

The increase in Other Operating Expenses was driven by new restaurant openings, plus higher utility and repair/maintenance costs. The pressure on margins is clear when you see how these costs stack up against restaurant-level adjusted EBITDA margin, which was 23.6% in Q2 2025, down 90 basis points from the prior year.

The cost structure is also influenced by strategic spending in other areas:

• Commodity inflation forecast for fiscal 2025 is 3% to 5%.
• Total revenue growth guidance for fiscal 2025 was revised to 5% to 7%.
• Adjusted EBITDA growth guidance for fiscal 2025 was revised to flat to low single digits.

Finance: draft 13-week cash view by Friday.

Portillo's Inc. (PTLO) - Canvas Business Model: Revenue Streams

You're looking at the core ways Portillo's Inc. brings in money as of late 2025. It's a mix of the tried-and-true restaurant experience and newer digital avenues, all while managing the impact of inflation on what they charge.

The primary revenue driver is restaurant sales, which covers both in-store dining and the drive-thru. For the third quarter of fiscal year 2025, total revenue hit $181.4 million, representing a 1.8% increase year-over-year. This growth was heavily reliant on new locations, as non-comparable restaurants contributed $5.6 million to the total revenue increase for the quarter.

The performance of established locations, which make up the comparable restaurant base (76 restaurants for Q3 2025), showed a slight contraction. Same-restaurant sales decreased by 0.8% in Q3 2025. This decline was due to a 2.2% drop in customer transactions, which was partially offset by an increase in the average check of 1.4%.

Menu price increases are a key lever to boost the average check. The menu pricing actions contributed approximately 3.2% to the average check in the third quarter. This pricing power was partially offset by a negative 1.8% impact from product mix changes. Management indicated they do not foresee taking additional pricing actions for the remainder of the year, with the effective price increase for the fourth quarter estimated to be in the range of 2.5% to 3%.

Digital sales, encompassing the app, website, and third-party delivery, are an important component of the overall revenue mix, though specific revenue percentages aren't broken out in the latest reports. The company is focusing on leveraging its Portillo's Perks loyalty program and expanding reach through affiliate marketing and delivery partners to drive this channel.

Here's a quick look at the Q3 2025 revenue components and the full-year target:

Revenue Component/Metric	Amount/Percentage
Q3 2025 Total Revenue	$181.4 million
Revenue from Non-Comparable Restaurants (Q3 2025)	$5.6 million
Same-Restaurant Sales Change (Q3 2025)	-0.8%
Menu Price Contribution to Average Check (Q3 2025)	3.2%
Estimated Effective Price Increase (Q4 2025)	2.5% to 3%
Full Fiscal Year 2025 Revenue Guidance	$730-$733 million

Catering and bulk sales of key menu items are also a recognized revenue stream, with management highlighting plans to expand reach through these channels as part of their strategic reset. This is a way to capture larger orders outside the typical transaction flow.