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Entrepreneur
a day ago
- Business
- Entrepreneur
Billionaire In-N-Out Burger Heiress Moves Out of California
In-N-Out President Lynsi Snyder, 43, grew up in California, but says raising a family and doing business in the state has been difficult. In-N-Out Burger's president and owner is moving her family out of the state where the burger chain began. Lynsi Snyder, 43, who has been president of In-N-Out since 2010, sat down for an episode of the podcast "Relatable," and said that she and her family are moving from her home state of California to Tennessee, where In-N-Out is opening a new office. "We're building an office, so I'm actually moving out there," Snyder said on the podcast that aired on Friday. "There [are] a lot of great things about California, but raising a family is not easy here. Doing business it's not easy here now." Related: Forget the Six-Figure UPS Gig. You Can Make $180,000 at In-N-Out, Writes Burger Heiress Lynsi Snyder in Her New Book. In January 2023, In-N-Out announced that it's opening its first East Coast restaurant in Nashville, Tennessee, and building its first East Coast headquarters about 20 miles away in Franklin, which will cost $125 million to construct. The burger chain plans to spread across Tennessee, expanding to Chattanooga, Knoxville, and Memphis, opening more than a dozen locations. In-N-Out is also opening new locations in Arizona, California, and Colorado this year and debuting its first location in Washington. Snyder, who grew up in Northern California, said on the podcast that "the bulk" of In-N-Out stores are still going to be in the state, but that she is looking forward to having more of a footprint in Tennessee. "It will be wonderful having an office out there, growing out there, and being able to have the family and other people's families out there," Snyder said on the podcast. In-N-Out will also be consolidating its two existing California corporate offices, moving its Irvine headquarters to Baldwin Park, where the first In-N-Out location opened in the 1940s. Snyder disclosed on the podcast that the Irvine office will close by 2030 to complete the consolidation. According to the California Department of Justice, the violent crime rate in the state increased 15.1% from 2018 to 2023. According to Statista, around 3,640 violent crimes per 100,000 residents were reported in Oakland, California, in 2023, making Oakland the most dangerous city in the U.S. that year. Snyder said last year that rising crime and "absolutely dangerous" conditions caused In-N-Out to shut down a restaurant in Oakland in March 2024, marking the first time in the burger chain's 77-year history that it had to shutter a restaurant. Snyder said that the company closed the profitable Oakland location "for the safety of our associates," adding that "gunshots went through the store, there was a stabbing, there was a lot." Related: In-N-Out Burger Is Opening New Locations Outside of California — Here's Where It's Going Next Snyder's grandparents, Harry and Esther Snyder, founded In-N-Out in 1948 as a single drive-thru hamburger restaurant in Baldwin Park, California. Today, the company has grown to more than 400 locations that bring in $2.1 billion a year, according to consulting firm Technomic. Snyder took over In-N-Out in 2017 at age 35 when she received the final portion of her inheritance that gave her 97% ownership of the company. She became one of the world's youngest billionaires in the process. In-N-Out differentiates itself from competitors by vowing to never freeze ingredients and crafting fresh-to-order burgers. The company has also never franchised, remaining privately owned. According to the Bloomberg Billionaires Index, Snyder has a net worth of $7.32 billion, making her the 483rd richest person in the world. Join top CEOs, founders and operators at the Level Up conference to unlock strategies for scaling your business, boosting revenue and building sustainable success. Related: In-N-Out Burger Is Moving East. Is It Coming to Your State?
Yahoo
2 days ago
- Business
- Yahoo
In-N-Out billionaire Lynsi Snyder says her family will leave California along with the company's headquarters: 'Doing business is not easy here'
In-N-Out's billionaire owner, Lynsi Snyder, told the "Relatable" podcast she's moving to Tennessee. She cited challenges running her business and raising her family in California. In-N-Out is consolidating its California offices and opening a new headquarters in Tennessee. In-N-Out's billionaire owner, Lynsi Snyder, is done with California. Speaking on the "Relatable" podcast released Friday, Snyder said she's moving to Tennessee as the cult burger chain plans its southeastern expansion and establishes a new headquarters in the suburbs outside Nashville. "There's a lot of great things about California, but raising a family is not easy here. Doing business is not easy here," Snyder said. During the conversation with host Allie Beth Stuckey, Snyder cited COVID-era business restrictions, such as mask mandates and vaccine requirements, as particular elements of California policy that made it difficult to operate in the state. In 2021, health officials temporarily shut down several In-N-Out locations in California because the chain refused to require proof of COVID-19 vaccinations. Snyder didn't expand upon her current business challenges or the challenges she's faced raising her four children in the state. In-N-Out is consolidating its corporate presence in California, centralizing its West Coast operations out of offices in Baldwin Park, where the chain was founded by Snyder's grandparents, and phasing out its Irvine headquarters by 2030. Its new Franklin, Tennessee headquarters is set to open in 2026. "Now the bulk of our stores are still going to be here in California, but it will be wonderful having an office out there, growing out there, and being able to have the family and other people's families out there," Snyder said. While the chain is planning to expand in the Southeast with its operations in Tennessee, Snyder said she's "still saying no" to opening locations in Florida and other East Coast states. In-N-Out has over 400 locations across eight states: California, Nevada, Arizona, Utah, Texas, Oregon, Colorado, and Idaho. Snyder said that the company will continue to grow, but she's prioritizing sustainable expansion that maintains the quality of its products and service. "Number one priority is really keeping the company the same company that my grandparents started," Snyder said. "We don't want to be in every state, and we don't want to ever compromise our values and standards and the cornerstones that my grandparents laid down, so it's really just keeping those priorities at the forefront when we make decisions." Representatives for In-N-Out did not immediately respond to a request for comment from Business Insider. Read the original article on Business Insider Sign in to access your portfolio
Yahoo
2 days ago
- Business
- Yahoo
In-N-Out billionaire Lynsi Snyder says her family will leave California along with the company's headquarters: 'Doing business is not easy here'
In-N-Out's billionaire owner, Lynsi Snyder, told the "Relatable" podcast she's moving to Tennessee. She cited challenges running her business and raising her family in California. In-N-Out is consolidating its California offices and opening a new headquarters in Tennessee. In-N-Out's billionaire owner, Lynsi Snyder, is done with California. Speaking on the "Relatable" podcast released Friday, Snyder said she's moving to Tennessee as the cult burger chain plans its southeastern expansion and establishes a new headquarters in the suburbs outside Nashville. "There's a lot of great things about California, but raising a family is not easy here. Doing business is not easy here," Snyder said. During the conversation with host Allie Beth Stuckey, Snyder cited COVID-era business restrictions, such as mask mandates and vaccine requirements, as particular elements of California policy that made it difficult to operate in the state. In 2021, health officials temporarily shut down several In-N-Out locations in California because the chain refused to require proof of COVID-19 vaccinations. Snyder didn't expand upon her current business challenges or the challenges she's faced raising her four children in the state. In-N-Out is consolidating its corporate presence in California, centralizing its West Coast operations out of offices in Baldwin Park, where the chain was founded by Snyder's grandparents, and phasing out its Irvine headquarters by 2030. Its new Franklin, Tennessee headquarters is set to open in 2026. "Now the bulk of our stores are still going to be here in California, but it will be wonderful having an office out there, growing out there, and being able to have the family and other people's families out there," Snyder said. While the chain is planning to expand in the Southeast with its operations in Tennessee, Snyder said she's "still saying no" to opening locations in Florida and other East Coast states. In-N-Out has over 400 locations across eight states: California, Nevada, Arizona, Utah, Texas, Oregon, Colorado, and Idaho. Snyder said that the company will continue to grow, but she's prioritizing sustainable expansion that maintains the quality of its products and service. "Number one priority is really keeping the company the same company that my grandparents started," Snyder said. "We don't want to be in every state, and we don't want to ever compromise our values and standards and the cornerstones that my grandparents laid down, so it's really just keeping those priorities at the forefront when we make decisions." Representatives for In-N-Out did not immediately respond to a request for comment from Business Insider. Read the original article on Business Insider
Yahoo
2 days ago
- Business
- Yahoo
In-N-Out billionaire Lynsi Snyder says she is leaving California: 'Doing business is not easy here'
In-N-Out's billionaire owner, Lynsi Snyder, told the "Relatable" podcast she's moving to Tennessee. She cited challenges running her business and raising her family in California. In-N-Out is consolidating its California offices and opening a new headquarters in Tennessee. In-N-Out's billionaire owner, Lynsi Snyder, is done with California. Speaking on the "Relatable" podcast released Friday, Snyder said she's moving to Tennessee as the cult burger chain plans its southeastern expansion and establishes a new headquarters in the suburbs outside Nashville. "There's a lot of great things about California, but raising a family is not easy here. Doing business is not easy here," Snyder said. During the conversation with host Allie Beth Stuckey, Snyder cited COVID-era business restrictions, such as mask mandates and vaccine requirements, as particular elements of California policy that made it difficult to operate in the state. In 2021, health officials temporarily shut down several In-N-Out locations in California because the chain refused to require proof of COVID-19 vaccinations. Snyder didn't expand upon her current business challenges or the challenges she's faced raising her four children in the state. In-N-Out is consolidating its corporate presence in California, centralizing its West Coast operations out of offices in Baldwin Park, where the chain was founded by Snyder's grandparents, and phasing out its Irvine headquarters by 2030. Its new Franklin, Tennessee headquarters is set to open in 2026. "Now the bulk of our stores are still going to be here in California, but it will be wonderful having an office out there, growing out there, and being able to have the family and other people's families out there," Snyder said. While the chain is planning to expand in the Southeast with its operations in Tennessee, Snyder said she's "still saying no" to opening locations in Florida and other East Coast states. In-N-Out has over 400 locations across eight states: California, Nevada, Arizona, Utah, Texas, Oregon, Colorado, and Idaho. Snyder said that the company will continue to grow, but she's prioritizing sustainable expansion that maintains the quality of its products and service. "Number one priority is really keeping the company the same company that my grandparents started," Snyder said. "We don't want to be in every state, and we don't want to ever compromise our values and standards and the cornerstones that my grandparents laid down, so it's really just keeping those priorities at the forefront when we make decisions." Representatives for In-N-Out did not immediately respond to a request for comment from Business Insider. Read the original article on Business Insider
Yahoo
3 days ago
- Business
- Yahoo
In-N-Out billionaire Lynsi Snyder says she is leaving California: 'Doing business is not easy here'
In-N-Out's billionaire owner, Lynsi Snyder, told the "Relatable" podcast she's moving to Tennessee. She cited challenges running her business and raising her family in California. In-N-Out is consolidating its California offices and opening a new headquarters in Tennessee. In-N-Out's billionaire owner, Lynsi Snyder, is done with California. Speaking on the "Relatable" podcast released Friday, Snyder said she's moving to Tennessee as the cult burger chain plans its southeastern expansion and establishes a new headquarters in the suburbs outside Nashville. "There's a lot of great things about California, but raising a family is not easy here. Doing business is not easy here," Snyder said. During the conversation with host Allie Beth Stuckey, Snyder cited COVID-era business restrictions, such as mask mandates and vaccine requirements, as particular elements of California policy that made it difficult to operate in the state. In 2021, health officials temporarily shut down several In-N-Out locations in California because the chain refused to require proof of COVID-19 vaccinations. Snyder didn't expand upon her current business challenges or the challenges she's faced raising her four children in the state. In-N-Out is consolidating its corporate presence in California, centralizing its West Coast operations out of offices in Baldwin Park, where the chain was founded by Snyder's grandparents, and phasing out its Irvine headquarters by 2030. Its new Franklin, Tennessee headquarters is set to open in 2026. "Now the bulk of our stores are still going to be here in California, but it will be wonderful having an office out there, growing out there, and being able to have the family and other people's families out there," Snyder said. While the chain is planning to expand in the Southeast with its operations in Tennessee, Snyder said she's "still saying no" to opening locations in Florida and other East Coast states. In-N-Out has over 400 locations across eight states: California, Nevada, Arizona, Utah, Texas, Oregon, Colorado, and Idaho. Snyder said that the company will continue to grow, but she's prioritizing sustainable expansion that maintains the quality of its products and service. "Number one priority is really keeping the company the same company that my grandparents started," Snyder said. "We don't want to be in every state, and we don't want to ever compromise our values and standards and the cornerstones that my grandparents laid down, so it's really just keeping those priorities at the forefront when we make decisions." Representatives for In-N-Out did not immediately respond to a request for comment from Business Insider. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
