CHIPOTLE IS EXPENSIVE!

When I was in high school, Chipotle came to town and my friends were obsessed. We even had this one friend who would buy a burrito and sneak it into the movies. We’d be eating popcorn and he’d be unwrapping the foil wrapper.

But I never really liked Chipotle because I didn’t like bell peppers. It wasn’t until someone told me Chipotle was customizable that I became a fan.

A steak burrito with guac ran me just under $10 years ago. In 2008, I put Chipotle on my recession wish list. It was $38 a share. Unfortunately for me, it was just on my wishlist and never ended up in my actual portfolio. Since then, the stock has climbed to over $1400 per share. They’ve never issued a split. And I bet they won’t any time soon.

Chipotle likes exclusivity. They like that they’re expensive. And they like that their food is expensive, too. It’s the thing that sets them apart from traditional cheap fast food. A burrito with guac and a large soda will run you almost $20 these days. Add double meat and it jumps to almost $25. For one burrito — that I personally think is a literal sodium bomb. But that’s just me …

Despite inflation, they’ve continued to do well, despite some noticeable changes in quality. Not to mention most restaurants I go to these days (I go a few times per year) are filthy and often out of something that will take 10-15 minutes to cook.

They’ve even tested but eventually rejected a more affordable “dollar menu.” I don’t blame them. A more affordable menu option makes it … affordable. And that’s not the market they want to corner.