Many people know Shake Shack today as their go-to for gourmet burgers and unforgettable fast food milkshakes, but some will remember when the chain started out as a humble kiosk. Back in 2001, the management of Madison Square Park had fallen by the wayside, and New York City was attempting a revival project. Part of this effort was headed by restaurateur Danny Meyer, who opened a hot dog cart. Meyer already had years of experience under his belt, particularly in fine dining. His goal in the park was to leverage that knowledge into a more casual dining experience, and it soon took off.
In 2004, Meyer proposed plans and submitted a bid for a permanent kiosk — and won. Thus, the first Shake Shack was born, and it still stands in its original location over 20 years later. Since then, the chain has expanded to over 400 locations globally and serves in 20 countries. By the time Shake Shack began trading publicly, there was clear interest and support. Shares opened at just $21, and on its very first day of trading on the New York Stock Exchange, they had increased to $47. In its two decades of operations, the chain has earned a net worth of nearly $6 billion as of June 2025.
What makes Shake Shack so good?
Shake Shack takes a lot of pride in its food, and Danny Meyer has clearly impressed some tenets of fine dining onto the chain. It famously stands among the fast-food chains that always use fresh, never-frozen hamburger meat, and its patties are 100% Angus beef. Its offerings are fairly diverse, yet the quality remains consistent — even across hundreds of locations. Its gourmet burger toppings set it apart from the competition, so diners feel like they’re getting an elevated experience at fast food prices. That said, Meyer famously did away with tipping at his restaurants in 2015 and instead increased all the prices in an effort to make wages more equal across all workers. He has since had to backtrack that policy in light of the 2020 pandemic and general worker dissatisfaction with it.
So, does Shake Shack beat out every local establishment? No — people still support their local small businesses, which offer a more homey feel than a chain can. However, when comparing it among peers, Shake Shack often comes out on top. Ina Garten loves a Shake Shack fried chicken sandwich, and former presidents Barack Obama and Joe Biden used to enjoy lunch meetings at the Shack, too. There’s hardly a better endorsement than that, right?
