Hamburger Juggernaut

I cannot think of a business category more “tired” than fast food–especially hamburgers. Despite this, Five Guys, a fast-food franchise with a very un-glamorous name and simplistic business model, has managed to re-invent this category. Starting out about 23 years ago in the Washington DC area, Five Guys now has about 450 locations scattered across the U.S. and (by the looks of their Store Locator map) a bunch in Central America. I am not especially picky about food, but I generally do not eat hamburgers, and I never go to a fast food joint for a buger–or at least I didn’t until a Five Guys recently opened up in our nearest town. The burgers and fries are exceptionally good, but I am almost more impressed with the business...