NEW YORK (TheStreet) -- Shake Shack (SHAK) went public earlier this year and saw its share price soar, more than doubling from its original pricing. 

It's a great company that now has an "extraordinary" valuation, said Scott Crane, the CEO of Smashburger. The privately held burger chain doesn't have plans for an IPO at the moment. Crane said that the company will focus on ong-term growth.  

In 2015, Crane expects to see 20% to 25% growth. He also expects that growth to continue for the next three to four years. He intends to expand to roughly 75 to 80 new locations this year, 30 of which will be corporate-owned. 

He said that an IPO isn't off the table, but that it's not part of his plans at the moment. The company's current partners are great, he added. 

"We're bringing back burgers for burger lovers," Crane said when asked about competition from fast-food juggernauts like McDonald's (MCD - Get Report). While there's nothing wrong with breakfast menus and coffee, it's not exactly catering to the burger lover. 

That's why speciality burger companies like Smashburger and Shake Shack have found so much success in recent years. 

SHAK Chart
Shake Shack SHAK data by YCharts

Smashburger's use of high quality ingredients is also a draw, especially for Millennial customers who pay attention to their quality of food. 

The shift to fast casual dining has taken hold and the growth should be strong, Crane said. He explained that it's not just his company benefiting from this shift, but others too, including Panera Bread Company (PNRA) and Chipotle Mexican Grill (CMG - Get Report). 

The high quality ingredients, dining environment and delicious burger practically sells itself when it comes to finding franchise owners, he said. 

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.