#franchising

#franchising

When Covid struck and most people stayed inside their houses or apartments, Kennedy realized that Frios "was a business that needed to pivot to survive."

By the 1970s, just a decade into its operation under businessman Ray Kroc, McDonald's was already a thriving company that had served millions of customers.

The key distinction between chain restaurants and franchises lies in ownership and operational control; chain eateries are corporate-owned, while franchises feature independent operators.

"Franchising success comes from understanding the business from all perspectives... allowing me to lead with empathy and a shared vision." - Wan Kim, CEO, Smoothie King

"There's a misconception that owning a franchise is for people who want to follow someone else's playbook. But that notion doesn't account for all the unique franchises popping up that allow franchisees to pursue their passions."

The Franchise 500 list demonstrates that the best franchises come in all shapes and sizes, ranging from those established in 1925 to new entrants like Spark by Hilton in 2023.

Peter Cancro’s journey from a teenager flipping sandwiches to the founder of a multi-billion dollar sandwich chain illustrates the power of entrepreneurship and strategic franchising. His sale of Jersey Mike's to Blackstone has not only elevated his personal fortune to $7.5 billion, placing him notably on the Bloomberg Billionaires Index, but also showcases the rapid growth of the chain from one store to approximately 3,000 locations, demonstrating a successful business model that emphasizes expansion and brand recognition.

Wingstop has opened 138 new locations in 2024, bringing its total to 2,352, almost double from six years ago, demonstrating rapid growth despite industry challenges.

Feig's ability to navigate multiple genres demonstrates his versatility as a director, bringing distinct elements of action, humor, and suspense to his projects.