Kentucky Fried Chicken(KFC) is a fast food restaurant chain that is popular for its fried chicken recipe. Most of us would have tasted their fried chicken at least once as their outlets are spread all over the world. KFC is the 2nd largest restaurant chain in the world after McDonald’s operating in more than 21,000 locations worldwide. Scroll down to know more the history and net worth of KFC in 2018.
Harland Sanders began to serve his special recipe of fried chicken to travelers who came to his Shell filling station on US Route 25 during the early 1930s. After serving travelers in his own dining room for several years, he bought a larger filling station opposite to the old one where he could accommodate six tables. The recipe became famous all around Kentucky, and by 1937 Sanders expanded the restaurant to 142 seats and named it Sanders Court & Cafe.
He finalized the recipe with 11 herbs and spices in 1940 and enjoyed huge fame and popularity in and around Kentucky. He sold his properties in 1955 and traveled around the United States to franchise his recipe which he already did in 1952 through his friend Pete Harman.
Sign painter Don Anderson coined the name Kentucky Fried Chicken for Pete Harman, and the latter came up with the phrase “It’s finger-lickin’ good.” The famous bucket meal in a cardboard bucket was introduced in 1957, and by 1963 KFC became the largest fast food chain in the US with 600 restaurants.
Sanders sold the company for $2 million to a group of investors in 1964 with a lifetime salary and quality controller position. The franchise spread to 48 countries in 1970, and in 1971 it was sold to the packaged food and drinks corporation Heublein for $285 million.
The company was acquired by R.J. Reynolds in 1982 only to be sold to PepsiCo in 1986 for $850 million. The restaurant entered China through PepsiCo in 1987. Many new recipes were included to the menu in the 1990s such as Hot Wings, Popcorn Chicken, and Zinger Burger.
PepsiCo named its restaurant division as Tricon Global Restaurants which was changed to Yum! Brands in 2002. Presently, the restaurant operates in more than 21,000 locations worldwide but is struggling to emulate the business it did a few years ago.
Awards & Achievements
The franchise has won several awards over the years so far, but its biggest achievement is being the second largest restaurant chain the world operating in more than 21,000 locations.
Net Worth & Earnings
The annual revenue of the franchise is reported to be more than $23 billion. The market capitalization of its parent company is estimated to be around $28.3 billion which also includes Pizza Hut and Taco Bell. As of now, the fast-food restaurant chain’s net worth is estimated to be more than $15 billion.
The man behind this fried chicken empire Harland Sanders was once considered a failure by people around him as he achieved only mediocre success in whatever he did. It took him 40 years to prove himself and doing so he showcased the world that success can knock your doors anytime.