Burger King Franchise
Burger King (BK) was founded in the city of Jacksonville in Florida state in July 1953 by Matthew Burns and Kieth Kramer; it was originally called “Insta Broiler”. The company started to have financial difficulties six years later and in 1959 and it was purchased by David Edgerton and James McLamore who then renamed it to Burger King, and moved to new headquarters in the city of Miami, Florida.
The now formed company enjoyed an increasing popularity and in 1967 it was sold to the Pillsbury Company.
After many years of attempts aimed at reinventing the brand, BK was sold in 2002 by Diageo to Texas Pacific Group, Bain Capital Partners and Goldman Sachs Capital Partners.
Nowadays, the brand has well over 12,000 units in 73 countries and it was declared as one of the most important 1,000 American corporations and one of the 100 Best Global Brands. At the time of writing the price per share of common stock currently stands at $23.99 at the NYSE.
The Burger King menu includes chicken, beef and fish sandwiches, salads, desserts, salads, French fries and various types of drinks, including coffee, shakes and sundaes. The most well-known Burger King product is, without a doubt, the Whooper. At BK, customers are encouraged to mix and match ingredients and have their food prepared the way they desire. Furthermore, BK makes customers return to their restaurants by making use of numerous promotions and campaigns.
Costs and Requirements of associated with running a Burger King Franchise
Though it is a large investment, a Burger King franchise may be highly profitable for people who are interested in the fast food industry. Currently the company is trying to open as many new worldwide units as possible. In total the investment ranges from between $294,000 and $2,800,000. The franchise fee is $50,000, with an ongoing royalty fee of 4.5%, on a renewable initial period of 20 years plus a monthly advertising contribution consisting in 4% of the gross salaries. However, in order to open a Burger King restaurant, franchisees are required to have at their disposal cash liquidities valuing $500,000 and $1,500,000 net worth, experience in the fast food or restaurant industry, marketing skills and a general knowledge of economics. The mother company guarantees a toll-free phone line, a grand opening and an important advertising campaign at both regional and national level. Additionally, each franchisee will be specially trained in order to get familiar with the BK culture and way do doing business. The training program consists in 73 days of classroom training and a mandatory 80 hours New Franchisee Orientation plus up to seven weeks of in-restaurant training.
Any person, who is interested in opening a new franchise, should complete the questionnaire on the company’s official website to see if they really are the person for this job.
If you are interested in this franchise, please contact the company at the headquarters’ address, 5505 Blue Lagoon Dr., Miami, Florida,
phone number ((866)546-4252)