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Burger King Franchise project

Burger King Franchise project. By: Evan Johnson. Burger king history. Burger King Corp was founded in 1954 James McLamore and David Edgerton started the business After 5 years of business the corporation turned into a franchise The fast food restaurant quickly spread through the country

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Burger King Franchise project

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  1. Burger King Franchise project By: Evan Johnson

  2. Burger king history • Burger King Corp was founded in 1954 • James McLamore and David Edgerton started the business • After 5 years of business the corporation turned into a franchise • The fast food restaurant quickly spread through the country • In 1963 the very first Burger King opened outside of the United States • Pillsbury bought Burger King in 1967 after being privately owned for 13 years • Grand Metropolitan eventually bought Pillsbury and expanded even more across Europe

  3. What they sell • Burger King is known for its different assortments of burgers • Their most famous of them all is the Whopper • They also sell sandwiches with chicken, fish, steak, and ham on them • Breakfast items were even added to the menu in order to compete with other chains • Items to promote health, like apples, were even introduced by Burger King

  4. How well are they doing? • Currently the company is the second largest fast food hamburger chain in the world with over 7,200 chains in the US and 12,300 worldwide • They serve more than 11 million guests worldwide • On average they make a net income of 200 million dollars per year • Because of this they are ranked the number 5 franchise but this number is dropping • The franchise is declining mainly because of the success of other franchises like McDonalds and Subway

  5. The Future and Giving Back • In order to keep the company alive Burger King plans to unveil new things in the future • No one is sure what these things could be but it could possibly help their company • Not only do they plan on bringing new things to earn more money the company also gives back to the community • The Burger King Mclamore Foundation was started in order to make a difference in the community no matter where that has to be

  6. How to start a franchise • If you feel as if your business is worth franchising there are a few step you must go through • First, according to the law, you have to fill out a Uniform Franchise Offering Circular that lays out your franchise operations • There ae also state by state laws in obtaining a franchise that have to be completed • You also are going to have to deal with a lot of fees

  7. Fees • When starting a franchise you have to keep prices in mind • Things can get expensive and crazy without control • To get a franchise you need to pay a startup fee and additional expenses • The average franchise costs between 20 to 50 thousand to start • You also need to be prepared to pay for you legal expenses, employee expenses, and even inventory expenses • There are multiple ways to cover the costs of you franchise • One way is to use the company revenue to pay for them • You can also you personal funds to cover costs • Sometimes banks will even give out loans to people to pay fees

  8. Requirements • The owner is the most important person in the franchise • Success or failure can come solely from an owner • The owner is in charge of fees for the franchise • They manage what needs to be paid, when, and how it needs to be paid • The owner is also in charge of initial hiring and training of employees • The owner is also in charge of making sure that the franchise is running right legally, and financially

  9. Contacting companies • There are many types of franchises • Private ownership or public ownership • Privately owned companies are franchised mainly by the owner themselves • Public franchises are owned by an even larger company who oversees the entire process • In order to get a public franchise a company either has to offer to buy you out or you must go to them and convince them • Either way in the end you will have a fully functioning franchise • Some companies that own franchises are Pillsbury and Grand Metropolitan

  10. Work Cited • http://www.bk.com/en/us/company-info/about-bk.html • http://ezlocal.com/blog/post/10-Largest-Fast-Food-Chains-in-the-US.aspx • http://www.franchisedirect.com/top100globalfranchises/rankings/ • http://www.entrepreneur.com/article/66178 • http://franchises.about.com/od/franchisebasics/tp/how-much-does-a-franchise-cost.htm

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