The KFC Business Model
The Colonel began franchising his chicken business in 1952 by traveling from town to town and cooking batches of chicken for restaurant owners and employees. The Colonel awarded Pete Harman of Salt Lake City with the first KFC franchise. A handshake agreement stipulated a payment of a nickel to Sanders for each chicken sold. Sanders sold his interest in the U.S. company for $2 million to a group of investors headed by John Y. Brown Jr., future governor of Kentucky. The Colonel remained as public spokesman for the company. In 1966, the KFC went public. KFC was listed on the New York Stock Exchange in 1969. More than 3,500 franchised and company-owned restaurants were in worldwide operation when Heublein Inc. acquired KFC Corporation in 1971. On 16 December 1980, Colonel Harland Sanders, who came to symbolize quality in the food industry, died of leukemia. Flags in all Kentucky state buildings fly at half-staff for four days.
The report about new business plan-KFC
Category: Uncategorized Pages: 8 Type: Essay Level: Bachelor Style: Harvard
A Kentucky Fried Chicken (KFC) franchise operation will offer several advantages. Franchise operator will have the benefits of well-established name, brand, and reputation. This franchise would also provide a strong brand or trademark of the fast food concept, a proven business system, extensive training and further product development, along with a number of initial and on-going managerial support services. It is also likely that the franchisor brand name would help the operator secure funding and offer benefits, including discounted supplies. Additional advantages would be reduced research and development costs, access to training, access to franchisor's marketing and advertising campaigns and guaranteed quality control and standards. However clinching fact would be the expected enthusiastic response from... [continues]
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