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A franchise is merely a temporary business investment involving renting or leasing an opportunity, not the purchase of a business for the purpose of ownership. It is classified as a wasting asset due to the finite term of the license. Franchise fees are on average 6.7% with an additional average marketing fee of 2%. [10]
Branding himself "Colonel Sanders", the founder became a prominent figure of American cultural history, and his image remains widely used in KFC advertising. The company's rapid expansion made it too large for Sanders to manage, so in 1964 he sold the company to a group of investors led by John Y. Brown Jr. and Jack C. Massey.
The group in May 2018 announced its plan for a further shift to the franchising model within the next five years in a bid to boost the company's growth. At that time 69 of the Max's Group shares are owned by the company while the rest are largely owned by its franchise stores. [4] In November 2024, the Group's third-quarter net income dropped ...
The Insta-Broiler oven proved so successful at cooking burgers, they required all of their franchises to carry the device. After the original company began to falter in 1959, it was purchased by its Miami, Florida, franchisees James McLamore and David R. Edgerton. The two initiated a corporate restructuring of the chain; the first step being to ...
The company known today as Burger King itself began as a franchise; the predecessor of the modern company was founded in 1953 in Jacksonville, Florida, as Insta-Burger King. The original founders and owners, Keith J. Kramer and Matthew Burns, opened their first stores around a piece of equipment known as the Insta-Broiler.
RE/MAX was founded in January 1973 by Dave Liniger and Gail Main (who later married Liniger and became Gail Liniger) in Denver, Colorado. [5] [6] [7]The company was established with a maximum commission concept, meaning that agents would keep nearly all of their commissions and pay their broker a share of the office expenses, rather than paying their broker a share of the commission of each ...