KFC is also called with the name Kentucky Fried Chicken. It’s an American fast food restaurant chain which has gained massive popularity from the time it was first established 88 years ago on March 20, 1930. The founder of this huge restaurant chain is Harland Sanders. Today KFC has numerous of the franchise all over the world. But the very first franchise was set up in Utah in the year 1952, which is approximately 66 years ago. And since then this food chain restaurant has never turned back.
KFC is one the world’s second largest restaurant chains in the world after Mc Donald’s. This is also the first American restaurant to expand its business in other foreign countries. It has firmly established itself in 123 different countries and it is set up in 20,000 different locations all across the world. The headquarters of KFC lies in Texas, US. Its annual revenue is considered to be approximately US $ 23 billion. The original product of KFC is pressure fried chicken pieces, seasoned with different herbs and spices.
Also Read: KFC Customer Satisfaction Survey
The ownership of KFC:
At present KFC is a subsidiary of a restaurant company name “Yum! Brands”. This restaurant company also owns other famous food chains like Pizza Hut, Taco Bells and WingStreet. But there has been a lot of juggling done with the owners the KFC in the past. At first, Harland Sanders was the founder and the owner of the KFC. And under his ownership, there were 600 restaurants opened in the United States.
- In 1964, Harland’s sold this company to a group of investors – John y Brown Jr. and Jack C Massay for the US $ 2 million and the contract also included that Sanders would be paid a salary every month for lifetime. By this time the chain had managed to open 3000 outlets in 48 countries till the year 1970.
- In 1971, KFC was sold to Heublein which was owned by R J Reynolds, the tobacco giant.
- In 1980 Sanders died.
- In July 1986, R J Reynolds sold the company to PepsiCo for $850 million. Then PepsiCo made this restaurant a part of its restaurant division. Here KFC shares it with Pizza Hut and Taco Bell.
- In August 1997, PepsiCo spun off its restaurant divisions as a public company valued at the US $ 4.5 billion. This new company was named as Tricon Global Restaurants. Later in 2002, it was renamed as Yum! Brands.
In this way, the ownership of KFC has shifted from one company to another. And today finally it is working successfully in 123 different countries all over the world. With time KFC has also made changes in its methods. These were done to attract more customers so as to increases revenue growth. There have been changes made in the uniform of the KFC workers, the décor of the Kfc restraints; they have also revamped their packing. Other than this they also went on to expand their menu taking inspiration from the local food of the different places where the outlets are present.