Burger King Marketing Mix
Burger King, often abbreviated as BK, is a global chain of hamburger fast food restaurants headquartered in unincorporated Miami-Dade County, Florida, United States. Burger King Holdings is the parent company of Burger King; in the United States it operates under the Burger King Brands title while internationally it operates under the Burger King Corporation banner. The company began as a Jacksonville, Florida-based restaurant chain in 1953. Originally called Insta-Burger King. After the company ran into financial difficulties in 1955, its two Miami-based franchisees, David Edgerton and James McLamore, purchased the company and rechristened it Burger King. Over the next half century the company would trade hands four times, with its third set of owners, a partnership of TPG Capital, Bain Capital, and Goldman Sachs Capital Partners, taking the company public in 2002. The current ownership group, 3G Capital of Brazil, acquired a majority stake in the company in a deal valued at $3.26 billion (bn) in late 2010.
At the end of fiscal year 2010, Burger King reported it has more than 12,200 outlets in 73 countries; 66% are in the United States and 90% are privately owned and operated. The company has more than 38,800 employees serving approximately 11.4 million customers daily. Over the course of its history the company has used several variations of franchising to expand its operations. In North America, franchises are licensed on a per store basis, while in several international locations licenses are sold on a regional basis with franchises owning exclusive development rights for the region or country. These regional franchises are known as master franchises, and are responsible for opening new restaurants, licensing new third party operators, and performing standards oversight of all restaurant locations in these countries; the largest example of a master franchise is Hungry Jack 's, which exclusively owns, operates or sub-licenses over 300 restaurants in
At the end of fiscal year 2010, Burger King reported it has more than 12,200 outlets in 73 countries; 66% are in the United States and 90% are privately owned and operated. The company has more than 38,800 employees serving approximately 11.4 million customers daily. Over the course of its history the company has used several variations of franchising to expand its operations. In North America, franchises are licensed on a per store basis, while in several international locations licenses are sold on a regional basis with franchises owning exclusive development rights for the region or country. These regional franchises are known as master franchises, and are responsible for opening new restaurants, licensing new third party operators, and performing standards oversight of all restaurant locations in these countries; the largest example of a master franchise is Hungry Jack 's, which exclusively owns, operates or sub-licenses over 300 restaurants in