Episode
Chain Restaurants and the Interstate
- Podcast
- Preferred Shares Podcast
- Published
- Oct 28, 2024
- Duration seconds
- 4624
- Processing state
not_requested
Actions
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Summary
Welcome to Episode 15 of the Preferred Shares Podcast. In this episode—another in our series on the beneficiaries of the spending on the interstate highway system of the United States —we take turns discussing Howard Johnson’s, McDonald’s, and KFC. In this episode The Johnson’s family cigar business Howard Johnson quitting school at age 12 Worked at a drug store until buying it out, expanding sales Johnson’s ice cream becomes hugely popular Great Depression forces a pivot - franchises WWII forces more changes 1959 IPO and continued growth 70’s struggles leading to an eventual buyout by Imperial Group PLC in 1979 Imperial eventually sells to Marriott in 1985 The first McDonald’s Revamps, simplifications, and innovations Ray Kroc’s entrepreneurial spirit Kroc drops out of school at age 15 Countless business ideas and odd jobs The Silent Night club’s simplified menu leaves a lasting impression Becoming a disposable cup salesman Cups leading Ray to Prince Castle and the Multimixer WWII almost killing the mixer industry due to copper constraints The Multimixer leading Ray to the McDonald brothers An immediate realization of opportunity Rapid expansion due to Harry Sonneborn, Franchise Realty Corp, mass marketing of automobiles, post-war suburbanization, the GI Bill, and the continued buildout of the interstate highway system McDonald’s 1965 IPO and beyond Harland Sanders tough upbringing in rural Indiana Leaving home at age 12 A passion for cooking mixed with a a highway service station Sanders’ special way to make fried chicken Interstate 75 killing Sanders’ first restaurant At age 66, Sanders starting over again to by creating franchises in a unique way The 1964 sale of KFC and then 1969 IPO Acquired by R.J. Reynolds, then RJR Nabisco, then sold to Pepsi in 1986 KFC spun…