There's No Age For Starting A Business And KFC Founder Colonel Sanders' Story Is Proof - News18 (2024)

Curated By: Business Desk

Last Updated:

Delhi, India

In 1964, Sanders sold the company with a proposal of $2 million to Jack Brown and Jack Massey.

People always believe that to make something you need to start building it from a young age but this myth was broken by the founder of KFC. Colonel Harland Sanders founded the famous brand at the age of 62. Sanders started working several small jobs from a young age in order to make a living. When he was in his 40s, Sanders ran a restaurant in Kentucky, the United States. He had a special self-made 11 herbs recipe for fried chicken that was popular among the locals and passers-by. The dish was so popular in the region it was famously known as Kentucky Fried Chicken. The name of the company became KFC later on.

At the age of 74, Colonel Sanders met John Y Earthy, Jack Brown and Jack Massey, who were interested in buying the restaurant chain. They guaranteed Sanders that they would keep up the quality of the franchise. They likewise promised to never change the 11 herbs recipe of the chicken. It was a simple choice for Sanders.

In 1964, Sanders sold the company with a proposal of $2 million to Jack Brown and Jack Massey. The new owners of KFC accepted that Sanders’ face was perhaps the best resource for the marketing of the brand. He was appointed as the brand ambassador for the company and was also promised that he would get a lifetime salary of about $40,000 every year. Sanders died in 1980.

See Also
Yum Brands

Brown sold KFC to Heublein, a food and beverage company, in 1971. Heublein was purchased by a tobacco firm named RJ Reynolds in 1982. Four years later, Reynolds sold KFC for $850 million to PepsiCo. The conglomerate formed a company named Yum in 1997 to enter the Food and Beverages (F&B) sector and Yum Brands became the parent company of KFC.

KFC is known for its “finger-licking good” chicken and the recipe is so secretive that it has been locked in the vaults of the company’s headquarters and even the CEO does not have access to it. The success story of KFC remains a model for the business world. The company has changed owners four times, but its secret recipe is still the same.

Read all the Latest Business News, Tax News and Stock Market Updates here

About the Author

    Business Desk

    A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings

    ...Read More

    first published:May 02, 2023, 14:01 IST

    last updated:May 02, 2023, 14:01 IST

    There's No Age For Starting A Business And KFC Founder Colonel Sanders' Story Is Proof - News18 (2024)
    Top Articles
    Latest Posts
    Article information

    Author: Dan Stracke

    Last Updated:

    Views: 6265

    Rating: 4.2 / 5 (43 voted)

    Reviews: 82% of readers found this page helpful

    Author information

    Name: Dan Stracke

    Birthday: 1992-08-25

    Address: 2253 Brown Springs, East Alla, OH 38634-0309

    Phone: +398735162064

    Job: Investor Government Associate

    Hobby: Shopping, LARPing, Scrapbooking, Surfing, Slacklining, Dance, Glassblowing

    Introduction: My name is Dan Stracke, I am a homely, gleaming, glamorous, inquisitive, homely, gorgeous, light person who loves writing and wants to share my knowledge and understanding with you.