Who owns Five Guys? What role did Shaquille O’Neal play in its expansion?
Five Guys Enterprises is a licensed limited company based in America. The company operates as Five Guys Burgers and Fries, a fast-food restaurant chain that mainly makes burgers and fries. The fast-food restaurant chain is a private company operating in over 1,700 locations across the world.
Source: Getty Images
Five Guys has built a name for itself, with over three decades in operation, creating a network of food outlets all over America and spreading to Europe. The company is known for its simple policies contributing to its growth. What are the facts regarding the giant burger outlet? Find out in this article.
Where did five guys come from?
Five Guys was a concept that sprung after Jerry Murrell’s restaurant business venture picked up. The Murrell brother opted not to join college and venture into the business; hence, their college fund was used to set up the first restaurant. From the first outlet in Arlington, the Murrells had opened five outlets by 2001. The Murrells opted to franchise their business idea, engaging Fransmart, a franchise sales organization. This pivoted the success of the company by a greater margin.
Five Guys founders
Source: Getty Images
What year was Five Guys founded? The company was founded in 1986 by Jerry Murrell and Janie Murrell, together with their four sons: Jim, Matt, Chad and Ben. Jerry Murrell, the CEO of Five Guys, opened the first restaurant in Arlington’s Westmont Shopping Centre using his sons’ college fund after they opted not to join college. This turned out to be a success regardless of the numerous hurdles.
Why is 5 Guys called 5 Guys?
The name was originally inspired by Jerry Murrell and his four sons, Jim, Matt, Chad and Ben, when he started the restaurant business venture. However, Jerry and Jane, his second and current wife, had another son, Tyler, to sum up to five sons.
Who bought Five Guys?
Source: Getty Images
The Murrells, Five Guys owners, embraced franchising in 2003, which led to the rapid growth of their brand and business. Who owns a lot of Five Guys? Shaquille O’Neal. The legendary basketball player, who boasts a staggering net worth of $400 million, became a significant part of the food outlet through franchising. The NBA star invested in the company, buying over 150 outlets and having a 10% ownership of all total restaurants. His investment was a major boost for the company in terms of revenue and marketing, given that Shaquille O’Neal is a celebrity.
How much does a Five Guys franchise cost?
Owning the company's franchise is not a cheap affair. According to ifpg.org, the venture requires a minimum investment of between $152,600 and $360,300 with a $25,000 initial franchising fee requirement. Moreover, the agreement term is twenty years.
What companies does Shaq own?
Source: Getty Images
The former basketball star has several businesses and investments to his name. However, Shaquille has his eyes on franchising more than building his own brand and businesses. As he is commonly known, Shaq has franchises with Five Guys, Krispy Kreme Donuts, Papa John’s and Aunty Annie’s Pretzels. The Laker’s legend also owns JC Penney and Elvis Presley among the top list of his numerous business ventures.
Does Shaq own Papa Johns?
Shaquille O’Neal is known to be a fan of good food. Papa Johns is one of the food companies and outlets Shaquille O’Neal has a business deal with. The NBA legend owns several Papa Johns franchises, with whom he also has an endorsement deal. He renewed the endorsement contract in 2022. Besides Papa Johns, Shaquille has business deals with Five Guys and Big Chicken.
Five Guys is a clear definition of humble beginnings and rapid growth. The burger and fries outlet has grown its brand, spread its food restaurant chain network far and beyond its origin, and cemented its place in the fast food industry.
READ ALSO: Who owns Don Billiato? Everything to know about the premium tequila brand
Briefly.co.za published an article about the ownership of the recently launched luxury drink, Don Billiato. The drink sparked a lot of controversy on who was behind its entire concept to its entry into the liquor market.
After its launch, the drink took the market by storm, selling out in stores and distributors across South Africa. What is the real tale behind the drink? Read this article to find out.
Source: Briefly News
