Yum! Brands, best known for its chain restaurants Pizza Hut, KFC and Taco Bell, announced a change in leadership and plans to expand the company’s global footprint as franchise finance opportunities become available in the U.S.
The company recently promoted CFO Rick Carucci to be its new president. This comes at the same time the franchise is reporting record net income for the first quarter – a 73 percent hike overall – and plans to start selling some of its 125,000 American-based locations to interested franchisees. According to Entrepreneur magazine, the company will be reducing its ownership of store units by 2 to 5 percent for each of its 3 leading brands in order to free up funds for new locations in Asia and Africa. NASDAQ predicted recently that this could put Yum ahead of other competitors like Burger King and McDonalds in the Chinese market. The franchise is already showing 14 percent growth in the last year in that sector.
For hopeful entrepreneurs, Carucci’s enhanced interest in China’s growing market will put hundreds of already profitable restaurant locations up for sale in the coming months. Bloomberg Businessweek noted that the company now has locations in 41 different countries, but stateside locations are still showing strong growth too; for example, last quarter Taco Bell had a 5 percent overall sales boost. For potential new owners looking to get a franchise loan, an online marketplace like Boefly can help you meet lenders with appealing options so you’re ready for the influx of Yum! Brand restaurants soon to go up for sale. With an established record of success and economic barometers pointing upward for the company, these restaurants may prove to be very sound investments.