Seven Franchisee Billionaires You Should Know

Franchising has become a popular way for entrepreneurs to expand their businesses and reach new markets. With the rise of successful franchises, there are many franchisee billionaires who have managed to scale their businesses and build substantial wealth.

Here are seven franchise billionaires you should know in 2023.

1)    Greg Flynn

Greg Flynn is the founder and CEO of the largest franchise operator in the world: Flynn Restaurant Group and Flynn Properties. Greg started his franchising journey in 1999 when he purchased his first Applebee’s franchise. Over the years, he has grown his multi-unit franchisee brand Flynn Restaurant Group into a wildly successful operation. The brand owns and operates approximately 2,400 Applebee’s, Tacos Bells, Arby’s, Wendy’s, Pizza Huts and Panera’s, generating roughly $4 billion in sales. In 2012, Flynn became the first American franchisee to reach the $1 billion mark. As an enterprise, the Flynn Restaurant Group is worth an estimated $2 billion.

2)    Jack Cowin

Jack Cowin is a Canadian-Australian businessman and entrepreneur with an estimated net worth of $5 billion. Cowin is directly responsible for bringing Kentucky Fried Chicken to Australia. He also founded and owns the Burger King franchise in Australia. He previously controlled Domino’s Pizza franchises in Australia. In 2021, he was ranked the 17th richest Australian businessman by the Financial Review Rich List. As of 2023, according to Forbes, Jack Corwin is the #15 richest person in Australia.

3)    Tony Tan Caktiong

Tong Tan Caktiong is the founder of the Philippines-based fast-food chain Jollibee. Caktiong started from humble beginnings and opened a small ice cream franchise when he was just 22 years old. After a few years into the business, he decided to rebrand the franchise to Jollibee, which has since become one of the world’s fastest-growing Asian restaurant chains. Jollibee now has more than 3,300 locations in the Philippines and more than 2,500 stores across the globe. In 2020, Forbes ranked Caktiong as the #9 richest person in the country. His estimated net worth sits around $5.5 billion.

4)    Carrols Restaurant Group

Carrols Restaurant Group is an American franchisee company. The brand is the largest franchisee of Burger King restaurants in the world, with over 1,000 Burger King units and 55 Popeyes restaurants under its purview. Throughout the years, Carrols has also formerly owned other restaurant chains such as Pollo Tropical and Taco Cabana. As an enterprise, Carrols Restaurant Group is worth roughly $1.4 billion.

5)    William Heinecke

William Heinecke is a Thai businessman and entrepreneur who started his first business Minor International before he was 18 years old. Minor International operates more than 500 hotels and resorts, roughly 2,400 restaurants and 470 retail stores spread across 50 countries. In 2018, Heinecke acquired Spain’s NH Hotels and effectively tripled the size of his hotel portfolio. In 2020, Forbes ranked him as the #20 richest person in Thailand, and his estimated net worth sits around $1.6 billion.

6)    Dhanani Group

The Dhanani Group started in the gas and convenience store business in 1976. In 1994, it became a franchisee for Burger King. The brand was founded by Shoukat Dhanani, who remains the CEO. The Dhanani Group is based out of Sugar Land, Texas, and is one of the nation’s top quick-service restaurant (QSR) franchisees for both Burger King and Popeyes. The Dhanani Group also has a growing presence in casual and fine dining, and owns a number of La Madeleine restaurants. The Dhanani Group’s estimated net worth sits at about $1.3 billion.

7)    MUY! Companies

MUY! Companies is a restaurant franchisee group that owns and operates a number of Taco Bell, Pizza Hut and Wendy’s locations. The organization was founded in 2005 by James Bodenstedt, who has since left the company. MUY! Companies is headquartered out of San Antonio Texas. Its value as an enterprise is estimated to be around $1.1 billion.