Burger king

Burger king

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Burger King (BK) is an American global chain of hamburger fast food restaurants. Headquartered in the unincorporated area of Miami-Dade County, Florida, the company was founded in 1953 as InstaBurger King, a Jacksonville, Florida-based restaurant chain. After Insta-Burger Kinghttps://www.cpagrip.com/show.php?l=0&u=139905&id=11286&tracking_id=https://www.cpagrip.com/show.php?l=0&u=139905&id=11286&tracking_id= ran into financial difficulties in 1954, its two Miami-based franchisees David Edgerton and James McLamore purchased the company and renamed it "Burger King". Over the next half-century, the company would change hands four times, with its third set of owners, a partnership of TPG Capital, Bain Capital,

and Goldman Sachs Capital Partners, taking it public in 2002. In late 2010, 3G Capital of Brazil acquired a majority stake in the company, in a deal valued at US$3.26 billion. The new owners promptly initiated a restructuring of the company to reverse its fortunes. 3G, along with partner Berkshire Hathaway, eventually merged the company with the Canadian-based doughnut chain Tim Hortons, under the auspices of a new Canadian-based parent company named Restaurant Brands International

The 1970s were the "Golden Age" of the company's advertising, but beginning in the early-1980s, Burger King advertising began losing focus. A series of less successful advertising campaigns created by a procession of advertising agencies continued for the next two decades. In 2003, Burger King hired the Miami-based advertising agency Crispin Porter + Bogusky (CP+B), who completely reorganized its advertising with a series of new campaigns centered on a redesigned Burger King character nicknamed "The King", accompanied by a new online presence. While highly successful, some of CP+B's commercials were derided for perceived sexism or cultural insensitivity. Burger King's new owner, 3G Capital, later terminated the relationship with CP+B in 2011

and moved its advertising to McGarryBowen, to begin a new product-oriented campaign with expanded demographic targeting.               

           

                                                                                    

Burger King's  menu has expanded from a basic offering of burgers, French fries, sodas, and milkshakes to a larger and more diverse set of products. In 1957, the "Whopper" became the first major addition to the menu, and it has become Burger King's signature product since. Conversely, BK has introduced many products, which failed to catch hold in the marketplace. Some of these failures in the United States have seen success in foreign markets, where BK has also tailored its menu for regional tastes. From 2002 to 2010, Burger King aggressively targeted the 18–34 male demographic with larger products that often carried correspondingly large amounts of unhealthy fats and trans-fats. This tactic would eventually damage

the company's financial underpinnings, and cast a negative pall on its earnings. Beginning in 2011, the company began to move away from its previous male-oriented menu and introduce new menu items, product reformulations and packaging, as part of its

current owner 3G Capital's restructuring plans of the company.

As of December 31, 2016, Burger King reported it had 15,738 outlets in 100 countries. Of these, 47.5% are in the United States and 99.5% are privately owned and operated, with its new owners moving to an almost entirely franchised model in 2013. BK has historically used several variations of franchising to expand its operations. The manner in which the company licenses its franchisees varies depending on the region, with some regional franchises, known as master franchises, responsible for selling franchise sub-

licenses on the company's behalf. Burger King's relationship with its franchises has not always been harmonious. Occasional spats between the two have caused numerous issues, and in several instances, the company's and its licensees' relations have degenerated into precedent-setting court cases. Burger King's Australian franchise Hungry Jack's is the only franchise to operate under a different name, due to a trademark dispute and a series of legal cases between the two.

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The Burger King logo, 2002–present
Type	Subsidiary
Industry	Restaurants
Genre	Fast food restaurant
Predecessor	Insta-Burger King
Founded	Insta-Burger King: 1953; 64 years ago Jacksonville, Florida Burger King: 1954; 63 years ago Miami, Florida
Founder	Insta-Burger King: Keith J. Kramer and Matthew Burns Burger King: David Edgerton and James McLamore
Headquarters	5505 Blue Lagoon Drive, Miami-Dade County, Florida, United States
Number of locations	15,000+ (2015)
Area served	Global
Key people	Alexandre Behring (ChairmanRBI)[1]:123 Daniel S. Schwartz (CEO)[1]:123 José E. Cil (President)[1]:123 Joshua Kobza (CFO)[1]:123
Products	Hamburgers chicken french fries soft drinks milkshakes salads desserts breakfast hot dogs
Revenue	US$4.05 billion (FY 2015)[1]:30
Operating income	US$363.0 million (FY 2015RBI)[1]:30
Net income	US$1.912 billion (FY 2015RBI)[1]:30
Total assets	US$18.41 billion (FY 2015RBI)[1]:31
Total equity	US$2.912 billion (FY 2015RBI)[1]:31
Number of employees	34,248 (FY 2015 RBI)
Parent	Restaurant Brands International
Website	www.bk.com This box: view talk edit