Burger King is a quick-service restaurant chain headquartered in Miami-Dade County, Florida. It was founded in 1953 as Insta-Burger King, which was later shortened to just Burger King. After several changes in ownership Burger King was taken public in 2006 via its IPO by TPG Capital, which had purchased the company in 2002 for about 1.5 billion U.S. dollars. Burger King was made private again in 2010 by 3G Capital, which paid 3.3 billion U.S. dollars for the majority stake. In 2012, Burger King started to be traded publicly again via a merger with a preexisting stock (Justice Holding). 3G Capital still is the majority shareholder.
In 2016, almost 16 thousand Burger King restaurants were in operation around the world. The vast majority of those stores were franchised restaurants, less than 100 were company-operated. About 52 percent of Burger King’s restaurants are located in the United States and Canada. Burger King’s revenue was at 1.14 billion U.S. dollars during its 2016 fiscal year.
Of the total revenue 90 thousand U.S. dollars was earned through company-operated restaurants, while 1.05 billion U.S. dollars was from franchise and property revenue. Burger King’s restaurant sales amounted to 92.6 million U.S. dollars in 2016. According to Scarborough Research, 56.31 million people had visited a Burger King restaurant at least once within the last 30 days (spring 2016).
Amongst Burger King’s competitors in the quick-service restaurant market are McDonald’s, Subway, Yum Brands! (Kentucky Fried Chicken, Pizza Hut, Taco Bell), Chick-fil-A, Chipotle Mexican Grill, Wendy’s Domino’s Pizza and many others.