Burger King is a U.S.-based quick service restaurant chain operating restaurants all around the world. The limited service restaurant chain was founded in Florida in 1953 under the name ‘Insta-Burger King’. In 2010, Burger King was purchased by the investment firm 3G Capital making it a privately held company.
The investment firm 3G Capital also purchased the Canadian coffee house chain Tim Hortons in 2014, merging the two restaurants under the parent company Restaurant Brands International. Both Burger King and Tim Hortons maintain separate brands and headquarters despite Restaurant Brands International being a single publicly traded company, which began trading in December of 2014.
Burger King is amongst the most valuable quick service brands in the world and serves around 54 million customers per month in the U.S. alone. In the past few years, the company has become an almost entirely franchised chain, with more than 15,500 franchised restaurants. Today only 71 units remain company-owned. Although Burger King reduced the number of company-owned restaurants, overall the number of locations have grown annually over the last seven year.
Despite the continual growth in restaurant numbers worldwide, the revenue of Burger King decreased annually between 2009 and 2014, dropping by more than 50 percent in this period. The company has experienced slight growth over the last two years, generating 1.14 billion U.S. dollars in 2016, although this is still less than half of the 2.54 billion U.S. made in 2009.
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