The full English name of KFC is: Kentucky Fried Chicken, KFC for short. KFC is one of the American multinational restaurant chains and the world's second largest fast food and largest fried chicken chain. It was founded by founder Colonel Harland Sanders in 1952. It mainly sells fried chicken, burgers, French fries, and rice bowls. , egg tarts, soda and other high-calorie fast food. KFC China is affiliated to Yum China Holdings Co., Ltd. (referred to as Yum China), and its stock code is YUMC, which is Yum. Brands franchisee in mainland China and has the exclusive right to operate the KFC brand in mainland China.
KFC has formed a strategic alliance with PepsiCo to sell carbonated drinks provided by PepsiCo. In June 2017, the "BrandZ Top 100 Most Valuable Global Brands 2017" was announced, and KFC ranked 81st. Since February 17, 2018, most KFC outlets in the UK have remained closed. Of the 900 local stores, 562 were still closed as of February 20, and the number of stores closed reached a peak of 646 on the evening of February 18.
In 1930, Harland Sanders, the founder of KFC, opened a restaurant in his hometown of Kentucky, USA. During this period, Sanders devoted himself to researching new methods of fried chicken, and finally succeeded in inventing a secret recipe composed of eleven spices and unique cooking techniques. to date. In recognition of his contribution to his hometown, Kentucky awarded him the honorary title of Colonel Sanders.
Colonel Sanders' success began when he was 40 years old when he ran a Corbin gas station in Kentucky. In order to increase his revenue, he began to make various snacks and provide them to passing tourists. Because his reputation for cooking delicious food attracted passing tourists, the business has grown slowly and steadily since then. As his reputation grew, Ruby Laffon, the then governor of Kentucky, awarded him the title of Kentucky Colonel in 1935 in recognition of his contribution to Kentucky's catering.
The colonel's most famous specialty dish is his carefully developed invention of fried chicken. This is Deji's most popular product today. It is cooked with a magic formula of eleven spices concocted by the colonel after ten years of research. It makes people suck their fingers after tasting it.
The Colonel's business faced a crisis in the mid-1950s when the road next to his Sanders Cafe restaurant was passed by a new highway, forcing him to sell the restaurant. The colonel was 66 years old at the time, but he felt that he was still young and did not need to rely on social welfare benefits to live on. This turned out to be a turning point in his career.
The colonel used his old Ford car produced in 1946 to set out on the road carrying his eleven spice recipes and his right-hand assistant-the pressure cooker. He went to restaurants across Indiana, Ohio and Kentucky to sell fried chicken recipes and methods to interested restaurants. The first authorized KFC restaurant was established in Salt Lake City in 1952. Surprisingly, in just five years, Colonel has developed 400 chain stores in the United States and Canada. This is the beginning of the world's catering franchise.
External Environment PESTL Analysis
1. Politics
After China implemented reform and opening up, the political and legal environment for foreign companies to enter China has gradually become looser. KFC took the opportunity to In 1987, he opened his first restaurant in Beijing and officially entered the Chinese market. The government has granted many preferential policies to foreign-invested enterprises in China, which has saved KFC the cost of entering the Chinese market. In 2004, in accordance with the agreement with the World Trade Organization, China fully opened up to foreign companies in China. The catering industry received state support and formulated corresponding policies. KFC has developed healthily as a catering chain store.
2. Economy
China is a country with a large population in the world, a huge market potential, and domestic demand plays a large role in driving economic growth. Moreover, the economy has always been in a basic environment to maintain stable and rapid development. With the development of the economy, people's disposable income has increased, living and consumption levels have continued to improve, and the market demand for catering has also continued to grow. This has given KFC a larger market in China. share.
3. Social culture
The current popular food culture is no longer just about satisfying hunger or pursuing taste, but tends to a healthy and balanced diet and the pursuit of fashionable new products, so KFC has launched a nutritious breakfast and insists on launching new celebrity-endorsed products every quarter to meet people's needs. Moreover, people's pace of life and work has accelerated with social development, and they have new understanding and acceptance of Western culture. These have promoted the rapid development of KFC in China.