Jack Cowin achieved what many of us aspire to: he abruptly became a tycoon after working as a salaried employee. This entrepreneur purchased a KFC restaurant in Perth in 1969.
Today, his holding company, Competitive Foods, is worth over $3 billion and has over 1,600 restaurants under popular brands including Domino’s Pizza and Hungry Jack’s (Australia’s version of Burger King). How can an empire be established in less than fifty years? We want to know too, but first, we’ll share Cowin’s amazing story with you!
Who is Jack Cowin?
Cowin was a boy who sold things for a few bucks, delivered newspapers, and shoveled snow. However, he entered a world that would fundamentally alter his future when he reached 20 and began preparing hamburgers.
He currently serves as the chairman and creator of Competitive Foods Australia, which operates the “Hungry Jack’s” Burger King franchise in Australia. He is an 82-year-old billionaire who runs a real fast-food company.
Australia hardly understood what an international franchise was when Cowin arrived. Long queues were drawn by the novelty of Kentucky-style fried chicken, and the first restaurant’s yearly sales in just two years shocked the industry by tripling the average.
In order to locate his market niche in a growing and competitive environment, Cowin used a regional growth plan and negotiated favorable terms with local suppliers, lowering shipping costs and increasing margins.
The fried chicken was ignited by the spark
He came to the conclusion that relying solely on one brand was dangerous by the 1970s. The moment had come to wager on hamburgers.
He purchased the rights because the Burger King license was unavailable in Australia, and because of legal problems with the name, he opened Hungry Jack’s.
His intuition was correct; he capitalized on a market that sought quick, reasonably priced meals with an American flair. Adding extra barbecue sauces and high-quality coffee to cater to local tastes increased consumer loyalty and continues to do so today.
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The secret to Domino’s Pizza
Purchasing a majority stake in Domino’s Pizza in Australia and New Zealand was the next stage. He used his own logistics, extensive negotiations, and digital home delivery there, repeating the same approach. Cowin traveled to Australia in search of copper, but he ended up discovering gold instead.
Leverage, reinvestment, and own capital appeared to be the straightforward equation. In this way, this man established a true empire founded on perseverance and long-term planning.
As the leader of almost 450 restaurants in Australia alone, Cowin is far from slowing down. Additionally, keep in mind that he serves as executive chairman of Domino’s Pizza, which has roughly 2,500 pizza joints in Australia, New Zealand, and Japan—for a total of almost 3,000 locations globally!
It hasn’t been an easy trip, of course. We must not forget that this man began working at an early age, earning a living by removing snow from the streets and saving money.
He was able to raise the money and travel across the seas to begin what would essentially be his life’s work. He led a market hungry for fast service and fried chicken, no doubt due to a favorable combination of factors and his business approach.
The most important lesson this man teaches us is that in order to think globally, you must act locally.
You can do this without compromising your core values or using massive advertising campaigns; all you need to do is figure out what the consumer wants, establish relationships, look for trends, and win people over with your food. What an accomplishment, Mr. Cowin!
