Hungry Jack’s billionaire reveals the secrets of the burger chain’s success – and why he’s not afraid of Wendy coming to Australia
- The owner of Hungry Jacks reveals the tricks of the trade
- The burger chain is on track to become a $2 billion company
- He played down concerns about big competitor Wendy’s
The head of Australian fast food giant Hungry Jacks has revealed the secrets of the thriving burger chain and says he’s not worried about the launch of rival Wendy’s Down Under.
Jack Cowin, the billionaire owner of the food store, said there are a few tricks of the trade that have kept the franchise in good stead.
He told The Australian these lessons have proved fruitful in the store’s quest to become one of Australia’s most profitable businesses.
“The food has to be good and taste good,” he said.
‘It has to be warm enough and you also have to motivate people’.
Billionaire owner of Hungry Jacks, Jack Cowin (pictured with his wife) has revealed the secrets of the popular fast food chain’s growth
Wendy’s is aggressively trying to penetrate the Australian market.
The third largest hamburger chain in the world is opening soon 200 shops down under, as the fast food wars flare up.
Mr Cowin, who founded Hungry Jacks in 1969, said he is not concerned about the US company’s expansion, putting aside the company’s ability to experience growth in Australia.
“That doesn’t bother me much (Wendy’s),” he said. “They’ve been in New Zealand for about 20 years and haven’t done much.”
The burger boss explained the secret to his success and Hungry Jack’s continued growth pays their store managers well.
The company strives to have the highest paid store managers in the fast food industry.
“If you have a motivated store manager, he treats the staff well and then the staff treats the customers well…” he said.
And the customers have had good experiences with it.
Mr Cowin said he believes this is fundamental to increasing sales and increasing profits.
Hungry Jacks will become a $2 billion company after the franchise grows double-digit sales in fiscal year 2023
Mr Cowin said he is not worried about the rise of US burger giant Wendy’s as they take another foray down after the company announced it would open 200 stores in Australia.
It’s a mantra that has helped Hungry Jacks avoid the pitfalls of weak economic conditions due to inflation, which has driven up the cost of living for Aussies.
The restaurant’s revenue grew by double digits in fiscal year 2023 and is on track to become a $2 billion company – a first in the history of the popular eatery.
Cowin’s fast-food conglomerate Competitive Foods has also increased its profits, after reaching $1.77 billion in sales in 2022.
Despite the strong sales figures, the franchise will compete with major competitors such as Wendy’s and McDonald’s.
Hungry Jacks, owned by Cowins fast food conglomerate Competitive Foods, has also increased its profits over the past two years.
In 2022, the company generated $1.77 billion in revenue, after posting $1.674 billion in profit in 2021.