KFC Founder Colonel Sanders Net Worth & Biography. Colonel Sanders was the creator of Kentucky Fried Chicken (KFC). He is already passed a long time but his legacy lives on in the lessons that his life can teach us.
His net worth at death $3.5 million dollars.
Enlisted in the Army for duty in Cuba at age 16
Upon leaving the army he worked at various jobs including:
He started selling fried chicken at the gas station.
He is a self taught cook and he creates his own recipe of 11 herbs and spices.
Sanders was dubbed a Kentucky Colonel in 1935 by the then-Governor Ruby Laffoon.
He cursed a lot
Passionate about cooking
Feisty, resourceful, entrepreneur
“finger licking good.” He actually said this on the 1963 TV show What’s My Line
“If I hadn’t been 66 years old and had a $105 Social Security check coming in every month, I don’t know what I would have done,” he later wrote. “But for me it wasn’t a matter of giving up. It was just a problem of what to do next.”
“the same thing that honorable means before your name. It doesn’t mean a damn thing.” Re his Colonel meaning.
“It was an idea and concept that was so simple and changed the eating habits of the world,” John Y Brown Jr
“Overall the public thinks the Colonel is a caricature”John Y Brown Jr
“He was a crusty old coot. He was the real deal. He is one of the few authentic creators in the entire food industry.” John Y Brown Jr
“Imagine being bold enough to walk around in a white suit, goatee and mustache” John Y Brown Jr
“Everything was treated very delicately. It was a special process he was taking us through to get to the grand end result,” John Y. Brown III who met the Colonel when he was a child. The Colonel showed him how to make biscuits.
Married twice with three children
He started his first franchisee in 1952 in Salt Lake City.
But he only sold the spice mix. Restaurants were paying him only for use of the spices.
He drove across the country in his Cadillac and cooked chicken for potential Clients.
He sold his spices mix to about 600 franchised restaurants.
He dressed up in a full white outfit a black string tie to help market his franchise.
He sold his business to John Y Brown Jr who became Governor of Kentucky in 1964 for $2million dollars
Brown built the business to 3,500 franchised stores and sold the whole business in 1971.
The KFC business sold gravy, mashed potatoes, coleslaw and of course fried chicken using the recipe and the likeness of the Colonel.
In 1971 John Brown sold the KFC businesses for $300 million to the Heublein business group. They subsequently sold it onto to Pepsi Co and it ended up as part of the YUM group which runs brands such as Taco Bell and Pizza hut.
At ninety years of age Sanders passed away in 1980.
He had a lot failure in his early life but he kept going and created something that changed the world.
I understand why the Colonel sold his business – he was too old to grow the business. But he missed out on a billion dollar fortune because of this.
Never let someone buy you out at a cheap price.
KFC Founder Colonel Sanders Net Worth & Biography