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by a_bonobo 859 days ago
>Sanders started franchising Kentucky Fried Chicken (KFC) at the age of 62, using his first Social Security check to fund the business.

That seems like not much funding! Looking at Wikipedia:

>Sanders believed that his North Corbin restaurant would remain successful indefinitely; however, he sold it at age 65 after the new Interstate 75 reduced customer traffic.[29][30][5] Left only with his savings and US$105 a month from Social Security (equivalent to $1,147 in 2022),[5] Sanders decided to begin to franchise his chicken concept in earnest, and traveled the US looking for suitable restaurants. After closing the North Corbin site, Sanders and Claudia opened a new restaurant and company headquarters in Shelbyville in 1959.[31] Often sleeping in the back of his car, Sanders visited restaurants, offered to cook his chicken, and if workers liked it negotiated franchise rights.[5]

I don't think anyone could fund a business on $1,147 a month. Then again Wikipedia talks about unspecified savings. Those should be substantial after selling a restaurant?

2 comments

I think the cost of doing business has increased substantially in the last 60 years. Even respecting inflation, I think services, wages, and just the obligations related to business are more expensive than they used to be.
I would add: disproportionately so in higher bureaucracy higher tax environments.

Your money just goes a lot less further as a business owner and as a result it’s harder to have a small business, such an environment heavily favors large corporations that have the funds and man hours to throw at the problem and come out on top.

As useless trivia-- one of Sanders' relatives founded Lee's Famous Recipe once Sanders essentially exited KFC. Subjectively, it is better than modern day KFC.

The Corbin KFC/museum draws tons of tourists-- especially from China (I think they have more locations there than in the US.) If anyone happens to go there, Corbin also has a pretty good pinball arcade with ~60 tables and a redemption game section.