McDonald’s is buying out Caspers Company, one of its oldest franchisees and the largest in Florida. Blake Casper and his family are planning to retire as a third-generation McDonald’s owners on October 1, 2022, and have agreed to sell their 60 locations in Tampa and Jacksonville to the franchisor.
In addition to being a large multi-unit franchisee, Casper also helped form the independent McDonald’s National Owners Association in 2018 and served as chairman of the advocacy group, which was the first franchisee association in McDonald’s history.
Neither the details of the deal nor future plans for the 60 stores were disclosed.
Casper and his sister, Allison Casper Adams, and her husband, Robby Adams, joined the family business in 1996 and served as restaurant shift and salary managers and area supervisors before being approved in the McDonald’s Registered Applicant Program in 1999. Robby Adams bought and built five restaurants, and in 2000, Casper bought all the restaurants in the Tallahassee market and built it to 27 locations, plus doubled sales before returning to Tampa, according to a message from a McDonald’s field office obtained by Franchise Times.
The Casper family began their McDonald’s journey 64 years ago when Ray Kroc and Fritz Casper bonded over their “love for great clothes, a winning optimism and a keen eye toward the customer,” according to the message. Casper opened the team’s first McDonald’s in Florida in 1958 and began expanding throughout Tampa. His son, Joe Casper, took over in 1970 and grew the organization from five to 44 McDonald’s restaurants.
Blake Casper regularly sent notes to the members of the NOA, and on August 11, 2019, sent one particularly heartfelt and inspirational note following the two mass shootings at a Walmart store in El Paso, Texas, and a bar in Dayton, Ohio.
"Our country continues to struggle with mass shootings that make no sense, that test our faith. We operate in an environment charged with division, anger, and despair. Where there is little common ground, where understanding and compassion are in short supply," Casper wrote, which also seems relevant in 2022.
“It’s a charged environment out there and we must keep our teams safe. Our people are our most precious asset. They can and do make a difference in a different world. We can’t shrink from that world, we can’t pull back. We must lean forward. We must find the courage to carry on."
Related: Obstacles Inspire Multi-unit McDonald’s Operator to Empower
Majority of NOA members vote ‘no confidence’ on CEO
It is unclear if Casper’s retirement and concurrent sale of his family business can be attributed to the recent changes in McDonald’s ownership rules announced last month, which increased renewal standards for franchise agreements.
The NOA surveyed more than 600 McDonald’s operators and released the results on Monday, which found 87 percent of respondents supported calling a vote of “no confidence” on CEO Chris Kempczinski and the company’s U.S. president, Joe Erlinger.
In all, 95 percent of respondents also said the franchisor’s senior management does not have the best interest of owners in its approach to franchising, according to CNBC, and 83 percent said the new rules were a “veiled attempt to raise rents.”
The sale of Caspers Company comes as McDonald’s continues to buy up franchised stores and flips them over to new franchisees. A record 400 owners exited the system last year, which totaled about 1,750 restaurants changing hands—from retiring owners and operators wishing to cash in on high valuations to disgruntled franchisees who don’t see themselves aligning with the franchise giant’s future direction.
Many of Caspers Company’s restaurants earned some of the highest average sales, guest counts and cash flows in their business unit, according to the message obtained by Franchise Times.
“His work collaborating with the McDonald’s Government Relations Team over the past two decades has helped owner/operators systemwide build relationships with key government officials, tell the McDonald’s story and advocate for fair treatment of our business,” the message said. “We owe Blake much gratitude for his tireless efforts at the federal and Florida level for his work in helping shape public policy influenced by the voice of McDonald’s small-business owners.”
Same-store sales at McDonald’s restaurants in the U.S. increased 3.5 percent in the first quarter of 2022, fueled by price hikes. The company reported a net income of $1.1 billion in the first quarter at more than 40,000 locations in more than 100 countries.
FAQs
For its first 64 years Caspers Company supported 60 McDonald's stores owned by Blake Casper, Allison Casper Adams, and her husband Robby Adams.
Does Casper still own McDonald's? ›
Tampa-based Caspers Company announced Monday it plans to sell all of its McDonald's locations and franchises on Oct. 1, according to a media release. Caspers Company has owned and operated McDonald's businesses around Tampa since 1958, and was considered to be the largest franchise in Florida.
Who bought the Caspers Company? ›
McDonald's is buying out Caspers Company, one of its oldest franchisees and the largest in Florida. Blake Casper and his family are planning to retire as a third-generation McDonald's owners on October 1, 2022, and have agreed to sell their 60 locations in Tampa and Jacksonville to the franchisor.
How much does Mcdonalds take from franchisee? ›
Therefore, the McDonald's franchise cost alone, even if high, should not deter investment. In addition to the initial franchise fee, McDonald's franchisees are required to pay an ongoing royalty fee of 4% of the restaurant's gross sales. This royalty fee is on the lower end of the industry standard spectrum of 4-5%.
Who is the largest owner of McDonald's? ›
The Vanguard Group, Inc. is currently the company's largest shareholder with 9.6% of shares outstanding. In comparison, the second and third largest shareholders hold about 7.2% and 4.8% of the stock.
Who owns the most stock in McDonald's? ›
Largest shareholders include Vanguard Group Inc, BlackRock Inc., State Street Corp, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, VFINX - Vanguard 500 Index Fund Investor Shares, Jpmorgan Chase & Co, Bank Of America Corp /de/, Geode Capital Management, Llc, Morgan Stanley, and Wellington Management ...
Who owns Casper now? ›
In November 2021, Casper announced that it had entered into a definitive agreement to be acquired by Durational Capital Management. The transaction completed in January 2022 and Casper's stock was delisted from the New York Stock Exchange.
Who bought out McDonald's? ›
In April 1955, Kroc launched McDonald's Systems, Inc., later known as McDonald's Corporation, in Des Plaines, Illinois, where he also opened the first McDonald's franchise east of the Mississippi River. In 1961 Kroc bought out the McDonald brothers.
What happened to the brothers who owned McDonald's? ›
Maurice McDonald died from heart failure at his home in Palm Springs, California, on December 11, 1971, at the age of 69. Richard McDonald also died from heart failure in a nursing home in Manchester, New Hampshire, on July 14, 1998, at the age of 89. He was buried at the Mount Calvary Cemetery in Manchester.
How many McDonald's can you own? ›
Is there an opportunity to acquire more than one McDonald's restaurant? McDonald's is an equal opportunity franchisor by choice. We seek individuals who are capable of operating multiple locations. Candidates who have successfully operated multiple businesses may be suited to operating several McDonald's franchises.
NEW YORK (AP) — The e-commerce mattress maker Casper is being acquired and taken private, less that a year after its public debut, for about $308 million. Shares of Casper Sleep Inc. spiked 88.5% to close Monday at $6.69. Durational Capital Management will pay $6.90 per share for Casper.
Who owns the Casper franchise? ›
Although The Friendly Ghost, the 1945 Famous Studios short that introduced the character, is in the public domain, Casper the Friendly Ghost is owned by Comcast via its NBC Universal division, which owns Dreamworks Animation, which owns Classic Media, which owns Harvey Entertainment, which bought the Famous Studios ...
What is the most profitable franchise to own? ›
McDonald's. People commonly think McDonald's is the best franchise to buy due to its high profit margins and brand recognition.
How much can a McDonald's franchise owner make a year? ›
On average, however, owner-operators can earn anywhere from $50,000 to $150,000 per year per store after accounting for expenses and royalties paid to McDonald's corporate. So, someone with multiple successful franchises could potentially earn a substantial income.
Did the McDonald's brothers get any royalties? ›
Today, the McDonald family no longer receives royalties from the fast-food chain. Instead, their wealth stems from the proceeds of the stock sale, which was reportedly valued at over $1 billion at the time.
Who has the second most McDonald's? ›
Today or as of 2024, there are over 15,000 McDonald's restaurants in the United States, over 5,000 in Japan, over 4,500 in mainland China, over 2,200 in France, over 1,800 in Brazil, over 1,600 in Canada, over 1,500 in Germany, over 1,400 in the United Kingdom, over 1,100 in Australia, over 780 in Mexico and over 740 ...
How much did the original owners of McDonald's get? ›
Kroc eventually decided he wanted control of the company entirely, Kroc bought the company in 1961 for $2,700,000 (equivalent to $27,500,000 in 2023), calculated so as to ensure each brother received $1,000,000 (equivalent to $10,200,000 in 2023) after taxes.
Who owns every McDonald's? ›
Ninety percent of McDonald's restaurants are independently owned and operated by franchisees, who have the ability to set their own prices.
