S. Truett Cathy, the locally based company's founder/chairman, turned 80 in March and advised his son he could keep the post so long as he didn't retire before his father.
Collins is credited with training Dan Cathy for his corporate roles since Cathy joined the family-owned firm in 1975. Cathy has been in charge of field operations, purchasing and training. In 1996, he opened the company's first restaurant in Durban, South Africa.
The company has 950 restaurants in 34 states. Because it is privately-held, the company doesn't publish financials but it has previously announced a revenue target of $1 billion for this fiscal year.
All Chick-fil-A franchisees work under a contract that gives the parent 15% of gross sales for operational expenses. After all other unit expenses are paid, the net monthly profits are split 50-50, according to the company. Operators are guaranteed a minimum income of $30,000 a year. However, they do not build equity in the business and their contractual agreement is not transferable. The one-time franchise fee is $5,000.
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