Jack Cowin is the founder and chairman of Competitive Foods Australia, the company that operates Hungry Jack’s.
Mark Evans | Getty Images Sport | Getty Images
At 82, self-made billionaire Jack Cowin has a number of simple truths about life and business to share.
“I didn’t come from [money] … I’m kind of self-made. I use that terminology and I’m proud of that,” Cowin told CNBC Make It.
He’s made a fortune from selling fast food. In 1969, he bought his first KFC store in Australia, which eventually grew into a 55-store franchise. He then sold it for over $71 million in 2013, according to a company representative.
Cowin is also the founder and chairman of Competitive Foods Australia, the company that operates Burger King as “Hungry Jack’s” in Australia — a chain of more than 400 restaurants today. He’s also the biggest shareholder of Domino’s Pizza in Australia, and backs a plant-based meat substitute company called v2food.
His business is worth over $3 billion and brings in over $300 million a year, Cowin told CNBC Make It.
Don’t be a dentist … when you’re not drilling teeth, you’re not making money.
Jack Cowin
founder and chairman of Competitive Foods Australia
Before starting his fast food empire, Cowin played football in university and even had a “brief flirtation” with playing professionally. “Business is a team sport,” he said.
“Don’t be a dentist … when you’re not drilling teeth, you’re not making money,” Cowin told CNBC Make It. “If you want to do something [that] is bigger and has more scope, you have to become a team player and … to become a team player, you got to interact with people,” he said.
“Be conscious of the fact that you cannot do it on your own,” said Cowin.
Business isn’t just about satisfying your own needs — it’s also about fulfilling what others need, whether they’re employees, customers, investors or business partners. Being a “people person” and having an innate curiosity and desire to learn has been key to his success, he said.
The first Hungry Jack’s location was opened in 1971 in Innaloo, Perth.
Ullstein Bild | Ullstein Bild | Getty Images
When asked to give advice to young people who may be feeling lost in life, Cowin said, “The short answer is — if you’re lost, get active with something.”
“I see people that get fired or something goes wrong in their life. They sit on the sidelines and they lose confidence … you got to be in the game to be successful,” he said.
After spending some time reflecting, it’s important not to get stuck in a cycle of moping: “You got to get back into the mainstream of life by doing stuff, interacting with people,” he said. “Have a go, don’t stand around thinking about it.”
Today, Cowin says, he has created about 150,000 jobs globally between his Domino’s Pizza business — which consists of 4,000 stores across 12 countries — and his Hungry Jack’s business.
At 82, he says, he has no plans to exit the business.
“If there was a summary of my life, I’ve looked on it as an adventure, rather than slogging it out day after day,” he said. “It’s been an adventure [of] doing new things, new businesses, new this, new that, and it’s been fun.”
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