At 82 years old, Jack Cowin has amassed an empire that includes recognizable fast-food brands in Australia. In 1969, he brought KFC to the “Land Down Under.” Later, he founded Hungry Jack’s, the Australian franchise of Burger King, and became the largest shareholder in Domino’s Pizza Australia. Cowin’s impressive business accomplishments offer a blueprint for aspiring entrepreneurs.
Building an Empire From the Ground Up
Cowin’s journey started modestly. “I didn’t come from money…I’m kind of self-made. I use that terminology, and I’m proud of that, he told CNBC Make It. His entrepreneurial path began with the acquisition of his first KFC store, which grew into a 55-store franchise before he sold it for $71 million in 2013.
Today, Competitive Foods Australia, the parent company of Hungry Jack’s, boasts over 400 restaurants. Cowin’s business portfolio includes a significant stake in Domino’s Pizza Enterprises and the plant-based meat company v2food. His ventures are worth over $3 billion and generate annual revenues exceeding $300 million.
Teamwork as the Cornerstone of Success
Cowin credits much of his success to the principles of teamwork. The billionaire draws parallels between playing university football and his business ventures. “Business is a team sport. If you want to do something that is bigger and has more scope, you have to become a team player and interact with people,” he remarked.
He emphasizes the importance of collaboration. “Be conscious of the fact that you cannot do it on your own. Being a ‘people person’ and having an innate curiosity and desire to learn has been key to my success,” Cowin stated.
Advice for the Younger Generation
Cowin has advice for young people who feel lost. “If you’re lost, get active with something.” He elaborated, “I see people that get fired or something goes wrong in their life. They sit on the sidelines and lose confidence…you’ve got to be in the game to be successful.”
Rather than dwelling on setbacks, Cowin advocates for action. “You’ve got to get back into the mainstream of life by doing stuff, interacting with people. Have a go; don’t stand around thinking about it.”
Learning From Others
Cowin’s approach to business is fueled by curiosity. He shared his admiration for US-based fast-food chain Chick-fil-A when he spoke at the Forbes Australia Icons and Investors Summit. The eatery is known for its upside-down pyramid management structure. This business model places customers at the top, followed by frontline workers and store managers.
“I don’t have a lot of original bones in my body. But if I see a good idea, I’m prepared to steal it,” Cowin said. Implementing this model at Hungry Jack’s has yielded remarkable results, including tripled profits over five years. The average restaurant manager’s earnings soared to $200,000, with some exceeding $300,000 annually.
“You attract the best people into the business, and your turnover stops. It’s a growth mindset,” he noted. Cowin has driven significant growth by focusing on employee satisfaction and customer experience.
Leadership as an Ongoing Adventure
For Cowin, business is not just about profits but the journey. “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 shared. It’s been an adventure of doing new things, new businesses, new this, new that, and it’s been fun.”
Even at 82, Cowin remains active while seeking new ideas. “My main job now is to make sure that I’m on top of new ideas and have the right people to implement them. And having the courage to make the change if it’s not working.”
A Final Life Lesson
Cowin’s life and career exemplify the power of resilience, teamwork, and a growth mindset. His final bit of advice is straightforward. “Read a lot. Be curious. Keep your antenna out. Look at why some businesses succeed and others fail.”
By staying curious, taking action, and embracing new ideas, Cowin has built a legacy that inspires leaders of all ages to aim higher. It’s about more than just hard work—it’s about having the courage to innovate.
