9 Business Icons who Faced Utter Failure
Harland David Sanders
Company: Kentucky Fried Chicken (now KFC)
Sanders was more famous as ‘Colonel Sanders’. He was more popular for his chicken fast food at Kentucky Fried Chicken, a food chain. But in 1955, he was in deep debt, which made him sell his two decade old restaurant. After settling all his debts, he was completely broke.
He had already started franchising his chicken restaurant concept by then. He started seeking franchises and within five years had 190 franchisees and 400 Kentucky Fried Chicken locations, and the rest is history.
He used to say, “Feed the poor and get rich or feed the rich and get poor. It may not be the idea that's unsuccessful; it may be the execution strategy”.
