Articles

The world’s biggest companies created by the young

by James P. Outreach & PR Executive

Many people dream to become their own boss one day. A study conducted in the UK discovered that 82% of 16-to-21-year-olds have a desire to set up their own business. Indeed, there were estimations that just over 3 million Brits would be their own boss in 2018, with females more likely to take the chance and follow their ambition in order to secure that valuable work/life balance.

On occasion, setting up a successful business can take nearly a lifetime to achieve. Take KFC founder Colonel Sanders, for example. He didn’t have a single penny to his name at the age of 65. Subsequently and shortly after retiring, the Colonel decided to share his fried chicken recipe, door to door. As his creation grew in popularity, the need to open his own restaurant became increasingly apparent and in 1964, when Sanders was 74, he made the decision to sell his company for $2 million USD at a time when there were 600 franchised outlets peddling his trademark chicken to the masses.

It must be noted however, that not every entrepreneur has taken such a lengthy time found and run their business. In this article, we highlight a few of the largest companies on the planet that had young creators behind them.

Subway

One day, a 17-year-old going by the name Fred De Luca, set out on a mission to pay for his college tuition by means of revenue from a sandwich shop. Borrowing $1,000 USD in 1965 from family friend Peter Buck, he opened a restaurant in Boston, serving fresh and affordable sandwiches made to order. Nearly 10 years later, Buck and De Luca owned 16 of the sandwich shops throughout Connecticut and began franchising their brand to help grow the business.

Jump 50 years to today the sandwich shop, known as Subway, enjoys an annual turnover in excess of $9 billion USD with the chain serving customers at 40,000 locations worldwide. The pair also set up Franchise Brands – a resource which helped franchisors and entrepreneurs gain the knowledge needed to grow their brands, just as Subway did and continue to do. At the time of his death in 2015, De Luca was said to have a net worth of $2.5 billion USD.

Renault

In 2018 the French carmaker celebrated 120 years on the road. At 21-years-old, Louis Renault, alongside his brothers Fernand and Marcel, built the company’s first automobile in France and formed automobile firm Renault Frères. By 1902, the company had developed its first two-cylinder engine and produced a lightweight car that won the Paris-Vienna race. Staying in the racing game, a place where Louis Renault felt the business could best make its name, Renault also won the first French Grand Prix in 1906 as the company continued its expansion.

Part way through World War One, France’s War Ministry requested Renault to mobilize their production and handed them contracts to include field ambulances and engines for aircraft. They provided ‘taxis’ to transport men to the front line and went down in history as ‘taxis de la Marne’.

In 2016, Renault was claimed to be the ninth largest car manufacturer globally by production volume and is still widely recognised for its participation in motor racing, particularly rally driving, Formula 1 and Formula E. In Britain, the Renault Clio remains one of the most popular cars on the road, after first hitting UK roads in the 1990s.

Facebook

Mark Zuckerberg founded Facebook in 2004 from his Harvard University dorm room when was just 19 years old. The social media platform was originally solely for Harvard students, but it quickly grew and acquired one million users in its first year. After its second year, Zuckerberg’s company had received a $12.7million USD investment by venture capital firm Accel Partners and expanded to more than 5.5 million users.

The world-renowned Time Magazine named Zuckerberg ‘Person of the Year’ in 2010, a year which also saw his net sitting at a cool $6.9 billion USD. In December of the same year he signed the ‘Giving Pledge’ in which he promised to donate at least half of his wealth to charity over his lifetime.

At present, Facebook’s user count has reached over a billion the company owning millions of subsidiaries, including photo-sharing app Instagram and WhatsApp messenger. In 2018, Zuckerberg is estimated to have a net worth of $82 billion USD.

 

As shown, it’s clear to see that in business, age is merely just a number. If you have an idea, potential funding, and the passion to succeed, you too could find yourself sitting on a fortune no matter how old or young you are.

 

 

Sources

https://www.bmmagazine.co.uk/news/43488/

http://smallbusiness.co.uk/working-brits-consider-starting-business-2017-2536327/

https://yourstory.com/2012/07/the-story-of-colonel-sanders-a-man-who-started-at-65-and-failed-1009-times-before-succeeding/

https://www.biography.com/people/mark-zuckerberg-507402

https://www.techwyse.com/blog/infographics/facebook-acquisitions-the-complete-list-infographic/

https://www.subway.com/en-us/aboutus/history

https://www.motoringresearch.com/car-news/most-popular-cars-in-britain-2017/

https://group.renault.com/en/passion-2/heritage/

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About James P. Freshman   Outreach & PR Executive

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Joined APSense since, September 17th, 2019, From Newcastle, United Kingdom.

Created on Dec 19th 2019 10:39. Viewed 224 times.

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