Let us know if NBA legend Shaq O’Neal does actually own Five guys or not
A legend of his era, Shaquille O’Neal is a man of vision. A dominant big man of his time in the NBA, Shaq is still relevant today in many ways.
Standing today, Shaq is famous not only for his basketball skills but also for his acumen for business.
During his 19-year tenure in the NBA, Shaq managed to earn nearly $287 million in salaries by just playing in the league. Apart from this huge salary, Shaq also had several endorsements, sponsorships, and ventures from which he earned a huge amount of money.
Unlike other NBA players, Shaq put his hard-earned money to good use. In short, he played smart with his money and doubled his net worth over years.
As of 2022, Shaq has a massive net worth of $400 million. Shaq’s net worth is an ode to his smart business decisions.
Over time, Shaq has invested in several businesses, and ventures and even done hundreds of sponsorships. His most notable business deal was his famous Google deal which made him a few million richer.
Furthermore, Los Angeles Lakers legend, Shaq is a self-confessed franchise lover. The Big Diesel is known to heavily invest in different franchises.
Let us know more about Shaq’s love for franchising and does he own Five guys.
Shaq has a unique belief in investing in a business. He only invests in businesses that he wholeheartedly believes in. He only steps into a business that will help change people’s lives.
Also, Shaq is inspired by Jeff Bezos and follows Bezos’ investment strategy. And until now, his belief seems to be working.
According to sources, Shaq owns around 40 fitness centers and over 150 car washes. He also has a niche for food franchises. Shaq is a brand ambassador for Papa John’s and owns 9 units. He is also the owner of 17 Auntie Anne’s Pretzels restaurants. It is said that Shaq also owns several restaurants, a shopping center, a movie theater, and several Las Vegas nightclubs. Shaq also has a few Krispy Kreme franchises.
In a brief estimate, Shaq owns over 200+ business locations, which include several franchises and ventures.
As said before, Shaq is a huge franchise guy and naturally, he ventured into the Five guys franchise.
But, NO, Shaq does not actually own the company of Five guys but owns several franchises of Five guys.
Given Shaq’s choices of investing in consumable products/services, he went big with the Five guys franchise.
Over the years, Shaq purchased 155 total chains of ‘Five Guys’ all across North America. This comes to about 10% of all Five Guys restaurants in existence.
Here’s a fun stat regarding Shaq’s 155 ‘Five guys’ franchise.
According to sources, the investment required for opening a chain of your own is anywhere between $306,200 and $716,250. The median for this range is $511,225. If we were to use this figure for every single one of the 155 chains of Five guys Shaquille O’Neal opened, his investment would come to $79.2 million.
So, Shaq invested around $80 million to open 155 franchises of Five guys.
The investment number might look huge but the initial investment is nothing compared to the profit that Shaq enjoys.
An average owner of a Five guys franchise makes up to $1.2 million off one chain in a year. Multiply that by 155 and Shaq is definitely making his money with no tension.
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