(MENAFN- Newsfile Corp) CMG Companies Philanthropic Foray Fueled by Franchising Business Model
Dallas, Texas--(Newsfile Corp. - April 26, 2022) - Franchising company, CMG Companies (CMG), has established itself as a key industry leader in the franchising industry and are leading the path towards philanthropy with their latest endeavors. The franchising industry grows more profitable each year, and in 2022 alone the output of franchise businesses is forecast to increase by 4.9% to $826.6 billion .
With a portfolio that spans across various restaurants, retail, hotels and sports teams, the Dallas-based firm has grand plans for further diversification and are branching out into other sectors after fully dominating the F&B industry. Most particularly noted is their foray into humanitarian work.
After first becoming franchisees in 2001 when they signed up for Genghis Grill's franchise program, in a matter of years they had grown to the extent that they could buy the entire Genghis Grill concept.
CMG quickly built-up their influence in the fast-food space, investing in brands such as KFC and Taco Bell, Little Caesars and Sonic. Starting with just one KFC and Taco Bell store, CMG now runs over 200 across the nation. Since opening that initial Genghis Grill store, CMG has diversified and repeated this process with a host of other renowned brands, including Hilton and Rent-A-Center as well.
Al Bhakta, one of the company's founding six, underlines that while franchising is what they operate on it isn't a key detail in their company's growth, 'The most rewarding part of what we do at CMG is creating successful career-paths for people and seeing them grow. We often talk about how we aim to 'fill the boat' and take as many people with us on this journey as we possibly can.'
This mentality is epitomized in CMG's charity wing, Chalak Mitra Life, which funds a number of philanthropic activities and organizations worldwide. Their commitment to charitable work builds on one of CMG's core values - 'To respect everything, everyone, always.'
CMG have positioned themselves as one of the biggest players in this market: they now operate in over thirty states, and have a workforce of over seven thousand and are dabbling in automotive, retail, and sports investments. Such as leading the Caribbean Premier League's Barbados Royals on their way to their second league championship in 2019. They are currently minority partners of the successful Indian Premier League cricket team, Rajasthan Royals as well along with being minority partners with the Dallas Sidekicks, a soccer indoor franchise with Major Arena Soccer League.
CMG, formerly known as Chalak Mitra Group, was created by six college friends who wanted to take full advantage of the opportunities that their immigrant parents fought for them and in essence, it's given the company a human touch that is something that franchising companies currently lack.
Ron Parikh, one of the six Principals, recalls, 'We knew that, at the end of the day, we all wanted to make something of ourselves. Our parents made a lot of sacrifices for us, and we knew the best way to repay them was to make the most of what they'd given us. We put together a strong vision for CMG and delivered on it.'
The business focuses on multi-unit franchising, and CMG has previously been named as a 'Franchise Times Top 25 multi-unit franchise operator' and most recently in 2022, named by International Franchise Association as a Franchisee of the Year honoree. The close-knit team of founders have also received recognition as 2012 EY Entrepreneur of the Year nominees and 2019 40 under 40 honorees .
But amid the acclamation CMG has received, the team of six best friends understand that the heart of any business is the people that hold it together and they will go to great lengths to protect both the people and environment with the funds they have amassed.
Name: Al Bhakta
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