Dallas, Texas–(Newsfile Corp. – April 26, 2022) – Franchising company, CMG Companies (CMG), has established itself as a key leader in the franchise industry and is leading the way in philanthropy with its last efforts. The franchising industry is becoming more profitable every year, and in 2022 alone, franchised business output is expected to grow 4.9% to $826.6 billion.
With a portfolio that spans various restaurants, retail, hotels and sports teams, the Dallas-based company has big plans to diversify and branch out into other sectors after completely dominating the F&B industry. Most notable is their foray into humanitarian work.
After first becoming franchisees in 2001 when they signed up for the Genghis Grill franchise program, within a few years they grew to the point of being able to purchase the entire Genghis Grill concept.
CMG quickly grew its influence in the fast food space, investing in brands such as KFC and Taco Bell, Little Caesars and Sonic. Starting with a single KFC and Taco Bell store, CMG now operates over 200 across the country. Since opening that first Genghis Grill store, CMG has branched out and repeated this process with a host of other well-known brands, including Hilton and Rent-A-Center.
Al Bhakta, one of the company’s six founders, points out that while franchising is what they operate on, it is not a key detail in growing their business,”The most rewarding part of what we do at CMG is creating successful career paths for people and watching them grow. We often talk about how we aim to “fill the boat” and take as many people with us on this journey as possible..”
This mentality is embodied in CMG’s charitable wing, Chalak Mitra Life, which funds a number of philanthropic activities and organizations around the world. Their commitment to charitable work is underpinned by one of CMG’s core values - “Respect everything, everyone, always.“
CMG has positioned itself as one of the biggest players in this market: they now operate in more than thirty states, employ more than seven thousand people and engage in automotive, retail and sports investments. . For example, leading the Barbados Royals of the Caribbean Premier League en route to their second league championship in 2019. They are currently minority partners of India’s successful Premier League cricket team, Rajasthan Royals, as well as minority partners of the Dallas Sidekicks, a football club. domestic franchise with the Major Arena Soccer League.
CMG, formerly known as Chalak Mitra Group, was started by six college friends who wanted to take full advantage of the opportunities their immigrant parents fought for them and, in essence, it gave the company a twist. which is currently lacking in franchising companies. .
Ron Parikh, one of the six directors, recalls: “We knew that ultimately we all wanted to make something of ourselves. Our parents sacrificed a lot for us, and we knew the best way to thank them was to make the most of what they had given us. We developed a strong vision for CMG and implemented it.”
The business focuses on multi-unit franchising, and CMG has previously been named “Franchise Times Top 25 multi-unit franchise operator” and most recently in 2022 named by the International Franchise Association as franchisee of the year. The close-knit team of founders were also recognized as 2012 EY Entrepreneur of the Year nominees and 2019 40 under 40 honorees.
But amid the acclaim CMG has received, the team of six best friends understand that the heart of any business is the people who hold it together and they will do everything possible to protect both people and the environment with the funds they have raised.
Name: Al Bhakta
Email: [email protected]
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