Hungry Jack’s makes eye-watering sales figure, surpasses $2 billion threshold

This is the first time the business has surpassed the coveted number, 54 years after launching in Australia.

Fast food chain Hungry Jack’s has hit an eye-watering $2 billion in sales for 2023.

Despite the cost of living crisis gripping the nation, the burger staple with 455 stores across Australia, has enjoyed a massive uplift to its sales figures in the past year.

In comparison, last year Hungry Jack’s made $1.776 billion in sales, meaning its latest sales number is an increase of 11 per cent.

The Hungry Jack’s business is privately owed but in conversation with The Australian, its founder Jack Cowin revealed the staggering figure.

“I think if you are buying a new car or buying a new house that (interest rates are) probably a factor but we are in a different category now. We are now part of the ordinary way of life these days than if you went back 30 years ago when we were in the treat business and probably more vulnerable,” Mr Cowin told the publication.

Canadian-born Cowin launched Hungry Jack’s in Australia 1969 starting off in Perth and this is the first time the business has exceeded $2 billion in purchases in the following 54 years.

Hungry Jack's is an Australian fast food staple after 54 years in business. Photo: Elizabeth Neil

Hungry Jack’s has emerged as one of the clear favourites among Australians for their burger fix, and in a surprising move might even be more popular than KFC from a numbers perspective.

In June this year, it was reported that KFC’s Australian arm had surpassed the coveted $1 billion mark in sales, coming in at $1.35 billion for the year to April 30.

McDonald’s still firmly remains as the ultimate winner in Australia’s fast food scene, having passed the $2 billion sales threshold in 2022, well ahead of its competitors.

Accounts for McDonald’s Australia, released in May of this year, revealed the brand had hit a record $2 billion in sales in 2022 due to the popularity of its coffee and home delivery options.

McDonald’s released its third quarter sales on Monday local time (Tuesday morning AEDT) revealing it had raked in US$6.7 billion (AU$10.5 billion) globally.

Hungry Jack’s announced the $2 billion figure on Monday. Photo: Elizabeth Neil

Mr Cowin managed to turn Hungry Jack’s into a profitmaking machine after securing $10,000 from 30 Canadians before moving to Australia.

The decision clearly paid off; according to the Forbes rich list, the fast food mogul has a net worth of $4.2 billion.

The original investments from his 30 silent partners now represents a two per cent stake in the company, and their $10,000 is now worth closer to $40 million.

In another interesting twist, Hungry Jack’s started off as the Australian master franchisor for American chain Burger King.

In 1971, Burger King tried to launch their own head-office based franchise in Australia, only to discover that there was already a franchise operating in the country.

It was here the name was changed to Hungry Jack’s and it went on to become the largest Burger King franchisee outside of the US — even though it didn’t do business under the Burger King name.

This didn’t go down well after the Burger King trademark expired in Australia and the case landed in court in 2001.

Hungry Jack’s eventually won the court case, thereby also gaining the rights to name their outlets across Australia under the Burger King banner.

But in a surprising decision, the brand decided to stick with the Hungry Jack’s name, as it was already well-established and known as a purely Australian business.

Originally published as Hungry Jack’s makes eye-watering sales figure, surpasses $2 billion threshold