Five Guys is a popular American fast-casual restaurant chain that has become known for its high-quality burgers, fresh ingredients, and casual dining atmosphere. Since its inception, the company has grown rapidly, expanding to hundreds of locations across the United States and internationally. But who is behind the ownership of Five Guys? The story of Five Guys’ ownership is rooted in the Murrell family, a family that played a pivotal role in the restaurant’s founding and growth.
The Founding of Five Guys
Five Guys was founded in 1986 by Jerry Murrell and his four sons—Jim, Matt, Chad, and Ben—in Arlington, Virginia. The name “Five Guys” is a reference to the original five members of the Murrell family who were involved in starting the business. Initially, the Murrells opened a small burger joint with the mission of serving fresh, high-quality burgers and fries, offering a customizable experience with a focus on quality and customer satisfaction.
The first location was a modest carry-out burger shop that quickly became popular for its fresh ingredients, hand-cut fries, and simple menu. However, the business didn’t start with grand expansion plans. It was, at first, a family-run establishment with no intention of franchising. It wasn’t until the mid-2000s that the Murrell family made the decision to franchise the brand, which would propel Five Guys into its current status as one of the most successful burger chains in the world.
Five Guys Ownership Structure and Expansion
Five Guys remains a family-owned business, with the Murrell family retaining significant ownership and control over the company. However, the chain’s expansion and success have involved various business decisions and investments along the way.
In the early 2000s, the Murrells made the strategic decision to begin franchising Five Guys, a move that would allow the company to grow rapidly across the United States. The company’s success quickly caught the attention of investors, and this was one of the key drivers behind its expansion. By the mid-2000s, Five Guys began opening franchise locations, and the company’s model for serving high-quality burgers in a quick-service format resonated with customers, sparking the brand’s rapid growth.
Who Holds the Ownership of Five Guys?
While Five Guys is now a multi-billion-dollar company with locations worldwide, the ownership remains predominantly in the hands of the Murrell family. Jerry Murrell, the founder of the company, has remained heavily involved in its operations and growth. His sons—Jim, Matt, Chad, and Ben—also play important roles within the company, both in terms of leadership and ownership.
Though there have been some outside investments and involvement from other parties, the Murrell family still holds the lion’s share of the company. The family has been careful to maintain control of Five Guys throughout its expansion, and they continue to make decisions that guide the company’s future direction. The Murrells’ focus on maintaining high-quality standards and a family-friendly atmosphere remains a core part of the brand.
Financial Backing and Investments
In addition to the Murrell family’s leadership, Five Guys has had some involvement with private investors. For example, in 2011, a group of investors led by the venture capital firm Bessemer Venture Partners purchased a minority stake in the company, which helped fund its aggressive expansion strategy. This partnership allowed Five Guys to open more locations and accelerate its growth in both domestic and international markets.
Despite outside investment, the Murrell family retains control, and the brand continues to be privately held. The decision to remain private allows the Murrells to have greater flexibility in how they operate the business and grow the brand without being beholden to public shareholders or quarterly financial pressures.
The Murrell Family’s Role in the Company
The Murrell family’s influence is evident in nearly every aspect of Five Guys. Jerry Murrell, the patriarch of the family, has served as the face of the brand and a key decision-maker for years. He is often seen as the embodiment of the company’s commitment to quality and customer satisfaction. His sons have also played significant roles in the development and management of the company. The family’s hands-on approach to business has been a hallmark of Five Guys’ success.
Each son has taken on different responsibilities within the company. Jim Murrell, for instance, has had an active role in overseeing the company’s expansion and franchise operations. Matt and Chad have also worked in leadership roles, helping with the brand’s marketing, operations, and strategic decisions. Ben, the youngest son, joined the company later but has played an important role in growing the business in international markets.
The family dynamic has remained strong throughout the years, with the Murrells’ shared values continuing to shape the company’s culture and ethos.
Key Moments in Five Guys’ Ownership History
Here are some notable moments in Five Guys’ ownership and growth:
- 1986: Jerry Murrell and his sons open the first Five Guys restaurant in Arlington, Virginia.
- 2002: Five Guys begins franchising, marking the beginning of its national expansion.
- 2004: The first Five Guys franchise opens outside Virginia, in Maryland.
- 2011: A group of private investors, led by Bessemer Venture Partners, buys a minority stake in Five Guys, helping the company grow more quickly.
- 2015-2020: Five Guys expands internationally to countries such as the United Kingdom, Canada, and the United Arab Emirates.
Throughout these milestones, the Murrell family has remained in charge, overseeing the company’s growth while staying committed to the core values that made the brand a success: great-tasting burgers, fresh ingredients, and a customer-first mentality.
Conclusion
Five Guys is a classic example of a family-run business that has grown from a humble local establishment into a global brand while maintaining its core values. The Murrell family, led by Jerry Murrell and his sons, continues to be the driving force behind the brand’s success. While outside investments and franchises have helped accelerate growth, Five Guys remains a privately owned company with strong ties to its founding family.
In the competitive world of fast food, Five Guys stands out not just for its premium-quality food, but for the family ownership that has helped guide it to the top. Through careful stewardship and a commitment to quality, the Murrell family has ensured that Five Guys remains a beloved brand for years to come.