Retail and Business Conglomerates
A Look into the Trend of Chain Businesses and Restaurants
The personality and culture of business has changed considerably over the last several decades. One change has been that of chain businesses. Chain businesses have replaced individually owned or independent businesses. Many believe this has been a detriment to the economy because of its effect on the small business owner, while others view chain businesses as a positive because of their ability to offer lower prices to the consumer.
No matter one's opinion concerning chain businesses, it is clear that this business concept is here to stay. Surprisingly, many chain businesses are connected although they may be viewed as competitors. Following are a few examples:
Examples of National Chain Stores/Restaurants
- Yum! Brands, Inc. is the parent company of many restaurants. Their business portfolio includes well known fast-food restaurants such as Taco Bell, A & W, Long John Silver's and Kentucky Fried Chicken.
- Bon-Ton, Inc. is a chain of department stores. Stores in their business family include Younker's, Bergner's, Boston Store, Carson Pirie Scott and Elder Beerman Stores.
- Darden Restaurants, Inc. is another chain of popular restaurants. The corporation is made up of Red Lobster, Olive Garden, Longhorn Steak House, The Capital Grille, Bahama Breeze and Seasons 52 restaurants.
- Hair salons are also merging to make large retail conglomorates. Regis Corporation is the parent company to several salons throughout both North America and Europe. These salons include the Regis Salon, SmartStyle, Supercuts, Cost Cutters, Promenade Salons, Sassoon Salon, City Looks and Carlton Hair International.
- Cedar Fair Entertainment Company is the owner and manager of amusement parks throughout the United States and Canada including Cedar Point of Ohio, Canada's Wonderland, Kings Island and Kings Dominion.
Oftentimes many of these businesses are within walking distance of one another. Yum! Brands, Inc. has recently started building joint restaurants, i.e. a combined Kentucky Fried Chicken and Taco Bell. Additionally, Darden Restaurants now offer gift cards that can be used at either a Red Lobster or Olive Garden, or other combination of their restaurants. Some other national chains include hotels/motels, coffee shops, malls, casinos, pet stores and realtors.
Regional and Local Chain Stores/RestaurantsVarious regional and local businesses have also merged to share management and other resources. One example is that of the Gilmore Collection, a chain of restaurants in Grand Rapids and throughout Western Michigan, and Georgia (and American) Backyard, a casual/outdoor furniture retailer with locations throughout the states of Georgia, Florida and Texas .
So the next time you visit a retailer and decide to visit a competitor down the street, just note that the competitor may not actually be a competitor at all. Instead, they may actually be siblings sharing the same parent company.
