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Ghost Franchises

May 26, 2021 | Trends

Greenville, N.C.-born Jimmy Donaldson has morphed into MrBeast, a 22-year-old YouTube star with 63 million subscribers. In December 2020, he told his followers โ€œI literally just opened 300 restaurants all across America.โ€ He was referring to the launch of a virtual restaurant chain called MrBeast Burger. In just two months, his virtual restaurant chain sold more than 1 million sandwiches.

That was made possible by a Los Angeles-based startup, called Virtual Dining Concepts. The concept behind this new of business resembles that of โ€œghost kitchens,โ€ and is instrumental in the emergence of ghost franchises, like HotBox by Wizโ€ from rapper Wiz Khalifa, which is โ€œghostedโ€ by Denver-based Nextbite. The parent company of Nextbite, another pioneer of the virtual franchise model, received $120 million in venture-capital funding for its 13 virtual brands.

Ubertrend Categorization: Digital Lifestyle.

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