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<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Courtesy of Cheryl Bachelder</span></p><p class="caption">"This success story would not exist without KFC," said Cheryl Bachelder, pictured.</p></div><p></p></div></div>"A really ugly day."</p><p>That's how Cheryl Bachelder describes the day in 2003 when a Louisville newspaper published an unflattering photograph of her, along with the headline "Cheryl Bachelder Replaced."</p><p>Specifically, she'd been replaced as president of Kentucky Fried Chicken restaurants, where she'd served for about two years. Her kids saw the news in school.</p><p>The anecdote about Bachelder appears in "<a href="https://www.amazon.com/dp/B01ARKV3JO/ref=dp-kindle-redirect?_encoding=UTF8&amp;btkr=1&amp;tag=bisafetynet-20">Earning It</a>," a new book by Joann Lublin, who is management news editor at The Wall Street Journal. Lublin interviewed dozens of high-powered women about the personal and professional obstacles they faced on the path to success - and Bachelder's stands out as both cringeworthy and inspiring.</p><p>Today, Bachelder is the CEO of fast-food restaurant chain Popeyes Louisiana Kitchen, Inc. Bachelder told Lublin that the experience at KFC made her a stronger leader for two reasons. One, she learned to prioritize short-term results along with long-term strategy. And two, <strong>s</strong>he learned to treat people with dignity when she let them go.</p><p>When Bachelder took over KFC, the company was already troubled. "I thought the brand could be revitalized," she told Lublin. Bachelder was soon after diagnosed with breast cancer and worked throughout her treatment - but afterward, she told Lublin that "everything I touched turned to mud."</p><p>Lublin writes that, during Bachelder's tenure, KFC was plagued by negative press coverage around the lawsuits linking obesity to fast food and the new advertisements and products grew unpopular.</p><p>Bachelder said she focused on long-term fixes - but admits that was where she went wrong. Senior executives at Yum Brands, KFC's parent company, demanded short-term results. And Bachelder didn't make it clear enough to management that she was focusing on long-term strategy.</p><p>At some point, Bachelder decided things weren't working out, and it was time for her to resign. Walking to the office of Yum Brands' CEO, she ran into him in the hallway - he'd been coming to tell her the same thing.</p><p>In an interview with Business Insider, Lublin said the failure "totally shaped and changed [Bachelder's] leadership style. When she then ran Popeyes, she came in with a much different understanding of the need for a publicly held company to perform well every quarter."</p><p>At Popeye's, Bachelder's efforts - including reducing costs, speeding up service, and adding new menu items - prompted a 190% gain in the share price by March 2014. Popeye's currently holds a <a href="https://finance.yahoo.com/quote/PLKI?p=PLKI">$1.3 billion</a> market capitalization.</p><p>As Bachelder told Lublin: "This success story would not exist without KFC."</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/fear-failure-motivator-strategy-jenny-blake-career-2016-9"> How to turn your fear of failure into a motivator</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="ttdGwwNjE62379wSGSZtOgqnGiFkIGP9" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

The CEO of Popeyes says one of her biggest professional successes 'would not exist' if she hadn't been fired earlier in her career

<p class="p1"><div class="KonaFilter image-container display-table float_right click-to-enlarge"><div><div class="image on-image"><a title_source="Courtesy of Cheryl Bachelder" title_caption="Popeyes Louisiana Kitchen CEO Cheryl Bachelder (left) with an employee." class="zoomin" href="https://static-ssl.businessinsider.com/image/551ea4bd69bedd645fa43755-960/cheryl-bachelder-with-popeyes-employee-1.jpg"><span class="sprites click-to-enlarge-icon" title="Click to enlarge"></span></a><p class="source"><span>Courtesy of Cheryl Bachelder</span></p><p class="caption">Popeyes Louisiana Kitchen CEO Cheryl Bachelder (left) with an employee.</p></div><p></p></div></div>In the theater of life, when the lights dim and the spotlight hits the stage, it typically shines on the leader. All eyes are fixed on them - the protagonist, the visionary who expects you to follow. </p><p class="p1">But according to Cheryl Bachelder, the CEO of restaurant chain Popeyes Louisiana Kitchen, the most effective leaders step out of the spotlight and turn it instead on those they lead. </p><p class="p1">They possess two traits that set them above the rest, she says. They are "courageous enough to take people to a daring destination, and humble enough to selflessly serve others on the journey." </p><p class="p1"><span>Having the <strong>courage</strong> to set big goals and the<strong> humility</strong> to put the needs of your followers above your own describes a management style called "servant leadership." </span></p><p class="p1"><span><span>In her new book, "</span><a href="http://www.amazon.com/Dare-Serve-Superior-Results-Serving/dp/1626562350/?tag=bisafetynet-20">Dare to Serve: How To Drive Superior Results While Serving Others</a><span>," Bachelder details how embodying these characteristics </span>helped her achieve a dramatic turnaround at Popeyes, which went from $13 per share <span>when she took over as CEO in 2007 to <span>trading in the </span>$60 range today.</span></span></p><p class="p1"><span>Bachelder <a href="http://www.businessinsider.com/popeyes-ceo-servant-leadership-traits-2015-3">tells Business Insider</a> that many <span>people "discount this as nice-guy leadership that's about hugs and campfires." In reality, it is the most effective form of leadership, she says, since employees perform best when management sets high expectations and then provides respect and support.</span><br /></span></p><p class="p1"><span><span><span>"<span>When you ask someone to tell you about their best boss, they tell you about the ambitious accomplishment they had under the leader, and how the leader made it possible for them to have this remarkable achievement," she says.</span></span></span></span></p><p class="p1"><span><span><span><span>Of course, it's not always easy to help others shine. Business is competitive, and "w<span>e're all trained to win," <span>Bachelder notes.</span></span></span></span></span></span></p><p class="p1"><span><span><span><span>"I'm imperfect like everyone else," <a href="http://www.businessinsider.com/popeyes-ceo-servant-leadership-traits-2015-3">she says</a>. "That's the point. I aspire to do better. Every day I hold a mirror and ask, 'Did I live up to my values today?'" </span></span></span></span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/iphone-headphones-tricks-2015-2">14 things you didn't know your iPhone headphones could do</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="o2OGM3czpWcydnvhjbkDBd6feXPuExiD" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

The CEO of Popeyes says the greatest leaders possess these 2 traits

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>When Cheryl Bachelder started at Popeyes Louisiana Kitchen, the struggling restaurant chain needed help.</p><p><span style="line-height: 1.5em;">Its stock had sunk from a peak of $34 per share in 2002 to just $13 when she took over as CEO in 2007.</span></p><p>In her new book, "<a href="http://www.amazon.com/Dare-Serve-Superior-Results-Serving/dp/1626562350/">Dare to Serve: How To Drive Superior Results While Serving Others</a>," Bachelder describes how becoming a "servant leader" helped her achieve a dramatic turnaround at Popeyes, which now has a market cap of $1.4 billion.<span style="line-height: 1.5em;"> </span></p><p>By executing an aggressive growth plan and aiming to serve the interests of the franchise owners, average restaurant sales jumped 25%, profitability improved, market share increased, and the stock is now trading in the $60 range.<span style="line-height: 1.5em;"> </span></p><p>In an interview with Business Insider, Bachelder discusses how she did it, her leadership style, and her most humbling career moment.<span style="line-height: 1.5em;"> </span></p><p><em>This interview has been condensed and edited for clarity.</em><strong style="line-height: 1.5em;"> </strong></p><p><strong>BUSINESS INSIDER: Your book is a case study in servant leadership. Why did you decide to write it?</strong><span style="line-height: 1.5em;"> </span></p><p><strong>CHERYL BACHELDER:</strong> About 14 years ago, I met Jim Collins around the time he wrote "<a href="http://www.amazon.com/Good-Great-Some-Companies-Others/dp/0066620996/">Good To Great</a>." He said that great leaders have a paradoxical mix of personal humility and professional will; they're ambitious for the company, not themselves. Research suggests this certain kind of leader can deliver superior results. I wanted to practice it, and Popeyes is that case study.<strong style="line-height: 1.5em;"> </strong></p><p><strong>BI: How can a manager become a servant leader?</strong><strong style="line-height: 1.5em;"> </strong></p><p><strong>CB:</strong> When you ask someone to tell you about their best boss, they tell you about the ambitious accomplishment they had under the leader, and how the leader made it possible for them to have this remarkable achievement.<span style="line-height: 1.5em;"> </span></p><p>It's being courageous by setting aspirational goals combined with the humble serving of others along that journey. The tension between daring and humble is what creates the best circumstances.<strong style="line-height: 1.5em;"> </strong></p><p><strong>BI: What's different about this versus other leadership styles?</strong><strong style="line-height: 1.5em;"> </strong></p><p><strong>CB:</strong> The biggest distinction of a leader who serves others versus themselves is the ability to listen. When you listen, you hear people's objections, anxieties, and fears - and you also hear the solutions.<strong style="line-height: 1.5em;"> </strong></p><p><strong>BI: What's the hardest part?</strong><strong style="line-height: 1.5em;"> </strong></p><p><strong>CB:</strong> We're all trained to win, to be exceptionally competitive. There's nothing wrong with that, except when it's for your purpose and not your enterprise.<span style="line-height: 1.5em;"> </span></p><p>Being a servant leader means I'm going to do this regardless of the recognition I might miss out on. I don't claim to do that well every day. I'm imperfect like everyone else. That's the point. I aspire to do better. Every day I hold a mirror and ask, did I live up to my values today?<strong style="line-height: 1.5em;"> </strong></p><p><strong style="line-height: 1.5em;"><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div></strong></p><p><strong>BI: Maybe a CEO can be humble. They've got the top job. But what if you're a middle manager? Can't it hurt you to fade into the background?</strong><span style="line-height: 1.5em;"> </span></p><p><strong>CB:</strong> I don't think this is invisible leadership. I think it's effective leadership. What's wrong with the recognition of a leader coming from their results rather than them taking the spotlight?<span style="line-height: 1.5em;"> </span></p><p>One of the things I've learned at Popeyes is how much introverted leaders help performance. They quietly do great things.<span style="line-height: 1.5em;"> </span></p><p><strong>BI: What's the biggest misconception about servant leadership?</strong><span style="line-height: 1.5em;"> </span></p><p><strong>CB:</strong> Most people discount this as nice-guy leadership that's about hugs and campfires. Very few people have considered it might be the most effective. The greatest benefit is superior performance.<span style="line-height: 1.5em;"> </span></p><p>Our goals are more aspirational, so the company is braver. We give dignity to human beings, and we attempt to be humble. People perform better under those conditions.<span style="line-height: 1.5em;"> </span></p><p><strong>BI: How has this worked in practice at Popeyes?</strong><span style="line-height: 1.5em;"> </span></p><p><strong>CB:</strong> This company hadn't been performing well in years. We asked ourselves who we would serve, and we decided on the franchise owners. We put every decision we made through the filter of how well it served the franchise owner. Then, over the course of the next several years we checked performance against the measures of what makes franchise owners successful. Together, we've created this high-performing company.<span style="line-height: 1.5em;"> </span></p><p>That doesn't sound like rocket science. But as simple as it sounds, it appears to be successful, and the shareholders have been served well, too.<span style="line-height: 1.5em;"> </span></p><p><strong><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>BI: Do you attribute the turnaround only to this style?</strong><span style="line-height: 1.5em;"> </span></p><p><strong>CB:</strong> It's <em>how</em> we worked and <em>what</em> we've done that's created success. Either one alone is not enough.<span style="line-height: 1.5em;"> </span></p><p>We wanted to build more than 100 restaurants a year in the US and expand internationally. We did a lot of hard work on the brand and our operations. We improved profitability by 40% by finding supply chain savings. We absolutely had a business plan with bold goals, and we married that with our decision to serve owners well.<span style="line-height: 1.5em;"> </span></p><p><strong>BI: You write that early in your career your mantra was: "Think like a man, act like a lady, work like a dog." When did that view shift?</strong><span style="line-height: 1.5em;"> </span></p><p><strong>CB:</strong> Like most people my head was down working hard to demonstrate skills, get results, and find development and growth opportunities. It was when I looked up and questioned what type of leader I wanted to be that my views started to shift.<span style="line-height: 1.5em;"> </span></p><p><strong>BI: When did it become clear that you needed to do things differently?</strong><span style="line-height: 1.5em;"> </span></p><p><strong>CB:</strong> My humbling experience was leading KFC and getting fired. I wasn't achieving results, and you have to have a strong strategic plan to serve the people well. I had the right style but not the right substance, and I wasn't successful.<span style="line-height: 1.5em;"> </span></p><p>It was unsettling. It forced a lot of reflection. But I came out a better leader.<strong style="line-height: 1.5em;"> </strong></p><p><strong>BI: What's your mantra now?</strong><span style="line-height: 1.5em;"> </span></p><p><strong>CB:</strong> Leadership is an extreme sport. People who participate in extreme sports grow in both courage and humility. This experience has only made me more humble - I know I didn't do it myself - but it's also made me more courageous. I can't wait to set the next big goals.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/drunk-driving-checkpoint-regulation-hack-2015-2">A lawyer in Florida has come up with an ingenious way for drivers to evade drunken-driving checkpoints</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="EwZXE5czqobpJLXsPUCBDsxSm8XxaRw0" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

The CEO of Popeyes says becoming a 'servant leader' helped her turn around the struggling restaurant chain

<p><span style="font-weight: 400;"><div class="KonaFilter image-container display-table float_right"><div><div class="image"><p class="source"><span><a href="http://www.thrillist.com/eat/nation/biting-into-popeyes-beautiful-beguiling-chicken-waffle-tenders-the-taste-test?utm_medium=syn&amp;utm_source=businessinsidert&amp;utm_term=web">via Thrillist</a></span></p></div><p></p></div></div>As American and international appetites for chicken heat up, Popeyes Louisiana Kitchen is on a roll. </span></p><p><span style="font-weight: 400;">On Tuesday, the chicken chain announced plans to increase its global restaurant count to 4,000 from 2,500 in the next seven to 10 years. This comes after the chain opened a record-setting 219 new restaurants in 2015. </span></p><p><span style="font-weight: 400;">But <span>CEO Cheryl Bachelder says that </span>as the chain expands in the US and abroad, the company's biggest competitors are not KFC and Chick-fil-A, two other quickly growing chicken chains. </span></p><p><span style="font-weight: 400;">"A lot of people might think Popeyes' biggest competitor might be another chicken QSR chain," <span>Bachelder told Business Insider, using an abbreviation for fast-food restaurants, "</span>but actually our customers more often are in the large burger chains. They've chosen - their favorite chicken is Popeyes, and their alternative is a burger chain."</span></p><p><span style="font-weight: 400;"><div class="KonaFilter image-container display-table"><div><div class="image"><p class="source"><span>Hollis Johnson</span></p><p class="caption">Offerings from KFC and Popeyes.</p></div><p></p></div></div></span></p><p><span style="font-weight: 400;">Bachelder said persuading customers to pick Popeyes chicken over that of competitors wasn't a major concern. </span></p><p><span style="font-weight: 400;">"At Popeyes we don't use the word loyal - we use zealot," Bachelder said. "You become a Popeyes zealot as soon as you experience Popeyes food."</span></p><p><span style="font-weight: 400;"><div class="KonaFilter image-container display-table float_right"><div><div class="image"><p class="source"><span><a href="http://bcove.me/6aaeycz1">Popeye's</a></span></p></div><p></p></div></div></span></p><p><span style="font-weight: 400;">In addition to the plans to open 1,500 new locations, Popeyes announced this week that it planned to grow domestic average unit volumes to $2 million from about $1.4 million, increasing franchisee profitability.</span></p><p><span style="font-weight: 400;">These goals were announced as the chain reported that global sales at restaurants open at least a year, or same-store sales, increased 5.9% in 2015, with net income for the year reaching $44.1 million. </span></p><p><span style="font-weight: 400;">Looking ahead, the company says it plans to invest $2 million this year in funding more location visits and coaching, as well as new technology. Bachelder says Popeyes' three strategic pillars will continue to be its passionate teams of employees, routine excellence, and Louisiana heritage. </span></p><p><span style="font-weight: 400;">"I think of us as the exporter of Louisiana food, both in the United States and around the world," Bachelder said, "because if you haven't tasted these incredible flavors, you just haven't lived yet."</span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/shake-shack-new-chicken-sandwich-chickn-shack-2016-1">We tried Shake Shack's new Chick-fil-A killer</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="13bDA3MDE6fMdrii0OIxTEg6bb5ACEfj" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

This chicken chain says it's going after McDonald's and Burger King - not KFC or Chick-fil-A

<p><div class="image-container float_right" style="width:400px"><div class="image"></div><p class="source">Popeyes Louisiana Kitchen</p></div><em>Today's <keyword id="70503" type="UNKNOWN" weightage="60" keywordseo="advice">advice</keyword> comes from <keyword id="1779818" type="UNKNOWN" weightage="60" keywordseo="Cheryl-Bachelder">Cheryl Bachelder</keyword>, CEO of <a href="http://popeyes.com/">Popeyes</a>, via <a href="http://www.ceo.com/flink/?lnk=http%3A%2F%2Fwww.forbes.com%2Fsites%2Fjennagoudreau%2F2013%2F01%2F07%2Fpopeyes-ceo-to-women-dont-waste-time-trying-to-fit-in%2F&amp;id=295578">Forbes: </a></em></p>
<p class="exit_trigger_set" data-ls-seen="1"><em></em>"The thing I wish I had learned at a younger age is the importance of bringing your authentic self to your leadership and your workplace. Women spend a lot of years trying to figure out: What do I have to do to make these people happy? What do I have to wear? How should I talk? What behaviors are expected of me? We spend all our energy trying to give them what they want. It totally distracts us from our best selves and coming to work with something to offer."<em></em></p>
<p><em></em>Instead of listening to what everyone else had to say, Bachelder says workers need to learn to think about what's best for themselves first. We are often our own worst critics so adding everybody else's opinion into the mix can only make matters worse. You will find that other people will respect you when you begin to respect yourself.</p>
<p>"Acknowledge your talents, and as quickly as possible gain confidence in yourself, so that you can be a genuine, authentic contributor and not all that worried about what other people think."</p>
<p><em><span style="font-size: 13px; line-height: 1.5em;">Want your business advice featured in <keyword id="1737653" type="UNKNOWN" weightage="60" keywordseo="Instant-MBA">Instant MBA</keyword>? Submit your tips to </span><a href="mailto:tipoftheday@businessinsider.com">tipoftheday@businessinsider.com</a><span style="font-size: 13px; line-height: 1.5em;">. Be sure to include your name, your job title, and a photo of yourself in your email.</span></em><span style="line-height: 1.5em;"> </span></p>

INSTANT MBA: Stop Worrying About What Other People Think

<p></div><p></p></div><span class="il">Cheryl</span><span> Bachelder</span> is the CEO of Popeyes Louisiana Kitchen, Inc. and author of "<a href="http://www.amazon.com/Dare-Serve-Superior-Results-Serving/dp/1626562350">Dare to Serve: How to drive superior results by serving others</a>."</span></em></p><p class="p1"><span class="s1">I am a night owl - so I'm not a big fan of morning, but I've created a routine to get me in the right frame of mind for the day. </span></p><p class="p1"><span class="s1">My morning starts with music. When I was a child, my mother woke us up with inspiring music, and I have continued that tradition. </span></p><p class="p1"><span class="s1">Recently I created a playlist of songs that wake me up and play through my morning activities. </span></p><p class="p1"><span class="s1">My current playlist begins with a children's song, "Rise and Shine and Give God the Glory, Glory" and ends with a traditional hymn that my grandmother loved - "I Need Thee Every Hour." My playlist reminds me of the family that I love and the purpose of the day.</span></p><p class="p1"><span class="s1">I love breakfast. My favorite menu when I travel is scrambled eggs, crisp bacon and rye toast. At home, I like steel-cut oatmeal.</span></p><p class="p1"><span class="s1">Coffee is essential. When I am in town, my amazing husband Chris goes to Dunkin' and brings me a large coffee with cream and one Equal. This endears me to him for the day!</span></p><p class="p1"><span class="s1">Vitamins help me stay healthy, but I hate swallowing pills. My doctor suggested gummi vitamins. How fun is that? Each day I take multivitamins, calcium, and probiotics, and they taste like candy.</span></p><p class="p1"><span class="s1">Reading and quiet time to reflect are the most important part of my morning routine. </span><span class="s1" style="line-height: 1.5em;">I'm currently reading "<a href="http://www.amazon.com/Leadership-Secrets-Salvation-Robert-Watson/dp/1618433156">Leadership Secrets of the Salvation Army</a>" by Robert A. Watson and Ben Brown. </span><span style="line-height: 1.5em;">Peter Drucker called the Salvation Army "the most effective organization in the United States." He didn't qualify the statement to say charitable organization, either.</span></p><p class="p1"><span class="s1">The book is a remarkable story of mission, innovation, stewardship, dedication, and measurable results - lessons that could serve us well in for-profit institutions.</span></p><p class="p1"><span class="s1">Morning is my best time for writing on my blog, <a href="http://cherylbachelder.com/">Serving Performs</a>. About once a week, I wake up with an idea that I want to explore or a story that might encourage and inspire others in their leadership journey. </span></p><p class="p1"><span class="s1">I'm currently writing about the importance of leading your team to a daring destination - a bold audacious goal that is plausible and possible, but well beyond many people's imaginations. This is one of the important ways that a leader serves a team well.</span></p><p class="p1"><span class="s1">To have the energy to lead, we need to be restored and prepared before we get to the workplace. When I honor these routines, it makes a big difference in the day.</span></p><p class="p1"><span class="s1"><em><em><em><strong>The Success Series</strong> is a collection of the best advice from some of our favorite writers, thinkers, and leaders. This week, we asked: "What is your morning routine?" See other articles in the series <a href="http://www.businessinsider.com/category/the-success-series">here</a>.</em></em></em></span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/going-clear-sundance-premiere-scientology-bombshells-2015-1">6 Crazy Things Revealed In HBO's Explosive New Scientology Documentary 'Going Clear'</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="o5dzJpczpndV8YG9M7cnoa3JXgQXBqja" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

How this 'night owl' CEO created a morning routine that makes her a better leader during the day

<p><div class="KonaFilter image-container float_right"><div class="image"><p class="source"><span><a href="http://popeyes.com/menu">Popeyes</a></span></p></div><p></p></div>Popeyes Louisiana Chicken just bought its core recipes from the founder's family for $43 million. </p>
<p>Until now, Popeyes had been paying the family of Al Copeland $3.1 million a year in royalties, reports <a href="http://www.nola.com/business/index.ssf/2014/06/popeyes_buys_recipes_from_founder_al_copelands_family_for_43_million.html">The Times-Picayune</a>.</p>
<p>While the fast food chain now owns the recipes for the famous chicken and biscuits, it will continue to pay Copeland's family for spices. </p>
<p><span style="line-height: 1.5em;">The deal "brings important intellectual property - Popeyes' core recipes - under brand ownership </span>for the first time," Popeyes' CEO Cheryl Bachelder said in a news release <a href="http://eater.com/archives/2014/06/17/popeyes-drops-43-million-on-its-fried-chicken-recipes.php">obtained by Eater</a>.</p>
<p>Al Copeland founded Popeyes Chicken &amp; Biscuits more than 40 years ago. He died in 2008. </p>
<p>Popeyes is popular for its spicy and regular chicken, seafood, biscuits, and sauces. </p>
<p>With just over 1,600 locations, Popeyes is the the <a href="http://nrn.com/top-100/popeyes-louisiana-kitchen">third-largest fried chicken chain</a>, ranking only behind KFC and Chick-fil-A. </p>

Popeyes' Famous Fried Chicken Recipe Is Worth An Insane Amount Of Money

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span><a href="https://www.flickr.com/photos/jeepersmedia/14161751258/in/photolist-omAC8s-nQ3zz1-nzsLWy-oRZsfi-nRQVg5-nzqCB2-nztaa3-nRR1cC-omAZkq-nzqFg9-3Ku1Jc-nRPfKs-nREqgi-nzqywt-nRMgww-nzrxkg-nPSK4m-nPSKhh-nRMd4j-nRVovD-nzrv6M-omADxS-nzqZS9-nRCedk-nzrvxt-nRVqKD-nRR4cf-nPSHa1-nzrxxk-nPSH9E-nzqCK8-nTGNEx-nzr3gC-dQ7o46-nRR4ZN-BSFgeP-aA8inB-nXhTr9-nXpy1V-DmqGZ2-DrobVd-DmqHGz-CwbPhG-CVcmP6-DtGcU8-DtGd9r-DrocAG-y6PR37-y6NQ8f-ym7o4C">Flickr/Mike Mozart</a></span></p><p class="caption">Popeye's Chicken Waffle Tenders</p></div><p></p></div></div>Popeyes' chicken tenders and biscuits are also on the list of things oil workers are cutting spending on.  </p><p>During the second-quarter earnings season, several companies that aren't in the energy sector continued to mention declines in their businesses in oil-producing areas. </p><p>Harley Davidson saw a jump in the number of people in oil-heavy regions who were <a href="http://www.businessinsider.com/add-cheesecake-and-motorcycles-to-the-things-oil-workers-arent-buying-right-now-2016-7">defaulting on loan payments</a>. <a href="http://www.businessinsider.com/low-oil-is-affecting-companies-across-americas-2016-8/#eric-hession-cfo-of-caesars-entertainment-corporation-20">Caesars Entertainment</a> said a lot of weakness was focused around the southeastern US. </p><p>And like The Cheesecake Factory, Popeyes' demonstrates that it's not only spending on big-ticket items that has fallen.</p><p>There was a little bit of weakness in Louisiana and Texas, according to Cheryl Bachelder, Popeyes' CEO, during the earnings <a href="https://alphastreet.co/app#/company/PLKI/transcript/72768#content">call</a>.</p><p>"We have been monitoring very closely whether or not the change in oil prices will be affecting our stores that are in those regions, and only recently in the last six, nine months have there been a slight decline," said William Matt, Popeyes' chief financial officer. </p><p>The oil downturn, which started in June 2014, has eroded consumer confidence and employment in energy-rich regions. And that's why several CEOs have mentioned this impact during their <a href="http://www.businessinsider.com/low-oil-is-affecting-companies-across-americas-2016-8">earnings calls</a>.  </p><p>For the second quarter, Popeyes' on Tuesday reported a 4% increase in revenue to $61.7 million, although it was lower than analysts had estimated.</p><p>Domestic sales slowed to no growth from an 8% increase a year ago due to competition. International sales accelerated year-on-year. </p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/blind-taste-test-popular-chicken-wings-papa-johns-dominos-pizza-hut-buffalo-wild-2016-5">We did a blind taste test of wings from Pizza Hut, Domino's, Papa John's, and Buffalo Wild Wings - the winner was clear</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="1tZGNwMDE6v5lk_FPlkbK3wi35BVyb9l" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Even fried chicken sales are down because of the oil crash

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Shoshy Ciment/Business Insider</span></p><p class="caption">The Pier 1 Imports store we visited had a meticulous display of candles.</p></div><p></p></div></div></p><ul class="summary-list"><li>The home-goods <keyword id="6354851" type="UNKNOWN" weightage="100" keywordseo="retail">retail</keyword> sector is saturated with options - and some are better than others.</li><li><a href="https://www.businessinsider.com/category/pier-1-imports" target="_blank" rel="noopener">Pier 1 Imports</a> was once a leading player in the market, but it has since fallen behind other competitors like <a href="https://www.businessinsider.com/category/target" target="_blank" rel="noopener">Target</a>, <a href="https://www.businessinsider.com/category/amazon" target="_blank" rel="noopener">Amazon</a>, and <a href="https://www.businessinsider.com/category/tj-maxx">TJ Maxx</a>.</li><li>We visited Pier 1 Imports and TJ Maxx to see which store is better for home-goods shopping. Despite its recent struggles, Pier 1 Imports was the clear winner. </li><li><strong><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</strong></li></ul><p>Home-goods retailers are in a competitive market these days - and not every store is making the cut.</p><p>Pier 1 Imports - once a top contender in the home goods and accessories category - has been losing value for <a href="https://www.forbes.com/sites/stevendennis/2019/06/28/pier-1-imports-from-bad-to-worse-to-dire/#1fe89ad42a21" target="_blank" rel="noopener">nearly five years</a>. The company's CEO, Cheryl Bachelder, <a href="https://markets.businessinsider.com/news/stocks/pier-1-imports-increases-store-closures-to-57-1028313952">announced in an earnings call in June</a> it would close 57 stores by the end of its 2020 fiscal year t0 cut costs after weak quarterly earnings results. </p><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/pier-1-imports-vs-target-which-store-better-home-goods-2019-7" target="_blank" rel="noopener">We shopped at Target and the struggling Pier 1 Imports to see which store is better at selling home goods - and there was a clear winner</a></em></p><p>TJ Maxx, on the other hand, has become a go-to destination for shoppers who want a good bargain in general. Ernie Herrman, the CEO of TJX Companies - the parent company of TJ Maxx, Marshalls, and HomeGoods - <a href="https://www.businessinsider.com/tj-maxx-marshalls-to-benefit-from-trump-tariffs-ceo-2019-5" target="_blank" rel="noopener">said in May that business</a> from bargain-driven consumers was likely to increase given the threat of tariffs and subsequent price hikes of other retailers. </p><p>We visited TJ Maxx and Pier 1 Imports to see which retailer is better for home goods. Pier 1 Imports' vast selection and color-infused merchandise was charming enough for it to earn the victory, while the TJ Maxx location we visited disappointed us with its limited and slightly erratic display.</p>

We shopped at TJ Maxx and Pier 1 Imports to see which store is better for home goods - and the winner was unexpected

<p><span style="font-weight: 400;"><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span><a href="https://twitter.com/Bojangles1977/status/668849878047543296">Bojangles</a></span></p></div><p></p></div></div>The biscuit is blowing up. </span></p><p><span style="font-weight: 400;">Researchers at The NPD Group named the biscuit one of the fastest growing menu items last year, reports <a href="http://nrn.com/food-trends/biscuits-rise-above-regional-boundaries">Nation's Restaurant News.</a></span></p><p><span style="font-weight: 400;">The rise of the culinary icon across the US goes hand in hand with the recent explosion of Southern fast-food chains. Biscuit-pushing chains such as Popeyes, Bojangles, and Chick-fil-A are on major expansion sprees. </span></p><p><span style="font-weight: 400;">Bojangles is, at its core, a chicken-and-biscuit chain. The company estimates it has the potential to open more than 3,5000 locations nationwide, most of them outside of states in the Southeast that already have a Bojangles presence. </span></p><p><span style="font-weight: 400;">Currently, Bojangles is expanding by moving into neighboring markets, opening its first West Virginia and third Kentucky locations in 2015. Eventually, the company plans to open hundreds of locations in the Northeast, as well as the Midwest, Texas, and California.</span></p><p><span style="font-weight: 400;"><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Hollis Johnson</span></p></div><p></p></div></div></span></p><p><span style="font-weight: 400;">Popeyes is another chicken restaurant serving up some famous biscuits that is majorly ramping up expansion. The chain <a href="http://www.businessinsider.com/why-popeyes-rivals-are-burger-chains-2016-2">recently announced plans</a> to increase its global restaurant count to 4,000 from 2,500 in the next seven to 10 years. </span></p><p><span style="font-weight: 400;">Meanwhile, Chick-fil-A is opening high-profile new locations in cities such as New York, as the chain attempts to expand into urban markets outside the south. Biscuits are also heavily featured on Chick-fil-A's menu, with the chicken biscuit as a breakfast favorite.</span></p><p><span style="font-weight: 400;"><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="https://www.facebook.com/ChickfilA/photos/pb.21543405100.-2207520000.1438800240./10153380973225101/?type=3&amp;theater">Facebook/Chick-fil-A</a></span></p></div><p></p></div></div></span></p><p><span style="font-weight: 400;">Why is the Southern culinary icon taking over the rest of the US now? </span><span style="font-weight: 400;">One major reason is the rise of breakfast. </span></p><p><span style="font-weight: 400;">In an ICR Conference presentation in January, Bojangles cited data that predicts the breakfast category will grow from a $50 billion business to $60 billion by 2019. McDonald's success with all-day breakfast has proven that breakfast can be a major sales driver - even though the chain only serves biscuits around the clock in Southern states.</span></p><p><span style="font-weight: 400;">Also important is the biscuits image as an "authentic" Southern food. The item signals a dedication to tradition that customers are craving in 2016. Bojangles and Chick-fil-A promise that the biscuits are baked fresh at each restaurant, while Popeyes cites the biscuits as a sign of the chain's Louisiana heritage.</span></p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="https://www.flickr.com/photos/jeffreyww/6340812760/in/photolist-aEjjHW-a217ds-daWkNZ-bsCKp7-pECE3o-bFoA2X-9fkCei-4Srpbx-iiHFix-9YLj7h-q6WVdA-9JWwGU-asSru1-71wuzv-71wufF-8PbAMd-8Wk1kr-ekLJFU-dGV6wm-4ZiQkH-99J58R-5J7vtf-7AvXpS-qoNAPf-o3T6FD-9MPAEH-8wfvfh-aEjqYy-3k43Kq-9kcAEJ-eNACYK-daWnnS-fMrjSx-9eqPtA-91y4nN-5J3dLZ-7Njef8-dUaWzy-oZq5Qf-8n7gW7-ikHXxB-6xUCeW-5LWzZK-akntTs-qYs3Hf-qmeVcC-atptQC-9vQVSe-UM5SK-bpM3Ms">jeffreyw/Flickr</a></span></p></div><p></p></div></div></p><p><span style="font-weight: 400;">"I think of us as the exporter of Louisiana food, both in the United States and around the world," Popeyes CEO Cheryl Bachelder told Business Insider, "because if you haven't tasted these incredible flavors, you just haven't lived yet." </span></p><p><span style="font-weight: 400;">As Americans across the country crave breakfast, quality food, and authenticity, it is finally time for the biscuit to become a culinary staple above the Mason-Dixon line.</span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/taco-bell-fast-food-quesalupa-review-2016-2">We tried Taco Bell's new Quesalupa</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="ZmNXhyMDE6QyteUh5iP0YiIXgwflSNKX" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

This previously underrated regional menu item is taking over America

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span><a href="http://www.flickr.com/photos/babeinthecitykl/3679803617/sizes/o/in/photostream/">By babeinthecitykl on Flickr</a></span></p></div><p></p></div></div>Burger King owner Restaurant Brands International is buying Popeyes Louisiana Kitchen for $79 per share, or $1.8 billion.</p><p>Restaurant Brands International is majority owned by the Brazilian private equity firm 3G Capital, led by the billionaire Jorge Lemann.</p><p><em>More to come...</em></p><p>Here's the full release:</p><p style="padding-left: 30px;">OAKVILLE, ON and ATLANTA, GA, Feb. 21, 2017 /PRNewswire/ - Restaurant Brands International Inc.  ("RBI") (NYSE/TSX: QSR, TSX: QSP) and Popeyes Louisiana Kitchen, Inc. ("Popeyes") (NASDAQ: PLKI) announced today that the companies have reached an agreement for RBI to acquire Popeyes for $79.00 per share in cash, or $1.8 billion.</p><p style="padding-left: 30px;">The acquisition of Popeyes will add a successful, highly-regarded brand with strong customer loyalty to RBI, one of the largest global quick service restaurant companies with two of the world's most iconic QSR brands - BURGER KING® and TIM HORTONS®.</p><p style="padding-left: 30px;">Founded in New Orleans in 1972, Popeyes has 45 years of history and culinary tradition and is the franchisor and operator of Popeyes® restaurants. Today Popeyes is one of the world's largest quick service restaurant chicken concepts with over 2,600 restaurants in the U.S. and 25 other countries around the world and its global footprint will complement RBI's existing portfolio of over 20,000 restaurants in more than 100 countries and U.S. territories.</p><p style="padding-left: 30px;">Following the closing of the transaction, Popeyes will continue to be managed independently in the U.S., while benefitting from the global scale and resources of RBI. Building on the momentum of recent years, RBI plans to continue developing the brand at an increasing pace in the U.S. and international markets in the years to come.</p><p style="padding-left: 30px;">Daniel Schwartz, Chief Executive Officer of RBI, said, "Popeyes is a powerful brand with a rich Louisiana heritage that resonates with guests around the world. With this transaction, RBI is adding a brand that has a distinctive position within a compelling segment and strong U.S. and international prospects for growth. As Popeyes becomes part of the RBI family we believe we can deliver growth and opportunities for all of our stakeholders including our valued employees and franchisees. We look forward to taking an already very strong brand and accelerating its pace of growth and opening new restaurants in the U.S. and around the world."</p><p style="padding-left: 30px;">Cheryl Bachelder, Chief Executive Officer of Popeyes, said, "I am proud of the superior results the Popeyes team has delivered in recent years; they have served all stakeholders well. As Popeyes enters its 45<sup>th</sup> year, its success reflects the amazing brand entrusted to us by founder Al Copeland, Sr. and the unique high trust partnership that we enjoy with our franchise owners. RBI has observed our success and seen the opportunity for exceptional future unit growth in the U.S. and around the world. The result is a transaction that delivers immediate and certain value to the Popeyes shareholders."</p><p style="padding-left: 30px;"><strong>S</strong><strong>tructure and Terms</strong></p><p style="padding-left: 30px;">Under the terms of the transaction, Popeyes shareholders will receive $79.00 in cash per share at closing. This represents a premium of 27% based on Popeyes' 30-trading day Volume Weighted Average Price as of February 10, the last trading day before media speculation on the potential sale of Popeyes.    </p><p style="padding-left: 30px;">RBI will finance the transaction with cash on hand and a financing commitment from J.P. Morgan and Wells Fargo.</p><p style="padding-left: 30px;">The transaction is subject to customary closing conditions, including receipt of certain regulatory approvals and receipt of a majority of Popeyes shares on a fully diluted basis in a tender offer to Popeyes' shareholders. Following the successful completion of the tender offer, RBI will acquire all remaining shares not tendered in the tender offer through a second-step merger at the same price. The transaction is expected to close by early April 2017. </p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/paypal-ceo-daniel-schulman-venmo-success-2017-1">The reason millennials became obsessed with payment app Venmo has nothing to do with money</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="FteW5hOTE6B1eBIjzxPEz2FI5n0vTbLn" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

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