Founded in Wichita Kansas in 1958 by college students Frank and Dan Carney, Pizza Hut’s popularity grew so quickly that it became a cooperation and was franchised just one year after being established. Two years later, Pizza Hut’s international presence was seen with a franchise location opening in Canada. After a tumultuous period of mergers and adjustments, Pizza Hut went public which availed them of a board of overseers who revived its unstable business plan. By 1973, an increase in profits and expansion into unexpected markets led to its 2000th location and Pizza Hut’s decoration as the largest pizza chain in the entire world. During the next five years, more expansion and market positioning with an increase in advertising brought a net worth of $15 billion and a segue into a merger with PepsiCo.
After the buyout, through the rest of the 70’s, 80’s, and 90’s the franchise continued to expand its locations not only in various cities but into school cafeterias and sporting venues. Other areas of growth focused on menu offerings and alternative methods of product delivery including a lunch-time 5-minute personal pan pizza to home-delivery, which soon accounted for 25% of its revenue. However, in 2000 after a mid-90’s downturn in profits led PepsiCo to consolidate its fast-food division, that included brands such as KFC, Taco Bell, and Pizza Hut, under the name Tricon Global Restaurants. After a major acquisition, Tricon became Yum! Brands, Inc., one of the largest fast-food companies in the world with over 42,000 restaurants both company-owned and franchised with a total worth of over $13 billion. Today, Yum! redirects some of its earnings every year to philanthropic areas including educational scholarships.
In honor of the late Andrall E. Pearson, who had collaborated with PepsiCo to protect and reorganize their fast-food division and who served as chief executive and chairperson of Yum, The Andy Pearson Scholarship program, makes available 200 awards of up to $2500 to their US employees and their families. Qualifying, applicants must be high school seniors intending to enroll part or full-time at an accredited two or four-year institution of higher education including graduate school.
There are no stipulations for areas of study; however, traditional student candidates must be under the age of 19 and already enrolled student applicants must be under the age of 25. Candidates must have a minimum GPA of 2.0 and either have been an employee or a dependent of an employee of Yum or it’s other subsidiaries including Long John Silver’s, Taco Bell and KFC, working a minimum of 15 hours a week for at least six months and must continue employment until the scholarship is paid. Candidates should fill out an online application and submit transcripts reflecting a current GPA and other qualifying information. The scholarship deadline is May 15, 2017, and application information is updated on the website yearly. You can find more information online.