The American fast food restaurant chain Panda Express specializes in serving American Chinese cuisine and is an extremely popular name.
With over 2300+ locations, Panda Express is also the largest Asian-segment restaurant chain in the U.S., generating billions in sales. However, if you are looking to own the franchise, then it is also crucial to know the Panda Express franchise cost.
In the article “Who Owns Panda Express,” we learn about the fascinating history and ownership structure of this popular fast-casual restaurant chain.
About Panda Express
Panda Express is a subsidiary of Panda Restaurant Group, Inc., and it was founded in the year 1973 by Andrew Cherng and his father Ming-Tsai Cherng.
The Cherngs came to the U.S. in the 1960s, and after Andrew finished his studies, he, along with his father, opened their first restaurant in Pasadena, California, by the name Panda Inn. Subsequently, in 1982, Andrew’s wife, Peggy Cherng, joined her husband.
Then in 1983, the Glendale Galleria invited them to open a fast-food outlet in the mall. Ever since then, Panda Express has expanded to more than 2200+ locations.
Andrew Cherng and his wife, Peggy Cherng, are the founders and owners of Panda Express.
Who Owns Panda Express?
The current owners of Panda Express are Andrew Cherng and Peggy Cherng; the duo owns and manage all the outlets themselves and does not offer a Panda Express franchise.
The success of Panda Express can also be attributed to the fact that the duo operates all the Panda Express outlets themselves.
And this allows them to maintain consistency without a miss, which might have been a problem if they have franchised Panda Express.
About Andrew and Peggy Cherng
Andrew Cherng
Andrew Cherng is not just the Co-founder of Panda Express but also the Co-Chairman and Co-CEO.
He earned a bachelor’s and master’s degree in Mathematics from Baker University and the University of Missouri, respectively.
He is the visionary behind Panda Express, and his business insight has propelled Panda Express to become a world leader in Asian cuisine today.
Under the leadership of Andrew Cherng, the Panda restaurant group was ranked the #1 Asian quick-service concept by QSR, along with being titled America’s number one employer.
Peggy Cherng
Peggy Cherng is also the Co-founder, Co-Chairman, and Co-CEO of Panda Express and is the driving force behind its success.
She holds a Ph.D. degree in electrical engineering and leveraged her engineering knowledge to develop a system that played a key role in delivering consistent dining experiences along with business growth for Panda Express.
What Is Cherng’s Net Worth?
According to sources, the combined net worth of Andrew and Peggy Cherng, the owners of Panda Express, have amassed a total net worth of $3.3 billion as of 2023 and are one of the richest people in America.
((https://www.pandarg.com/about-us/leadership))
Surprising Facts About Panda Express & its Owners
Here are some surprising facts about Panda Express that we bet you didn’t know:
1. Owners of Panda Express are immigrants
Andrew Cherng was born in Yangzhou, China, and as a child, he lived in Japan and Taiwan.
Peggy, on the other hand, was born in Burma and spent her later years in Hong Kong. They are both immigrants and moved to America in the 1960s.
2. Orange Chicken is Panda Express’ Invention
Panda Express’ signature dish Orange Chicken was created by Chef Andy Kao, and today, it has become one of the major Chinese food staples in America.
3. Andrew & Peggy are College Sweethearts
The founders met at the University of Missouri when they were finishing their master’s degrees. They married in 1975, and it’s been 47 years now, and they are still together.
4. Peggy worked for the U.S. Navy
Peggy worked as a software developer for 3M and McDonnell Douglas aerospace manufacturing and even did coding for the U.S. Navy.
5. Panda Express has a sit-down predecessor
Before starting Panda Express, Andrew opened a sit-down Chinese restaurant with his dad named Panda Inn. Today, there are still five Panda Inn outlets in California.
Wrap Up
In this article, we saw that Panda Express is a leading restaurant chain that makes and is owned by Cherng and Peggy Cherng.
The duo manages and overlooks the operations of all the outlets themselves, which is the reason for the consistent taste, service, and growth of the company.
They are also equally involved in charity and strongly believe in giving back to society.
We hope you found our article on who owns Panda Express helpful.
FAQ
Does Panda Express offer franchising?
No, Panda Express is a corporation and is owned and operated by the owners themselves, and it does not offer franchising.
Is Panda Express only in the U.S.?
No, Panda Express also has outlets in Canada, Guatemala, Saudi Arabia, Japan, El Salvador, South Korea, Mexico, the Philippines, and the United Arab Emirates.
Is Panda Express family owned chain?
Yes, Panda Express is a family-owned and operated chain with more than 2,300 outlets and 47,000 employees.
Amit Gupta is an experienced expert in digital marketing and co-founder of DrFranchises. With more than 11 years of knowledge in franchise digital marketing, SEO, email marketing, and social media marketing, Amit has helped many brands achieve incredible success online. As a passionate entrepreneur and owner of 7 franchises, he continues to study franchise models, looking at costs, revenue, and profitability to guide brands toward profitable growth. When he’s not working on digital marketing, Amit enjoys spending time playing with his beloved dog.