Sunil Dharod Net Worth – $100 million
What is Sunil Dharod’s net worth?
Introduction
Sunil Dharod is an Indian American restauranteur, real estate investor, and philanthropist.
He is commonly referred to as the rags-to-riches businessman who came from extreme poverty in India to live the American dream.
The Origin Story
Sunil Dharod was born in India and was raised alongside his brother, Harshad Dharod.
The two boys lost their father at a young age, leaving their widow mother to raise them independently.
Due to the loss of family income, the boys were left responsible for helping make money for the household.
As such, they sold fresh milk to the local residents to earn money and would bring it home to their mother.
As a combined income, the brothers made roughly $4.00 monthly, delivering milk to 30 different families.
In addition, they took any odd job they could just to put food on the table and pay the rent on their home.
Moving to the USA
By the time the brothers were teenagers, their mother had decided to move them to the United States in search of more opportunities and a promising future.
The process of moving was relatively simple because they had an uncle who was already living in America, so they were sponsored as landed immigrants.
When they landed on American soil, they wasted no time and began working day in and out without any break.
Dharod knew that as a way to build a better future for himself and his family, he would need to enroll in post-secondary education.
A few short years after settling in the United States, he enrolled in trade school and pursued his car mechanics license.
Shortly after graduating, he landed a job as a mechanic and began earning an annual salary of $100,000. By this account, he had already reached the American dream.
His brother was working full-time at a local Jack In The Box, and despite the little amount of money he was making, they saved as much as they could together so they could for future opportunities.
Dharod always wanted to make something more out of his life and often contemplated becoming a doctor.
Unfortunately, however, time would not grant him the luxury of pursuing further education since he was working full-time as a mechanic and part-time in a restaurant.
The Dharod brothers decided the next best option to build exceptional success would be to purchase restaurant chains, and they did just that. This decision would be the start of their new life.
Between 1979-1984, the brothers saved enough money to apply for a loan to purchase a “Jack In The Box” fast food restaurant located in Los Angels.
The process wasn’t smooth, however. They had saved $100,000 and the cost to acquire the chain was $300,000.
They needed to secure a loan with a decent interest rate to get the funding, which was challenging to come across, considering they were new immigrants and didn’t have any capital backing.
They submitted over 150 applications until, finally, the Bank of America approved them for the $200,000.
In the first year of purchasing a Jack In The Box restaurant, they increased the sales revenue from $600,000 to $1 million annually.
Within the next 4-5 years, they acquired nearly 19 more locations, making them the youngest and fastest-growing franchise owners in America. Still, this was only the beginning of his business career, and he was eager to get a new venture started.
This time, a business management company.
In 1999, they sold all 19 restaurants back to the corporate franchise to pursue something different.
Once the sales were finalized, he purchased Sonic Drive-In, Carl’s Jr., and Applebee’s restaurants.
SSCP Management
In 2011, he founded SSCP Management which would overlook his many business ventures.
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Sunil Dharod – Net Worth
So, how much is Sunil Dharod worth?
Sunil earned most of his wealth from the many businesses he and his brother manage.
The family-owned management business currently oversees various shopping centers, 47 Sonic Drive-In’s, and 80 Applebee’s.
In total, Dharod owns over 1000 apartments across the United States.
The Dharod family businesses were always family-centric in nature, and he knew he wanted his children to be a part of it all.
As such, Chris Dharod, the son of Sunil, has been appointed the President of SSCP Management and oversees all Applebee’s Restaurants. In addition, Puja Dharod, Sunil’s second child, was appointed as Director of SSCP, and she overlooks various other restaurant chains.
In January 2022, SSCP publicly announced they would be acquiring more Applebee restaurants across the state of Virginia. “Our business is vibrant and we are continuing to outperform established peers,” said SSCP President Chris Dharod.
SSCP regularly makes it onto the Top-50 member of the Franchise Times Restaurant list, an American list that compiles the most successful of America’s largest restaurant chains.
The Dharod family is known for their philanthropic efforts, and as such, the SSCP is regularly involved in community involvement, supporting local schools and chosen non-profit organizations. They have countless mutually-beneficial partnerships with local organizations for charity initiatives.
Since Dharod has expanded into the real estate market, many of his business opportunities have expanded into this space. Aside from this, he intends to maintain his status as one of the top members of franchise restaurant owners across America.
Therefore, Sunil Dharod has an estimated net worth of $100 million.
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