CMG Companies is a group of separate and independent entities with investments in the multi-unit and franchise space primarily in restaurant, hotel, retail, sports, and real estate sectors. In terms of More
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Franchising company, CMG Companies (CMG), has established itself as a key industry leader. With a portfolio that spans various restaurants, retail, hotels and sports teams, the Dallas-based firm has grand plans for further diversification. This involves new opportunities in automotive, wellness and niche retail sectors.
CMG, formerly known as Chalak Mitra Group, was created by six college friends that soon became best friends - the company name ‘Chalak Mitra’ aptly translates as ‘Wise Friends’.
In 2014, the six partners became involved with sports franchise investments. CMG helped the Caribbean Premier League’s Barbados Royals on their way to their second league championship in 2019. They are currently minority partners of the successful Indian Premier League cricket team, Rajasthan Royals as well along with being minority partners with the Dallas Sidekicks, a soccer indoor franchise with Major Arena Soccer League.
The franchising industry grows more profitable each year, and in 2022 alone the output of franchise businesses is forecast to increase by 4.9% to $826.6 billion. CMG has positioned itself as one of the biggest players in this market: they now operate in over thirty states, and have a workforce of over seven thousand.
Their drive was initially fuelled by seeing their parents face numerous challenges, after migrating from India to the US to offer their children more opportunities. Ron Parikh, another of the six Principals, recalls, “We knew that, at the end of the day, we all wanted to make something of ourselves. Our parents made a lot of sacrifices for us, and we knew the best way to repay them was to make the most of what they’d given us. We put together a strong vision for CMG and delivered on it.”
The vision that Ron speaks of revolves around the mantra of “One Team. Big Dreams!” CMG has been built on a foundation of strong friendship and entrepreneurial passion, and the six best friends continue to see their ambitions being fulfilled. With new projects on the horizon, their portfolio expansion shows no sign of slowing down.
Media Contacts
Name: CMG Companies
Email: info@cmg.team
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