In 1969, he purchased a KFC store in Australia for $100,000. Now, his fast food business is valued at more than $3 billion.

Jack Cowin, as a child, earned money by shoveling snow, delivering newspapers, and selling Christmas cards. In his 20s, he shifted his focus to burgers instead of cards. Now, at the age of 82, he is a billionaire due to his fast food empire.

Competitive Foods Australia, which operates Burger King as "Hungry Jack's" in Australia, was founded and is chaired by Cowin. He is also the largest shareholder of Domino's Pizza in Australia and supports a plant-based meat substitute company called v2food.

In 1969, Cowin brought Kentucky Fried Chicken to Australia and later sold off his franchise of 55 KFC stores in 2013 for about $71 million.

Cowin informed CNBC Make It that his business is currently valued at more than $3 billion and generates annual revenue of over $300 million.

An enterprising kid

From a young age, Cowin recognized his desire for independence in life. His father, who worked at Ford Motor Company, often had to travel frequently for work.

When working for a large corporation, the company determines your location and responsibilities.

"As a child, I yearned for the liberty to pursue my own desires. I recognized this desire early on because I observed my father's constant movement from place to place. He was not content to be tied down to the demands of a corporation."

As a child, Cowin spent his time outside of school mowing lawns and delivering newspapers. "I never had to ask for money as a kid," he said. "I was a sales guy from very early, like 8 or 10 years old."

Cowin was earning $8,000 a year selling "trees, shrubs and nursing stock" by the time college started, while his professors were making only $5,000 a year.

In 1964, he earned a bachelor's degree from the University of Western Ontario and later found success as a life insurance salesman, claiming to be highly skilled in his field.

He claimed to have a reputation for being a skilled salesperson.

Striking gold Down Under

In the late 1960s, Cowin was living in Canada with his wife and child when he received a call from two high school friends.

His friends got a job with the American Kentucky Fried Chicken company and were dispatched to Australia to investigate the possibility of expanding into the country.

"Due to my father's work commitment and being the only person in the group who knew where Australia was on a map, they contacted me and invited me to visit. Without hesitation, I boarded a plane and flew to Australia," Cowin stated.

In February 1969, Cowin arrived in Australia and spent three weeks assisting his friends with their research, which eventually confirmed the existence of a demand for fast food in the country.

In Australia, the restaurant industry was dominated by fish and chip shops, Chinese restaurants, and fancy white tablecloth establishments at that point in the game, while fast food chains such as McDonald's, Burger King, KFC, and others were gaining popularity in North America.

"After three weeks, I will pay $1,000 as a deposit on a Kentucky Fried Chicken franchise, and if the American company opens a store, I will have a 10-store franchise," he stated.

His 'biggest break' in life

Six months after the initial agreement, Cowin was offered the chance to own his first KFC franchise in Australia. However, he lacked the necessary funds, so he began seeking investment.

How long would it take for you to throw out a kid who comes into your office seeking to borrow $10,000, which is equivalent to $100,000 or more today, despite having no experience in business and no interest in your money?

"The most significant turning point in my life was when I borrowed $300,000 from 30 Canadians who lent me $10,000 each. Without their help, I would still be working as a snow shoveler in Canada."

In 1969, Cowin relocated his family to Perth, Australia, and established his first KFC franchise. He described the experience as "like drilling oil and hitting oil on your first wildcat well because it was a tremendous success."

"After opening two more businesses, you enter the hamburger and pizza industries, eventually leading to a $3 billion food manufacturing business that generates $300 million annually."

Cowin owns 98% of his company, with the remaining 2% held by some of his original investors and shareholders. He stated that the original $10,000 investment is now worth $40 million at book value. He added that everyone has received their money back, and those who stayed have seen significant returns.

He said that the secret to sales is doing it well, and the people who lent him money supported him as the investment.

"I've never really worked a day in my life because I've enjoyed it, and an expression I have is when you can't tell the difference between work and play, you're in the right place."

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