Public stock market offerings for major franchise brands began decades ago, with pioneering restaurant chains entering public markets as early as the late 1960s and 1970s. For instance, McDonald's completed its initial public offering (IPO) in 1965, allowing public retail and institutional investors to buy equity shares in its corporate operations. Over the subsequent decades, numerous other hospitality, fitness, and quick-service restaurant franchisors followed suit, transitioning from private enterprises into publicly traded corporate equities listed on major global stock exchanges.