In 2017, Yum! Brands marked the first year of our multi-year transformation journey that began with the spinoff of our China business in October 2016 and continues as we execute our growth strategy of becoming a com-pany that is more focused, franchised and efficient. As of the end of 2017, 97 percent of our restaurants were franchise owned and at least 98 percent will be franchised by the end of 2018.
To unlock our potential, we have developed a strategic Recipe for Growth. This recipe begins with a set of shared values. Our values challenge and inspire us to elevate our brands, culture, performance and impact on customers and the communities that we serve. These values are:
The next component of our Recipe for Growth is a set of four key growth drivers that serve as the foundation upon which our sustainable, long-term results are being built.
These drivers will allow us to keep our promises to serve delicious, make our food accessible to customers, give employees a place to grow and make a difference, offer profitable partnership opportunities for franchisees and deliver strong returns and long-term value.
Innovate and elevate iconic restaurant brands people trust and champion
Drive market and franchise unit expansion with strong economics and value
Recruit and equip the best restaurant operators in the world to deliver great customer experiences
Leverage culture and people capability to fuel brand performance and franchise success