In November 2023, Domino's Pizza (NYSE: DPZ) opened its 20,000th location -- this one in New Delhi, India. It's an incredible milestone for the company.

Back when Domino's only had 14,000 locations, it was already selling around 1.5 million pizzas every single day. It wouldn't be surprising if this global brand now sells over 2 million pizzas per day, pushing it to over 700 million annually. That's a lot of pizza for the world's biggest pizza company.

Except here's the thing: Domino's itself sells very little pizza. As of the end of 2023, 99% of all locations were owned by franchisees -- independent business owners who pay for the right to use Domino's branding and recipes. These franchisees make and sell most of the pizza.

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Source Fool.com