Who Owns Waffle House? History, Ownership & Current Status (2025)

Who Owns Waffle House

Want to know the reason behind Waffle House’s dedication to consistency, quality food, and good reviews in the USA community? You must have full knowledge of who owns Waffle House and what the story is behind this overwhelming brand.

Understanding Waffle House’s strategic approach offers valuable insights into building and scaling a business with effective strategies. If you want to be a restaurateur or are planning to establish a food chain, this article is full of essential knowledge and inspiration.

Origin & Early History

Back in 1955,  two Georgia neighbors, Joe Rogers Sr. and Tom Forkner, founded Waffle House on the Labor Day weekend in Atlanta. Their purpose was to serve meals to their friends and neighbors for 24 hours.

As waffles were their well-paying menu items as compared to others so they chose a name for their restaurant according to it. They wanted to offer quick service at all hours to meet the needs of their community and take advantage of the increasing popularity of automobile culture.

Growth Highlights

Soon, Waffle House’s signature yellow signage quickly became a recognizable symbol to guide travelers along highways and urban streets. Over the decades, it expanded its presence and established over 2,000 locations across 25 states, predominantly in the southeastern United States.

Each restaurant operates 24 hours a day, seven days a week, to offer a consistent menu that has endeared it to generations of diners. 

Also check: Waffle House holiday hours

Here is a quick overview of Waffle House milestones with the years and areas of expansion:

YearMilestoneAreas of Expansion
1955Founded in Avondale Estates, Georgia.Georgia
1960sExpanded to 27 locations in the Southeastern U.S.Georgia, Alabama, Tennessee, North Carolina
1980sGrew to over 500 locations.Florida, South Carolina, Kentucky, Ohio, Virginia
1995Opened the 1,000th location.Mississippi, Louisiana, Arkansas, Missouri, Indiana
2007The original restaurant was restored as a museum.Expansion continued in existing markets; no new states added
2024Operated over 2,000 locations across 25 states.Texas, Arizona, Colorado, Maryland, Pennsylvania
2025Celebrated its 70th anniversary with a new menu item and museum open house.Continued expansion in existing markets; no new states added

Ownership Details

People often ask who owns Waffle House now? The ownership of this American restaurant chain is still within the families of its co-founders.  Joe Rogers Sr’s son Joe Rogers Jr is its chairman.

The families of both Rogers and Forker continue to hold control over the company to maintain its original values as well as to uphold the vision of its founders.

This food chain is still shining brightly and expanding due to its strong corporate culture, emphasizing employee ownership and involvement. We can consider it a pro tip to run a brand for a long time and to expand it surprisingly. 

Moreover, it does not offer public investment opportunities. But employees have the chance to own stock in the company to foster a sense of ownership and dedication among its workforce. 

Who owns Waffle House? For more details, read this table:

YearNameRoleNotes
1955–1973Joe Rogers Sr.Co-Founder & CEOCo-founded Waffle House with Tom Forkner; led the company until 1973.
1973–2012Joe Rogers Jr.CEOTook over from his father; served as CEO for nearly four decades.
2012–2022Walter G. EhmerCEOJoined in 1992; became CEO in 2012; led the company until his passing in 2024.
2022–2024Walter G. EhmerChairmanTransitioned to Chairman in 2022; continued leadership until his death in 2024.
2024–PresentJoe Rogers IIICEOSucceeded Walter G. Ehmer as CEO following his passing.

How did Private Ownership Impact Waffle House Identity?

Waffle House is still under the control of WH Capital, L.L.C., and 100% private, which means 

  • No one can buy stock in it
  • No one can open it in their desired location
  • Every branch of Waffle House is licensed under strict control
  • Every menu in every branch has the same flavor and nutritional value
  • The training process is standardized for every employee.
  • It has the flexibility to change its menu anytime and to introduce new menus for a limited time. Like in its latest 70th anniversary, it launches birthday cake waffles for a limited time just for celebration.

How is Waffle House Culture Rooted in Ownership?

As Waffle House is owned by a loyal company that always prefers the happiness of its customers to its profit. Joe Rogers Sr, who owns Waffle House, said that. 

“When Joe Rogers Sr. said, “We’re not in the food business. We’re in the people business.”

Moreover, its following elements show its culture and loyalty to staff as well as customers:

  1. Food is prepared in an open kitchen in front of customers, which builds their trust in the hygienic measures, used during cooking.
  2. It remains open 24/7.
  3. It does not rely on jobs but on career paths, like it hires a servant as a dishwasher or server and then promotes him to the manager level step-by-step based on his work quality.
  4. It offers a menu with prices, affordable for customers.

Frequently Asked Questions

Joe Rogers III is the CEO and majority owner of Waffle House these days.

No, you can’t invest in Waffle House stock as it’s owned privately by a family. However, you can participate in its employee stock purchase plan or invest in an employee.

No, you cannot own an individual Waffle House; they are not open for public franchising. Nearly all locations are company-owned, and Waffle House does not offer franchise opportunities to the general public.

The most reliable and widely accepted estimate for Waffle House’s U.S. revenue falls between $1 and $1.4 billion. However, it’s not the exact figure; it’s just an estimation.