Jamaican Ricky Wade expands McDonald’s empire

Jamaica-born and Florida-based businessman Ricky Wade has expanded his holdings of McDonald’s franchises.

Wade told The Gleaner that his company has acquired an additional five franchises in central and western Florida, bringing his total holdings to 33 McDonald’s stores.

Additionally, his daughter, Devon-Ashley Wade, has also acquired her own McDonald’s franchise in Delray Beach, Florida.

The younger Wade acquired her franchise store on June 15, and one month later, the family business closed on the five new stores.

A McDonald’s franchise costs an average of US$2 million to own.

The elder Wade has expressed delight at his daughter acquiring her own McDonald’s franchise store.

“Growth has been the company’s theme for 2026 and the acquisition of the additional stores is a manifestation of this vision. You cannot wait on growth to show up. You have to pursue it,” he told The Gleaner.

According to Wade, seeing his daughter acquire her own franchise was one of his proudest moments.

He said he sees her store acquisition as following in her parents’ footsteps and a continuation of the family’s legacy.

Pointing out that the company is not giving up on its growth goals, Ricky Wade hinted that the acquisition of additional franchise stores by the family may be in the works before the end of the year.

Ricky Wade is a businessman, philanthropist, community leader and a man dedicated to uplifting downtrodden young people through education and business.

WADE’S JOURNEY

He was born at Nuttall Hospital in St Andrew to his parents, Carlton and Rita Wade. He lived in Mona Heights and later Barbican and attended St Theresa Preparatory School and later Excelsior High School.

Seeking to follow in his father’s footsteps by becoming a pilot, he left Jamaica in 1979 at age 18 to attend flying school in Florida, United States. He would, however, get cold feet and quit flying school following the death of his father in a plane crash over Caymanas Estate.

He went to work for a McDonald’s franchise in Miami, which was to change his life and career path.

Two years after joining the store, the franchise was taken over by corporate McDonald’s and Ricky was transferred to North Carolina, to the company’s headquarters, where he rose through the ranks during his four-year career with the company.

However, his life was to take a dramatic turn in 2001 when he was offered the opportunity to become a McDonald’s franchisee.

While preferring to remain in the US corporate world, he was encouraged by his wife, Lisette, to grasp the opportunity of becoming a franchise owner. So he liquidated his assets, mortgaged his home and purchased seven franchises in Palm Beach County.

While a proud Jamaican who is committed to his homeland, Wade acknowledged that he was offered a McDonald’s franchise in Jamaica when the corporation was closing its locations on the island but passed on the opportunity because the business model and financial returns did not make sense.

“Jamaicans have unique taste and McDonald’s offer standard products from which there are no deviation,” he said.

Wade said he has interests in Jamaica which he did not want to disclose but also said that he would look at investment opportunities on the island, pointing to possible ownership of a boutique hotel, among other areas.

DREAMS OF POLITICS

He disclosed that, growing up in Jamaica, he gave serious thought to entering politics, with the aim of eventually becoming prime minister, but passed on the idea.

“I wanted to help poor people and I thought politics would be one way but I got turned off by the political system in Jamaica,” he said.

He said he supports lower-income youth, seniors and gives back to the church. Education and healthcare, especially for seniors, are his passions in helping people, he said.

“This desire to assist those less fortunate was instilled in me by my mother and I continue to live by these tenets,” he said.

“I give back to causes that benefit Jamaica, including by alma mater Excelsior as well as other charitable outreach in the Diaspora but I also use my position to try and lift up those who are in need,” he said.

“I was raised Jamaican. I am 100 per cent Jamaican. I live and breathe Jamaica, so I have a vested interest in the development of Jamaica,” he said.

He disclosed that when he visits Jamaica he eats and breathes Jamaica.

Apart from his business interests, Wade sits on a number of boards and holds a number of voluntary positions, as this, he said, provides him with the opportunity to assist people at the bottom of the economic ladder who are in need of help.

editorial@gleanerjm.com