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I visited 5 popular fast-food chains with a $10 budget. The differences in value blew me away.

I visited 5 popular fast-food chains with a $10 budget. The differences in value blew me away.

Business Insider6 hours ago
I started out with a visit to Shake Shack, where $10 didn't take me very far.
I've eaten at Shake Shack before, so I knew ahead of time that I wasn't walking into the most budget-friendly restaurant.
However, I was still pretty shocked that $10 only bought me one Chicken Shack sandwich ($9.60).
However, the sandwich was very tasty.
Although I thought it was pricey, the sandwich was really good. It came on a soft potato bun with lettuce and pickles, but I added tomato, onion, and ShackSauce at no additional charge.
The chicken was thick, juicy, and well-seasoned, and overall, it was definitely the largest of the sandwiches I tried. However, I finished my meal still feeling hungry.
Did it taste great? Yes. Was it a great value? Not so much.
Next, I got a chicken sandwich and fries at Chick-fil-A.
Unfortunately, I was underwhelmed by the sandwich from Chick-fil-A.
I've been to Chick-fil-A before, but this was actually my first time trying a sandwich from the chain. To be honest, I wish I had a better first impression.
Overall, it felt plain and underwhelming, especially for the price. The sandwich was admittedly better when I added the complimentary Chick-fil-A sauce — which tastes similar to a mix of honey mustard and barbecue sauce.
For a nearly $10 meal, though, the portion felt small.
My next stop was Burger King.
Burger King is where things really started to look up for me. I ordered the medium Chicken Jr. meal ($6.50), which came with a sandwich, a medium drink, and a medium side.
For my side dish, I chose the "have-sies" option — a mix of onion rings and fries (for the same price as regular fries). I also added pickles and ketchup to the sandwich for no additional charge.
Because I had some money left in my budget, I decided to add a second Chicken Jr. sandwich for $2.20. In total, I spent $8.70.
I definitely got my money's worth at Burger King.
The Chicken Jr. sandwich seemed smaller than the options I'd gotten at the other restaurants, so I'm glad my budget allowed me to get two.
The sandwiches and fries were pretty good, and overall, this was the first meal where I felt like I actually got my money's worth.
I also thought the sesame-seed bun was a nice touch that helped this sandwich stand out from the pack.
Then, I went to McDonald's.
McDonald's delivered a solid amount of food for under $10. I opted for the $5 Chicken Meal Deal, which includes a McChicken sandwich, small fries, four nuggets, and a small drink.
I had enough left in my budget for an extra McChicken sandwich for $2.80. During my visit, I was also charged a total of $0.60 to add pickles to both sandwiches. All together, I spent $8.40.
My meal at McDonald's was just OK.
The patty on the McChicken sandwich didn't have much flavor, and I definitely tasted the bun and mayo more than the actual chicken.
The fries, however, were salty, thin, and delicious. As always, the chicken nuggets were crispy and flavorful.
Overall, I thought this was a decent value meal, but was disappointed that most customizations, aside from ketchup, cost extra.
It wasn't the highest-quality food I've ever had, but I appreciated the variety of items I was able to get for under $10.
Finally, I stopped at Wendy's.
From what I saw, Wendy's seemed like it had the most variety of items available for $10 or less.
I went with the crispy chicken BLT Biggie Bag, which includes a chicken sandwich with bacon and cheese, four nuggets, a medium fry, and a medium drink for $6.80.
I had enough money left over to get another plain chicken sandwich for $2.50, which I customized with onion, pickles, and ketchup for no extra charge.
In total, I spent $9.30 at Wendy's.
I felt like I got a great value at this chain.
Although it was still pretty basic, the chicken BLT sandwich felt like an upgrade compared to what I'd gotten elsewhere. The patty was the thickest of all the ones I'd tried, and I also thought it was the most flavorful.
The nuggets and fries were both solid as well.
I'll definitely return to Wendy's for a great meal at a reasonable price.
If this experience showed me anything, it's that $10 isn't what it used to be. Shake Shack may have delivered the best-tasting chicken, but in my opinion, value matters more than ever these days.
Wendy's truly made me feel like I was getting my money's worth. So, if you're out to eat on a budget, I highly recommend taking a trip to Wendy's.
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From sweet treats to protein boosts, chains are banking on beverages to drive sales
From sweet treats to protein boosts, chains are banking on beverages to drive sales

CNBC

time2 hours ago

  • CNBC

From sweet treats to protein boosts, chains are banking on beverages to drive sales

If it feels like there are a lot of new drinks on restaurant menus, it's because there are. Driven by younger consumers who crave customized, cold beverages, chains from Dunkin' to Dutch Bros, Starbucks and McDonald's are answering the call. The number of beverages offered by the top 500 chains has increased by more than 9% in the last year, according to Technomic's 2025 Away-From-Home Beverage Navigator Report. Companies have leaned even more into cold drinks. Offerings like specialty coffees and energy drinks have seen the most growth on menus over the past two years, as hot coffee and tea beverages on menus decline, the market researcher reported in July. What's more, consumers are increasingly heading to a chain simply to get an iced coffee or soda. Last year, the primary driver for beverage sales was "getting a pick-me-up," as 22% said that was their most common reason for going, up from 20% in 2023, the data found. Meanwhile, 20% said they bought a beverage to "wash down food." The two occasions for a purchase switched places from the previous year. "This shift suggests that consumers may be moving toward more beverage-specific occasions, where beverages are the main driver of the foodservice purchase rather than an add-on to go alongside food. This aligns with the influx of beverage-forward concepts in recent years," the report said. Higher drink sales are key for major players as they seek to reverse slumps in a tough consumer environment. McDonald's U.S. restaurants saw same-store sales growth of 2.5% in its second fiscal quarter, reversing two straight quarters of domestic declines as it leaned into buzzy partnerships and value offerings. But executives cautioned low-income consumers remain challenged. While Starbucks also saw better than expected U.S. sales, they still fell 2% from the prior-year period. Trying to capitalize on the desire for buzzy new drinks will bring its own challenges. Technomic forecasts beverage volume will grow 1% through 2029, but the group said it will likely revise that outlook lower. Customers are also more price sensitive, with 61% of consumers who said they noticed price hikes saying they order beverages less often. The success of many new beverage lines will hinge on Gen Z consumers, who have flocked to customized and sugary drinks. Dunkin' saw its colorful and sweet Refreshers platform hit new record highs in the most recent quarter, with unit sales up more than 30% year-on-year. It will release its fall menu later this week and lean further into what Gen Z consumers are seeking. The rollout will feature an expansion of pop star Sabrina Carpenter's Daydream Refresher lineup into Mango and Mixed Berry, along with a Cereal N' Milk Latte, featuring a blend of espresso and real cereal milk that delivers a "nostalgic marshmallow cereal flavor." The curation of drinks is key for customers — and Gen Z consumers in particular, Dunkin' Chief Marketing Officer Jill Nelson told CNBC. It has to feel unique and special in this environment. "On the product side, it's overwhelmingly about cold beverages, customization and bold flavor," Nelson said. "And then on the promotion side ... when we think about Gen Z, this is a generation that grew up on sneaker drops and stories that disappear in 24 hours. So it's all about how do you create new news and interesting flavor combinations that you can't really recreate easily at home and feel like you're in the know when you go to the drive through and order them," she said, adding that the company prioritizes speed and accuracy as customers ask for more customization. The competition will heat up next month as McDonald's enters the beverage category in a more meaningful way. On Sept. 2, McDonald's will launch an expanded market test in 500 restaurants across Wisconsin and Colorado of new drinks that include a "Creamy Vanilla Cold Brew" and "Toasted Vanilla Frappe." In addition, the fast food giant will roll out "dirty sodas" and Strawberry Watermelon Refreshers, aimed at Gen Z consumers. McDonald's created the lineup with learnings from its now-shuttered CosMc's concept, which leaned heavily into customized drinks. "We're seeing real momentum in beverages, with more people – especially our Gen Z fans – turning to cold, flavorful drinks as a go-to treat," said McDonald's USA Chief Customer Experience and Marketing Officer Alyssa Buetikofer in a release. On McDonald's most recent earnings call, CEO Chris Kempczinski said beverages present a "big opportunity" for the brand. "It's growing and it's more profitable than food. So, there's a lot of things to like, which is why us as well as, I think, a few of our competitors are also excited about this," Kempczinski told analysts. He added that while there are value offerings in the beverage space, you can get a lot of "full margin products" that franchisees would not have to discount. The new beverage options go beyond the sweet and bold. Chains also aim to win consumers by tapping into health trends. As Starbucks continues its "Back to Starbucks" turnaround plans under CEO Brian Niccol, it is making more changes to the menu, including a late fourth-quarter launch of protein cold foam. On the company's recent earnings call with analysts, Niccol said the item "taps into what has become one of our most popular modifiers, cold foam, which grew 23% year over year." "Protein Cold Foam with no added sugar is an easy way to add 15 grams of protein to virtually any cold beverage. And customers can also add the flavor of their choice," he said. The coffee giant said it's seeing increases in satisfaction among younger consumers. Niccol told analysts customer value perceptions were near two-year highs in its most recent quarter, driven by gains among Gen Z and millennials, who make up over half of its customer base. It's betting that innovation, coupled with better customer service under its new "Green Apron Service" strategy, will help to boost business. Coffee chain Dutch Bros has leaned into some of those beverage trends to drive strong growth. The chain has been a standout stock performer — up over 22% year-to-date — and saw its same-store sales increase more than 6% in the most recent quarter. CEO Christine Barone said protein milk that launched in 2024 has boosted business. But more broadly, unique and surprising toppings and offerings are a way to engage in a tough competitive landscape, she added. "I think the key with innovation is to really understand when something might be ready to pop, or something might be of high interest, and then be able to move really fast to execute on it well," Barone told CNBC.

The M&A Market Is Back: Why Now Is The Right Time For Deals
The M&A Market Is Back: Why Now Is The Right Time For Deals

Forbes

time5 hours ago

  • Forbes

The M&A Market Is Back: Why Now Is The Right Time For Deals

At the end of 2024, as interest rates and inflation were dropping, private equity dry powder was piling up and a new president who many thought would be business-friendly was preparing to return to Washington, businesses, banks and analysts thought this would be a huge year for M&A transactions. We all know what happened instead. President Donald Trump's second term has been full of new ideas on the economy: Tariffs on nearly every country with percentages and effective dates that for months seemed to change by the day, canceled incentives and federal grants from the previous administration, and a domestic economy that has often frozen in place because nobody is sure what to expect next. But M&A hasn't stopped altogether. A mid-year trend report from PwC Global found that while the number of M&A deals in the first half of 2025 was down 9% year-over-year, deal values were up 15%. And while three in 10 U.S. companies had paused or revisited pending deals this spring, PwC found that 51% were still pursuing deals. This month, many of Trump's new tariffs have solidified and are actually being collected. The recently passed so-called 'Big Beautiful Bill' also puts in place financial policy for the next several years. No matter how good or bad that is for companies, it gives them something that's been elusive so far this year: A baseline to work from in making financial projections. And while finance professionals and analysts say that companies are still approaching transactions with great care, the M&A doors are reopening. Today's Forbes CFO newsletter focuses on today's M&A market: What the landscape looks like, who should be making deals, and what companies approaching the buy and sell markets should do. I spoke with two M&A experts and advisers—Bill Haemmerle, partner in the transaction advisory service practice at Wiss & Company; and Scott Mozarsky, co-CEO and managing director of M&A advisory firm JEGI LEONIS—about it, and their comments are throughout this newsletter. This is the published version of Forbes' CFO newsletter, which offers the latest news for chief finance officers and other leaders focused on the budget. Sign up here to get it delivered to your inbox every Tuesday. TIME FOR ACTION Since the beginning of the year, many companies that had been interested in deals just seemed to put things on hold, according to Haemmerle. He currently works with lower middle market companies, and many of the potential deals involving companies that were likely to be touched by tariffs—especially those dealing with manufacturing, importing and transportation—were paused. Now that there's some certainty out there, Haemmerle said, the larger deal market is restarting. He said that kind of activity takes a few months to get to the companies he works with, but it's coming. Bill Haemmerle, partner in the transaction advisory services practice at Wiss & Company. Wiss & Company 'I always view that as the canary in the coal mine—when folks are calling us about financial due diligence, quality of earnings—that things are starting to pick up again,' he said. Wiss has recently been working with companies on deals across a spectrum of industries. These include services businesses in areas that are less likely to be impacted by tariffs and had seen M&A activity in the beginning of the year—HVAC, engineering and healthcare—as well as others that are more affected, including manufacturing and transport. Mozarsky, who works a lot with software companies, especially those with vertical functions in areas like legal compliance, payments and supply chain, said that concerns about the full impact of tariffs—including the end impact on consumers, who may ultimately spend less as prices get more expensive—served to slow down the M&A process in the first half of the year. But now, he said, things are more active. Much of that activity is among groups that were ready to go in January, Mozarsky said. Founders who were hoping to sell off their startups to larger companies are finalizing transactions, accepting the larger risk in general, and taking a good result instead of the great result they may have been holding out for. Larger companies hoping to divest portions of their business to become more focused are going forward with those transactions for similar reasons. Private equity has also been making moves. Firms generally hold on to companies for a short span of years, but Mozarsky said the weak M&A market in the recent past may have extended those timelines a bit too much. Even though the larger economic forecast has been all over the map, he pointed out that company valuations and the stock market seem to be resilient enough for them to move forward. SEPARATING THE NOISE FROM THE REALITY Mozarsky said he's seeing a lot more caution and care go into deals from all sides. While most business valuations haven't seen huge setbacks as of now, some of them aren't as strong as they likely would have been a year ago, when tariffs were not a concern. So acquirers are being creative. JEGI LEONIS co-CEO and managing director Scott Mozarsky. JEGI LEONIS 'We're seeing structures around the deals—basically earnouts and other types of structures that effectively are saying to sellers, 'Look, you can get a great deal, but you're going to have to prove it,'' he said. But the fear of choppy markets because of tariffs hasn't come to bear just yet. In the short time since the August 9 effective date of most of the tariffs, markets have moved the most on positive earnings reports, investments and tech announcements. Investors, he said, have been working to look past the noise of ever-changing tariff announcements and zoom in on what truly matters: Business fundamentals. Does this deal make sense for the business? Will it bring value? Is the price fair? Are there any uncertainties that new tariff policies could awaken, and are you prepared to deal with them? Haemmerle said that if the fundamentals are right, now is a good time for M&A transactions. 'If you've done your strategic plan, you've identified an opportunity in the market, and it fits well within what you're trying to accomplish, I don't think there's really a bad time to do a transaction, and I think you'd be missing out on the opportunity, at the cost of doing a deal,' he said. READY TO SELL For a company looking to sell itself, now is the time to get your financial house in order. Companies that can show clear figures on profitability—or the path to get there—gross margins, customer retention and meeting KPIs will have an advantage. Mozarsky said that he's helped customers make great deals even during the last few years, which were sluggish in terms of dealmaking. 'Generally, good businesses, the buy-side investors will be willing to pay a high price for them,' he said. 'Generally, the debt markets will be supportive of deals involving those businesses, which allows buyers to pay a higher price for them. And generally, sellers will get very good ROI on their investments because they've done a good job working with the management team, or the management team has done a good job of building a good business.' To keep a high valuation, Mozarsky advised companies to maintain their top level of performance: Move toward profitability, invest in the future, and continually develop new technologies and ideas, such as generative AI. Differentiation is also key: What specific value would a buyer get from purchasing your specific company? Haemmerle said companies that are more likely to be impacted by tariffs or new economic policies should concentrate on getting their operations organized and in good shape—especially if the situation now seems too chaotic for a transaction. When things settle down, he said, then you'll be ready. FOCUS ON THE LONG TERM There's no question that many businesses have had a bumpy ride this year, and the coming quarters may be even rougher. But both Mozarsky and Haemmerle are anticipating an active end to 2025, as far as deals are concerned. Mozarsky said JEGI LEONIS has been busy this summer with the meetings, research and pitches that precede M&A deals—and there has already been a lot of activity in some of the software deals he works on, which he said is seen as tariff (and potentially recession) resilient. Mozarsky said that while tariffs are still a bit of an X factor for business, using M&A now to lock in business changes is a smart move. If a company is looking to add on to its portfolio or functions, acquiring the other business sooner rather than later allows for more definitive forecasting—and more stability if the markets vacillate on White House policy pronouncements. Haemmerele also expects more activity as the year goes on. He also hopes that CFOs who have been waffling on deals will find clarity and make the deals if they work, or renegotiate or walk away and look elsewhere if they don't. While more risk in a deal decreases its value, Haemmerle said the big picture is important. 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I visited 5 popular fast-food chains with a $10 budget. The differences in value blew me away.
I visited 5 popular fast-food chains with a $10 budget. The differences in value blew me away.

Business Insider

time6 hours ago

  • Business Insider

I visited 5 popular fast-food chains with a $10 budget. The differences in value blew me away.

I started out with a visit to Shake Shack, where $10 didn't take me very far. I've eaten at Shake Shack before, so I knew ahead of time that I wasn't walking into the most budget-friendly restaurant. However, I was still pretty shocked that $10 only bought me one Chicken Shack sandwich ($9.60). However, the sandwich was very tasty. Although I thought it was pricey, the sandwich was really good. It came on a soft potato bun with lettuce and pickles, but I added tomato, onion, and ShackSauce at no additional charge. The chicken was thick, juicy, and well-seasoned, and overall, it was definitely the largest of the sandwiches I tried. However, I finished my meal still feeling hungry. Did it taste great? Yes. Was it a great value? Not so much. Next, I got a chicken sandwich and fries at Chick-fil-A. Unfortunately, I was underwhelmed by the sandwich from Chick-fil-A. I've been to Chick-fil-A before, but this was actually my first time trying a sandwich from the chain. To be honest, I wish I had a better first impression. Overall, it felt plain and underwhelming, especially for the price. The sandwich was admittedly better when I added the complimentary Chick-fil-A sauce — which tastes similar to a mix of honey mustard and barbecue sauce. For a nearly $10 meal, though, the portion felt small. My next stop was Burger King. Burger King is where things really started to look up for me. I ordered the medium Chicken Jr. meal ($6.50), which came with a sandwich, a medium drink, and a medium side. For my side dish, I chose the "have-sies" option — a mix of onion rings and fries (for the same price as regular fries). I also added pickles and ketchup to the sandwich for no additional charge. Because I had some money left in my budget, I decided to add a second Chicken Jr. sandwich for $2.20. In total, I spent $8.70. I definitely got my money's worth at Burger King. The Chicken Jr. sandwich seemed smaller than the options I'd gotten at the other restaurants, so I'm glad my budget allowed me to get two. The sandwiches and fries were pretty good, and overall, this was the first meal where I felt like I actually got my money's worth. I also thought the sesame-seed bun was a nice touch that helped this sandwich stand out from the pack. Then, I went to McDonald's. McDonald's delivered a solid amount of food for under $10. I opted for the $5 Chicken Meal Deal, which includes a McChicken sandwich, small fries, four nuggets, and a small drink. I had enough left in my budget for an extra McChicken sandwich for $2.80. During my visit, I was also charged a total of $0.60 to add pickles to both sandwiches. All together, I spent $8.40. My meal at McDonald's was just OK. The patty on the McChicken sandwich didn't have much flavor, and I definitely tasted the bun and mayo more than the actual chicken. The fries, however, were salty, thin, and delicious. As always, the chicken nuggets were crispy and flavorful. Overall, I thought this was a decent value meal, but was disappointed that most customizations, aside from ketchup, cost extra. It wasn't the highest-quality food I've ever had, but I appreciated the variety of items I was able to get for under $10. Finally, I stopped at Wendy's. From what I saw, Wendy's seemed like it had the most variety of items available for $10 or less. I went with the crispy chicken BLT Biggie Bag, which includes a chicken sandwich with bacon and cheese, four nuggets, a medium fry, and a medium drink for $6.80. I had enough money left over to get another plain chicken sandwich for $2.50, which I customized with onion, pickles, and ketchup for no extra charge. In total, I spent $9.30 at Wendy's. I felt like I got a great value at this chain. Although it was still pretty basic, the chicken BLT sandwich felt like an upgrade compared to what I'd gotten elsewhere. The patty was the thickest of all the ones I'd tried, and I also thought it was the most flavorful. The nuggets and fries were both solid as well. I'll definitely return to Wendy's for a great meal at a reasonable price. If this experience showed me anything, it's that $10 isn't what it used to be. Shake Shack may have delivered the best-tasting chicken, but in my opinion, value matters more than ever these days. Wendy's truly made me feel like I was getting my money's worth. So, if you're out to eat on a budget, I highly recommend taking a trip to Wendy's.

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