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Yahoo
27-05-2025
- Business
- Yahoo
Chipotle and Chick-fil-A helped increase new restaurant locations among top brands in 2024
Chick-fil-A and Chipotle were the tip of the spear in augmenting new restaurant locations last year among top brands, per a new report from food service research firm Technomic. Chick-fil-a grew its footprint by 4.9% in 2024 to a total of 3,109 restaurants, while Chipotle Mexican Grill (CMG) expanded 8.1% in the same period to a total of 3,644 locations, according to the firm's 'Top 500 Chain Restaurant Report.' It was the fourth year in a row of U.S. restaurants expanding their number of overall locations. 'Location development buoyed Top 500 performance,' the company said. 'The Top 500 footprint expanded by 1.6% in 2024 to a total of over 236,000 restaurants, marking the fourth consecutive year of robust location development for chain restaurants.' Chipotle CEO Scott Boatwright said in a February earnings call that part of the company's success rested on 'tremendous progress' in expanding its footprint in Europe. The company, though, reported a 'slowdown' in consumer spending during the first quarter of 2025, citing customers foregoing restaurant visits to save money along with adverse weather. Meanwhile, Chick-fil-A had its sales slow in 2024, per Nation's Restaurant News. The fast-food chain is charting a $1 billion international expansion overseas starting with five new locations in the U.K. and one in Singapore this year. Chick-fil-A is also automating as part of a bigger strategy to reduce labor costs and improve company efficiency. It's tapping into other revenue streams as well, like selling lemon oil to the beauty and fragrance industries. The increased competition among chicken-based restaurants is prompting more jockeying to increase market share, especially as consumers get pickier about where and how they spend their cash. Raising Cane's was another chicken-based fast-food establishment that grew enormously last year. In 2024, it expanded by 13.9% and reached 828 destinations, according to the Technomic report. For the latest news, Facebook, Twitter and Instagram. Sign in to access your portfolio
Miami Herald
23-05-2025
- Business
- Miami Herald
McDonald's is extending its late-night hours this summer. Here's what to know
McDonald's is looking to satiate customers' late-night cravings by staying open later this summer, reports say. The fast-food giant said it is extending its late-night hours, offering service until midnight or later at most U.S. locations, USA Today reported, citing a company spokesperson. Non-traditional locations, including malls and airports, are excluded, according to the outlet. Much of the menu will be available during these hours, though offerings will vary based on decisions of individual franchisees, according to Nation's Restaurant News. 'Our fans know there's no better way to end an unforgettable night than by feasting on your favorite McDonald's order,' the company told McClatchy News on May 23 in a statement. 'That's why, as the summer season kicks off, we're excited to offer up more ways for customers to satisfy their late-night cravings with more choices and expanded hours at more restaurants.' To celebrate, McDonald's is giving away 1,000 virtual gift cards for free orders of its new McCrispy Strips on May 24. Fans can enter for a chance to win by posting #DipforMcCrispyStripsGiveaway on their Instagram story and tagging @GoFooji, the restaurant said. McCrispy Strips rolled out on menus this month, marking the first new item to join McDonald's permanent menu in four years, McClatchy News reported. The fast-food giant has served similar offerings in the past, including Chicken Selects and its successor, Buttermilk Crispy Tenders. By expanding its hours, McDonald's is looking to boost sales after a 3.6% drop in the U.S. in the first quarter of 2025, marking 'its worst performance since the pandemic,' GlobalData reported. 'McDonald's has a 70-year legacy of innovation, leadership, and proven agility, all of which give us confidence in our ability to navigate even the toughest of market conditions and gain market share,' Chairman and CEO Chris Kempczinski said at the time. The push also comes as McDonald's plans to hire up to 350,000 new workers and serve more customers at its restaurants this summer, the company said May 12. Additionally, the chain said it will add 900 U.S. locations by 2027. Find your nearest McDonald's here.
Yahoo
21-04-2025
- Business
- Yahoo
Humphrey Yang: How Much Money You'll Make From Running a Chick-fil-A Per Year
Looking to own a franchise and earn some decent money? Chick-fil-A is known for its top-quality fast food and exceptional hospitality, but becoming a franchise owner isn't as easy (or maybe even as lucrative) as one might assume. For You: Read Next: In a TikTok, financial influencer Humphrey Yang broke down what it really takes to open one of these fast-food locations and how much you might make per year from running one. Alternatively, learn how this moving franchise turned into a million-dollar business. According to Yang, Chick-fil-A's franchise fee is surprisingly low. You'll only need $10,000 up front. To compare, McDonald's and KFC charge a franchise fee of $45,000 or 4.5 times more, according to Franchise Direct. Yang explained that Chick-fil-A offers a franchise relationship, which means it builds the store and gives the franchisee the products and training in exchange for a percentage of sales. But how much of a percentage? Check Out: Yang said while other fast-food franchises like KFC take around 5% of sales, Chick-fil-A takes 15% off the top. On top of that, you split the remaining profit 50/50 with the company. Additionally, as an operator, you aren't building equity in the business, according to Franchise Brokers Association. And even though you're running the store, you're doing it under Chick-fil-A's ownership and rules. Another drawback is that the company only allows franchisees to run one restaurant, per Nation's Restaurant News. According to Yang, fewer than 1% of applicants are accepted. He said it's probably easier to get into Stanford than to be accepted as a Chick-fil-A operator. Having experience as a Chick-fil-A team member might improve your chances, however. According to the company's official website, in the past two years, 76% of those selected as owner-operators had prior work experience as a team member. Also, if you are accepted, expect to work long hours. Yang pointed out that operators are expected to be hands-on, being physically present at the store for 60 hours per week. Yang said you'll take home between 5% and 7% of store revenue. He further explained that if you're operating a location that brings in the average Chick-fil-A revenue of $9.3 million, 5% works out to about $465,000 a year. Chick-fil-A's revenue is well above competitors like McDonald's, with the average store bringing in about $3.5 million per year, according to SharpSheets. If you operate a top-performing store and earn 5% of net revenue, you can make upwards of $450,000 a year. However, you'll have to be willing to work 60-hour weeks and be satisfied with the franchise arrangement Chick-fil-A offers, including no opportunity to build equity or own more than one franchise. More From GOBankingRates 5 Types of Vehicles Retirees Should Stay Away From Buying 4 Affordable Car Brands You Won't Regret Buying in 2025 4 Things You Should Do if You Want To Retire Early 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth This article originally appeared on Humphrey Yang: How Much Money You'll Make From Running a Chick-fil-A Per Year
Yahoo
02-04-2025
- Business
- Yahoo
PJ's Coffee parent company CEO to retire
This story was originally published on Restaurant Dive. To receive daily news and insights, subscribe to our free daily Restaurant Dive newsletter. Ballard Brands CEO and president Peter J. Boylan will retire in April, the company said in a press release emailed to Restaurant Dive this week. Boylan will continue on in an advisory capacity. Boylan has been with Ballard Brands, the parent company of PJ's Coffee of New Orleans and Wow American Eats, since 2009 when he joined the board of advisors. In 2010, he assumed the role of chief development officer, ascending to the role of president and CEO in 2016. Ballard Brands has also appointed David Mesa, current executive vice president and chief development officer, as president of the franchise development overseeing the growth of both brands. Under Boylan's leadership, the restaurant brands expanded into 26 states and several international markets, and boasted double-digit unit and revenue growth. It joins other coffee chains like Dutch Bros, Biggby and Caribou Coffee that have significant growth plans. Starbucks, which has had a new CEO since September, also is planning to grow its domestic store count. PJ's Coffee, which has more than 180 locations, has at least 300 locations in development, according to its franchising website. In 2023, PJ's Coffee opened 28 locations in nine states. Last year, the chain aimed to bring 39 new franchisees into the system that would result in over 85 licensed units, according to Nation's Restaurant News. The chain has also opened a number of non-traditional locations, including shops in military bases and government agencies, healthcare facilities and airports, a strategy that has helped increase sales and improve the company's market position. Mesa has been with the company for over eight years and has expertise in franchise development and operational strategy, according to the press release. Prior to Ballard Brands, he served as president of franchise operations at Planet Beach Franchising Corporation, which he helped grow from 60 units to over 350 units. 'David is the right leader to continue driving growth within the franchise division,' Boylan said in a statement. 'His deep understanding of franchising, strategic mindset and dedication to our brands make him the ideal choice to guide the team into the future.' Recommended Reading Rock N Roll Sushi hires experienced franchise exec as CEO Sign in to access your portfolio
Yahoo
02-04-2025
- Business
- Yahoo
Atlanta-based Chick-fil-A still the top bird for drive-thru happiness
The Brief Chick-fil-A ranked No. 1 in overall drive-thru satisfaction for the third year in a row, according to InTouch Insight's 2024 report. Chick-fil-A led in categories like order accuracy, food quality, and staff friendliness. The study analyzed 1,651 drive-thru visits across the U.S., with results also backed by rankings from Chatmeter and the American Customer Satisfaction Index. ATLANTA - Chick-fil-A is once again leading the pack in the fast food drive-thru wars, according to InTouch Insight's annual drive-thru report. The Atlanta-based chain earned the top spot for overall satisfaction, though it didn't dominate every category. The report evaluated several factors, including total order time, service time, order accuracy, food quality, friendliness, and overall customer satisfaction. Here's how the rankings broke down across key categories: Fastest Total Time Taco Bell KFC Arby's Dunkin' Wendy's Fastest Service Time Taco Bell KFC Wendy's Arby's Dunkin' Fastest Total Time by Car Chick-fil-A Raising Cane's McDonald's Wendy's Taco Bell Order Accuracy Chick-fil-A McDonald's Carl's Jr. KFC Arby's Food Quality Chick-fil-A Raising Cane's Arby's McDonald's Taco Bell Friendliness Chick-fil-A Raising Cane's Arby's Carl's Jr. McDonald's Overall Satisfaction with Service Chick-fil-A Raising Cane's McDonald's Arby's Taco Bell Chick-fil-A also held the No. 1 spot for overall satisfaction in 2022 and 2023. The findings are based on 1,651 drive-thru experiences conducted at various times of day and across a range of geographic locations. Chick-fil-A has consistently topped the American Customer Satisfaction Index for nine consecutive years, according to Nation's Restaurant News. Chatmeter's 2024 QSR Reputation Ranking also placed Chick-fil-A at No. 1 for overall reputation, particularly in food and service quality. Additionally, Chick-fil-A held the top spot in USA Today's Readers' Choice Awards for nearly a decade before being overtaken by Del Taco in 2024. It's probably worth noting that Chick-fil-A's first elevated drive-thru opened in August 2024 in Henry County.
