What Makes McDonald's New Restaurants Such A Big Deal
McDonald's franchises are well known worldwide, but when it comes to them opening restaurants, many of their moves may be a little more surprising. For instance, did you know McDonald's owned Boston Market from 2000 to 2007 (via Biz Journals) and held 90% stake in Chipotle from 2005 until 2006 (via Wide Open Eats)? In fact, familiar names under McDonald's umbrella have included Krispy Kreme, which McDonald's took over for a short period, unsuccessfully, and even the fancy, British franchise Pret a Manger, of which it once owned a 33% stake.
But now they are setting their sites on their affairs with outside franchises, instead looking to open more McDonald's stores. The move is surprising in many ways, especially considering that as of December 2020, franchisees were at their breaking point and threatening massive protests amid a battle with corporate over finances. And in terms of stores, their numbers had been shrinking, with a 2020 report revealing plans for the company to shut the doors of 200 locations.
More McDonald's, please!
In the past decade, McDonald's has been narrowing their footprint, not only in terms of outside influence on other franchises, but in closing many of their McDonald's locations. But this year their CFO, Kevin Ozan, announced plans to open new locations in U.S., a move that hasn't been made since back in 2014 (via MSN). As the outlet revealed, more than 500 new spots will be opening, both in the U.S. and around the globe, after the closure of 239 locations in 2021.
Outside of these new openings, the franchise is finding other ways to combat the devastation brought upon them and other fast food companies in the wake of the COVID-19 pandemic, which still presents a problem. According to MSN, patrons of McDonald's can expect to see a 6% price increase from last year as the company attempts to meet the current market while also addressing worker shortage issues.