Burger King, RBI, and a keynote unlike any other

A good while back, when I began chatting with the Restaurant Brands International team about a possible keynote, I had no clue what I was getting into. The idea of having the presidents of four of America’s most-iconic quick-service chains (Burger King, Tim Hortons, Firehouse Subs, and Popeyes) on stage, together, naturally, wasn’t a hard sell. I’ve never seen anything quite like it through the endless restaurant conference loop. My mind went to deciding how I’d moderate something of that scope—hint, it’s going to be a wild hour.

But what I had zero inkling about at the time was what kind of year RBI was about to lay out there. It started with an announcement in February the company was going to hit a “minimum” of 40,000 locations, $60 billion in systemwide sales, and $3.2 billion in adjusted operating income by 2028. What does that look like?

·????? Tim Hortons: From 600 U.S. stores to 1,000.

·????? Popeyes: From nearly 3,400 locations in 2023 to more than 4,200.

·????? Firehouse: Aspirations to 300 annual openings within five years, and a path to reach “at least” 800 net new units by 2028.

Let’s talk about Burger King for a moment, though. If you caught the conversation between brand president Tom Curtis and me at last year’s QSR Evolution Conference, you’re aware of how much was stirring. Goodbye “Creepy King.” How many times can one person hear that “Whopper, Whopper, Whopper” jingle? And hey, there’s a new “Sizzle” prototype and kiosks emerging on the horizon.

CONFERENCE WEBSITES:

QSR Evolution (you can go straight to registration here)

FSR NextGen Restaurant Summit (straight to reg here)

Yet since 2024 arrived, Burger King has spent $1 billion to acquire its largest franchisee—Carrols—and recently shared it was going to deploy $300 million more to modernize its fleet of restaurants. In all, more than $2 billion has been earmarked to drive one of the most consequential comeback stories in industry history. And results have flowed in, with average profitably per store up nearly 50 percent last year and same-store sales comping positive this past quarter.

As somebody told me on a podcast recently, Burger King is in the news again, and with more positive spin than we’ve seen in a good bit.

And that takes us to September, when Curtis, Popeyes’ recently minted president Jeff Klein, Firehouse’s Mike Hancock, and Tim Hortons U.S.’s Katerina Glyptis, will kick off QSR Evolution Year 2. This is about as unique a setup as you’re going to find out there. We’re going to step inside a journey that, without hyperbole, is going to shape a good portion of the sector for years to come. Where does Burger King end up when “Reclaim the Flame” concludes? Will Firehouse go 100 percent digital, as the brand hinted earlier in the year (goodbye counters, hello kiosks)? Can Popeyes continue to grab share in a chicken category bursting at the edges? Will Tim Hortons, at long last, be able to take some of that Canadian cult fervor to the states?

We’re going to find out. And I hope you’ll join me for the ride.

P.S.: If you work at Restaurant Brands International or any of its brands, message me separately. We have a special code.