Nation's Restaurant News On the Go Newsletter #19
Nation's Restaurant News
The #1 source of news and business intelligence for restaurant and foodservice industry professionals
Spring Cleaning
Happy Friday and happy spring everyone! NRN editor-in-chief Sam Oches here.
Or maybe I should say not-so-happy spring, as we’ve had a lot of cold and rain here in the Midwest. I might just be cursed: I traveled to Palm Springs, Calif., last week to lay some groundwork for our CREATE Experience in October, and it was even pouring in the desert. Rest assured, though: Locals swear the weather will be gorgeous when we show up for CREATE Oct. 1-3. Much more info on that to come, but save the date! ??
Weather aside, now is of course a great time for some spring cleaning, and brands seem to have gotten the note. Efficiency is the word of the year, as companies are trimming the fat that accumulated in the survive-at-all-costs period that was the past three years. They’re also looking more at how they can cut costs —?or at least perceived cost —?to provide value for customers as traffic remains down and inflation keeps up.?
We were curious to know whether discounting was once again the value play of choice in a volatile economy, so we posed the question to all of you on LinkedIn. Turns out, most of you must have gotten the note a decade ago that discounting is a hard nose-dive to pull out of: Only 10% of you said deals and discounting were how you were primarily creating value. Meanwhile, a full 56% of you are creating value through customer service and experiences, while 21% are doing so through menu innovation and 13% through loyalty programs.?
Now let’s get into the news!
Despite ongoing pressures, QSR franchising is projected to have a strong year
The International Franchise Association released its annual Economic Outlook Report this week, which overall shows a moderation of franchising activity in 2022 versus a busy 2021.
The quick-service segment is positioned for a strong year versus the overall franchising industry, with 2.5% growth projected versus 1.9%, respectively. IFA’s report shows that the quick-service segment is expected to grow to nearly 197,000 franchise units this year, from just over 192,000 last year. For context on how attractive this franchising option has become for so many people through the pandemic, there were 183,543 franchised QSR units in 2020.
Roark Capital Group, Issa brothers emerge among more possible Subway suitors
The reported number of companies looking at buying the Subway brand has expanded with sources this week mentioning Atlanta-based Roark Capital Group and the British-based owners of the Asda supermarket chain.
Valuations of the possible deal have been as high as $10 billion. “Some suitors may value the business at as much as $8 billion,” one source told Bloomberg for Wednesday’s report on Roark’s interest.
Firehouse Subs CEO Don Fox steps down; COO Mike Hancock takes the reins
Don Fox, CEO of Firehouse Subs for more than 13 years, is stepping down from the position. He’ll be succeeded by Mike Hancock, chief operating officer of the brand, Fox said in a Facebook post Thursday.
“I will continue to serve in the role of chairman, where I aspire to add value as needed while gaining the luxury of time to pursue additional interests,” Fox wrote in his post. “As I told the Firehouse team this morning, it has been a privilege to serve them and the brand. I could not have asked for a greater team of people to lead.”
领英推荐
Howard Schultz defended against allegations of union-busting in heated Senate hearing
Howard Schultz — current board chairman and former CEO of Starbucks — defended allegations of union-busting against the Seattle-based coffee giant during a three-hour-long U.S. Senate Health, Education, Labor, and Pensions committee hearing led by Senator Bernie Sanders (I-Vt.) Wednesday.
Throughout the hearing, Schultz defended his company, stating over and over that Starbucks never broke the law — specifically the National Labor Relations Act — for which the coffee chain has come under fire for allegations of union-busting including illegal terminations of employees.
Several restaurant companies named as ‘great workplaces for women’
Newsweek recently released its “America’s Greatest Workplaces for Women 2023” in partnership with data company Plant-A Insights Group and there were several restaurant companies on the list – including many without formalized gender parity goals?in place.
Eight restaurant companies received a 5-star rating in the "America’s Greatest Workplaces for Women” survey, which included input from HR professionals and over 37,000 female employees.
Restaurant companies on the list that scored the highest – 5 stars – include:
2023 Restaurant Equipment Outlook
Innovative new equipment is reshaping the future of restaurant operations with tools that are smarter, sleeker and more sustainable. In our latest interactive report, see how leading restaurant companies are leveraging new equipment and technology to drive sales, cut labor costs and eliminate waste. Plus, get a glimpse of the trends to watch in 2023 and beyond.
Podcast: Does this man have Chipotle’s most important job?
Sam Oches talks with Ronald Benjamin, senior director of guest and employee experience at Chipotle in this week's episode of Take-Away with Sam Oches.
Want more Nation's Restaurant News?
Realtor Associate @ Next Trend Realty LLC | HAR REALTOR, IRS Tax Preparer
1 年Thanks for the updates on, The NRN Weekly Newsletter.