Fast Food Franchising

Goals

To obtain insights into the general consumer perception of fast-food meals, the number of people who consume such meals daily, the average cost of purchasing a meal, the average cost of setting up a franchise, some health conditions associated with consuming fast food, and a list of the top franchisers globally.

Early Findings

  • The US is the largest market for fast food. Americans spend a total of $50 billion on fast-food annually.
  • Forty-eight percent of all Americans believe that fast-food meals are "not too good," while 28% of all Americans believe that fast-food meals are "not good at all." The study went on to show that people who consume fast food meals frequently tend to think it is better overall than those who rarely eat or do not eat fast food meals at all.
  • According to a study by University Hospital, 24% of adults eat three or more fast-food meals per week.
  • In another study by the National Center for Health Statistics, more than a third (37%) of Americans eat some type of fast food.
  • Furthermore, the study went on to show that people tend to consume more fast food meals with increasing income.
  • According to Commetric, an increasing number of people believe that fast-foods have contributed largely to global obesity. This has led to consumers becoming more health-conscious of what they eat. 41% of Generation Z and 32% of Millennials stated that they would “pay a premium for sustainably sourced ingredients”.
  • In a recent report by Franchise Direct, the initial investment needed to startup a fast-food franchise in the US ranges from $ 89,550 for Subway stores to as high as $3,220,000 for Panera stores. Also, the initial investment required to start up a fast-food outlet depends on its size and location.

Summation Of The Availability Of Information Relevant To The Goals

In our initial hour of research, we were able to provide some insights on the general consumer perception of fast-food meals, the total consumer spend on fast food meals globally and in the US, the average cost of setting up a franchise, and some health challenges related to the consumption of fast food meals.

Proposed next steps:

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