Why is restaurant franchise accounting software important? Let’s take a look at the current state of the restaurant franchise market…
Quick service restaurants (QSRs) – or fast food restaurants – make up the fastest growing segment of the restaurant industry, with around 12% of the British public buying fast food once a week.
To meet and capitalise on this demand, 60% of franchises now offer value meals – such as McDonald’s Saver Menu or Burger King’s King Saver menu – making the companies’ offerings accessible to an even broader market.
However, 22% of these had a negative impact on margins in 2018, despite increased revenue and overall growth in the QSR market.
Nevertheless, the market is resilient; this has become evident over the last few years, with the QSR market value dropping from over £21 billion in 2020 to £18.9 billion in 2021 as a result of closures during the pandemic, and good recovery seen in 2022 bringing the market value back up to £20.6 billion.