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Kinton Ramen Lowers Prices: Benefits from Franchising Kinton Ramen, part of Kinka Family of restaurants, just lowered the price of its ramen bowls by $2! This was achieved through franchising, which allowed the restaurant to negotiate better prices with suppliers. The price drop comes after a period of inflation, during which food prices in restaurants rose significantly. Experts say that franchising can be a good way for businesses to lower costs and offer better value to customers.

Some news out of Australia. The Carl's Jr. Master Franchisee is going into voluntary administration impacting its 24 locations. Australia is a really tough operating environment for restaurant chains, and even more challenging for late to market entrants. Globally, second and third-tier players face huge obstacles in the hamburger, fried chicken, pizza, and coffee categories. Brands like KFC and McDonald's started overseas expansion 50 years ago and built strong foundations, which were followed later by Pizza Hut, Domino's, and Starbucks. The only viable solution is to find a positioning that is sustainable and not in direct competition with the giants! MOS Burger, Kyochon Chicken, Jollibee, Kopi Kenangan, and Mega Coffee, are a few that come to mind. https://lnkd.in/g8Xnv9R9

Jonathan Maze Restaurant Business Online tells us about Tasty Restaurant Group - "The multibrand franchisee, which also operates Pizza Hut, Burger King, Dunkin'’ and Taco Bell, acquired the locations in the central and Southeast U.S." Multibrand franchisee Tasty Restaurant Group has acquired 64 KFC restaurants in the central and Southeast U.S., owner Triton Pacific Capital Partners, LLC said this week. Terms of the deal were not disclosed. But the deal marks a “significant expansion” for Tasty’s KFC brands, which operate under the name Tasty Chick’n. But the deal gives Tasty Restaurant Group 470 restaurants in several brands, including Pizza Hut, Burger King, Dunkin’, Baskin-Robbins and Taco Bell, in addition to KFC. They operate in multiple states. Craig Faggen, CEO of Triton Pacific, a private equity group, called the deal “transformative” for the Tasty Chick’n business. “With a historical track record of strong cash flow and above brand average unit volumes, we are confident in the growth prospects alongside our current portfolio,” he said in a statement. The company called the acquisition an “excellent investment opportunity” that could fuel new development opportunities. That would be good news for KFC, which has run into some challenges over the past year and a half. The brand closed a net of 127 locations last year as its sales and unit volumes slowed. Triton is based in Los Angeles and focuses on quick-service restaurants in addition to specialty finance companies and healthcare. https://lnkd.in/eC56PBse #QSR #Entrepreneur #Restaurants #Franchise #Franchising #FranchiseChat Chainformation Altir Industries, Inc. Franchise Pipeline Franchise Development Outsource Ned Lyerly Joe Caruso Michael (Mike) Webster PhD Anders Hall Jonathan Martin Michael Scherr Robert Rodriguez, MBA Steven Abigail Don Hensley Adam Greenway Neil Thomson Tasos Douglas    

Alicia Kelso at Nation's Restaurant News tells us - "KFC’s newest restaurant in Rome, Italy, marks the company’s 30,000th global location. The company announced the milestone today, noting that a new KFC location opens somewhere in the world every 3.5 hours on average. “Opening our 30,000th restaurant is a testament to the support of our local business partners, employees, and customers over the past nearly 75 years,” Sabir Sami, CEO of KFC Global, said in a statement.  "While we are a global brand, we aim to meet the unique needs and expectations of our guests on a local level, with menus that resonate with the local culture and flavors of each community. That also includes serving local communities through our food donation and upskilling programs, which operate in many of our markets, including Italy. In 2023, KFC opened nearly 2,7000 restaurants across 96 countries, a 10% development pace and setting a brand development record. More than 80% of unit growth came from 15 publicly traded franchisees. KFC accounts for nearly 50% of parent company Yum Brands’ divisional operating growth. During Yum! Brands’ most recent earnings call last month, executives called out several standout markets for the brand. China, India, Thailand, South Africa, and Spain drove KFC US's development during 2023 and were part of a group of 15 countries that grew unit count by more than 25 restaurants. Further, KFC plans to enter its 150th country later this year. The new restaurant in Rome was opened by master franchisee COB S.R.L., which plans to open more than 25 additional KFCs across Italy and surpass 100 units later this year." #entrepreneur #entrepreneurship #Restaurants #Franchise #Franchising #FranchiseChat Chainformation RAAMP Altir Industries, Inc. Franchise Pipeline Franchise Development Outsource Ned Lyerly Joe Caruso Michael (Mike) Webster PhD Anders Hall Landrum Randolph Michael Scherr Jonathan Martin https://lnkd.in/g4-6GB8W

Denny’s is closing 150 restaurants over the next year, and the 71-year-old diner chain is mulling a major change to its 24/7 operating hours. Fifty locations are set to close by the end of 2024, while the remaining 100 will shutter in 2025, Denny’s announced in an earnings call Tuesday. That amounts to a tenth of its restaurants, leaving 1,375 locations once completed. A specific list of closing restaurants weren’t immediately announced. Denny’s is targeting “underperforming restaurants” that are weighing down the company’s financial performance, according to Steve Dunn, Denny’s executive vice president and chief global development officer. The affected locations are either too old to be remodeled or in areas that have become unprofitable. The chain, best known for never closing its doors, is also making a major concession with its franchisees over the requirement of remaining open 24/7. Since the pandemic, about a quarter of its restaurants have not returned to those around-the-clock hours, so Denny’s is easing up on the requirement for a franchise to do so.

NEWS OF THE DAY! Restaurant Brands International, the parent company of Burger King, seals a $1 billion agreement to acquire Carrols Restaurant Group 1.     Restaurant Brands International Inc. (QSR) is set to acquire Carrols Restaurant Group (TAST) for $1.0 billion. 2.     The deal offers $9.55 per share for TAST, representing a 23.1% premium to its 30-day average price. 3.     Carrols is the largest Burger King franchisee in the U.S., operating 1,022 Burger King and 60 Popeyes restaurants. 4.     Burger King plans to remodel the acquired restaurants over the next five years as part of its Reclaim the Flame plan. 5.     The transaction is aimed at accelerating sales growth, driving franchisee profitability, and follows Burger King's initial $400 million investment in September 2022. 6.     Carrols' board formed a special transaction committee to evaluate the proposal, consisting of independent directors with advice from legal and financial advisors. =>Please follow Finplate and stay updated with the latest #mergersandacquisitions news. Thanks in advance. To read more about the news, please visit below given link: https://lnkd.in/ehhqm2NC

After 11 restaurant openings and a 13% increase in transaction count in 2023 , Pollo Campero, the Central American chicken franchise is continuing rapid growth across the U.S. Last year, the system opened 11 new U.S. restaurants, surpassed $275 million in systemwide revenue and increased its transaction count by over 13%. “2023 was a great year for our growth, both in terms of unit count and other progress made for the system as a whole,” Blas Escarcega, vice president of franchise development, told QSR. “In addition to opening 11 new restaurants, we were able to launch a breakfast menu at some locations and introduce a new prototype to the St. Cloud, Florida community. The entire system also saw a 19% increase in sales year over year, illustrating the continued demand for our flavorful chicken meals in all the markets we enter.” Now, the brand is looking to continue this momentum through 2024. Pollo Campero is set to cross the 100-restaurant mark in the U.S. in March, and has plans to open at least 25 total restaurants this year. It is also looking to award five new franchises this year, focusing on development in Tennessee, North Carolina, South Carolina, Northern Florida, Utah, South Texas and Colorado. #restaurant #franchise 📣 https://lnkd.in/gi8-Eq7n

Tom Gordon, co-founder & CEO of Slim Chickens, will be one of four presenters during the Executive Perspectives session at Restaurant Franchising & Innovation Summit 2024. Tom's talk is titled "Blurred Lines: The Evolution of the Limited-Service Concept." #RFISummit

The restaurant industry has long been a vibrant part of our culture, serving as gathering places for friends and families, offering culinary delights, and contributing significantly to local economies. However, in recent years, this once-thriving sector has faced an unprecedented wave of closures and bankruptcies. The combination of economic pressures, labor shortages, shifting consumer habits, increased competition, regulatory challenges, and the rapid advancement of technology has created a perfect storm for the restaurant industry. As beloved establishments close their doors, it serves as a reminder of the complexities and vulnerabilities inherent in this dynamic sector. The landscape may continue to evolve, but the resilience and creativity of restaurateurs will be crucial in navigating the challenges ahead and revitalizing an industry that may hold dear. #hospitality #restaurant

Tom Gordon, co-founder & CEO of Slim Chickens, will be one of four presenters during the Executive Perspectives session at Restaurant Franchising & Innovation Summit 2024. Tom's talk is titled "Blurred Lines: The Evolution of the Limited-Service Concept." #RFISummit