What Does the Future of Fast Food Franchises Look Like?
The future of food franchises–particularly fast food–seems stronger than ever, with growth skyrocketing for many brands. Overall, the number of corporate build-outs and fast food franchise opportunities in 2022 is growing at an average annual rate of 2.4% per person, with an expected compound annual growth rate (CAGR) of 4.6% from 2020-2027. That’s a lot of business talk for the fast-food industry, making a surplus of profit for the foreseeable future.
That’s the obvious part of the discussion. The Coronavirus pandemic created a new marketplace for corporate-owned fast food and fast-casual restaurants, as well as any food franchises across the country and worldwide. The industry had to evolve. And, whether we want to admit it or not, it changed for the better.
When you think of a “restaurant,” it’s no longer about a collection of tables, a play area, a working kitchen, and a couple of bathrooms. It’s a delivery service, a curbside takeout organization, dine-in operations, and a drive-thru. They can do it all if the brand’s owner or the food franchises have chosen to evolve with the times.
What is fascinating about the fast food and casual dining industry is how the food is changing. Take it from us at Shawarma Press. We’re trying to lead the charge for a different assortment of food franchise opportunities for consideration. Whether they are brick-and-mortar or something expanding in a Big Box operation, the industry’s climate is changing, and if you ask us, it’s for the better.
A Different Twist on Fast Food
The most extensive fast-food operations worldwide are Subway and McDonald’s (in that order). Subway changed the way people thought of fast food and fast food franchises for sale.
With 37% of U.S. adults eating fast food every day, followed by 36% of young people, there is a solid need to reconsider dietary options. Currently, the U.S. obesity rate is 41.9%. Obesity-related conditions are spreading everywhere, such as heart disease, Type-2 diabetes, or stroke. Most of the reasons you hear for that rapid rate is that “healthy food costs more than junk food.” Fortunately, if you look at the different options of food franchises, that’s not the case any longer.
This is why food franchise opportunities now offer a more holistic approach to their consumers. Take us, for instance. We share a unique twist on Mediterranean food because Americans constantly look for alternatives. Burgers and even chicken tenders are yesterday’s trends. Today, people want to eat and feel good about themselves. That’s why emerging options are growing at astronomical rates. These brands, like Shawarma Press, are known for their superior quality, authentic, and innovative flavors.
Plant-Based Growing at a Fast Pace
Veganism, the practice of eating only food not derived from animals, is rising in popularity across America. Today, about 1.6 million vegans and another 9.7 million prefer a vegetarian-based diet. With a growing market share like that, more plant-based options should be available on menus.
It has taken a while for the fast food industry to change from the typical burger and fries fare. After all that has been the usual fast food since 1921 when White Castle first introduced the concept of a quick-service restaurant (QSR). Today, consumers look at many reasons for changing their eating habits. Today, for example, there are more vegan and vegetarian options available than ever before.
Maybe you have noticed McDonald’s and Burger King offer Beyond Meat products–a plant-based burger or chicken fingers. Those behemoth brands are tapping into plant-based products because that’s where the money goes. Bloomberg Intelligence reports the plant-based marketplace is $29.4 billion and could grow to $162 billion by 2030, “making up 7.7% of the global protein market.”
Health Creates Different Options for Dining
In addition to these healthier options with the foundation of dishes, fast food franchises are offering butter alternatives (e.g., macadamia, chickpea) to replace the more common unhealthier oils. The rise of celiacs in America has created the need for flour alternatives in food franchises. There are also healthier options with sweeteners for baked goods and drinks. Drinks are becoming healthier with natural juice, less sugar, sparkling water, or hibiscus lemonades.
Trends on Food Franchise Opportunities in 2022
The most important piece of this healthy evolution among fast food franchises is that it is truly a customer-first approach. People need healthier options for dining, whether they know it or not. Meat alternatives are not just for the plant-based community. Some diners just want to be healthy. Others are thinking twice about not harming animals. And a few are familiar with the protein scarcity numbers among livestock. Whatever the reason, it’s good that health is rising in interest among food franchise opportunities in 2022 (and beyond). There are many ways to eat better and create an experience designed to delight diners, and we couldn’t be happier to help usher in a new option for a healthier future in fast food.
Check our Latest posts
If you’re an aspiring entrepreneur, you have probably considered exploring the franchise business model as a viable business option. When it comes to opening a business, venturing into uncharted waters can be risky. As with all businesses, there are pros and cons of owning a franchise. To help you make an informed decision about whether…Read More
The American Dream — many people strive to achieve it. With hard work and determination, upward mobility is possible for anyone, regardless of background. This Dream can be achieved using a business model that has been around for decades — the franchise business model. Franchising allows you to be in business for yourself, but not…Read More
Franchising is synonymous with the American Dream, and there are good reasons for that! The franchise business model allows people with no business experience to be in business for themselves, but not by themselves. When you open a non-franchised business, you are on your own- you don’t have the support of a franchisor at your…Read More