Commentary

The end of June featured the much-hyped debut of Guzman y Gomez on the ASX. I wanted to look at how the Mexican fast-food franchise can thrive in the coming months and years, with ambitious expansion targets having already been set. 

The 2016 film, The Founder depicted the story of the McDonald's franchise, when struggling Prince Castle salesman Ray Kroc, who is played by Michael Keaton, travels to San Bernardino in California to meet Dick and Mac McDonald at their eponymous restaurant.   In one memorable scene, Kroc discovers that a McDonald's franchisee has taken it upon himself to add fried chicken to the menu, clashing with the standardised offerings he sought to enforce. This moment highlights the challenges of maintaining uniformity across a restaurant network, something critical for the success of any restaurant brand—the brand promise must be the same in every outlet.   As many know, in the story of McDonald’s, Kroc’s vision extended beyond merely selling burgers and fries—he aspired to deliver the same high-quality experience at every McDonald’s location across the United States. This uniformity is essential for restaurant chain dominance and is the foundation for success—franchise or not.   It’s critical to set customer expectations through your brand promise and to ensure they are met throughout the restaurant chain. These principles can be embedded into your operations in various ways.   Clear expectations that are consistently communicated ensure franchisees and restaurant managers have a thorough understanding of their responsibilities and the standards they must uphold. This can be achieved through regular communication, such as town hall meetings, newsletters, and updates to the franchise operations manual.   A ‘playbook’ is a document that outlines an organisation’s strategies, processes, and practices. It serves as a dynamic roadmap for business operations, ensuring consistency and efficiency while aligning with the brand’s goals and values. The playbook encompasses vision statements, core values, roles, responsibilities, and – most crucially – operational processes. It provides a detailed guide to daily operations and routine activities critical to the business.

In this final article of the three-part series ‘Tackling Food Waste as a Sector’, we turn our attention to technology. The previous articles explored sustainability and cost-saving measures. Here we cover how technology can support key solutions to reduce food waste, helping QSRs operate more efficiently and sustainably.

This is the second article of the three-part series ‘Tackling Food Waste as a Sector’. The previous article explored sustainability and navigating upcoming regulations. Here, our focus is on cost savings. It looks at some of the cost benefits of food waste reduction and how they can have additional benefits for your business.

Food waste costs Australia $36.6b annually and action in the QSR sector will be crucial to reduction efforts

Open Banking is seen as a way for a fast-growing business to access alternative credit streams.

In 1966, a young woman, with her four children in tow, embarked on a 30-day sea journey to Australia, marking her youngest child's second birthday amidst the waves. This trip was driven by the hope of a better future for her family, all based on the promise of a letter.

Significant changes in food safety regulations on Friday, 8 December, might have left many food businesses on the wrong side of compliance and susceptible to problems. The new Standard 3.2.2.A outlining three additional requirements for food businesses across all states and territories in Australia that must be considered.

Data and analytics now play a pivotal role in helping QSR chains design menus.

Driving innovation through technology.

How do you know if you're doing well?

International Women's Day is a day to celebrate and reflect on the progress we have made in creating a more equal and inclusive workplace for everyone. This year's theme of "Embrace Equity" brings this to the forefront and equal opportunities should be tailored to individual needs.

The quick-service restaurant (QSR) industry has been witnessing a revolutionary trend as consumers reduce dining in and utilise delivery options. Something that was initially popularised due to the pandemic seems to be sticking around, and global restaurant operators are taking notice of it. In McDonald’s third-quarter earnings report, CEO Chris Kempczinski emphasised a digital momentum, that digital sales now represent over one-third of systemwide sales in McDonald’s top six markets. This signifies the importance for QSRs to partner with delivery platforms to open up additional channels for consumers to access their ‘Happy Meal’ or ‘Whopper’.

The restaurant industry is highly competitive. Brick and mortar businesses such as fast-food chains, cafeterias, and restaurants have been struggling to retain existing customers and acquire new ones.

It may sound cliche but content is king. With the number of quick-service restaurants growing, the food and hospitality industry is becoming more competitive. If you are just relying on traditional marketing methods, you will only see minimal results in your advertising efforts.

The Covid-19 pandemic has shown us how important digital marketing is to every business, no matter how big or small. Businesses such as restaurants can adapt to emerging market trends by utilising online marketing. Being able to connect with the customers in this digitally-driven world is a key to success.