Quick-service restaurant openings surged by 174 in the last 12 months
GYG is leading in new restaurant growth this year.
A net change of 174 restaurant openings was monitored over the last 12 months ending 30 June, according to the latest Fast Food & Quick Service Restaurant (QSR) Retail Network Report by GapMaps.
Monitoring 29 brands in 6,861 locations, 336 new stores opened and 162 closed, with April recording a very active month with 114 restaurant openings and 55 closings, a net change of 59 additional stores, or 34 per cent of the annual total.
According to Scott Johnson, Senior Analyst at GapMaps, there has been a lot of movement across all fast food and QSR sectors as brands adjust their store portfolios in what is still a changing landscape and economic environment. Johnson said he sees the net 174 new restaurants as a positive and illustrates strong growth and confidence across the sector.
In the 12-month period, Sushi Hub and Guzman Y Gomez reported a net increase of 21 stores each, the largest increase of all brands tracked, whilst Guzman Y Gomez had the biggest increase in the final quarter with 10 net new stores. Dominos grew by 18 stores over the 12-month period but reported a net decrease of four stores in the last quarter.
There was also strong growth in burger brands with a network size of around 50, with Betty’s Burgers, Carl’s Jr and Patty Smith’s adding 10, nine and six stores respectively to their network total.
Other brands to report double-digit growth in net new stores over the full year included KFC (16), Noodle Box (14) and Grill’d (13). Behind Guzman Y Gomez in store openings in the final quarter were Zambrero (+7), Sushi Hub and Noodle Box (+6 each).
Across the 12-month period, only three brands contracted their store numbers, which included Nando’s (-5) and Red Rooster and Sushi Sushi (-1 each). Additionally, four brands reported no change – Hungry Jacks, Rosie’s Chicken, Chicken Treat and Pizza Capers.
Subway, McDonald’s, Domino’s, KFC, and Hungry Jack’s are the top five brands with the most store counts.
