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Mickey D’s Hopes Refranchising Will Lead to Turnaround
The fast-food giant is looking to turn more corporate stores into franchise locations.
McDonald’s may be the reigning champ of fast-food franchising, but the company has faced its fair share of negative news of late.
According to a recent report from USA Today, new CEO Steve Easterbrook is looking to refranchising to improve the company’s fortunes. The news source reported McDonald’s will increase refranchising to include 90 percent of the chain’s 36,000-plus locations by 2018. This marks a 9 percent increase from the current refranchising level.
Easterbrook referred to the company’s increased focus on converting company-owned stores to franchise locations as part of an “urgent need to reset this business.”
This comes on the heels of news in April that first-quarter comparable sales decreased 2.3 percent for the company.
Read the full story here.
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About the Author
Nick Powills
FollowNick Powills, CFE, founded No Limit Agency in 2008 and serves as Chief Brand Strategist for the Chicago-based firm. No Limit is a full-service communications agency that establishes and elevates brands by bridging Public Relations, Social Media, Marketing, Advertising, Digital, and a lot of creativity, to best strategize well-rounded and successful campaigns for 50+ global franchise brands. By presenting visionary ideas and building real relationships, No Limit is able to create effective media branding strategies to help companies grow. Nick currently leads a staff of writers, media strategists, designers, social media experts and digital producers in an office think-tank where brands are humanized for strong, compelling media stories. Prior to starting No Limit at the age of 27, Nick spent four years working at a franchise PR agency where he mastered the art of building rapport with media outlets and creating newsworthy pitches for earned media placements. He holds a Bachelor of Journalism from Drake University in Iowa.
