Multiple reports shine a positive light on franchise restaurant market.
The final financial results for 2015’s first quarter are in, and they should give restaurant industry professionals something to smile about. Citing data from TDn2K’ Black Box Intelligence, QSR reported that same-store sales growth increased 2.8 percent during Q1. This data is based on more than 20,000 units representing $48 billion in annual revenue.
“We continue to be optimistic about this new cycle of opportunity for the restaurant industry,” Victor Fernandez, executive director of Insights and Knowledge for TDn2K, was quoted as saying. “For the first time since the recession, the industry has reported three consecutive quarters of same-store sales above 1.0 percent and the last two quarters have both been above 2.0 percent (also a first in over six years).”
Additionally, franchise restaurants continue to be a driver for employment. According to the latest ADP National Franchise Report, the franchising industry, which includes restaurants and food retailers, created 20,000 jobs during March. While this represents a decrease from February, ADP maintained the employment growth rate for franchises still exceeds the overall growth rate for the previous 12 months.