I pulled some numbers together on the average 1 year same store sales growth in 2004 of quick service restaurants (and a few non-QSRs):
|2004 same store sales growth|
|Tim Horton’s||+ 12.1%|
|Qdoba Mexican Grill||+ 10%|
|Jamba Juice||+ 8.0%|
|Steak & Shake||+ 7.8%|
|Boston Pizza||+ 7.4%|
|Pizza Hut||+ 6.0%|
|Jack in the Box||+ 3.1%|
|Carl Jr.||+ 3.1%|
|Taco Bell||+ 3.0%|
|Panera Bread||+ 2.7%|
|Gloria Jean’s||– 3.5%|
Is your QSR doing better or worse? Rumor has it the big sub franchises (Subway, Blimpies, Quiznos) aren’t doing nearly as well. Apparently the franchisors are squeezing the profitable stores by putting in new stores nearby to maximize their franchise fees and royalties. What a great reward for beating the average!
Update April 16, 2005:
Same-store sales from 53 quick-service and family-dining chain restaurant companies, representing more than 40,000 units, were up for the 86th consecutive week as of Feb. 21, 2005 and rose 4.6 percent for that week, according to the NPD Group, the foodservice market research firm based here.
NPD, which tracks weekly sales trends at chains and independents, said the average same-store sales increase during the 86-week period was 4.4 percent. The upswing since July 2003 followed two years of flat or negative growth, NPD reported.
Chain restaurants captured an additional 3 percent of the foodservice market between 2001 and 2004, at the expense of independent restaurants, NPD added. It said consumer demand was driven by quick-service restaurants’ new menu offerings that focused on higher quality and innovation. link to source
Update April 17, 2004 (Hat Tip: Brad. Thanks for sending the link!)
Between 2003 and December 2004:
- 64% of restaurant operators reported a same-store sales gain
- 20% of operators reported a same-store sales decline
(source: National Performance Index authored by the National Restaurant Association, 2005)