ATLANTA, GA--(Marketwired - July 07, 2016) - Franchise Direct recently released its annual Food Franchise Industry Report, a detailed study of the current state of food-related franchise businesses. The report summarizes the latest information regarding the food franchise industry, and provides potential franchise investors with details on what the industry has to offer.
The report divides the food industry into three areas: full service, quick service and retail food. These three segments account for 33% of the total franchise establishments in the United States. Along with figures for predicted growth in the three areas of the food industry, the report also provides a snapshot of what the last few years have looked like for 10 various food franchises on a micro level.
Meeting Customer Needs Through Menu Offerings
Tapping into potential areas for growth is an ongoing challenge in a fiercely competitive market. One notable trend appearing alongside traditional items is the addition of breakfast and morning snacks to boost sales.
Franchises including McDonald's and Subway have set the pace, resulting in increased morning competition for traditional breakfast providers like Dunkin' Donuts. In the first quarter of 2016, McDonald's recorded a 35% increase in profits for the quarter.
Additionally, value meals have made a comeback. There has been a resurgence of fast food franchises courting wallet-conscious consumers through new or re-introduced value meals.
"The fast food industry hasn't seen this kind of a price war since the '90s."
Updated Looks to Capture Customer Attention
Refreshing a brand's image can broaden a company's audience and position to take advantage of changing market conditions. Chains including Taco Bell and Cinnabon have set target goals to introduce new designs that capture the brand's aesthetic across multiple markets.
Captain D's serves as a success story of how a modern update to both restaurant and menu can work favorably. Listening to customer's needs has paid off. The seafood franchise ended 2015 with an all-time system wide average unit volume record.
Rising Trends in Food Franchises
The report also covers emerging food franchise trends, such as customer-driven product customization, and the growing desire for lighter snacking dayparts to accompany full-size menu counterparts. 2016 signals the importance of tapping into the customer's needs to stay relevant through innovation.
The report concludes with detailed information for potential franchise investors on types of food franchises, initial investments, and ongoing fees for top franchise brands.
Read the full Food Franchise Industry Report 2016 here.
About Franchise Direct:
Franchise Direct is the world's leading franchise portal, operating 13 franchise websites across five continents. Our mission is to be the leading online resource for franchise opportunities and the knowledge center of choice for anyone seeking information on the franchise industry.