Many Americans have shifted to doing just about everything virtually, from work to school to happy hour. But for restaurant owners, a physical location remains the anchor of their business – after all, they can’t serve or deliver a meal from the sofa of their living room.
It’s no secret that COVID-19 has had a massive impact on the restaurant industry. Yelp, which provides local business ratings and reviews, has found that as of the end of July, 15,770 restaurants had permanently closed across the U.S. At the same time, consumers are flocking to proven brands positioned to meet new requirements with tools like order ahead, contactless payment, delivery, and drive-thru.
Widespread closures, coupled with consumer demand for the convenience of quick-service establishments, have created an opportunity unlike any other for current and potential franchisees. That’s why in this moment of rapid change, real estate asset strategy should be at the center of the go-forward plan for any franchisee.
Click here to read Don Crocker’s five tips for unlocking real estate growth in QSR.
To learn about franchising opportunities at Inspire Brands, go to inspirebrands.com/franchising.