Circle K, Freddy’s Frozen Custard & Steakburgers and Tropical Smoothie Cafe ranked among the Top 10 fastest-growing franchises by unit, according to the Franchise Times Top 200+ ranking.
Circle K and Freddy’s each showed about 19% growth from the previous year to $8.1 billion, while Tropical Smoothie showed an increase of 16.5% to $392.9 million. At $90.9 billion in sales, Mcdonald’s was the No. 1 franchise overall with a 7% increase, with 7-Eleven, KFC, Burger King, Subway, Domino’s and Pizza Hut all in the top 10.
The 200 largest U.S.-based franchisors grew their combined annual sales by more than $28.5 billion (4.6%) last year. The 10 largest franchised brands added $14.3 billion in sales, increasing 5%.
For the full story, go to this week’s Food Institute Report.
Several food companies reported earnings over the last week. While manufacturing and retail are thriving with increased sales during the pandemic, portions of the foodservice segment continues to struggle.read more
Chris is a business writer and market analyst that focuses on the Markets, Legal and Washington sections of the Food Institute Report. In addition, he assists in compiling data for various Food Institute publications throughout the year. He invites you to contact him via email at email@example.com to talk about anything food-related.
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