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COMPANIES
&
PRODUCTSBurgerKingCHAPTER
01IndustryoverviewMarketsizeofthequickservicerestaurantindustryworldwidein2022and2023(inbillionU.S.dollars)Globalquickservicerestaurantindustrymarketsize2022-20231,200978.4967.641,0008006004002000202220233Description:In2023,themarketsizeofthequickservicerestaurantindustryworldwidereached978.4billionU.S.dollars,representingaslightincreaseoverthepreviousyear.Quickservicerestaurants,alsoknownaslimitedserviceorfastfoodrestaurants,areestablishmentswhichtypicallyservefoodtocustomersquicklywhilehavingminimaltableservice.Whataretheleadingfastfoodrestaurantchainsworldwide?Asof2024,Starbucksheldthetitleofthehighest-valuedrestaurantbrandintheworld.[...]ReadmoreNote(s):Worldwide;2022to2023Source(s):IBISWorldLeadingrestaurantbrandsworldwidein2024,bybrandvalue(inbillionU.S.dollars)Mostvaluablerestaurantbrandsworldwide2024BrandvalueinbillionU.S.dollars300102040506070StarbucksMcDonald'sKFC60.73814.2Domino'sPizzaSubway6.17.27.15.94.9TacoBellTimHortonsChipotleBurgerKingPizzaHut5.25.14Description:In2024,Starbuckswasthehighest-valuedrestaurantbrandworldwide,withabrandvalueof60.7billionU.S.dollars.McDonald'srankedsecondwith38billiondollarsinbrandvalue.ReadmoreNote(s):Worldwide;2024Source(s):BrandFinanceConsumerspendinginthequickservicerestaurant(QSR)sectorintheUnitedStatesfrom2004to2023(inbillionU.S.dollars)ConsumerspendinginthequickservicerestaurantsectorintheU.S.2004-2023400350349.9320.3304.8299.6290.230025020015010050281.9279273272261.9254.2247.9238.9232.9230.3
230.1224.2216.6206.418702004
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20235Description:Thequickservicerestaurantsector(QSR)intheUnitedStateshasseenanearyear-over-yeargrowthsince2004,withitspeakconsumerspendingexceeding349billionU.S.dollarsin2023.Consumerspendinginthissectorsawanotabledeclinein2020,however,asaresultofthecoronavirus(COVID-19)pandemic.ReadmoreNote(s):UnitedStates;2004to2023Source(s):Domino'sPizza;NPDGroupOutputofthequickservicerestaurant(QSR)franchiseindustryintheUnitedStatesfrom2007to2023,withaforecastfor2024(inbillionU.S.dollars)OutputofthequickservicerestaurantfranchiseindustryintheU.S.2007-2024350301.130025020015010050287.6275.1267.9261.2256.6240.5241225.7207.87197.23195.84187.48185.13179.51173.55171.41164.6702007200820092010201120122013201420152016201720182019202020212022
2023*
2024**6Description:Theoutputofthequick-servicerestaurant(QSR)franchiseindustrywasestimatedtoreach287.6billionU.S.dollarsin2023.Figuresincreasedbyaround40billionU.S.dollarsbetween2016and2019,andtheindustrywasforecasttostrengthenoverthefollowing12-monthperiod.However,theindustrysawadecreaseinoutputin2020,mostlikelyasaresultthe?coronavirus(COVID-19)pandemic.ReadmoreNote(s):UnitedStates;2007to2023;*Estimate.**Forecast.ReadmoreSource(s):FRANdata;InternationalFranchiseAssociationNumberofquickservicerestaurant(QSR)franchiseestablishmentsintheUnitedStatesfrom2007to2023,withaforecastfor2024NumberofquickservicerestaurantfranchiseestablishmentsintheU.S.2007-2024250,000200,000150,000100,00050,00002007200820092010201120122013201420152016201720182019202020212022
2023*
2024**7Description:Thenumberofquickservicerestaurant(QSR)franchiseestablishmentsfluctuatedintheUnitedStatesfrom2007to2023.In2023,itwasestimatedthattherewere195,507quickservicerestaurantfranchiseestablishmentsinthecountry.Quickservicerestaurantsincludelimited-serviceeatingplaces,cafeterias,fast-foodrestaurants,beveragebars,icecreamparlors,pizza-deliveryestablishments,carryoutsandwichshops,andcarryoutserviceshopswithon-premisesbakingofdonuts,[...]
ReadmoreNote(s):UnitedStates;2007to2023;*Estimate.**Forecast.ReadmoreSource(s):FRANdata;InternationalFranchiseAssociationEmploymentinthequickservicerestaurant(QSR)franchiseindustryintheUnitedStatesfrom2007to2023,withaforecastfor2024EmploymentinthequickservicerestaurantfranchiseindustryintheU.S.2007-20244,500,0004,000,0003,500,0003,000,0002,500,0002,000,0001,500,0001,000,000500,00002007200820092010201120122013201420152016201720182019202020212022
2023*
2024**8Description:In2023,over3.9millionemployeeswereestimatedtohaveworkedinthequick-servicerestaurant(QSR)franchiseindustryintheUnitedStates.Thisfigureshowsanincreasewhencomparedtothepreviousyear'stotalof3.79million.ThenumberofemployeesintheU.S.QSRfranchiseindustryisforecasttopeakin2024ataround3.99million.ReadmoreNote(s):UnitedStates;2007to2023;*Estimate.**ForecastReadmoreSource(s):FRANdata;InternationalFranchiseAssociationCHAPTER
02CompanyinformationRevenueofBurgerKingworldwidefrom2007to2023,bysegment(inbillionU.S.dollars)RevenueofBurgerKingworldwide2007-2023,bysegmentSalesFranchiseandpropertyrevenueandother3.02.52.01.51.00.50.02007200820092010201120122013201420152016201720182019202020212022202310Description:World-famousfastfoodchainBurgerKinggenerated1.3billionU.S.dollarsinrevenuefromitsglobaloperationsduringthe2023financialyear.Themajorityofthecompany'srevenuecamefromitsfranchiseandpropertysegment,whichtotaled1.2billionU.S.dollars.Meanwhile,salesrevenueduringthisperiodamountedtonearly100millionU.S.dollars.BurgerKingisasubsidiaryofthemultinationalquickserviceholdingscompanyRestaurantBrandsInternational.ReadmoreNote(s):Worldwide;2007to2023Source(s):RestaurantBrandsInternationalRevenueofBurgerKingintheUnitedStatesandCanadafrom2021to2023(inmillionU.S.dollars)RevenueofBurgerKingintheU.S.andCanada2021-20231,4001,2971,1961,1561,2001,000800600400200020212022202311Description:ThisstatisticshowstherevenueofBurgerKingintheUnitedStatesandCanadafrom2021to2023.Thefastfoodchaingeneratedapproximately1.3billionU.S.dollarsinthesecountriesin2023,showinggrowthoverthepreviousyear.
ReadmoreNote(s):Canada,UnitedStates;2021to2023Source(s):RestaurantBrandsInternationalSystem-widesalesofRestaurantBrandsInternationalworldwidefrom2015to2023,bybrand(inbillionU.S.dollars)RestaurantBrandsInternationalsystem-widesalesworldwide2015-2023,bybrandBurgerKingTimHortonsPopeyesFirehouseSubs454035302520151051.155.955.526.534.43.737.163.516.725.145.493.296.416.723.066.356.871.195.897.2525.48202223.45202122.92201921.62201820.08201720.04202018.21201617.311.4720230201512Description:Duringthe2023financialyear,BurgerKingaccountedforsystem-widesalesamountingto11.47billionU.S.dollars.Meanwhile,TimHortonshadsystem-widesalesamountingtoapproximately7.25billionU.S.dollarsduringthesameperiod.
ReadmoreNote(s):Worldwide;2015to2023;fiscalyearendedDecember31ofeachyear.Source(s):RestaurantBrandsInternationalRestaurantsalesofBurgerKingworldwidefrom2013to2023(inmillionU.S.dollars)SalesofBurgerKingworldwide2013-2023250222.72001509794.793.792.610074.675767064645002013201420152016201720182019202020212022202313Description:WorldfamousburgerfastfoodchainBurgerKinggeneratedsalesfromitsglobaloperationsamountingto97millionU.S.dollarsduringthe2023financialyear.Thisfigureincreasedby17millionoverthepreviousyear.
ReadmoreNote(s):Worldwide;2013to2023Source(s):RestaurantBrandsInternationalSalesofBurgerKingintheUnitedStatesandCanadafrom2021to2023(inmillionU.S.dollars)SalesofBurgerKingintheU.S.andCanada2021-202312010080977064604020020212022202314Description:In2023,fastfoodgiantBurgerKinggeneratedapproximately97millionU.S.dollarsinsalesintheUnitedStatesandCanada.Thisshowedgrowthovertheprevioustwoyears.Overall,thetotalrevenueofBurgerKingintheU.S.andCanadareachedaround1.3billionU.S.dollarsin2023.ReadmoreNote(s):Canada,UnitedStates;2021to2023Source(s):RestaurantBrandsInternationalNumberofRestaurantBrandsInternationalrestaurantsworldwidefrom2014to2023,bybrandNumberofRestaurantBrandsInternationalrestaurantsworldwide2014-2023,bybrandBurgerKingTimHortonsPopeyesFirehouseSubs35,00030,00025,00020,00015,00010,0005,00001,2824,5711,2424,0911,2133,7053,3164,9323,4514,9493,1022,8925,6005,8335,2914,8464,7484,6134,4134,67119,789202219,247202119,384202318,838201918,625202017,796201816,767201715,738201615,003201514,372201415Description:MultinationalquickserviceholdingscompanyRestaurantBrandsInternationalhadatotalof31,070franchiseandcompany-operatedrestaurantsacrosstheglobeduringthe2023financialyear.BurgerKingaccountedforthemajorityoftheserestaurants,withatotalof19,384units.ReadmoreNote(s):Worldwide;2014to2023Source(s):RestaurantBrandsInternationalNumberofBurgerKingrestaurantsintheUnitedStatesandCanadafrom2021to2023NumberofBurgerKingrestaurantsintheU.S.andCanada2021-20238,0007,0006,0005,0004,0007,4337,3897,1443,0002,0001,000020212022202316Description:In2023,therewere7,144BurgerKingrestaurantsintheUnitedStatesandCanada.Thisshowedafairlysignificantdeclinefromthepreviousyear'sfigureof7,389.ReadmoreNote(s):Canada,UnitedStates;2021to2023Source(s):RestaurantBrandsInternationalInitialfranchiseinvestmentsforBurgerKingintheUnitedStatesin2023(inU.S.dollars)InitialfranchiseinvestmentsforBurgerKingintheU.S.2023FranchisefeesinU.S.dollars0200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
1,800,000Improvements/constructionRealproperty/occupancychargeEquipment1,600,0001,500,000304,600245,0002-StoryInteriorPlaygroundSignage&drive-thru186,000CashandinventorycontrolsystemCivil&architecturaldrawings/professionalfeesDecorpackage100,000100,00095,000Workingcapital/additionalfundsPre-openingwages90,00072,500Landscaping60,000Franchisefee50,000Businesslicenses,utilitydeposits,leasedepositsandpayments30,00017Description:In2023,theinitialfranchiseinvestmentsforfastfoodburgerchainBurgerKingwereestimatedtototal4,520,900U.S.dollars,withimprovementsandconstructionbeingthemostexpensiveinvestmentat1.6millionU.S.dollars.Meanwhile,thefranchisefeefortheQSRchainamountedto50thousandU.S.dollars.ReadmoreNote(s):UnitedStates;2023Source(s):BurgerKing;FranchiseDirectCHAPTER
03Consumersandadvertising(NorthAmerica)AdvertisingexpensesandotherservicesofBurgerKingintheUnitedStatesandCanadafrom2021to2023(inmillionU.S.dollars)AdexpensesandotherservicesofBurgerKingintheU.S.andCanada2021-2023600500543467433400300200100020212022202319Description:In2023,fastfoodgiantBurgerKingspentapproximately543millionU.S.dollarsonadvertisingandotherservicesintheUnitedStatesandCanada.Thisshowedgrowthovertheprevioustwoyears.Meanwhile,thetotalrevenueofBurgerKingintheU.S.andCanadaalsosawgrowth,reachingaround1.3billionin2023.ReadmoreNote(s):Canada,UnitedStates;2021to2023Source(s):RestaurantBrandsInternationalLeadingTVadvertisersintheUnitedStatesasofSeptember29,2023,byweeklyadvertisingspending(inmillionU.S.dollars)EstimatedweeklyTVadspendofU.S.companiesSeptember2023SpendinginmillionU.S.dollars02468101214GEICOAT&TWirelessT-Mobile11.8610.669.11Ford8.47ProgressiveDomino'sAllstate6.835.845.725.49FanDuelBurgerKingChevrolet5.475.4420Description:GEICOrankedastheleadingTVadvertiserintheUnitedStatesasofSeptember29,2023.Overtheprevioussevendays,roughly11.86milliondollarswereinvestedintelevisionadstopromoteGEICO'sproductsandservices.Inthesameperiod,AT&TWirelessspentaround10.66millionU.S.dollarsonTVadvertising.ReadmoreNote(s):UnitedStates;September29,2023;figuresareestimates;spendingoverthepastsevendaysSource(s):iSpot.tvAmericanCustomerSatisfactionIndexscoresforleadingquickservicerestaurantchainsintheUnitedStatesin2024,byrestaurantbrandAmericanCustomerSatisfactionIndex:QSRsintheU.S.2024,bybrandACSIscore0102030405060708090Chick-fil-AKFCStarbucksArby's838180808080PaneraBreadCulver'sPapaJohn'sAverageDominosPizzaPizzaHutFiveGuysDunkin'79797979787777PandaExpress21Description:ThisstatisticshowstheAmericanCustomerSatisfactionIndex(ACSI)scoresforquickservicerestaurantchainsintheUnitedStatesin2024.InthatyeartheU.S.quickservicerestaurantChick-fil-AreceivedanACSIscoreof83.HowbigistheU.S.QSRindustry?In2023,consumerspendingwithinthequickservicerestaurant(QSR)sectorintheUnitedStatesgrewbynearly30billionU.S.dollarscomparedtothepreviousyear.Thismarkedaconsecutiveyear-over-yearincreasesince2004,with[...]
ReadmoreNote(s):UnitedStates;2023Source(s):ACSI?AmericanCustomerSatisfactionIndexscoresofBurgerKingrestaurantsintheUnitedStatesfrom2000to2024AmericanCustomerSatisfactionIndex:BurgerKingrestaurantsintheU.S.2000-2024787777767676767676767676747270686664626075757574727171706969686867652000
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202422Description:ThisstatisticshowstheAmericanCustomerSatisfactionIndex(ACSI)scoresofBurgerKingrestaurantsintheUnitedStatesfrom2000to2024.BurgerKing'sACSIscorewas77in2024.Thisscorewasonepointhigherthanthepreviousyear.
ReadmoreNote(s):UnitedStates;2000to2024Source(s):ACSI?LeadingrestaurantchainsrankedbybrandawarenessintheUnitedStatesin2023Mostwell-knownrestaurantchainsintheUnitedStates2023Shareofrespondents40%
50%0%10%20%30%60%70%80%90%100%McDonald'sBurgerKingKFC92%92%91%91%90%PizzaHutWendy'sDomino'sPizzaStarbucksSubway89%89%89%TacoBell88%87%86%Dunkin'DonutsApplebee'sChick-fil-APopeyes86%86%23Description:McDonald'sisthemostwell-knownrestaurantchainintheU.S
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