Some big news from McDonald's this morning. The fast-food giant said it plans to invest $8.5 billion over the next decade, including $5 billion by 2030, to help franchisees modernize restaurants to add more technology and improve the way they function. We got an exclusive look at everything the company plans to reveal today at its Investor Day presentation.
The company is about to undertake the biggest training initiative in its history, involving 2 million workers worldwide, on quality improvements and improved hospitality. This is called "Make it Golden," and it is an ongoing process.
Marketing changes will leverage more social media influencers and the company's fans, along with data from its 220 million active loyalty members. It will involve fewer LTOs and fewer "borrowed IP."
McDonald's wants to sell more chicken and beverages and maintain its lead on beef. It is planning quality upgrades to all of it. And yes, the company is expanding its hand-breaded chicken test.
All this will be underpinned by technology, Arch IQ. McDonald's believes the technology and operations improvements will improve efficiency by 250 basis points and cash flow by $100,000 per restaurant.
But it's not cheap. And it's complex. Still, the whole effort is designed to make McDonald's a more frequent destination for its customers while its restaurants operate more efficiently.
I'll have more a bit later on Restaurant Business, but here is a comprehensive look at everything on NRN:
nrn.com/quick-service/inside…