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Janney Montgomery Restaurant Analyst Mark Kalinowski surveys McDonald's (MCD) closely, and has recently published a full "average typical traditional store" McDonalds franchisee income statement. It is attached below via PDF Given the heavy "numbers culture" that is present in the restaurant space, this is interesting to many of us.
Some key statistics from the survey:
Credit to www.burgerbusiness.com.
These numbers show again that franchisee restaurant margins must cover debt service, G&A and CAPEX/remodels and can be a challenge even for a McDonalds model. The average check number is a bit lower than other MCD data I've seen over the years, and there is a variance between company reported and survey franchisee cash flow, which I'll research and comment back here later.
|Janney-McDonalds Income Statement mock.pdf||64.57 KB|