Burger King’s parent company Restaurant Brands International will be increasing its store count globally to more than 40,000. Currently standing at 26,000 stores across the globe, the company aims to reach its goal of 40,000 over the next eight to 10 years. Restaurant Brands International also houses other fast food chains such as Tim Hortons and Popeyes.
According to the company, the global quick service restaurant (QSR) market is expected to grow 5-6% per year for the next five years. Over the past few years, Restaurant Brands International claims to have drove significant growth in its brands, resulting in the expansion of its restaurant base from approximately 12,000 in 2010 to nearly 26,000 as of today.
Jose Cil, chief executive officer of Restaurant Brands International said with three iconic brands, the company has a long runway for growth, locally and globally. “We have a proven history of generating very strong returns for our shareholders and today we are excited to share more insight than we ever have before to support our belief that all three brands have substantial growth ahead,” he added.
Meanwhile, competitor McDonald’s has over 36,000 restaurants. Established in 1955, McDonald’s boasts to have planted stores in over 100 countries. Both Burger King and McDonald’s are highly competitive in the physical and social space.
The banter between Burger King and McDonald’s has been long standing and recently the former took a dig at latter’s Happy Meal by rolling out a set of burgers to express a series of other emotions. As part of its #FeelYourWay campaign, Burger King unveiled an ad saying “No one is happy all the time. And that’s OK” while launching a menu of Blue Meal, Yaaas Meal, Pissed Meal, Salty Meal, and DGAF Meal. However, it copped flak from netizens for “capitalising off” of mental health awareness month and using this opportunity to take a dig at McDonald’s at the same time.