All articles tagged with #franchise operators
Verizon plans a restructuring that includes selling 274 company-owned retail stores and cutting about 500 corporate jobs, affecting around 3,000 retail and corporate workers; after the sales, Verizon will own roughly 1,000 stores, with the deals taking effect on August 16.
McDonald's is increasing its royalty fee for new franchise operators in the US and Canada from 4% to 5% starting January 1, 2022. The change aims to align the North American market with the international market and better reflect the brand's value. The term "service fee" will be replaced with "royalty" to reduce confusion. McDonald's estimates that the change will initially impact a small number of restaurants but will apply to more over time. Franchise operators pay the royalty fee for using the McDonald's brand and accessing its expertise.
McDonald's is increasing the royalty fees for new franchise operators in the United States and Canada from 4% to 5%, starting January 1, 2023. This is the first time in nearly three decades that the fast-food giant has raised these fees. The change will not affect existing franchisees or those who buy franchised locations from other operators. The revised rate aims to maintain McDonald's competitive edge and support independent small business owners. McDonald's operates over 13,000 locations in the United States, with franchisees making up nearly 30% of its total revenue in 2022.