It's no secret that Chick-fil-A has been pecking away at the market share of other fast food chains at an increasing rate, but new d...
It's no secret that Chick-fil-A has been pecking away at the market share of other fast food chains at an increasing rate, but new data reveals just how much of a cash cow the chicken chain really is.
Analysis released by Goldman Sachs this week shows Chick-fil-A generates more than double the revenue of No. 1 fast food franchise McDonald's per restaurant, even though its restaurants are closed on Sundays.
What are the details?
"Our brand survey shows Chick-fil-A has had the most brand momentum across quick-service restaurants, supporting the most increase in total revenue (in dollar terms) in the U.S.," the Goldman report said, according to MarketWatch. "In fact, despite being open only six days a week, Chick-fil-A's AUVs [average unit volumes] are more than two times McDonald's."
Business Insider reported that the Atlanta-based franchise "has grown rapidly over the last decade and now ranks as the fifth largest fast-food company in the U.S. in terms of market share," and shows no signs of stopping.
The investment analysts at Goldman also issued a warning in their report, writing, "Steer clear from those in the fray of Chick-fil-A. Our 2,000 consumer brand survey suggests they will continue to take share and grow."
Competitors at most risk of losing customers to Chick-fil-A include Jack-in-the-Box, KFC, Popeyes, and Wendy's.
Business Insider further noted that the number of Chick-fil-A locations grew by almost 8 percent in 2018, in stark contrast to rival KFC, which "closed more than 1 percent of its locations in the U.S."
Anything else?
In further rosy news for Chick-fil-A, it has now been crowned America's favorite fast food restaurant. CBS News reported Thursday that Chick-fil-A took the top spot, dethroning In-N-Out, in a survey of 7,600 consumers conducted by Market Force.
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