The Plan to Save McDonald’s
The legendary fast food eatery is on the ropes but has plans to swing back
(Blythe Walcott for HERZ)
McDonald’s is easily the most profitable and famous fast food chain in the history of planet earth (data shows Kentucky Fried Chicken in a comfortable second place, owing largely to its popularity in China). But according to leading financial experts, McDonald’s is also in big trouble.
Lower income customers are deserting McDonald’s in droves.
But McDonald’s CEO Chris Kempczinski is on record saying not only that inflation has forced the iconic eatery to raise prices — but the demand for a higher minimum wage in key states like California (where fast food workers must be paid $20 per hour) has also driven up the cost of the franchise’s operation.
A recent study showed that McDonald’s menu prices have increased a staggering 100% over the last decade (which is actually three times higher than the U.S. rate of inflation).
The study showed that a Quarter Pounder with Cheese meal (costing $5.39 in 2014) now costs $11.99 on average nationwide. The iconic Big Mac served as a meal can cost up to $18 in many places.
McDonald’s representatives, however, have been actively pushing back on these numbers…
