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Company > Carrols Restaurant Group Inc: Business Model, SWOT Analysis, and Competitors 2024

Carrols Restaurant Group Inc: Business Model, SWOT Analysis, and Competitors 2024

Published: Feb 29, 2024

Inside This Article


    In this comprehensive exploration of Carrols Restaurant Group Inc, we delve into the intricacies of its business model, conduct an in-depth SWOT analysis, and evaluate its standing among competitors as we move into 2024. As one of the largest restaurant franchisees in the United States, Carrols Restaurant Group has navigated a rapidly changing fast-food landscape. This article aims to uncover the strategies that have fueled its growth, identify the challenges it faces, and assess its competitive edge in a fiercely competitive market. Through examining its operational tactics, financial health, and market position, we'll provide a holistic view of Carrols Restaurant Group's current status and future prospects.

    What You Will Learn

    • Ownership and Vision: Discover who owns Carrols Restaurant Group Inc and understand the core mission that drives their operations, guiding their decision-making and strategic direction.
    • Revenue Streams and Business Strategy: Gain insights into how Carrols Restaurant Group Inc generates its income, including an in-depth look at their Business Model Canvas to comprehend their operational framework and strategic positioning.
    • Market Position and Analysis: Learn about Carrols Restaurant Group Inc's main competitors, and delve into a comprehensive SWOT analysis to understand their strengths, weaknesses, opportunities, and threats in the fast-food industry.

    Who owns Carrols Restaurant Group Inc?

    Who Owns Carrols Restaurant Group Inc?

    Ownership of Carrols Restaurant Group Inc., a significant player in the fast-food industry, is a matter of both public and private interest given its size and influence in the market. As a publicly traded company listed on the NASDAQ under the ticker symbol TAST, its ownership is distributed among various shareholders that include individual investors, institutional investors, and company insiders.

    Institutional Investors

    A substantial portion of Carrols Restaurant Group Inc. is owned by institutional investors. These are entities such as mutual funds, pension funds, and investment firms that manage large pools of money. They often hold significant stakes in public companies, giving them a considerable influence over corporate decisions. Some of the leading institutional investors in Carrols Restaurant Group Inc. include large asset management firms and investment banks, which is common for companies of Carrols' size and market presence.

    Individual Investors

    Apart from institutional investors, individual investors also own shares in Carrols Restaurant Group Inc. These can range from high-net-worth individuals to everyday retail investors who buy stocks through brokerages. Individual investors play a crucial role in the market dynamics of a company's stock, contributing to its liquidity and price movements. Their investment decisions can be influenced by a variety of factors, including the company's performance, market trends, and economic conditions.

    Company Insiders

    Another important group of owners includes company insiders, such as executives, board members, and other key employees. These individuals often have a deeper insight into the company's operations, strategies, and future prospects. Insider ownership is generally viewed positively as it indicates that those with the most intimate knowledge of the company have confidence in its future. However, insider transactions are closely monitored to prevent insider trading based on undisclosed material information.

    Public Ownership

    Since Carrols Restaurant Group Inc. is publicly traded, its shares are available for purchase by the general public. This means that anyone with a brokerage account can invest in the company, making public investors an essential part of the ownership structure. Public ownership increases a company's capital, allowing it to invest in growth opportunities, and provides liquidity to the market, enabling investors to buy and sell shares freely.

    In summary, Carrols Restaurant Group Inc. is owned by a mix of institutional investors, individual investors, company insiders, and the general public. This diverse ownership structure reflects the company's standing in the public market, with various stakeholders having a vested interest in its success and growth.

    What is the mission statement of Carrols Restaurant Group Inc?

    Carrols Restaurant Group Inc., as a leading entity in the fast-food sector, operates with a clear and strategic mission statement that guides its operations, corporate philosophy, and business goals. While the company's specific wording of its mission statement may evolve over time, the core essence revolves around delivering exceptional value, quality service, and continuous innovation to its customers while fostering a supportive and growth-oriented environment for its employees.

    The Core of Carrols' Mission

    At its heart, Carrols Restaurant Group Inc.'s mission focuses on:

    1. Customer Satisfaction: Prioritizing the dining experience of each customer, Carrols aims to ensure high-quality food, excellent service, and a welcoming atmosphere across all its locations. Recognizing that satisfied customers are the backbone of their success, they continually strive to meet and exceed customer expectations.

    2. Employee Growth and Satisfaction: Carrols understands that a motivated, well-trained, and satisfied workforce is essential for delivering the level of service that customers expect. Therefore, the company commits to providing ample opportunities for employee growth, development, and recognition, fostering a work environment where team members feel valued and part of a larger family.

    3. Innovation and Efficiency: In a fast-paced industry, staying ahead means continually innovating and improving. Carrols Restaurant Group Inc. is dedicated to leveraging technology and creative strategies to enhance operational efficiency, improve the customer experience, and ensure sustainability in its practices.

    4. Community and Responsibility: Beyond serving delicious meals, Carrols sees itself as a responsible community member. This involves engaging in practices that are environmentally sustainable, contributing to local communities, and ensuring that the company operates ethically and transparently.

    Bridging Goals with Action

    Carrols Restaurant Group Inc. not only articulates these values in its mission statement but actively works to embody them in its daily operations. Whether it's through the introduction of new menu items to meet diverse customer preferences, implementing training programs for employee advancement, adopting green practices to reduce environmental impact, or supporting local causes, Carrols demonstrates a commitment to its mission in tangible ways.

    In essence, the mission statement of Carrols Restaurant Group Inc. serves as both a compass and a benchmark. It outlines what the company stands for and sets clear objectives for what it aims to achieve. By aligning its strategies and actions with this mission, Carrols strives to sustain its position as a leader in the fast-food industry, while making a positive impact on the lives of its customers, employees, and the broader community.

    How does Carrols Restaurant Group Inc make money?

    How does Carrols Restaurant Group Inc make money?

    Carrols Restaurant Group Inc, as a prominent player in the fast-food industry, primarily generates its revenue through the operation of its fast-food restaurants. The company, known for being one of the largest restaurant franchisees in the United States, makes money through several key avenues that are characteristic of the fast-food sector. Below, we delve into the primary revenue streams for Carrols Restaurant Group Inc.

    Franchisee Operations

    The backbone of Carrols Restaurant Group's revenue generation comes from its role as a franchisee of major fast-food brands. The company owns and operates numerous restaurants under well-known brand names, with Burger King being a notable example. As a franchisee, Carrols pays a franchise fee to the parent company in exchange for the rights to use the brand, its operational systems, and marketing support. The revenue generated from the sales at these restaurants minus the operational costs, including the franchise fees, constitutes the profit for Carrols.

    Sales Revenue

    A significant portion of Carrols Restaurant Group's income is derived directly from sales revenue. This includes income from food and beverage sales in its restaurants. The company employs strategies to increase sales volume and transaction sizes, such as menu innovation, limited-time offers, and promotional pricing. Additionally, Carrols focuses on improving customer service and restaurant ambiance to enhance the dining experience and attract more customers, which in turn, boosts sales revenue.

    Digital and Delivery Sales

    In recent years, digital sales and delivery services have emerged as a vital revenue stream for Carrols Restaurant Group. The company has invested in online ordering platforms, mobile apps, and partnerships with third-party delivery services to cater to the growing demand for convenience and contactless transactions. This segment has shown rapid growth, especially in the wake of the COVID-19 pandemic, as consumers have increasingly turned to delivery and takeaway options.

    Ancillary Revenue Streams

    Beyond the traditional revenue streams, Carrols Restaurant Group also explores ancillary opportunities to bolster its income. This includes revenue from the sale of merchandise, licensing deals, and potentially the sale of property and equipment. While these sources may not constitute a significant portion of the company's overall revenue, they contribute to diversifying income streams and maximizing profitability.

    In summary, Carrols Restaurant Group Inc makes money through a combination of franchisee operations, direct sales revenue, digital and delivery sales, and ancillary revenue streams. The company's strategic focus on operational efficiency, marketing, and customer service plays a crucial role in optimizing these revenue streams and sustaining profitability in the competitive fast-food industry landscape.

    Carrols Restaurant Group Inc Business Model Canvas Explained

    Carrols Restaurant Group Inc, a significant player in the fast-food industry, operates on a comprehensive and multifaceted business model. As one of the largest Burger King franchisees in the United States, understanding its business model canvas offers insights into its operational strategy, value proposition, and how it maintains competitive advantage in the fast-food market. Below, we delve into the key components of Carrols Restaurant Group Inc's business model canvas.

    Key Partners

    Carrols Restaurant Group Inc's key partners primarily include Burger King Corporation, from whom they franchise the majority of their restaurants. This partnership allows them access to a globally recognized brand, operational support, and marketing strategies. Additionally, they work closely with suppliers, marketing agencies, and technology providers to ensure smooth operations and innovative customer engagement strategies.

    Key Activities

    The key activities of Carrols Restaurant Group Inc involve restaurant operations, marketing, and customer service. Managing the day-to-day operations of each restaurant, ensuring high-quality food production, and maintaining customer satisfaction are critical. Moreover, they focus on local marketing initiatives and leverage digital platforms to engage with customers and promote their offerings.

    Key Resources

    Carrols Restaurant Group Inc's key resources include its portfolio of Burger King restaurants, a well-trained workforce, and a robust supply chain. Their physical locations are strategically selected to maximize foot traffic and sales. Additionally, their investments in technology for operations management and customer service platforms are vital resources for efficiency and engagement.

    Value Propositions

    The primary value proposition offered by Carrols Restaurant Group Inc is providing quick-service, high-quality, and affordable meals to customers. Leveraging the Burger King brand, they promise consistency in taste and experience across all locations. Their focus on customer service and local community engagement adds a layer of personalization to their value offer.

    Customer Relationships

    Carrols Restaurant Group Inc maintains its customer relationships through excellent in-store service, participation in community events, and active social media engagement. They also offer loyalty programs and promotional deals, enhancing customer retention and encouraging repeat visits.


    The company utilizes various channels to reach its customers, including physical restaurant locations, online ordering platforms, and delivery service partnerships. Their omnichannel approach ensures convenience for customers, catering to their preferences for dine-in, takeout, or delivery.

    Customer Segments

    Carrols Restaurant Group Inc targets a broad customer segment that includes fast-food lovers of all ages, with a focus on families, young adults, and working professionals looking for quick and affordable meal options. Their extensive menu caters to diverse tastes and dietary preferences.

    Cost Structure

    The cost structure of Carrols Restaurant Group Inc includes operational costs such as labor, food ingredients, rent, and franchise fees. Marketing and technology investments also constitute significant portions of their expenses. They strive to manage these costs efficiently to maintain profitability and competitive pricing.

    Revenue Streams

    Carrols Restaurant Group Inc generates its revenue through sales of food and beverages in its Burger King restaurants. Additional revenue streams include promotional deals, loyalty programs, and potentially, franchising fees for operating under the Burger King brand.

    Understanding the business model canvas of Carrols Restaurant Group Inc reveals a strategic approach to leveraging a strong brand, optimizing operations, and focusing on customer satisfaction to navigate the competitive fast-food landscape. Their model emphasizes the importance of partnerships, operational efficiency, and community engagement in driving success in the restaurant industry.

    Which companies are the competitors of Carrols Restaurant Group Inc?

    Carrols Restaurant Group Inc, primarily known for being one of the largest Burger King franchisees in the United States, operates in a fast-paced, competitive fast-food industry. The company's competitors range from direct franchise competitors to broader participants in the quick-service restaurant (QSR) sector. Here, we explore some of the key competitors that Carrols Restaurant Group Inc faces in the market.

    Major Direct Competitors

    McDonald's Corporation

    McDonald's stands as a colossal competitor, not just for Carrols Restaurant Group but for any entity in the fast-food industry. With its global presence, extensive menu, and strong brand recognition, McDonald's competes directly with Burger King, and hence Carrols, for market share, especially in the burger and fast-food segment.


    Another significant competitor, Wendy's, offers a menu that closely competes with Burger King's offerings, including hamburgers, chicken sandwiches, and salads. Wendy's focus on fresh, never frozen beef, and unique items like the Frosty, positions it as a strong competitor in the QSR sector.

    YUM! Brands Inc.

    YUM! Brands, the parent company of Taco Bell, KFC, and Pizza Hut, competes with Carrols Restaurant Group through its vast array of food offerings that appeal to a broad customer base. With a strong global presence and a diverse menu that spans different cuisines, YUM! Brands represents a formidable competitor.

    Indirect Competitors

    Starbucks Corporation

    While primarily known for its coffee, Starbucks has expanded its menu to include food items that compete in the breakfast and lunch segments. Their expansive global network and strong brand loyalty pose a competitive threat to Carrols Restaurant Group, especially in the morning sales segment.

    Chipotle Mexican Grill

    Chipotle offers a fresh, customizable approach to fast-casual dining, attracting a demographic that values quality ingredients and healthier options. This positions Chipotle as an indirect competitor, particularly as consumer preferences shift towards healthier dining options.


    As one of the largest fast-food chains globally, Subway competes by offering a healthier alternative to traditional fast food with its focus on sandwiches and salads. Their vast number of locations and emphasis on customization and health-conscious options attract a segment of the market that might otherwise visit Burger King locations operated by Carrols.

    Emerging Competitors

    In addition to these established players, Carrols Restaurant Group must keep an eye on emerging competitors in the fast-food and fast-casual sectors. New chains and independent restaurants focusing on innovation, sustainability, and digital engagement are continually entering the market. These include brands that specialize in plant-based menus, digital-first ordering, and sustainable practices, appealing to younger consumers and those looking for alternatives to traditional fast food.


    Carrols Restaurant Group Inc operates in a highly competitive landscape, facing challenges from both direct and indirect competitors across the fast-food and fast-casual sectors. Adapting to changing consumer preferences, leveraging technology for better customer experiences, and differentiating its offerings are crucial strategies for staying competitive in this dynamic industry.

    Carrols Restaurant Group Inc SWOT Analysis


    In the fast-paced world of the restaurant industry, Carrols Restaurant Group Inc stands out as a significant player. Known for being one of the largest Burger King franchisees in the United States, Carrols Restaurant Group has carved out a niche for itself. However, like any company, it faces a unique set of opportunities and challenges. To better understand its position, a SWOT analysis – evaluating its Strengths, Weaknesses, Opportunities, and Threats – provides invaluable insights. Let's delve into the SWOT analysis of Carrols Restaurant Group Inc to grasp its current standing and future prospects.


    1. Strong Market Presence: Carrols Restaurant Group Inc operates a vast network of Burger King restaurants, showcasing its robust presence in the fast-food industry. This extensive footprint allows it to reach a wide customer base, boosting its brand recognition and market share.
    2. Experienced Management Team: With years of industry experience, the management team at Carrols Restaurant Group Inc is well-equipped to navigate the complexities of the restaurant business. Their expertise is a critical asset in strategic planning and operational efficiency.
    3. Economies of Scale: Due to its size and operational volume, Carrols Restaurant Group benefits from economies of scale. This allows the company to negotiate better terms with suppliers, reduce costs, and improve its overall profitability.


    1. Dependence on Burger King: A significant portion of Carrols Restaurant Group's revenue comes from its Burger King franchises. This heavy reliance on a single brand makes it vulnerable to any negative changes in Burger King's business strategy or brand reputation.
    2. Operational Challenges: Managing a vast network of restaurants is inherently challenging. Issues such as labor shortages, fluctuating food costs, and maintaining consistent service quality across all locations can strain the company's resources and affect its profitability.
    3. Limited Diversification: The company's focus on primarily operating Burger King restaurants means it has limited diversification. This could be a disadvantage in adapting to changing market trends or consumer preferences that favor other types of dining experiences.


    1. Expansion into New Markets: Carrols Restaurant Group Inc has the opportunity to expand its operations into new geographical areas. By entering untapped markets, the company can grow its customer base and increase its revenues.
    2. Diversification of Portfolio: Venturing into other restaurant concepts or acquiring different franchises could diversify Carrols Restaurant Group's portfolio. This would not only reduce its reliance on Burger King but also allow it to cater to a broader range of consumer tastes.
    3. Leveraging Technology: Investing in technology for better customer experience, such as mobile ordering, digital payments, and delivery services, can enhance convenience for customers. This could lead to increased sales and customer loyalty.


    1. Intense Competition: The fast-food industry is highly competitive, with numerous players vying for customer attention. Carrols Restaurant Group Inc faces stiff competition from other franchises and independent restaurants, which could impact its market share.
    2. Economic Fluctuations: Economic downturns can significantly affect consumer spending habits, particularly in the discretionary spending category which includes dining out. This poses a threat to Carrols Restaurant Group's revenue and profitability.
    3. Regulatory Challenges: The restaurant industry is subject to various regulations, including labor laws, health and safety standards, and food quality regulations. Compliance with these evolving regulations can be costly and time-consuming for Carrols Restaurant Group Inc.


    The SWOT analysis of Carrols Restaurant Group Inc reveals a company with solid strengths and promising opportunities that can fuel its growth. However, it also faces significant weaknesses and threats that cannot be ignored. By strategically leveraging its strengths and opportunities while addressing its weaknesses and mitigating threats, Carrols Restaurant Group Inc can continue to thrive in the competitive landscape of the fast-food industry.

    Key Takeaways

    • Carrols Restaurant Group Inc is primarily owned by institutional investors, with a fluctuating list of top shareholders that may include investment firms, mutual funds, and other large financial entities, reflecting its status as a publicly-traded company on the NASDAQ under the ticker symbol TAST.
    • The mission statement of Carrols Restaurant Group Inc focuses on commitment to excellence in the fast-food industry, striving to deliver high-quality food, exceptional service, and great value to its customers while fostering a positive work environment for its employees.
    • Carrols Restaurant Group Inc generates revenue through its operation of Burger King and Popeyes Louisiana Kitchen restaurants. As one of the largest Burger King franchisees in the United States, its income streams include sales from food and beverage products, franchise royalties, and fees.
    • The Business Model Canvas for Carrols Restaurant Group Inc highlights its key partners (such as Burger King and Popeyes), key activities (operating quick-service restaurants), value propositions (offering quick, affordable, and tasty meals), customer relationships (focused on customer satisfaction and loyalty programs), and revenue streams (primarily from sales and franchise agreements), among other aspects.
    • Competitors of Carrols Restaurant Group Inc include other large franchise operators and owners of quick-service restaurant chains, such as NPC International, Inc., Arcos Dorados, and Yum! Brands, Inc. These companies compete in the fast-food market by offering similar products and services, though they may differ in terms of size, geographic reach, and brand affiliations.
    • The SWOT Analysis of Carrols Restaurant Group Inc reveals its strengths (such as strong brand association with Burger King and efficient operational practices), opportunities (including potential market expansion and menu innovation), weaknesses (like reliance on specific brands and market segments), and threats (such as intense competition and changing consumer preferences toward healthier eating options).


    In conclusion, Carrols Restaurant Group Inc., as a distinguished entity in the fast-food industry, stands on solid ground with a clear sense of direction and ownership. Owned by its shareholders and managed by a dedicated team of professionals, Carrols operates with a mission to deliver superior quality food, customer service, and value to its diners. This mission drives its revenue model, primarily through the sales of its diverse menu items across numerous Burger King and Popeyes locations.

    Delving into its business model canvas, Carrols Restaurant Group Inc. showcases a robust structure that emphasizes key partnerships, cost-efficient operations, and a strong customer relationship framework. This strategic approach not only facilitates its financial growth but also enhances its competitive edge in the saturated fast-food market. Speaking of competition, Carrols faces stiff rivalry from giants like McDonald's, Wendy's, and Yum! Brands, necessitating continuous innovation and adaptation to maintain its market position.

    A SWOT analysis of Carrols Restaurant Group Inc. reveals a company that, despite its strengths and opportunities, must navigate challenges and external threats with agility and foresight. Its strengths lie in its established market presence and operational efficiency, while its opportunities are rooted in potential market expansion and menu innovation. However, challenges such as fluctuating food prices and the threat of new entrants or shifts in consumer preferences necessitate a proactive and strategic response.

    Ultimately, Carrols Restaurant Group Inc. embodies a blend of strategic foresight, operational excellence, and a commitment to quality and value. As the company continues to navigate the complexities of the fast-food industry, its focus on leveraging its strengths, seizing new opportunities, and addressing its challenges will be crucial. By doing so, Carrols is well-positioned to continue its trajectory of growth, innovation, and customer satisfaction in the competitive landscape.


    What is a SWOT analysis of a restaurant?

    A SWOT analysis of a restaurant involves identifying its strengths, weaknesses, opportunities, and threats. This analysis can help the restaurant management team make informed decisions, develop strategies, and improve overall performance.


    1. Location: A prime location with high foot traffic can attract more customers.
    2. Reputation: Positive reviews, word-of-mouth recommendations, and loyal customer base can contribute to the restaurant's success.
    3. Unique menu offerings: Specialized cuisine, signature dishes, and innovative recipes can set the restaurant apart from competitors.
    4. Strong team: A skilled and motivated staff can provide excellent customer service and ensure smooth operations.
    5. Marketing efforts: Effective marketing strategies, social media presence, and promotions can attract new customers and retain existing ones.


    1. Limited resources: Budget constraints, lack of capital, and limited staff can hinder the restaurant's growth and expansion.
    2. Inconsistent quality: Fluctuating food quality, service standards, and customer experience can lead to negative reviews and loss of customers.
    3. Competition: High competition in the market, nearby restaurants, and changing consumer preferences can affect the restaurant's performance.
    4. Operational inefficiencies: Poor inventory management, slow service, and lack of training can lead to customer dissatisfaction and decreased revenue.
    5. Negative reviews: Bad reviews, complaints, and negative feedback on social media platforms can damage the restaurant's reputation and credibility.


    1. Market expansion: Opening new locations, catering services, delivery options, and online ordering can increase revenue and reach a broader customer base.
    2. Menu innovation: Introducing new dishes, seasonal specials, and healthy options can attract more customers and keep them coming back.
    3. Partnerships: Collaborating with local suppliers, food vendors, and organizations can create unique opportunities for promotion and growth.
    4. Technology integration: Implementing online reservation systems, mobile apps, and digital marketing strategies can enhance customer experience and streamline operations.
    5. Events and promotions: Hosting events, themed nights, and special promotions can attract new customers, increase brand awareness, and drive sales.


    1. Economic downturn: Economic instability, inflation, and changing consumer spending habits can impact the restaurant's revenue and profitability.
    2. Health and safety concerns: Foodborne illnesses, sanitation issues, and compliance with health regulations can damage the restaurant's reputation and lead to legal consequences.
    3. Rising costs: Increasing food prices, labor costs, rent, and utilities can affect the restaurant's bottom line and profitability.
    4. External factors: Natural disasters, political instability, and global pandemics can disrupt operations, supply chain, and customer demand.
    5. Changing trends: Shifts in consumer preferences, dietary restrictions, and cultural influences can require the restaurant to adapt and stay relevant in the market.

    How can I find a SWOT analysis on a company?

    There are several ways to find a SWOT analysis on a company:

    1. Company websites: Many companies publish their own SWOT analyses on their websites as part of their annual reports, investor presentations, or corporate social responsibility reports.

    2. Business news websites: Websites such as Bloomberg, Reuters, and Forbes often publish SWOT analyses of companies as part of their coverage of the business world.

    3. Market research reports: Companies such as MarketResearch.com, IBISWorld, and Statista often publish SWOT analyses as part of their industry reports. These reports can usually be purchased or accessed through a subscription.

    4. Academic databases: Universities and research institutions often publish SWOT analyses as part of their academic research. You can search for these analyses through academic databases such as JSTOR, ProQuest, and Google Scholar.

    5. Consulting firms: Consulting firms such as McKinsey, Bain & Company, and Boston Consulting Group often publish SWOT analyses as part of their client reports. These reports may be available for purchase or access through a subscription.

    6. Online search: You can also try conducting a simple online search using the company name followed by "SWOT analysis" to see if any relevant results come up.

    What is a SWOT analysis for a group?

    A SWOT analysis for a group involves analyzing the group's strengths, weaknesses, opportunities, and threats. This analysis helps the group to understand its internal capabilities and external environment, which can be used to develop strategies for achieving its goals.

    Strengths: These are the positive attributes of the group, such as its skilled members, strong leadership, good communication, and resources.

    Weaknesses: These are the areas where the group may be lacking, such as poor decision-making processes, lack of resources, or communication barriers.

    Opportunities: These are external factors that the group could take advantage of, such as new partnerships, funding opportunities, or emerging trends in their field.

    Threats: These are external factors that could potentially harm the group, such as increased competition, changes in regulations, or economic downturns.

    By conducting a SWOT analysis, a group can identify areas for improvement, capitalize on opportunities, and mitigate potential threats, ultimately leading to more effective decision-making and goal achievement.

    Who are carrols restaurant group competitors?

    Some of Carrols Restaurant Group's competitors include:

    1. McDonald's Corporation
    2. Burger King (owned by Restaurant Brands International)
    3. Wendy's Company
    4. Yum! Brands (owns Taco Bell, KFC, and Pizza Hut)
    5. Sonic Drive-In
    6. Jack in the Box
    7. Five Guys Burgers and Fries
    8. Chick-fil-A
    9. In-N-Out Burger
    10. Shake Shack

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