Overview/Methodology
TD Bank polled a select group of owners, operators, and executives of multi-unit restaurant companies—both independent and franchised— at the annual 2018 Restaurant Finance & Development Conference held in Las Vegas, Nevada. The survey was fielded at the event on November 12-14, 2018. A total of 269 individuals were polled.
The 2018 survey included two year-over-year questions from 2017 (questions 1 and 2).
1. Do you own a store/work for a major franchise?
269 total responses were collected for this question. Please find the breakdown below:
a. Yes: 75% (201 respondents)
b. No: 25% (68 respondents)
2. How has mobile ordering influenced the way you think about your restaurant(s)? (Select the answer you agree with the most)
269 total responses were collected for this question. Please find the breakdown below:
a. Mobile ordering could eliminate the need to hire more staff: 7% (20 respondents)
b. Mobile ordering could help expand customer base: 62% (166 respondents)
c. Mobile ordering could reduce staffing costs: 14% (36 respondents)
d. Mobile ordering could speed up the food preparation/cooking/delivery process: 17% (47 respondents)
3. Which of the below best describes your delivery strategy?
269 total responses were collected for this question. Please find the breakdown below:
a. Third party delivery (i.e. Grubhub, Postmates, UberEats, etc.): 60% (162 respondents)
b. In-house delivery: 18% (48 respondents)
c. We don’t have a delivery strategy, but plan to implement one: 12% (33 respondents)
d. We don’t have a delivery strategy and have no plans to implement one: 10% (26 respondents)
4. What is the impact of your franchise’s value meal program?
269 total responses were collected for this question. Please find the breakdown below:
a. It is boosting revenue, offsetting the lower margin on value meals: 15% (39 respondents)
b. It is boosting revenue, but hurting overall margins: 22% (59 respondents)
c. It is increasing foot traffic / customer base: 20% (54 respondents)
d. It is decreasing revenue, and I would prefer we did not have a program 3% (8 respondents)
e. We do not have a value meal program, but plan on implementing one: 8% (22 respondents)
f. We do not have a value meal program, and do not plan to implement one: 32% (87 respondents)
5. Do you feel pressured to grow your business? If so, what avenues of financing are you considering?
269 total responses were collected for this question. Please find the breakdown below:
a. Yes; Line of credit: 16% (43 respondents)
b. Yes; Bank loan: 23% (63 respondents)
c. Yes; Personal loan: 2% (6 respondents)
d. Yes; Other: 30% (79 respondents)
e. We do not feel pressured to grow by units: 29% (78 respondents)
6. Which areas are you planning on investing in the most in 2019? (select all that apply)
269 total responses were collected for this question. Please find the breakdown below:
a. Store reimaging or remodel: 57% (154 respondents)
b. Environmentally friendly initiatives (i.e. paper straws, utensils, delivery, packaging, etc.): 9% (26 respondents)
c. Mobile ordering (i.e. real-time tracking, placing order to go, etc.): 42% (114 respondents)
d. Delivery service (i.e. Grubhub, Postmates, etc.): 33% (89 respondents)
e. Technology such as a new POS, digital signage or other in-store tech: 49% (131 respondents)
f. Other: 14% (39 respondents)