No doubt you’ve heard about Shake Shack’s successful IPO and its $1.7 billion valuation. The burger stand that started in New York’s Madison Square Park and now has locations in places like Moscow, Istanbul, and Dubai has had a very big year.
Olo, the leading provider of online and mobile ordering capabilities for the restaurant industry, has appointed world-renowned restaurateur Danny Meyer to its board of directors. Meyer brings a wealth of industry experience to Olo, most notably as founder and CEO of Union Square Hospitality Group, where he is responsible for overseeing the strategic direction of the company’s portfolio of restaurant brands.
After outperforming Wall Street the past few years, the stock prices of restaurant companies with quick-service concepts finished a bit worse than the overall market in 2014.
Slightly more than half of limited-service dining companies’ stocks were bested by the Standard & Poor’s 500 index last year. A dozen companies, including quick-service giants McDonald’s and Yum! Brands, saw their equity prices decline during the period. The S&P 500 gained 11.4 percent, but its restaurant sector index rose just 4.3 percent.
Shake Shack Inc. announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its Class A common stock. The registration statement represents Shake Shack’s initial public filing pursuant to the provisions of the Jumpstart our Business Startups (JOBS) Act of 2012. The number of shares to be offered and the price range for the proposed offering have not yet been determined.
It’s that time of year. Time to look back and reflect upon the brand developments in quick service from the past year—from the surprising to the exciting and the defining—that seemed most important. Innovation and growth are a couple of the common themes among the top fast-food brand stories of 2014.
The story of the future of the foodservice industry starts with a man, a man who trained to become a chef, a chef who wanted to do things differently. Or maybe it was that all he could afford to do was something different. But in his first restaurant, different is what he did: different service format, different ingredients, different sourcing partners, different idea of what was possible outside of the fine-dining arena.
Q: What does it take for a quick-service brand to become a great brand?
A: I get this question all the time. Many people look at superstar brands like Apple, Southwest Airlines, and Nike and mistakenly conclude those companies achieved their successes as a result of good timing, great advertising, or just plain luck. But I’ve found that these companies have employed specific, somewhat surprising, techniques that have turned them into industry icons.
While the obesity epidemic has received a lot of attention in the U.S., hunger, particularly childhood hunger, is a serious problem that tends to be less understood by the American masses. More than 16 million kids (one in five) in the U.S. do not have access to the food they need, according to hunger-relief charity Feeding America.
But in the last few years, restaurants have become a powerful tool in the fight against hunger, and several programs are capitalizing on foodservice partners—including quick-serve restaurants—to bring food to those in need.
Miles removed from the nearest highway, shopping mall, and chain restaurant—or any restaurant at all—lie 40,000 acres of forest, meadows, and pastures, home to wildlife of all sorts and 1,400 head of Red Angus cattle. The herd, property of Meyer Company Ranch, roam free under the big sky of Montana, munching on grass and mineral supplements, moving leisurely from one field to the next to avoid over-grazing. Rounded up by real-life cowboys just one day a year for vaccines—not antibiotics, not hormones—the cattle have little reason to stress.
NCR Corporation announced that Shake Shack has implemented the NCR Pulse Real-Time smartphone application, joining the 5,500 others already using the app.
Available for iOS and Android devices, NCR Pulse Real-Time is a SaaS-based mobile analytics engine that helps restaurant operators solve the everyday challenges of low visibility into current operational performance, lack of predictable data, and inability to be in several places simultaneously.