The quick-service restaurant industry is built on the delivery of food—and data. The former is obvious, complemented by the physical layout and the queue of customers, standing or seated, waiting, respectively, to place their orders or receive their meals.
At Zaxby’s annual convention in San Diego last April, there was plenty of celebration for the chicken-peddling chain, its franchisees, and vendors, highlighted by a private concert from country music superstar Tim McGraw.Amid the festive atmosphere, however, there was also much reflection.
Equity relationships are intended to be mutually beneficial, with the brands and their private equity (PE) partners both contributing—and both reaping the rewards. But brands may not know what to expect from the partnership as it matures.
You would be hard pressed to find a quick-service operator who, when asked why they started their own business, answered by saying it was to become the CIO of the company.