McDonald’s is in a “deep depression” and could be facing its “final days,” according to a new survey.
“We are in the throes of a deep depression, and nothing is changing,” one franchise wrote in a response to the survey by analyst Mark Kalinowski. “Probably 30% of operators are insolvent.”
“The CEO is sowing the seeds of our demise. We are a quick-serve fast-food restaurant, not a fast casual like Five Guys or Chipotle. The system may be facing its final days,” said another.
More than a dozen franchises expressed frustration with McDonald’s management, saying that CEO Steve Easterbrook’s turnaround plan is a distraction from the core issues of McDonald’s, like food quality and customer service.
McDonald’s has tried nearly everything to revive business – from all-day breakfast, a create your own taste menu, toasting buns longer, making its beef patties larger and also has announced plans to remove antibiotics from its chicken. But it seems none of this is working.
Franchises operate 81% of McDonald’s restaurants globally, just within a year McDonald’s have closed almost 18% of its Franchises.
More than 250 restaurants, were interviewed and asked to five their six-month forecast from 1 (bad) to 5 (excellent). The average score was 1.69, the lowest ever since the survey began 12 years ago.