Franchising follows consumer preferences: from technology to ESG
Wall Street tells us more about ourselves than we maybe really want to know. The pandemic has challenged and brought out the best in dining, and especially fast food restaurants. The changes do not only concern consumer preferences, but also the legal structure. In order to meet customer demands, not only the customer experience had to change, but also the capital structures had to change. Restaurant chains are looking for more and acting more, like technology companies. This seems to be the formula today for raising the funds necessary to manage and develop a restaurant chain. Let’s look at how consumer tastes drive Wall Street preferences.
The reality of restaurant management
Every restaurant has staff shortages. The “big resignation” over COVID-19 concerns may be affecting restaurants more than any other industry. Catering workers are looking for higher wages and better working conditions. Unions seek to organize trademark workers and push for legal changes to the labor law environment to achieve these goals. The demand for a higher minimum wage is scaring restaurants, many of which suffered during the pandemic, while other restaurants have exceeded expectations. Consumers are finicky and want the customer experience and food quality despite the management challenges in the work environment.