An outlet a day for McDonald's
Source: Bloomberg News |
July 30, 2011, Saturday
|
Print Edition
Print Edition
McDonald's Corp should open an outlet a day in China as it challenges Yum! Brands for dominance in Asia's largest economy as rising salaries boost spending on fast food, a senior executive said yesterday.
"We should be opening a restaurant every day in the next three to four years" in China, Peter Rodwell, company president for Asia, excluding Japan, Australia and New Zealand, said in Singapore. "We're now opening a restaurant every other day."
McDonald's franchised outlets in China may account for as much as 20 percent of the total within six years, Rodwell said, as the hamburger chain aims to increase its stores from 1,300 to 2,000 by 2013. While its website says more than 75 percent of restaurants worldwide are operated by franchisees, only six McDonald's outlets in the world's most-populous nation are franchised, said Vivian Zhang, a Shanghai-based spokeswoman.
"Franchising can be a very effective way to grow in China," said Ben Cavender, an analyst at China Market Research in Shanghai. "It will potentially allow them to accelerate their expansion on the mainland."
McDonald's plans to grow its franchising business, first started in Wuxi, Jiangsu Province, in 2007, as it is "confident about the China market's future," Zhang said. It has three franchisees with two stores each in the provinces of Liaoning, Jiangsu and Zhejiang, she said.
"We should be opening a restaurant every day in the next three to four years" in China, Peter Rodwell, company president for Asia, excluding Japan, Australia and New Zealand, said in Singapore. "We're now opening a restaurant every other day."
McDonald's franchised outlets in China may account for as much as 20 percent of the total within six years, Rodwell said, as the hamburger chain aims to increase its stores from 1,300 to 2,000 by 2013. While its website says more than 75 percent of restaurants worldwide are operated by franchisees, only six McDonald's outlets in the world's most-populous nation are franchised, said Vivian Zhang, a Shanghai-based spokeswoman.
"Franchising can be a very effective way to grow in China," said Ben Cavender, an analyst at China Market Research in Shanghai. "It will potentially allow them to accelerate their expansion on the mainland."
McDonald's plans to grow its franchising business, first started in Wuxi, Jiangsu Province, in 2007, as it is "confident about the China market's future," Zhang said. It has three franchisees with two stores each in the provinces of Liaoning, Jiangsu and Zhejiang, she said.
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