Fast food is good business in a down economy
It is not unusual for some families to eat fast food several times per week. Those with busy schedules that include work and after-school activities often grab fast food meals on the way to activities. Fast food is also the substance of many lunches for those who work. In a down economy, some people may find fast food to be a better deal than preparing food at home, especially with the number of restaurants with "dollar" menus.
Families Eat More Meals Away from Home
Gone are the days when families ate out once a week or on special occasions such as birthdays. Some families eat out several times a week, and single adults may find it cheaper to eat out than to cook at home. "Dollar menus" and other promotions make it possible for consumers to get more food for less money. Research by USDA and other groups indicates that families in the United States spend about half of their food budgets on meals prepared away from home. This makes expansion of fast food outlets lucrative those who own franchises.
Fast Food is Convenient
At the end of a busy day, parents who work outside the home often find fast food a convenient alternative to cooking at home. There are no worries about menu planning or concerns about whether the family will enjoy the food, since fast food menus generally have something that will appeal to many palates. Even small towns have a variety of fast food options with outlets in several locations.
Low Cost Work Force
Fast food jobs usually do not require specialized skills. High school students, college students and people seeking part-time jobs have traditionally made up the bulk of those working in the industry. According to the U.S. Bureau of Labor Statistics, the median salary for fast food servers and prep staff is $7.75 an hour, with cooks making about $8.10 per hour. Increasing the number of fast food outlets is good for the industry's bottom line because of the volume of food sold and the ability to hire employees at lower skill and salary levels.
International Opportunities for Expansion
Not only are fast food outlets expanding in the U.S., western-style fast food business are expanding internationally. For example, China has seen a growth rate of 10 to 20 percent annually in fast food operations in the last 10 years. One reason given for this phenomenon is urbanization. As urban centers so does the demand for low-cost food resources. As those in other nations discover the convenience and relatively low cost of fast food, growth will continue to be positive.
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