Hubris lives, even in the moribund fast food business. Hayley Peterson:
A Chipotle executive blasted “traditional” fast food chains, such as McDonald’s and Burger King, as “irrelevant” and said his company will eventually replace them.
The numbers I found online are a couple of years old, and they can be sliced and diced a few ways, but McDonald’s, Subway, Burger King, Wendy’s, Taco Bell, Pizza Hut, Jack-in-the-Box, Arby’s, and Dairy Queen have almost 80,000 restaurants. Chipotle has less than 2,000.
Chipotle co-CEO Monty Moran:
The predominant goal [for traditional fast food chains] is the cheapening of the raw ingredients, the automation of the work such that anyone could do it… so that they turn over their employees without any care for them, where it’s a game of value meals and cheapening the food experience… That is traditional fast food, and we think that’s going away. We, and others like us, will replace that.
Maybe so. It just won’t happen quickly and the major fast food restaurants are likely to modify their business methods to respond to such changes.