Rising wages combined with a lack of workers are encouraging companies to look towards machines to fill roles that were once exclusively the domain of humans. A ready supply of low-cost labor, typically in the form of young and unskilled workers, is a vital ingredient in the fast food industry’s recipe for success. What’s more, they are plagued by high employee turnover. Most restaurants operate on razor-thin margins. Others must have spent that time retraining for a different job.įloating higher wages to attract employees is not a long-term solution. Stimulus checks and unemployment benefits likely kept some workers at home. That means reopening dining areas and hiring more staff–no easy task given today’s global labor shortages.Ī year after COVID-19 was declared a pandemic, the US restaurant industry found itself short of 1.2 million employees compared to the prior year. But with global vaccination rates steadily rising and the Delta wave subsiding, more customers want to sit down and eat. Ghost kitchens popped up to crank out delivery and takeout orders. More recently, COVID-19 forced restaurants to pivot.
Robotize fast food 2015 mac#
The company is so well known that many readers have probably already thought of other innovations: menu items like the Big Mac or Filet-O-Fish, the introduction of the Happy Meal, and of course the creation of Ronald McDonald. Any time you hear an assertion that McDonald’s is in the real estate business and not in the hamburger business, think Sonneborn. Harry Sonneborn doesn’t get much pop culture recognition in the McDonald’s story, but the financial innovations he executed still shape the company today. Using their own operational innovation, the application of production line manufacturing to fast food (dubbed the ‘Speedee Service System’), the McDonald brothers had a local hit. The original McDonald’s restaurant was opened in 1940 in San Bernardino, California. A quick glimpse at the early years of the world’s largest fast food restaurant demonstrates how new ideas can translate to big upside for shareholders. In many ways, innovations have shaped fast food as we know it today.
Robotize fast food 2015 driver#
Innovation is also a growth driver in the seemingly humdrum business of fast food. But as an investor, your options for innovative companies aren’t limited to new frontiers like electric vehicles, online gambling, or space stocks. When you think of innovative industries, fast food might not be the first type of business that springs to mind.
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