Concorrência no setor de fast-food

Subway-adjacent franchise concepts (BLMN - Bloomin' Brands, or independent chains) will see reduced expansion rates (new unit openings <5% YoY) as capital becomes scarce following peer bankruptcies

MCD (McDonald's) stock will outperform QSR (Restaurant Brands/Burger King) by >8% over 6 months due to superior franchisee economics and lower bankruptcy risk, as competitors face margin compression from labor costs

Fast-food franchise bankruptcies will increase QoQ, putting downward pressure on parent company stock prices (MCD, QSR, SBUX) as investors price in higher franchise default risk and reduced royalty streams