Fast Food: franchise chains expanding in China
The Chinese market is growing in importance for international restaurant franchises such as McDonald's, Burger King and Pizza Hut. According to a report published by the news agency, Reuters, McDonald's is intending to open up at least 125 new outlets in 2008 and around 150 in 2009. If they achieve this goal, McDonald's will have approximately 1,000 restaurants in China.
Other fast-food chains, however, are intending to expand at an even faster rate in China. Apparently, Burger King – which currently has ten restaurants in the country – is hoping to open up up to 300 new branches over the next five years. KFC, which belongs to the Yum Brands Group, already has 2,000 outlets in China. Yum Brands owns several franchise networks including Pizza Hut and Taco Bell. The Group is looking to generate 26 percent of its overall profits in China this year.