2024 Remodel Report

Apr 23, 2024 | Insights, Restaurant Research

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Report Summary

  • A historically slow remodel pace reflects: significantly higher construction & equipment costs; lower store level profitability; and less favorable borrowing terms.
  • The 58 $1B+ chains under our coverage have instead focused their facility investment spending over the last 3 years on adding customer access points (drive-thrus, pick-up windows & takeout areas) and increasing their operating efficiency by implementing new tech and labor-saving equipment. Resultantly, the percentage of total aggregate $1B+ system units incorporating a current image has fallen to well below half.
  • Remodel report content coverage by concept includes: system remodel progress; average remodel cost & sales lift; and a description of the current remodel program.

Estimated Totaly System Units at Current Image Graph

Estimated % of System at Current Image Graph

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