You’ve heard of “Peak Oil,” right? Where the amount of oil we can pump out of the earth has peaked and is in decline? Well now there is “Peak Burger” in America, where the number of fast food outlets is in serious decline, reports Business Week:
… Read the rest
For most of its history, the fast-food business in the U.S. has been characterized by rapid and dependable growth. From founder Ray Kroc’s first restaurant in Des Plaines, Ill., in 1955, McDonald’s (MCD) became a chain of more than 700 stores in the U.S. within 10 years. By 1983 there were 6,000, and for the next two decades the company opened about 360 U.S. outlets every year on average. Smaller rivals Burger King Worldwide (BKW) and Wendy’s (WEN) had impressive early growth stories of their own.