A Deeper Dive

What are we to make of the situations at major burger chains these days? This week’s episode of the Restaurant Business podcast A Deeper Dive features Michael Halen, senior restaurant and foodservice analyst with Bloomberg Intelligence, to discuss what’s going on with McDonald’s and Burger King, in particular. McDonald’s recently laid off hundreds of employees around the world, closing its U.S. field offices and eliminating its two-zone field office structure. This, despite the company’s generally strong results. We discuss those layoffs and what they mean to the company. We also talk about Burger King, which has struggled with bankruptcy filings and restaurant closures of late. And we talk about the potential impact that former Domino’s CEO Patrick Doyle could have on the chain and its parent company Restaurant Brands International.

Who is Mike Hancock? We find out in this week’s episode of the Restaurant Business podcast A Deeper Dive. Hancock recently took over as president of Firehouse Subs for longtime CEO Don Fox. Hancock has worked for Firehouse Subs parent company Restaurant Brands International. He started with the chain as chief operating officer last year after serving in a similar role at the Canadian chain Tim Hortons. Hancock discusses his views of Firehouse after a year with the chain, including its strengths and opportunities. He discusses technology in particular and the brand’s foundation. We also get into a discussion on the future of the brand. And I can’t help but ask him about Tim Hortons.

What happens when you mix ice cream and cinnamon rolls? We’re about to find out. This week’s episode of the Restaurant Business podcast Deeper Dive features Jim Holthouser, CEO of the Atlanta-based brand operator Focus Brands, which operates Cinnabon, Auntie Anne’s, Carvel, McAlister’s Deli, Schlotzski’s, Jamba and Moe’s. He discusses the status of these brands and the company’s plans for them. He talks about the future of development in and out of the mall. And he talks about the potential for McAlister’s to become a $1 billion brand. But Holthouser also talks about Swirl, a concept Focus is developing that combines Cinnabon and Carvel in a new type of co-branding arrangement. In addition, I talk about the future of restaurant IPOs, franchisee optimism, and why tipping culture will never change.

How important is tipping to a restaurant employee? In this week’s episode of the Restaurant Business podcast A Deeper Dive, Associate Editor Reyna Estrada joins me to discuss tipping. Estrada is a former restaurant worker herself, having spent years as a server at Steak n Shake (before it went limited service) and then as a Panera Bread employee. She relied on tips the entire time. We discuss the practice and she discusses how much it meant to get those tips, both at the full-service restaurant and at the fast-food concept. She talks about where she made the most money and whether the tips influenced her service. In addition, I talk about the Starbucks CEO, restaurants that sold for high multiples and joint employer.

What is the future of third-party delivery? How about virtual brands or ghost kitchens? In this week’s episode of the Restaurant Business podcast A Deeper Dive, Senior Editor Joe Guszkowski joins me to talk about the state of some of the biggest trends during the pandemic. We talk about delivery. Some data is suggesting that third-party delivery demand is growing. But other data suggests the opposite. We try to get at the real story. We also talk about virtual brands and what the future of those concepts. And we get into a discussion on ghost kitchens in light of Wendy’s pulling back on its deal to open in some 700 Reef Kitchens locations. Meanwhile, three things I’m thinking about right now.

Who is going to buy Subway? In case you haven’t heard, the fast-food sandwich chain is on the market. In this week’s episode of the Restaurant Business podcast A Deeper Dive, I speak with John Gordon, a restaurant consultant out of San Diego, to discuss the chain. Subway has hired JP Morgan to help find a buyer. Reports suggest a host of large private equity firms, including Goldman Sachs and Bain Capital, are looking at it, with a price tag of $8 billion or more. John and I discuss that sale and the price tag. We also talk about the numerous changes Subway has made over the past two-plus years and how they are influencing the company and the sale process. I also give my thoughts on Bojangles, Wendy’s and Sardar Biglari.

What is the future of Bojangles? This week’s episode of the Restaurant Business podcast A Deeper Dive features Jose Armario, the CEO of the 800-unit chicken chain. Armario took over the chain after it was sold in 2018 to Durational Capital Management, and he takes time to discuss how the chain did last year. He also discusses the brand’s future, including plans to expand well beyond its Southeastern roots. And he reveals some interesting information about the company’s menu as it looks to expand into new markets. In addition, some thoughts on pizza fatigue, the Corner Bakery bankruptcy and M&A markets.

What is the future of restaurant automation? This week’s episode of the Restaurant Business podcast A Deeper Dive features Matt Newberg, the founder of the media platform Hngry. Hngry is a subscription media platform that examines how technology is reshaping our food system through trends like ghost kitchens, microfulfillment, fungi-based proteins, personalized nutrition and other things. We talk about the state of technology and automation and how all this technology will influence customer service inside the restaurant. In addition, I give some thoughts on franchisee profitability, electric vehicle chargers and the weather.

Why are chocolate milkshakes so important to Cameron Mitchell? This week's episode of the Restaurant Business podcast A Deeper Dive features Mitchell, founder of Cameron Mitchell Restaurants and one of the country's most successful restaurant creators. Mitchell's company operates 64 restaurants in 20 brands, including the fine dining brand Ocean Prime. He talks about his reasons for starting a restaurant company and why culture was so important to him from day one. We talk about a range of other topics, including the state of fine dining and how his company was able to emerge from the pandemic. He also talks about hospitality and chocolate milkshakes but we will let him tell that story. It’s a great conversation with one of the industry’s more accomplished restaurateurs. And this week, I give you thoughts on three big stories this week, including Subway, Chipotle and Patrick Doyle.

The plant-based meat trend is dead. Or maybe it isn’t. This week’s episode of the Restaurant Business podcast “A Deeper Dive” is about plant-based meat, and specifically, why fake meat hasn’t quite taken off at fast-food restaurants the way many predicted three years ago. Nancy Kruse, RB’s menu trends columnist, joins me on the podcast to discuss the topic. While products like Impossible Foods and Beyond Meat burgers were all the rage in 2019, sales of both appear to have slowed considerably—both companies have laid workers off, for instance, and brands like McDonald’s have not followed through on hoped-for plans for plant-based offerings in the U.S. We discuss why that trend hasn’t quite matched some of the early promise and whether that early promise was a bit overblown. We also talk about the reasons why average consumers have not been as accepting of such products as many hoped.