McDonalds isn’t a fast food company. They are a real estate investment company. Their former CFO said as much “we are not technically in the food business. We are in the real estate business. The only reason we sell fifteen-cent hamburgers is because they are the greatest producer of revenue, from which our tenants can pay us our rent.” - Harry J Sonneborn
When places go bust faster resale value is more important. this means you need to build generic buildings that hold value when sold or rented.
McDonalds isn’t a fast food company. They are a real estate investment company. Their former CFO said as much “we are not technically in the food business. We are in the real estate business. The only reason we sell fifteen-cent hamburgers is because they are the greatest producer of revenue, from which our tenants can pay us our rent.” - Harry J Sonneborn