McDonald's China Plans To Open A New Store Every Day In Four Years
The fast food wars in China are fierce. In a country where Colonel Sanders is more omnipresent than Mao, McDonald's has some serious competition. That's why within the next four years, McDonald's plans to open a new outlet daily in China. By 2013, McDonald's hopes to add 700 outlets to its already existing 1,300.
The chain isn't exactly dragging its feet in the meantime -- it currently opens a new restaurant every other day. In order to achieve such massive growth, McDonald's wants to focus more on franchising in China. Although 75% of McDonald's worldwide are owned by franchisees, only six stores in China are franchised.
McDonald's has been planning its Chinese expansion for some time, but the rate at which it plans to open stores is somewhat staggering. There are about 3,200 KFC stores in China, so even with McDonald's ambitious growth plans, catching up to the Colonel remains a daunting challenge.