In Australia alone, there have been 174 quick-service restaurant openings in the past 12 months, ending on the 30th of June, 2023.
This surge saw 336 new stores open and 162 cease operations across 29 different brands, according to the latest Fast Food and Quick Service Restaurant Retail Network Report by GapMaps, which also indicated that there was 6,861 locations nationwide.
According to senior analyst at GapMaps, Scott Johnson, there has been a lot of movement across all fast food and QSR sectors as major and small brands adjust store portfolios to cater to the ever-changing economic landscape within the hospitality industry.
“I see the net 174 new restaurants as a positive and illustrates strong growth and confidence across the sector,” said Johnson.
Sushi Hub and Guzman Y Gomez were the largest expanding brands within the past 12 months, with an increase of 21 stores each. In the final quarter of the 12 months alone, Guzman Y Gomez opened ten new stores. Dominos saw a further 18 stores open, but reported a net decrease of four of its stores within the last quarter.
Burgers saw a vast increase, with an overall opening rate of approximately 50 new stores introduced onto the market. Betty’s Burgers, Carl’s Jr and Patty Smiths added 10, nine, and six stores, respectively. Other brands that reported a growth in the double figure margin included KFC, with 16, Noodle Box, with 14, and Grill’d which opened 13. In the final quarter, behind Guzman Y Gomez’s ten new openings, Zambrero opened seven, and both Noodle Box and Sushi Hub each opened six new stores.
Nando’s saw the largest drop in the number of stores, closing five. Red Rooster and Sushi Sushi each closed one store. Rosie’s Chicken, Chicken Treat, Pizza Capers and Hungary Jack’s reported no change.
Of all quick service restaurant brands in Australia, Subway, McDonald’s, Domino’s, KFC, and Hungary Jack’s remained the top five brands with the most properties.
Johnson said that despite a challenging period in the April quarter, there were still 59 openings.
"This is a good indicator that the fast food and QSR sector is growing, and with access to the right datasets, cannibalization of existing stores can be avoided,” said Johnson.
