麦当劳公司（McDonald's Corp.）推出的雄心勃勃的餐厅和菜单改革计划，引发了面临至少80万美元每店升级费用的美国特许经营者的担忧。
Corp.’s ambitious plan to overhaul its restaurants and menu is sparking angst among US franchisees facing upgrades that will cost at least $800,000 per location.
一些特许经营者表示，他们对上周公布的为期多年、旨在提升食品质量、服务和效率的计划的价格标签感到惊讶。据知情人士透露，他们在一系列近期会议上讨论了该项目的成本和缺乏细节的问题，其中一些会议是由代表美国运营商的选举组织牵办的。这些知情人士要求匿名，因为他们未获授权在公开场合发表言论。
Some franchise owners say they were surprised by the price tag announced two weeks ago for the multiyear initiative to improve food quality, service and efficiency. They’ve been discussing concerns about the project’s cost and lack of details in a series of recent meetings, including some organized by an elected association representing US operators, according to people familiar with the matter who requested anonymity because they weren’t authorized to speak publicly.
麦当劳需要特许经营者的支持，以帮助恢复今年动摇的投资者信心。从2月末的高点到9月底——大约是首席执行官克里斯·肯皮金斯基（Chris Kempczinski）公布其“Next”商业计划的时候——该公司的股价下跌了32%，在短短七个月内蒸发了近800亿美元的市值。该股正朝着2002年以来的最糟糕年度表现收盘。
McDonald’s needs the backing of its franchisees to help restore investor confidence that has faltered this year. From a peak in late February through the end of September — around the time Chief Executive Officer Chris Kempczinski unveiled his “Next” business plan — the company’s shares plunged 32%, squandering nearly $80 billion of market value in just a seven-month span. The stock is on course for its worst annual performance since 2002.
肯皮金斯基将这一新举措描述为夺得市场份额的关键，尤其是在消费者变得更加挑剔且竞争日益激烈的背景下。该公司正努力应对美国销售放缓的问题，部分原因在于去季度推出的价廉菜单未达预期效果。公司正在尝试新的方法来解决这一问题。牛肉、劳动力和设备成本的上升也给餐厅带来压力。上个月，温迪的（Wendy's Co.）最大的特许经营者之一申请破产，凸显了快餐经营者面临的压力。
Kempczinski is billing the new initiative as critical to gaining market share as diners become choosier and competition intensifies. The company is grappling with slowing US sales,in part due to a value lineup that didn’t perform as expected last quarter. The company is working to remedy that with a new approach. Rising costs of beef, labor and equipment have been pressuring restaurants, too. One of Wendy’s Co.’s largest franchisees filed for bankruptcy last month, underscoring the squeeze on fast-food operators.
据公司估算，这些升级项目预计需要美国各加盟店在数年时间内投入约80万美元才能实施。目前各经营方已需承担至少40万美元的定期翻新费用，这意味着每家餐厅面临的总支出将达约120万美元。麦当劳已承诺提供约85亿美元的资金及租金减免，以分担部分成本，具体支持力度将视各加盟商情况而定。
The upgrades are expected to cost US franchisees about $800,000 per location to implement over several years, according to company estimates. Operators are already on the hook for scheduled remodels that cost at least $400,000, bringing the total tab they’re facing to about $1.2 million per restaurant. McDonald’s has pledged about $8.5 billion in cash and rent relief to offset part of those costs, with the level of support varying by franchisee.
据知情人士透露，原本计划在未来几个月安排加盟商参观“Next”计划下的餐厅样板间，但加盟商们说服公司将参观时间推迟至明年，以便优先应对当前客流量下滑的难题。各餐厅经营者表示，他们担忧为实施升级而背负更多债务，同时也在向麦当劳询问更多信息，以了解这些改造措施预计能带来多大的销售额提升。
McDonald’s franchisees were slated to tour a prototype of what restaurants could look like under “Next” in the coming months, but they persuaded the company to put off those visits until next year to focus on the immediate traffic concerns, according to people familiar with the matter. Restaurant operators say they’re worried about taking on more debt to pay for the changes, and they’re seeking more details from McDonald’s about what kind of sales lift they can expect.
古根海姆证券分析师格雷戈里·弗朗弗特在给客户的报告中写道：“我们预计，在接受计划中的部分内容并反对其他条款的前提下，加盟商们会试图将整体成本压低20%至40%。”
“Our suspicion is that franchisees will look to negotiate the price tag down ~20-40% as they accept certain elements of the plan and push back on others,” Guggenheim Securities analyst Gregory Francfort wrote in a note to clients.
麦当劳在电子邮件声明中表示，公司对该计划仍充满信心。公司也认同向经营方提供更多信息至关重要，目前已与加盟商及公司管理层共同组建专项工作组，负责审核财务数据并敲定各项细节。
McDonald’s said in an emailed statement that it remains confident in its plan. The company agrees that additional information is important for operators, and it’s set up task forces with franchisees and company leaders to review the financials and iron out the details.
这并非麦当劳与加盟商之间首次出现矛盾。2017年，麦当劳要求各经营方正式承诺参与一项为期多年的美国市场升级计划，内容涵盖餐厅翻新、自助点餐机安装、移动端点餐及配送服务推广。最终超过85%的美国加盟商签署了协议，但随后又有不少业主对升级所需的成本及推进节奏提出异议。
It isn’t the first time that tensions have come between McDonald’s and its franchisees. In 2017, the chain asked operators to formally commit to a multiyear US revamp that included restaurant remodels, kiosks, mobile ordering and delivery. More than 85% of US franchisees signed on, but owners later pushed back against the cost and pace of the upgrades.
在上述矛盾背景下，加盟商们于2018年成立了独立的权益维护组织，成功促使麦当劳给予经营方更充裕的翻新时间。
Amid those tensions, franchisees formed an independent advocacy group in 2018 that helped persuade McDonald’s to give operators more time for remodels.
麦当劳还协同各加盟商共同推进多项重要举措。2020年，该公司推出了一项战略计划，重点涵盖市场营销、核心菜单开发以及外卖和得来速等数字化服务。2022年全球订单量增长了5%，麦当劳将这一成绩部分归功于该计划的实施。
McDonald’s has also aligned franchise owners around major initiatives. In 2020, the company launched a strategy focused on marketing, core menu items and digital conveniences such as delivery and drive-thru. Global orders rose 5% in 2022, which McDonald’s credited in part to the project.
“Next”计划旨在将麦当劳打造为不仅仅提供快捷实惠餐食的场所。该计划拟重新设计餐厅布局，使其更加开放，同时恢复以往装修中缺失的趣味元素；此外还将优化厨房运作流程，从而提升员工制作餐食的效率。
The “Next” plan aims to turn McDonald’s into more than a stop for a quick, cheap meal. The idea is to redesign restaurants to be more open and to bring back playful elements lost in previous remodels, while streamlining kitchens so staff can prepare meals more efficiently.
麦当劳表示，借助自动点餐系统等举措，该计划有望帮助加盟商每年节省约10万美元的现金流，这些节省下来的人力与资金可再投入到项目的其他环节。据肯普茨斯基上月接受采访时透露，麦当劳将投入85亿美元，助力加盟商实现其历来期望的至少20%的投资回报率。
McDonald’s has said the program will help operators save about $100,000 in annual cash flow thanks to initiatives such as automated order-taking, which should free up people and cash for other parts of the project. The company is putting up the $8.5 billion to help franchisees get the investment returns of at least 20% that they’ve historically expected, Kempczinski said in an interview last month.
“我们愿意与加盟商携手合作，以此彰显我们的信心，”他说道。肯普茨斯基还补充称，受信息披露相关规定的限制，公司此前未能向加盟商透露该计划的具体财务细节。
“We’re willing to partner with the franchisees as a demonstration of our faith,” he said. Kempczinski added that the company wasn’t able to share the financial details of the plan in advance with franchise owners due to disclosure rules.