Fast-food prices keep rising. According to CNET, average fast-food menu prices rose 13% in 2022. Customers have largely accepted the increases, and top chains have reported record profits in the past year.
Chipotle raised prices a little over 10% last year and again in late 2022, and McDonald's raised prices 10% in Q3 of 2022. In 2022, Wendy's and Starbucks raised prices.
BurgerFi, founded by a chef in 2011, became a fast-food burger favourite. The chain is known for its high-quality beef and excellent service. A juicy burger patty and a "have a nice day" don't make BurgerFi affordable for fast food customers.
Five Guys has been overpriced for years. The chain lost millennial customers around 2017 due to high prices. Five years later, Twitter still hates Five Guys' prices.
Shake Shack, a top 15 U.S. burger chain, is known for its "ShackBurger" and hand-spun milkshakes and frozen custard. Post-pandemic same-store sales growth was 7.8%.
The Colorado-based chain, owned by Jollibee, is known for its smashed-to-perfection 100% angus beef burgers. Since 2007, Smashburger has opened 20 restaurants per year.
Sonic Drive-In, known for its rollerskating carhops and burgers, hotdogs, slushes, and grilled cheese sandwiches, has been around since the 1950s. During the pandemic, the drive-in chain's off-premise business model boosted sales by 21% in 2020.