Fast Food Industry

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INDUSTRY OVERVIEW
The term fast food relates to the food that can be prepared very quickly. Most of this popular type of food is availed in packaged forms called take away. The fast food industry has its roots in the food for sale stand that were part and parcel of ancient roman and East Indian societies. The fast food industry also known as quick service restaurants, has been serving up tasty morsels for as long as who lives in cities. The modern system of fast food franchising is believed to have started in the mid 1930’s when Howard Johnson on franchised his second location to a friend as a means to expand operations during the great depressions. As cars become commonplace the drive thru concept brought explosive growth to the idea of food-on-the-go. Fast food was added to the Merion websites dictionary in 1951 and U.S. fast food companies are now franchised in over 100 countries.. In the U.S. alone there are over 200000 restaurants locations. Revenue has grown from $6 billion in 1970 to $160 billion in last year and 8.6% annualized rate. Fast food franchises focus on high volume low cost and high speed product, frequently food is preheated or precooked and served to go through many locations also offer seating for-on -sale consumption. There have been challenges for the fast food industry in recent years that have been pressuring profit margins. The industries as a whole proven robust enough to withstand these challenges through some players have done better than others. The global fast food manufacturers like MC D, KFC, and dominos, have already occupied a firm position in India.
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