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CEO John Miller sees highly franchised system focused on profitable transactions, better margins
As Denny’s Corp. finishes its refranchising program, executives are focusing on tailoring the family-dining brand’s offerings on better margins and profitability that appeal to franchisees.
In releasing fourth-quarter earnings Tuesday, the 1,703-unit Spartanburg, S.C.-based company said its efforts to become 96% to 97% franchised were “substantially completed.”
John Miller, Denny’s CEO, said, “There's an earnest desire among highly franchise systems to focus a little bit more on profitable transactions and quality transactions in light of high wage inflation.”
Miller said franchisees showed a willingness to give up a little bit on transactions to drive “respectable margins.” About 15% to 25% of guests seemed driven by value offerings, he ad...
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