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The Bottom Line

Jonathan Maze The Bottom Line

Restaurant Business Executive Editor-in-Chief Jonathan Maze is a longtime industry journalist who writes about restaurant finance, mergers and acquisitions and the economy, with a particular focus on quick-service restaurants. He writes daily about the factors influencing the operating environment, including labor and food costs and various industry trends such as technology and delivery.

Jonathan has been widely quoted in media publications such as the New York Times and the Washington Post and has appeared on CNBC, Yahoo Finance and NPR. He writes a weekly finance-focused newsletter for Restaurant Business, The Bottom Line, and is the host of the weekly podcast “A Deeper Dive.”

Financing

Why more franchise executives should become franchisees

 By Jonathan Maze on Sep. 15, 2023

The Bottom Line: Some executives of franchise chains are also franchisees. “I feel the pain when I make a decision to bring something in.”

Financing

California fast-food restaurants are about to get hit with a huge wage hike

 By Jonathan Maze on Sep. 14, 2023

The Bottom Line: Fast-food restaurants will have to pay $20 an hour under a compromise reached this week. How will operators pay for it?

Financing

In appreciation of White Castle's Impossible Slider

By Jonathan Maze on Sep. 08, 2023

The Bottom Line: The burger chain kicked off the plant-based, fast-food trend with the introduction of the menu item five years ago. While the trend has slowed at quick-service concepts, that doesn’t make the move any less important.

Financing

Fast-food franchises need value, but at what cost?

By Jonathan Maze on Sep. 07, 2023

The Bottom Line: A big coupon drop by Subway gives customers some huge value. That’s a potential problem at a brand with profitability challenges.

Financing

Consumers should pay the price for delivery, but will they?

By Jonathan Maze on Sep. 07, 2023

The Bottom Line: Third-party services are pushing back against restaurants that charge higher prices. But that practice is unlikely to end anytime soon, leaving the ultimate decision up to consumers.

Financing

McDonald's restaurant valuations come back down to earth

By Jonathan Maze on Sep. 05, 2023

The Bottom Line: Franchisee valuations are “plummeting,” according to the head of the chain’s independent franchisee association. The company has not been able to get many new franchisees into the system. But the market is just different now.

Financing

How Subway's closures could open the door for growth chains

By Jonathan Maze on Aug. 30, 2023

The Bottom Line: Ike’s Love & Sandwiches has grown to 100 locations. And a surprisingly big part of its growth strategy involves closed Subway restaurants.

Financing

If you're going to discount, tread carefully

By Jonathan Maze on Aug. 29, 2023

The Bottom Line: Consumers could easily shift into value mode as they start repaying student loans and run out of pandemic cash. But that doesn’t mean you should start slashing prices.

Financing

Roark Capital solidifies its status as the go-to fast-food buyer

By Jonathan Maze on Aug. 25, 2023

The Bottom Line: The 22-year-old private equity firm has been involved in many of the industry’s biggest deals, especially in recent years. And Subway isn’t even the biggest.

Financing

Subway's complex sale process comes to its expected conclusion

By Jonathan Maze on Aug. 24, 2023

The Bottom Line: The lengthy sale process and the apparent deal terms in Roark Capital’s winning bid reveal just how difficult a turnaround the sandwich giant is.

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