How A Chick-Fil-A Changes The Local Economy Around It

Start your own store with #printify: https://try.printify.com/dhaq1t8hirtg The first 100 people who use the code MICRO will get 15% off their first order! ********* I'm on Spotify 👉 https://open.spotify.com/show/0qSzwHH... ******* Chapter Breakdown 00:00 The Grand Opening 01:22 The Lengths People Will Go To For A Chicken Sandwich 05:40 The Economic Push And Pull 06:22 The Real Estate Boom 10:30 Sponsor - Printify 11:37 This Is NOT Charity 13:16 Strategic Generosity 18:03 Why Not Keep Everything? ******* All materials in these videos are for educational purposes only and fall within the guidelines of fair use. No copyright infringement intended. This video does not provide investment or financial advice of any kind. Music Courtesy of: Epidemic Sound Select Footage Courtesy of: Getty Images #economics #business #chickfila ******* The SAUCE 🥫 https://annatexas.gov/DocumentCenter/... https://www.bisnow.com/news/dallas-ft... https://www.restaurantbusinessonline.... https://chickfilaatlhwy.com/wp-conten... https://www.businessinsider.com/chick... https://www.qsrmagazine.com/exclusive... https://dictionary.cambridge.org/us/d... https://www.adventuresincre.com/gloss... https://investmentgrade.com/investmen... https://investmentgrade.com/chick-fil... https://www.forbes.com/profile/cathy/ https://www.businessinsider.com/chick... https://www.businessinsider.com/how-c... https://gridwise.io/blog/chick-fil-a-pay https://www.mcdonalds.com/us/en-us/fa... https://www.chick-fil-a.com/franchise https://thehustle.co/why-it-only-cost... https://www.newyorkfranchiselawyer.co... --------- On the 16th of April 2020, in a small town on the outskirts of Dallas a new Chick-Fil-A had its grand opening. As far as new locations go, its timing was actually far from ideal. A national emergency for Covid had been declared just a month beforehand, and its location right off the highway wouldn’t do it much good when nobody was going anywhere… But even despite these early setbacks; this single location had an immediate and noticeable impact on the economy of the township around it. In the following months (despite wider economic slowdowns) the state comptroller’s office reported sales tax revenue had increased by between 30% and 40% year-over-year in the area. Now that would be impressive enough by itself at a time when consumer spending was otherwise cratering, BUT this store was also not alone. These sales increases came on top of a baseline that was set by more than half a dozen other major fast food chains that were already operating within this highway offramp… not to mention a home depot, and a Walmart super center… If all of that wasn’t enough, locations like this can materially impact real estate values and wages in surrounding areas after they open… and I mean look… their chicken is pretty tasty… But how is it possible for (what is still ultimately) just another fast food chain; to have a bigger impact on the local economy, than everything else combined? Well there are a few reasons, and the first is the economically measurable lengths that people will go to, to get a chicken sandwich. According to the information we have, the average free standing Chick-Fil-A location brought in 9.4 million dollars in revenue last year, while for comparison, the average McDonalds brought in in a little under 4 million. It also achieved this outperformance despite a much smaller menu with fewer opportunities for up-charges, and the small detail that every single location is closed on Sunday, Which just means that they have six sevenths of the regular trading week to pull that revenue from… But despite all of these hurdles their restaurants achieve this anyway because people are statistically willing to go a lot further out of their way to eat at one, when compared to basically any other fast food chain.