Taco Bell outlines plan for $15bn in global system sales by 2022
Staff Writer |
As part of its strategy to grow from $10 billion in annual sales today to $15 billion in annual sales across its global business by 2022, Taco Bell announced at its 2017 investor and analyst day its plans to add restaurants domestically.
Article continues below
The company revealed four key international markets that it will focus on as it continues to grow as a global brand.
Taco Bell recently announced its plans to grow as a system to approximately 9,000 restaurants globally in the next five years, opening the door of opportunity for 100,000 new jobs in the U.S. alone.
Between 2012 and 2016, Taco Bell opened more than 600 net new restaurants (excluding license units) domestically, and plans to improve upon 2016's growth rate in 2017.
Internationally, Taco Bell will focus its growth in Brazil, Canada, China and India, targeting at least 100 restaurants in each market. Today, Taco Bell operates more than 6,650 restaurants in 23 countries.
Last year, Taco Bell announced four new restaurant designs that will provide tailored concepts reflecting the local community – Heritage, Modern Explorer, California Sol and Urban Edge.
All four test locations opened in Orange County, California in 2016, and two new restaurants in Bay City, Michigan and New Whiteland, Indiana opened earlier this year.
By the end of 2017, an additional 350 restaurants will have been refreshed, bringing the total number to about 80 percent of the system.
In the past five years, Taco Bell and its franchisees have invested more than $600MM to re-image more than 2,700 restaurants.
By 2022, Taco Bell expects at least 300 of the new locations to be urban inline restaurants in markets with great growth potential.
With the recent opening in the Netherlands, Taco Bell currently has 350 restaurants in 22 countries outside the U.S.
In the next five years, the company plans to operate approximately 9,000 restaurants—up from 6,650 locations today—in more than 40 countries.
Taco Bell will open in many new markets, but remain focused on four key markets where it expects to open more than 100 restaurants each– Brazil, Canada, China and India.
Additional international growth markets gaining scale include Spain, Guatemala, South Korea and the United Kingdom. ■