Restaurant Brands International unveils long-term growth plan for 2028

The company aims to open 40,000 restaurants for its four anchor brands.

Restaurant Brands International Inc. (RBI) launched its long-term global growth outlook for its four anchor brands Tim Hortons, Burger King, Popeyes and Firehouse Subs, involving the opening of 40,000 restaurants, $60b in system-wide sales, and $3.2b in adjusted operating income by 2028.

The RBI outlook has also outlined its projected performance, with 3% plus comparable sales, 5% plus net restaurant growth, and 8% plus system-wide sales growth, leading to a close 8% of adjusted operating income growth.

Tim Hortons will concentrate on its growth in the daypart portion of its product line, including wraps, bowls, savoury pastries, snacking, and new product innovation. It also plans to wield significant growth in cold beverages, improving from its 25% market share gained from 2023.

For Burger King, growth needs to accelerate towards 85% to 90% of the system to modern image, propelling incremental sales through remodels and marketing.

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Meanwhile, for Popeyes, menu expansion will be vital to its growth, with the Chicken Sandwich and Wings serving as a template for its growth. Amongst them is the acceleration of Easy to Run kitchens and new stores towards over 4,200 outlets by 2028.

As for Firehouse Subs, its digital channels will be scaled to 100% to boost the speed of service with equipment innovation and accelerate restaurant growth to develop 300 net new annual units, leading to 800 new units by 2028.

“We're proud of the work our franchisees and their teams are doing to deliver quality food, excellent service and convenience to guests. Our long-term investment horizon should result in compelling business performance and drive at least low double-digit annual total shareholder returns over the next 5 years,” Josh Kobza, CEO of RBI, said.