Dunkin' Brands chairman on 'fiscal cliff' fears
Consumers cutting back?
- Duration 3:09
- Date Oct 15, 2012
Consumers cutting back?
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Have you ever been so worried you don't -- Never in my life has that happened but but.
Let's say you slow down on your big purchases.
And you worried because you might lose -- -- -- might -- it.
You you slow down on the big vacations -- you don't take him at all would you.
Slow down eating out maybe at that fancy restaurants but would you go down scale and actually not even go.
Two -- of the fast food places.
Well who better to ask that they don't lose -- the -- chairman doctor -- chairman international threats as associates interviews all things food and he's a -- guy I don't know how to does that.
The John I mean that is a worry I I usually what you see.
It is just sad that people do sort of retrench even on the everyday stuff -- -- seen that yourself.
Yeah I LB and part of Arby's and Dunkin' brands you know -- serve at the crossroads between franchisees.
And consumers all the time and we have to -- there.
Viewpoints and and understand their behaviors and late this summer early this summer there we saw -- real.
Slow down the cut back and and and overall in the industry the -- franchises just a general restaurant industry.
By itself and I think it's you know people forget about this big point you know we talk about price per barrel when it comes to gas they look at price per gallon.
And I think that was beginning to escalate and I think that got into the psyche of the consumers as well so.
That's easy and it's giving -- time.
Maybe see more that as a more uncertain and become of the morning here about and they will Soledad yeah witness -- remind them.
That debt -- -- -- you're gonna get more tanks and -- fewer people eating out.
At exactly and I think what people are retrenching.
They're eating out less -- eating at home.
There are just generally cutting back and overall purchases -- food -- becoming -- and we've seen that softening over the summer and into the early fall here.
However you know the consumer still has to eat and everybody's working hard to make sure that we provide value and and -- -- and in the franchise world.
You know we have franchisees that are small business people.
Who you know 80% of franchisees.
File -- -- or LLC is a partnership returns which are personal returns.
So they're also being affected by the consumer slowdown in the uncertainty.
And we went out my besides that represented I don't you know -- like anybody's business but it did they might represent 3% of the small businesses out there but they account for.
It's obvious up to -- the hiring that we forget that -- Exactly we're you know franchise industry has direct and indirect jobs of eighteen million jobs and in this country.
And they're -- or 825000.
Establishments that are franchise.
So of these small -- people can make a huge contribution to our economy.
Even though they be a small percentage.
And until our jobs until there are certainty in the in the consumer environment and in the business environment.
We're going to be going through this for a while until the leadership.
Of our country clears a path and crates and certainly -- our long term basis.
John thank you very very much good having you know.
We're gonna get a.