Fast Food Restaurant Industry

1.0 INTRODUCTION

1.1 HISTORY OF FAST FOOD RESTAURANT INDUSTRY

The term ‘fast food’ has become part and parcel of our lifestyle especially among youngsters. According to Merriam-Webster Online Dictionary, ‘fast food’ is relating to, or specializing in food that can be prepared and served quickly. It also defined ‘fast food’ as designed for ready availability, use, or consumption and with little consideration given to quality or significance. Likewise, the common thing that comes to our brain when fast food is mentioned is obviously pizza and burger. However, we would not have come across this two dishes and many other fast food that originated from Europe and western countries if not for Richard and Mourice McDonald, who opened their first restaurant

Burger King and Taco Bell replicated the move by opening their own restaurants in 1950’s and Wendy’s opened its first outlet in 1969. Some other food chains such as Carl’s Jr, KFC and Jack in the Box, existed even before “Speede Service System” was introduced, but modified their food preparation techniques in accordance to the system.

The fast food restaurant industry has grown at a very rapid pace from its inception and currently the 21 century is witnessing massive proliferation of fast food restaurants which is triggered by several factors. Among the factors that promote the growth of these restaurants are quick service, convenient location, clean and comfortable environment and reasonable pricing which forms the characteristics of fast-food restaurants that are highly preferred by public.

Fast food restaurant industry has become a business sector that generates multi billions in revenue throughout the world thanks to the ever increasing fetish towards fast food notably among the younger generation. The habit of eating out has become a part of modern lifestyle and encourages customers to try and experience new things, thus, leading to the rapid growth of fast food restaurant industry in recent years with increase in the number of fast food outlets in multiple states or nationwide via franchises, sales volume and brand

Nevertheless, in recent years, there is increasing number of local based fast food restaurants entering the industry and managed to thrive amid facing competition from US based fast food restaurants. Some of the prominent Malaysian fast food restaurant chains are Secret Recipe, Marrybrown, Old Town White Coffee and PappaRich. Fast food restaurant chains from others countries such as Japan, South Africa, Ireland and France namely Sushi King, Nandos, O 'Briens Irish Sandwich Cafe AND Delifrance are also popular among fast food lovers in Malaysia.

The fast food restaurant industry in Malaysia is expected to continue to flourish driven by aggressive expansion plans by fast food restaurant chains in Malaysia by increasing their number of outlets throughout Malaysia in order to capture the pent up demand materialising from increase in purchasing power of Malaysians due to the country’s economy growth which is progressing toward achieving high-income nation status by 2020. Many other overseas fast food restaurant chains are also attempting to debut their brand in Malaysia which are in the likes of Taco Bell, CaliBurger and so