KFC set to open 500 new restaurants following £1.5bn investment
KFC has announced plans to invest £1.49 billion in the UK and Ireland over the next five years
As KFC celebrates 60 years, the brand has announced plans to invest £1.49 billion and create over 7,000 new jobs in the UK and Ireland over the next five years.
The investment forms part of KFC UK&I’s future growth strategy, which includes the ambition to become the fastest growing restaurant brand for the next generation, with plans to open a further 500 restaurants over the next decade.
Breaking down the figures
Of the £1.49 billion investment, £466 million will go towards opening new restaurants across the UK&I, focusing on building flagship sites and drive-thrus in key locations such as Ireland and North West England, where there is strong potential for growth.
Part of this figure will also be spent on upgrading more than 200 existing KFC restaurants – 20% of the KFC estate – with a fresh new design and the latest digital capabilities to help deliver a best-in-class experience for customers and team members.
Through its expansion, KFC will create over 7,000 new jobs within its UK&I business and across its supply chain over the next five years, an investment totalling £583 million.
These new roles in restaurant include customer-facing team member jobs, kitchen-based roles cooking up KFC’s iconic chicken, restaurant managers and a newly created guest experience lead role tasked with improving the customer experience in restaurant. All roles offer a range of training and development opportunities to support fast career progression at KFC.
In addition to investing in restaurants and job creation, £404 million of the £1.49 billion investment will strengthen KFC’s long-standing relationships with its suppliers and help businesses across the UK&I continue to grow.
KFC’s investment will contribute a further £169 million of direct gross value added (GVA) to the UK economy over the next five years, through building new restaurants, hiring more people, spending more with UK suppliers, and increasing the earning and spending potential of its employees and partners.
A booming market
The move comes as the nation’s appetite for fried chicken continues to grow at pace. The UK fried chicken market is estimated to be worth £3.1 billion, its growth driven by KFC UK&I’s expansion over the past 60 years. The market is only expected to grow further, with consumer demand for fried chicken outstripping other QSR categories.
Rob Swain, general manager KFC UK & Ireland, said: “We’ve been serving customers in the UK for 60 years now, but we’ve never seen such strong demand for freshly prepared, fried chicken as we’re seeing today.
"As the market leader and a near-£2 billion revenue business, we’re incredibly well positioned to unlock this opportunity. That’s why we’re doubling down on our commitment to the UK&I with a major investment in our restaurants, and in the suppliers who have been so crucial to our success, which will create jobs in local communities across the country.”
You may also be interested in…
