The Fast Food Industry in Houston, Texas Essay Example | Topics and Well Written Essays - 1000 words

The Fast Food Industry in Houston, Texas - Essay Example In 2010, Ibisworld report indicated that McDonald’s Corporation had a market share of 12.7 percent, Wendy’s had 6.6 percent, Starbucks Corporation had 5.9 percent, and Burgers King Corporation had 5.1 percent (Schlosser, 2012). This indicates that these four companies are the leading market players in Houston’s fast food industry with McDonald’s corporation being the market leader. Additionally, according, McDonald’s share price is $90.79. In 2011, the company’s profit rose to 19 percent that is equivalent to revenue of $6.91 billion. Wendy’s current-year income is projected at $2.69 billion, and Jack in the Box earnings and revenue is projected at $2.16 billion and $1.53 a share (Schlosser, 2012). In spite of gloomy economic condition, Houston fast food industry is experiencing robust economic growth. Studies have predicted that the fast food market is expected to grow in the coming years, and will cross the $179 Billion mark by 2013 (Schlosser, 2012). The fast food industry, like any other industry, also experiences the economic ups and downs. In addition, they provide products and services that many other businesses depend on. Various business trends such as social and financial markets significantly affect the economic status of fast food market. Some of the key factors that affect the demand and supply of fast food include health, supply, spending and financing. The impact of fast foods on health is one of the most significant challenges.