This Popular Fast Food Burger Chain Boasts Some Of The Highest Prices
Fast food's business model is built on the premise of quickly providing affordable food to a large volume of hungry people, but these days that model seems to be shifting. Of course, prices appear to be rising everywhere you look, so it's no real surprise to see fast food menus affected by inflation, food costs, and increasing wages.
The conversation does get muddied by the fact that a new sort of chain has emerged that straddles the line between fast food and fast casual restaurants. After all, are McDonald's and Five Guys even in the same genre? We think so, which is why Five Guys takes the cake for some of the highest prices you'll see at a fast food chain. For a quick comparison, a Big Mac costs roughly $6, while a Little Cheeseburger at Five Guys sets you back a hefty $9, despite having a similar calorie count.
To be fair to Five Guys, we'll put it in perspective with other chains in its class, such as Shake Shack, BurgerFi, and Fatburger. Even among gourmet fast food burgers, Five Guys still manages to eke out the top spot in terms of price. A Double ShackBurger at Shake Shack (760 calories and includes cheese) is around $9, while a hamburger at Five Guys (840 calories, two patties, and no cheese) is more than $10. The half-pound cheeseburger at Fatburger is about 10 bucks, and a double cheeseburger at BurgerFi is slightly cheaper. It's difficult to do a full analysis without all the ingredient details, but it's safe to say Five Guys is leading the pack in terms of price.
How do consumers react to high fast food prices?
Fast food restaurants are in a difficult bind right now. On the one hand, they want to maintain an aura of affordability to appeal to the common folk. This could be part of the reason behind a resurgence in fast food value menus. At the same time, companies always have profit margins in mind, which is why fast food chains resort to sneaky tactics in order to get you to spend more.
We can't necessarily blame them. They are, after all, a business in search of profit. But seeing as how neither you nor I are sitting on the board of trustees, I feel quite confident that we're not looking to spend more money than necessary when we eat at these restaurants.
Does that mean we as consumers should be looking for the cheapest possible option whenever we go out? That doesn't always seem like the right approach if you want to eat your food and enjoy it too. With fast food prices rising as much as they are, many of us are beginning to notice that fast food prices are getting awfully close to chain restaurant prices. I, for one, lament the loss of a quick, cheap meal, so you will find me eating at fast food chains less and less. When ordering from a drive-thru hits my wallet nearly as much as a sit-down restaurant, it seems like a no-brainer to opt for the latter.