Fast Food | Page 3

The traditional method of judging success — ever-growing year-over-year sales increases — is antiquated. What matters more is Guest Lifetime Value, the amount of repeat business from loyal customers who visit more often and order more with no additional cost to the franchisee.

The announcement of the $5 deal comes as stubborn inflation squeezes consumers, who have demanded the fast food giant offer more value.

Several chains have raised their prices — or closed locations — in response to the wage increase, which has now led to a noticeable decline in foot traffic.

The first-ever Chick-fil-A opened in 1967 in Atlanta's Greenbriar Mall. A chicken sandwich sold for 59 cents and the restaurant was only 384 square feet — roughly the size of a two-car garage.