My impression is that McDonalds' margins are shrinking, forcing franchisee consolidation. Where margins are still fat, you'll find more one-off franchises. Ch

My impression is that McDonalds' margins are shrinking, forcing franchisee consolidation. Where margins are still fat, you'll find more one-off franchises. Chick-Fil-A, for example, used to limit "Operators" to one store. Real Estate agents are often franchises.