>Generally that's true in the consumer space but the food business has few barriers of entry so it's very competitive and low margin. Most restaurants barely ma

>Generally that's true in the consumer space but the food business has few barriers of entry so it's very competitive and low margin. Most restaurants barely make 30% gross margin after labor and COGS, before rent and marketing. Not an expert in this area, but I'd be shocked if McDonalds' books looked anything like a typical restaurant's - real estate investments aside.