McDonald’s Plans $8.5 Billion Overhaul Through 2036

McDonald’s has pledged to spend about $8.5 billion over the next decade to help modernize restaurants and improve operations as the fast-food giant seeks to attract more customers.

The money will fund restaurant upgrades as well as rent relief for franchisees, the company said on Sept. 23. About $5 billion of that support is expected to be spent by 2030, with the remainder coming through 2036.

The investment is part of a broader growth strategy dubbed “NEXT,” which includes changes to restaurant design, menus, technology, and customer service.

McDonald’s estimates that the improvements could eventually generate about $100,000 in additional annual cash flow for the average U.S. restaurant once fully implemented. Franchisees are expected to recoup their share of the investment in about four years after receiving support from the company.

McDonald’s operates more than 46,000 restaurants in over 100 countries, with about 95 percent of its locations owned and operated by independent franchisees.

The company is also seeking to bring customers back more frequently by improving food quality and service while offering more personalized promotions through its loyalty program.

McDonald’s said it now has nearly 220 million active loyalty members across 70 markets and serves more than 70 million customers a day.

“McDonald’s has the unmatched scale, customer insights, brand loyalty, and operational capabilities to not only adapt to the next wave of change in our industry, but to turn it into an advantage,” Chairman and CEO Chris Kempczinski said in a statement.

The company also plans to expand its presence in some of the largest fast-food categories. By 2030, McDonald’s aims to increase its share of both the chicken and beverage markets by 1.5 percentage points while maintaining its position in beef.

New restaurant openings are expected to remain another important source of growth. McDonald’s projects that expanding its restaurant network will contribute nearly 2.5 percentage points to systemwide sales growth in 2027, moderating to about 2 percentage points annually by 2030.

McDonald’s also looks to cut costs. By 2030, McDonald’s is targeting an operating margin in the low-to-mid 50 percent range. That would be up from 46.1 percent in 2025, according to the company’s regulatory filings.

Part of that improvement would come from lower general and administrative expenses, which include corporate overhead such as management, office, and support costs.

McDonald’s projects that those expenses will fall to about 1.9 percent of systemwide sales by 2030, down from an expected 2.2 percent in 2026.