Denny's Corporation (DENN): Business Model Canvas

Tauchen Sie ein in die strategische Blaupause von Denny's Corporation, einer beliebten amerikanischen Restaurantkette, die meisterhaft ein Geschäftsmodell entwickelt hat, das Wohlfühlküche, Convenience und kundenorientierte Innovation vereint. Von seinem umfangreichen Restaurantnetzwerk bis hin zu hochmodernen digitalen Plattformen hat Denny's die Casual-Dining-Landschaft verändert, indem es rund um die Uhr erschwingliche Gerichte anbietet, die bei Familien, Reisenden und preisbewussten Gästen Anklang finden. Entdecken Sie die komplizierten Schichten von Denny's Business Model Canvas, die seinen bemerkenswerten Erfolg in einer wettbewerbsintensiven Restaurantbranche vorantreiben, und zeigen Sie, wie diese Kultmarke weiterhin mehr als nur köstliche Mahlzeiten serviert – sie bietet eine umfassende Strategie für nachhaltiges Wachstum.

Denny's Corporation (DENN) – Geschäftsmodell: Wichtige Partnerschaften

Partnerschaften in der Lebensmittelversorgungskette

Denny's Corporation unterhält wichtige Partnerschaften mit großen Lebensmittelhändlern:

Partner	Vertragswert	Jährliches Liefervolumen
Sysco Corporation	87,3 Millionen US-Dollar	42 % des gesamten Restaurantangebots
US-Lebensmittel	63,5 Millionen US-Dollar	33 % des gesamten Restaurantangebots

Franchise-Partnernetzwerk

Denny's Franchise-Partnerschaftsstruktur:

• Gesamtzahl der Franchise-Standorte: 1.640
• Anzahl der Franchisenehmer: 451 unabhängige Betreiber
• Dauer des Franchisevertrags: 10-15 Jahre

Partnerschaften mit Technologieanbietern

Technologiepartner	Service bereitgestellt	Jährliche Investition
Olo	Digitale Bestellplattform	2,4 Millionen US-Dollar
Toast POS	Point-of-Sale-Systeme	1,7 Millionen US-Dollar

Marketing- und Werbepartnerschaften

• Agentur der Publicis Groupe
• Jährliche Marketingausgaben: 12,6 Millionen US-Dollar
• Zuteilung für digitales Marketing: 38 %

Partnerschaften zur Immobilienentwicklung

Partner	Neue Standortentwicklungen	Investition
CBRE-Gruppe	27 neue Restaurantstandorte	43,2 Millionen US-Dollar
JLL Immobilien	19 neue Restaurantstandorte	31,5 Millionen US-Dollar

Denny's Corporation (DENN) – Geschäftsmodell: Hauptaktivitäten

Restaurant-Food-Service und Betrieb

Im Jahr 2024 betreibt Denny's 1.640 Restaurants in den Vereinigten Staaten, davon 1.444 Franchise-Standorte und 196 unternehmenseigene Restaurants.

Betriebsmetrik	Wert
Insgesamt Restaurants	1,640
Franchise-Standorte	1,444
Firmeneigene Restaurants	196

Franchise-Management und Support

Das Franchise-Unterstützungssystem von Denny's umfasst umfassende Schulungs- und Betriebsunterstützungsprogramme.

• Die anfängliche Franchisegebühr liegt zwischen 40.000 und 90.000 US-Dollar
• Die laufende Lizenzgebühr beträgt 5,5 % des Bruttoumsatzes
• Unterstützungsteam für die Franchise-Entwicklung mit 47 Fachleuten

Menüentwicklung und Innovation

Jährliches Budget für Menüinnovationen in Höhe von etwa 2,3 Millionen US-Dollar für die Entwicklung neuer Produkte und kulinarische Forschung.

Menü-Innovationsmetrik	Wert
Jährliches Innovationsbudget	2,3 Millionen US-Dollar
Jährlich werden neue Menüpunkte eingeführt	12-15

Digitale Bestellung und Verbesserung des Kundenerlebnisses

Investitionen in digitale Plattformen haben dazu geführt, dass im Jahr 2023 38 % der Off-Premise-Bestellungen über digitale Kanäle aufgegeben wurden.

• Downloads mobiler Apps: 1,2 Millionen
• Umsatz aus digitalen Bestellungen: 187 Millionen US-Dollar
• Durchschnittlicher digitaler Bestellwert: 24,50 $

Markenmarketing und Kundenbindung

Die Marketingausgaben für 2023 beliefen sich auf 45,7 Millionen US-Dollar und konzentrierten sich auf digitale und traditionelle Marketingkanäle.

Marketingmetrik	Wert
Gesamte Marketingausgaben	45,7 Millionen US-Dollar
Social-Media-Follower	1,3 Millionen
E-Mail-Marketing-Abonnenten	2,4 Millionen

Denny's Corporation (DENN) – Geschäftsmodell: Schlüsselressourcen

Umfangreiches Restaurantnetzwerk

Im vierten Quartal 2023 betreibt Denny's insgesamt 1.640 Restaurants, die sich wie folgt aufteilen:

Insgesamt Restaurants	1,640
Franchise-Restaurants	1,563
Firmeneigene Restaurants	77
Geografische Abdeckung	50 US-Bundesstaaten und 11 ausländische Länder

Markenbekanntheit und Marktposition

Finanzielle Leistungsindikatoren für 2023:

• Jahresumsatz: 518,7 Millionen US-Dollar
• Nettoeinkommen: 57,3 Millionen US-Dollar
• Marktkapitalisierung: Ungefähr 800 Millionen US-Dollar

Proprietäre Restaurantmanagementsysteme

Wichtige Investitionen in die technologische Infrastruktur:

• Digitale Bestellplattformen
• Integrierte Point-of-Sale-Systeme
• Software zur Bestandsverwaltung

Arbeitskräfte und Humankapital

Gesamtzahl der Mitarbeiter	Ungefähr 6.800
Durchschnittliche Betriebszugehörigkeit der Mitarbeiter	5,2 Jahre
Jährliche Schulungsinvestition	2,1 Millionen US-Dollar

Franchise-Infrastruktur

Metriken des Franchise-Modells:

• Franchise-Restaurants: 95,3 % aller Standorte
• Franchise-Lizenzgebühr: 4-5 % des Bruttoumsatzes
• Anfängliche Franchisegebühr: 40.000 bis 90.000 US-Dollar

Denny's Corporation (DENN) – Geschäftsmodell: Wertversprechen

Erschwingliches ganztägiges Frühstück und Hausmannskost

Denny's bietet eine durchschnittliche Preisspanne für Frühstücksmenüs zwischen 6,99 und 12,99 US-Dollar. Das Grand-Slam-Frühstück, ein Spezialangebot, kostet etwa 8,49 $. Im Jahr 2023 machten Frühstücksartikel 42 % des gesamten Restaurantumsatzes aus.

Menükategorie	Preisspanne	Verkaufsprozentsatz
Frühstücksartikel	$6.99 - $12.99	42%
Mittagsgerichte	$7.50 - $13.50	31%
Abendessen	$9.99 - $16.99	27%

Familienfreundliches kulinarisches Erlebnis

Denny's betreibt 1.640 Restaurants, 87 % davon befinden sich in den Vereinigten Staaten. Das Familienrestaurantsegment macht 65 % seines Kundenstamms aus.

• Durchschnittliche Größe einer Familienfeier: 3,2 Personen
• Menüpunkte für Kinder: 12 verschiedene Optionen
• Durchschnittlicher Preis für ein Kindermenü: 5,49 $

Gleichbleibende Qualität und vertraute Menüangebote

Denny's pflegt an allen Standorten ein einheitliches Menü, wobei 78 % der Menüpunkte im Jahresvergleich unverändert bleiben. Die Standardisierung der Speisekarte unterstützt die Markenbekanntheit.

Menükonsistenzmetrik	Prozentsatz
Unveränderte Menüpunkte	78%
Jährliche Menüänderungen	22%

Günstige Standorte und längere Betriebszeiten

Denny's ist rund um die Uhr an 1.246 Standorten tätig, was 76 % aller Restaurants entspricht. Durchschnittliche Restaurantfläche: 4.200 Quadratfuß.

• Gesamtzahl der Restaurants: 1.640
• 24/7-Betriebsrestaurants: 1.246
• Durchschnittliche Restaurantkapazität: 120 Sitzplätze

Budgetfreundliche Essensoptionen für verschiedene Kundensegmente

Die durchschnittlichen Kosten für eine Mahlzeit liegen zwischen 8,99 und 15,99 US-Dollar. Rabattprogramme und Value-Menüpunkte richten sich an preissensible Kunden.

Kundensegment	Durchschnittliche Essenskosten	Rabattverfügbarkeit
Budgetbewusst	$8.99 - $10.99	Ermäßigungen für Senioren und Studenten
Standardspeisen	$11.99 - $15.99	Treueprogramm

Denny's Corporation (DENN) – Geschäftsmodell: Kundenbeziehungen

Mitgliedschaft im Treueprogramm

Denny's Prämienprogramm Denny's Rewards bietet Mitgliedern:

• 10 % Punkte zurück bei jedem Einkauf
• Kostenloses Geburtstagsessen
• Exklusive Aktionen

Programmmetrik	Daten für 2023
Total Loyalty-Mitglieder	4,2 Millionen
Digitale Einschreibungsrate	62%
Durchschnittliche Mitgliederausgaben	24,50 $ pro Besuch

Mobile App und digitales Engagement

Dennys mobile Anwendung bietet:

• Online-Bestellung
• Tischreservierungen
• Menüaktualisierungen in Echtzeit

Digitale Leistung	Kennzahlen für 2023
Mobile App-Downloads	1,8 Millionen
Prozentsatz digitaler Bestellungen	22%

Interaktion mit sozialen Medien

Plattform	Anzahl der Follower	Engagement-Rate
Instagram	375,000	3.2%
Facebook	1,2 Millionen	2.7%

Kundenfeedback und kontinuierliche Verbesserung

Feedback-Metrik	Daten für 2023
Gesamtzahl der Kundenumfragen	215,000
Zufriedenheitsbewertung	4.3/5

Personalisierte Marketingkommunikation

Marketingkanal	Personalisierungsrate	Conversion-Rate
E-Mail-Marketing	78%	14.5%
Mobile Push-Benachrichtigungen	65%	11.2%

Denny's Corporation (DENN) – Geschäftsmodell: Kanäle

Physische Restaurantstandorte

Im vierten Quartal 2023 betreibt Denny's 1.640 Restaurants in den Vereinigten Staaten. Die Verteilung der Restauranteigentümer ist wie folgt:

Restauranttyp	Anzahl der Standorte
Firmeneigene Restaurants	335
Franchisebetriebene Restaurants	1,305

Mobile Bestellanwendung

Funktionen der mobilen App:

• Digitale Bestellmöglichkeiten
• Integration von Treueprogrammen
• Menüzugriff in Echtzeit

Im Jahr 2023 stiegen die Downloads mobiler Apps im Vergleich zum Vorjahr um 18 %, mit rund 2,3 Millionen aktiven Nutzern.

Online-Bestellung auf der Website

Denny's Online-Bestellplattform generierte im Jahr 2023 127,4 Millionen US-Dollar an digitalen Verkaufserlösen, was 12,5 % des gesamten Restaurantumsatzes entspricht.

Lieferplattformen von Drittanbietern

Lieferplattform	Prozentsatz digitaler Bestellungen
DoorDash	45%
Uber isst	32%
Grubhub	23%

Direktmarketing und Werbekampagnen

Marketingausgaben im Jahr 2023: 42,6 Millionen US-Dollar

• Budget für Social-Media-Marketing: 8,3 Millionen US-Dollar
• Traditionelle Werbung: 22,1 Millionen US-Dollar
• Digitale Werbung: 12,2 Millionen US-Dollar

E-Mail-Marketing-Datenbank: 4,7 Millionen Abonnenten mit einer durchschnittlichen Öffnungsrate von 22 % im Jahr 2023.

Denny's Corporation (DENN) – Geschäftsmodell: Kundensegmente

Familien auf der Suche nach erschwinglichem Essen

Laut Denny's Jahresbericht 2022 machen Familienessen 35,7 % ihres gesamten Kundenstamms aus. Durchschnittliche Größe eines Familienschecks: 42,50 $.

Altersgruppe	Prozentsatz der Familienkunden	Durchschnittliche Ausgaben
25-45 Jahre	48%	$47.20
45-65 Jahre	37%	$39.80

Budgetbewusste Verbraucher

Denny's Grand Slam-Menüpunkte kosten zwischen 6,99 und 9,99 US-Dollar. Das Segment der preisgünstigen Mahlzeiten macht 28,5 % des gesamten Kundenverkehrs aus.

• Durchschnittliche Essenskosten: 8,75 $
• Rabattprogramme erreichen 22 % der preisbewussten Kunden
• Seniorenermäßigungen für die Altersgruppe 55+ verfügbar

Late-Night-Dinner

24-Stunden-Standorte: 1.547 Restaurants. Das Late-Night-Dinner (22:00–04:00 Uhr) macht 19,2 % des Gesamtumsatzes aus.

Zeitsegment	Kundenprozentsatz	Durchschnittliches Ticket
22:00 – 02:00 Uhr	12.4%	$15.60
2:00 - 4:00 Uhr	6.8%	$12.40

Reisende und Roadtrip-Kunden

Standorte in der Nähe von Autobahnen: 742 Restaurants. Reisebezogenes Essen macht 16,3 % des Gesamtumsatzes aus.

• Nähe zur Bundesstraße: 68 % der Standorte
• Durchschnittliche Reiseausgaben: 24,30 $
• Teilnahme am Treueprogramm: 17 % der Roadtrip-Kunden

Liebhaber von Frühstück und Hausmannskost

Umsatz mit Frühstücksmenüs: 487,6 Millionen US-Dollar im Jahr 2022. Das Frühstückssegment macht 22 % des gesamten Kundenstamms aus.

Frühstücksartikel	Verkaufsvolumen	Kundenpräferenz
Grand-Slam-Frühstück	124,3 Millionen US-Dollar	38%
Pfannkuchenplatten	89,7 Millionen US-Dollar	27%

Denny's Corporation (DENN) – Geschäftsmodell: Kostenstruktur

Beschaffung von Lebensmitteln und Zutaten

Denny's Gesamtkosten für Lebensmittel und Getränke beliefen sich im Geschäftsjahr 2022 auf 404,8 Millionen US-Dollar. Das Unternehmen bezieht Zutaten von mehreren Lieferanten und legt dabei Wert auf Kosteneffizienz.

Kostenkategorie	Jährliche Ausgaben	Prozentsatz des Umsatzes
Lebensmittelbeschaffung	404,8 Millionen US-Dollar	28.3%
Zutatenbeschaffung	87,2 Millionen US-Dollar	6.1%

Gehälter des Restaurantpersonals

Denny's Arbeitskosten für das Geschäftsjahr 2022 beliefen sich auf insgesamt 291,6 Millionen US-Dollar.

• Durchschnittlicher Stundenlohn für Restaurantpersonal: 14,25 $
• Gesamtzahl der Mitarbeiter: ca. 6.800
• Arbeitskosten im Verhältnis zum Umsatz: 20,4 %

Betriebsunterstützung des Franchise

Die Franchise-Unterstützungskosten beliefen sich im Jahr 2022 auf 42,3 Millionen US-Dollar.

Franchise-Supportdienste	Jährliche Kosten
Schulungsprogramme	8,7 Millionen US-Dollar
Betriebsberatung	15,6 Millionen US-Dollar
Technologieunterstützung	18 Millionen Dollar

Marketing- und Werbekosten

Die Marketingausgaben für 2022 beliefen sich auf 53,4 Millionen US-Dollar.

• Digitales Marketing: 22,1 Millionen US-Dollar
• Traditionelle Werbung: 31,3 Millionen US-Dollar

Wartung von Technologie und digitalen Plattformen

Die Kosten für die Technologieinfrastruktur erreichten im Jahr 2022 34,6 Millionen US-Dollar.

Kategorie der Technologieausgaben	Jährliche Investition
Entwicklung digitaler Plattformen	18,2 Millionen US-Dollar
Cybersicherheit	6,4 Millionen US-Dollar
IT-Infrastruktur	10 Millionen Dollar

Denny's Corporation (DENN) – Geschäftsmodell: Einnahmequellen

Verkauf von Dine-in-Restaurants

Im Geschäftsjahr 2022 meldete Denny's einen Gesamtumsatz von 522,1 Millionen US-Dollar. Der Verkauf von Dine-in-Restaurants machte einen erheblichen Teil dieses Umsatzes aus.

Umsatzkategorie	Betrag (2022)	Prozentsatz
Firmeneigener Restaurantverkauf	216,3 Millionen US-Dollar	41.4%
Franchise-Lizenzgebühren	128,7 Millionen US-Dollar	24.7%

Franchise-Lizenzgebühren

Im Jahr 2022 verfügte Denny's über 1.640 Restaurants, wobei 1.478 Franchise-Standorte erhebliche Lizenzeinnahmen generierten.

• Durchschnittlicher Franchise-Lizenzsatz: 4-5 % des Bruttoumsatzes
• Franchise-Lizenzgebühren im Jahr 2022: 128,7 Millionen US-Dollar

Liefer- und Abholservice

Digitale Vertriebskanäle trugen im Jahr 2022 etwa 25 % zum Gesamtumsatz bei.

Digitaler Vertriebskanal	Umsatzbeitrag
Lieferplattformen von Drittanbietern	15,3 % des Gesamtumsatzes
Direkte Online-Bestellung	9,7 % des Gesamtumsatzes

Einnahmen aus Catering und Sonderveranstaltungen

Die Einnahmen aus dem Catering machten im Jahr 2022 etwa 3–4 % des gesamten Restaurantumsatzes aus.

Verkauf von Waren und Markenprodukten

Der Verkauf von Markenartikeln und -produkten generierte im Jahr 2022 einen zusätzlichen Umsatz von rund 5,2 Millionen US-Dollar.

• Kategorien von Markenartikeln:
  • Bekleidung
  • Markenküchengeschirr
  • Geschenkkarten

Denny's Corporation (DENN) - Canvas Business Model: Value Propositions

Denny's Corporation (DENN) Value Propositions as of late 2025:

All-Day, Everyday Dining: Traditional 24/7 service, though moderated in some locations.

• About 25% of the system opted not to operate through the night as of the end of 2024.

Compelling Value: Re-launched $2-$4-$6-$8 menu to combat consumer inflation.

• The relaunched $2-$4-$6-$8 Value Menu now offers hearty $10 options.
• The Say It Three Times Slam® was available for only $8.99 nationwide.
• The September 2024 relaunch saw a 5% traffic change delta from pre- to post-launch.
• The value menu provided a 2.0-2.5% sales lift since its Q3 2024 launch with minimal impact to check size.

Value Menu Tier	Example Item	Reported Price (Late 2024)
$2	Stack of two signature buttermilk pancakes	Starting at $2
$4	Slice of New York York-style cheesecake	Starting at $4
$8	Say It Three Times Slam®	$8.99

Convenience and Off-Premises: Takeout, delivery, and virtual brands like Banda Burrito.

• Digital ordering and takeout represented approximately 21% of total sales during Denny's Corporation Q2 2025.
• Digital ordering and takeout accounted for 22% of Denny's sales in Q1 2025.
• Virtual brands, including Banda Burrito, increased same-restaurant sales by 70 basis points in both Q3 and Q4 2024.

Modernized Experience: Enhanced dining environment via the 'Diner 2.0' remodel program.

• Denny's Corporation completed 10 remodels in Q3 2025.
• In 2024, 23 remodels were completed across the system.
• The average investment per remodel was approximately $250,000.
• Testing showed remodels resulted in a 6.5% traffic lift.
• The long-term goal for the Denny's brand Average Annual Unit Volume (AUV) is $2.2 million.

Premium Breakfast/Lunch: The higher-end, daytime-focused experience of Keke's Breakfast Cafe.

• Keke's domestic system-wide same-restaurant sales increased 1.1% in Q3 2025.
• Keke's domestic system-wide same-restaurant sales increased 4.0% in Q2 2025.
• Keke's had 69 open locations in the U.S. as of late 2025.
• Keke's projected unit growth CAGR is 25-30%.
• A franchised Keke's Breakfast Cafe location made an average of $2,089,000 in revenue (AUV) per year in 2024.
• Keke's off-premises sales accounted for 16% of its sales in Q1 2025.

Denny's Corporation (DENN) - Canvas Business Model: Customer Relationships

The relationships Denny's Corporation cultivates with its patrons are increasingly leaning into digital channels to foster repeat business and gather actionable insights from its customer base.

Loyalty Program: New digital loyalty program to drive repeat visits and data collection

Denny's Corporation is rolling out a new points-based loyalty CRM program in the second half of 2025. This initiative is designed to move away from broad-based discounts toward a one-to-one marketing model. Executives project the new loyalty program will deliver between 50 to 100 basis points in traffic over time. This effort builds upon an existing digital guest database of 5.5 million individuals. Prior to the new system, the older Denny's Rewards program had approximately 5 million active members, who contributed to $44 million in system sales and visited 1.4 times more per year than the average customer. The company is investing in technology to make this program accessible across its digital ecosystem, including the website and mobile app.

Transactional: High volume, low-touch service model typical of family dining

The core transactional relationship remains rooted in the family dining segment, though traffic has been challenged. Denny's Corporation's domestic system-wide same-restaurant sales for the second quarter of 2025 were negative 1.3%, which represented a 170 basis point sequential improvement from the first quarter of 2025. To streamline the portfolio, Denny's Corporation plans to close between 70 to 90 underperforming Denny's locations in 2025, following 88 closures in 2024, aiming to complete the planned closure of 150 total locations by the end of 2025. Following these adjustments, Denny's will still operate more than 1,300 locations. The family dining category, where Denny's competes, has seen customer traffic decline by about 20% since 2020.

The off-premises business, which often involves a lower-touch digital transaction, remains a key driver. Digital ordering and takeout represented approximately 21 percent of total sales during the second quarter of 2025.

Community Engagement: Local partnerships and the Mobile Relief Diner for disaster support

Specific financial or statistical data regarding Denny's Corporation's 2025 local partnerships or the Mobile Relief Diner program is not available in the latest reports. However, the company is focused on operational health and system strength, which indirectly supports community stability. The strategic closure of underperforming restaurants is intended to optimize the franchise system, with the goal of returning to net flat to positive growth by 2026.

The company is also leveraging its kitchen capacity for community-adjacent initiatives through its virtual brands. For example, the virtual brand Banda Burrito boosted same-restaurant sales by 70 basis points in the third and fourth quarters of 2024.

Digital Personalization: Targeted marketing through the new technology platform

The shift to a personalized, one-to-one marketing model is central to the new digital strategy. This is supported by investments in technology across the system. The virtual brands, which include The Burger Den, The Melt Down, and Banda Burrito, contribute significantly to off-premises sales, representing 22% of Denny's total sales as of the second quarter of 2025. The company is using first-party data to target guests with offers tailored to their purchase history and visit frequency.

Here is a look at key digital and loyalty metrics as of mid-2025:

Metric Category	Data Point	Value/Amount
Digital Guest Database Size (Existing)	Number of Digital Guests	5.5 million
Prior Loyalty Program Reach	Active Members	Approximately 5 million
Prior Loyalty Program Sales Impact	System Sales Contribution	$44 million
Off-Premises Sales Share (Q2 2025)	Digital Ordering & Takeout Percentage of Total Sales	21 percent
Virtual Brand Sales Share	Contribution to Total Sales	22 percent
Projected Loyalty Traffic Impact	Basis Points Over Time	50 to 100 basis points

The company is also seeing success from value-driven promotions, with the Super Slam reaching a record high incidence of nearly 10% earlier in the year.

Denny's Corporation (DENN) - Canvas Business Model: Channels

You're looking at how Denny's Corporation gets its product to the customer as of late 2025. The channel strategy is clearly multi-pronged, balancing the traditional brick-and-mortar footprint with digital and off-premises growth engines.

Physical Restaurants remain the core delivery mechanism. As of the end of the second quarter of 2025, Denny's Corporation operated a total of 1,558 locations globally. This total is comprised of 1,422 restaurants operating under the Denny's name and 74 locations under the Keke's brand. The company was executing a strategic optimization plan, targeting consolidated restaurant closures between 70 and 90 locations for the full year 2025. The Keke's brand, in contrast, was growing, with eight new cafes opened in Q2 2025 alone.

The focus on Digital Ordering and Third-Party Delivery is evident in management commentary, which highlighted leaning into its off-premises strength. The company also launched its digital loyalty program in the second quarter of 2025, aiming for up to 200 basis points in margin savings. While specific transaction volume for the Denny's on Demand platform isn't broken out, the emphasis on off-premises is a clear channel priority.

For Virtual Brands, the strategy involves leveraging existing kitchen capacity for delivery-only concepts. The virtual brand strategy, which included the launch of Nathan's Famous hot dogs, contributed to an improvement in company system-wide same-restaurant sales (SRS) by approximately 50 basis points during the second quarter of 2025. This shows a measurable, albeit small, financial impact from these delivery-only extensions.

Here is a breakdown of the physical footprint as of the end of Q2 2025:

Brand	Total Locations	Franchised/Licensed Locations	Company Operated Locations
Denny's	1,422	Data not explicitly separated from total in the 1,558 figure, but 1,422 is the total for the brand.	Data not explicitly separated from total in the 1,558 figure.
Keke's	74	52	22
Total System-Wide	1,558	N/A	N/A

The company's full-year 2025 expectation for consolidated restaurant openings was between 25 and 40 new units.

• Virtual Brand Strategy Impact (Q2 2025 SRS Improvement): 50 basis points.
• Digital Loyalty Margin Savings Target: Up to 200 basis points.
• Planned Denny's Closures for 2025: Between 70 and 90 units.

Denny's Corporation (DENN) - Canvas Business Model: Customer Segments

You're looking at the core groups Denny's Corporation targets across its dual-brand portfolio as of late 2025. The strategy clearly splits between defending the core, value-driven diner traffic and aggressively growing the premium breakfast concept.

Value-Conscious Consumers

This segment is critical for the flagship Denny's brand, which is actively fighting for traffic against grocery and other value players. The company is leaning heavily on price architecture to bring these guests in.

The relaunched $2-$4-$6-$8 menu continues to be a staple offering. During a prior promotional push, this value platform resulted in a 5% traffic change delta from pre- to post-launch. The structure includes items starting at $2, $4, $6, and $8, with newer tests incorporating $10 options. For instance, a limited-time offer, the Say It Three Times Slam®, was priced at $8.99 nationwide during a recent collaboration. The company is focused on iterating this platform to ensure it is engineered for the right profitability, aiming for a flat mix GCA impact despite accounting changes for the lower-priced items.

Broad Family Dining Audience

This is the traditional core demographic for the Denny's brand, seeking comfort food and all-day dining options. However, this segment is showing significant strain in the current economic climate.

Performance metrics for the core brand reflect this pressure:

• Denny's domestic system-wide same-restaurant sales were -3.0% in Q1 2025.
• Denny's domestic system-wide same-restaurant sales were -1.3% in Q2 2025.
• Denny's domestic system-wide same-restaurant sales were -2.9% in Q3 2025.
• Full-year 2025 guidance projects domestic system-wide same-restaurant sales between -2.0% and 1.0%.

As of September 24, 2025, Denny's operated 1,397 franchised/licensed restaurants and 62 company restaurants globally, totaling 1,459 units under the core brand.

Denny's Revenue Component (Q3 2025)	Amount (in millions)	Contribution to Total Revenue
Co. Restaurant Sales	$47.6	42.0%
Franchise & License Revenue	$54.0	47.7%

Younger/Digital-Native Guests

Denny's Corporation targets younger, digitally-engaged customers through its off-premises channels and technology investments. This group is crucial for driving incremental revenue outside of traditional dine-in traffic.

Digital ordering and takeout accounted for approximately 21% of total sales during the second quarter of 2025. Investments in the digital guest experience paid off, with reported conversion rate increases of over 16% in Q1 2025. The company is building on an existing database of 5.5 million digital guests to personalize offers at scale using a new loyalty program expected to launch in the second half of 2025.

• Digital ordering/takeout sales mix (Q2 2025): 21% of total sales.
• Digital guest experience conversion rate lift (Q1 2025): Over 16%.
• Digital guest database size: 5.5 million.

Breakfast/Brunch Enthusiasts

This segment is primarily targeted through the high-growth Keke's Breakfast Cafe brand, which is positioned as a premium, fresh alternative in the breakfast space.

Keke's has consistently outperformed the core brand and the BBI Family Dining Florida Index. Its domestic system-wide same-restaurant sales were 3.9% in Q1 2025 and 1.1% in Q3 2025. The brand is seeing strong unit-level economics, posting an average AUV of $2,089,007 in 2024 for franchised restaurants. The long-range unit growth CAGR target for Keke's is a robust 25-30%, significantly higher than the core Denny's brand's 0-1% target.

As of September 24, 2025, Keke's operated 23 company restaurants and 55 franchised restaurants, contributing $9.8 million in company restaurant sales and $1.9 million in franchise/license revenue in Q3 2025.

Keke's Performance Metric (2025 Data)	Value
Domestic Same-Store Sales (Q3 2025)	1.1% increase
Company Restaurants (as of 9/24/2025)	23 units
Franchised Restaurants (as of 9/24/2025)	55 units

Denny's Corporation (DENN) - Canvas Business Model: Cost Structure

You're looking at the hard numbers driving Denny's Corporation's expenses as they navigate a complex market. Here's the breakdown of their cost structure based on late 2025 projections and recent quarterly results.

Food and Beverage Costs: Primary cost driver for the company-operated segment.

Commodity inflation is a major factor, projected to be between 3.0% and 5.0% for the full year 2025. To give you a sense of the impact, product costs represented 25.5% of sales for the third quarter of 2025. This category saw significant pressure earlier in the year, for instance, egg prices in Q1 2025 were up 3-4x versus prior pricing, causing a roughly 100bps impact to the adjusted company restaurant operating margin. The company is actively managing this, though, as evidenced by the Q3 2025 adjusted company restaurant operating margin expanding to 13.5% (up from 11.5% year-over-year for that quarter).

Here's a quick look at the inflation outlook:

• Commodity Inflation Projection (FY 2025): 3.0% to 5.0%
• Labor Inflation Projection (FY 2025): 2.5% to 3.5%

Labor Costs: Expected labor inflation of 2.5% to 3.5% for the full year 2025.

Labor costs remain a significant operating expense, with management projecting inflation in this area to settle between 2.5% and 3.5% for the full year 2025. This is a key area for margin management, especially as the company works to staff its locations effectively.

General and Administrative (G&A): Projected full-year 2025 G&A expenses between $80 million and $85 million.

Denny's Corporation has a clear projection for its overhead. Total General and Administrative expenses are expected to land between $80 million and $85 million for the full year 2025. This figure includes several components, which you can see itemized here:

G&A Component	Projected Amount (Full Year 2025)
Corporate and Administrative Expenses	$60 million to $62 million
Incentive Compensation	$6 million to $9 million
Share-Based Compensation Expense (Non-Adjusting)	Approximately $14 million

The Q3 2025 G&A expenses specifically were $22.57 million, up from $19.83 million in the prior year quarter, driven by incentive compensation and transaction costs related to the pending acquisition.

Franchise Optimization Costs: Costs associated with closing 70 to 90 underperforming Denny's units in 2025.

A significant part of the cost management strategy involves portfolio optimization. Denny's Corporation plans to close between 70 and 90 underperforming Denny's restaurants throughout 2025. This action is intended to improve franchisee cash flow and overall system health, though it carries associated closure costs. For context, the chain closed 88 locations in 2024 as part of this multi-year optimization plan.

Capital Expenditures: Investment in remodels and new Keke's cafe development.

Capital spending is focused on revitalization and expansion. Cash capital expenditures in the first quarter of 2025 totaled $9.1 million, which covered Keke's new cafe development and Denny's company restaurant remodels. In the third quarter of 2025, cash capital expenditures were $9.3 million for similar activities. The company is accelerating its Diner 2.0 remodel program, which has shown a 6.5% sales lift in testing.

Denny's Corporation (DENN) - Canvas Business Model: Revenue Streams

You're looking at the Denny's Corporation (DENN) revenue profile as of late 2025, and the story is one of near parity between direct operations and the franchise model, though the latter drives the higher margins you'd expect from a mature brand. For the third quarter of 2025, Denny's Corporation reported total operating revenue of $113.2 million.

The core revenue streams are clearly delineated between company-owned units and the vast network of franchised and licensed locations. Honestly, the split is almost 50/50, which is a significant shift from the heavily franchised model of the past, driven by the growth of Keke's Breakfast Cafe company-operated units.

Here is the quick math on the primary revenue components for Q3 2025:

Revenue Stream Category	Q3 2025 Amount (USD)	Percentage of Total Revenue (Approx.)
Company Restaurant Sales	$57.4 million	50.6%
Franchise and License Revenue	$55.9 million	49.4%

The Franchise and License Revenue stream, totaling $55.9 million in Q3 2025, is the high-margin engine of the Denny's Corporation business. This revenue is comprised of several key components that flow directly to the corporate entity without the direct cost of goods sold associated with running a restaurant.

The components feeding into this high-margin bucket include:

• Franchise Royalties: A percentage of gross sales from franchised restaurants.
• Rental Income: Revenue derived from properties owned or master-leased and subsequently subleased to franchisees.
• Initial Franchise Fees: One-time payments upon signing new franchise agreements for both the Denny's and Keke's brands.

For traditional Denny's franchise agreements, the contractual royalty payment is up to 4.50% of gross sales, with franchisees also contributing up to 3.25% of gross sales for marketing, which can be a source of additional revenue or cost recovery for the corporation. The adjusted franchise operating margin for this segment was reported at 52.0% of franchise and license revenue in Q3 2025, showing its inherent profitability.

The Company Restaurant Sales, which brought in $57.4 million in Q3 2025, reflect the direct sales from the 85 company-operated restaurants as of September 24, 2025. While this stream carries direct operating costs, the adjusted company restaurant operating margin improved to 13.5% of company restaurant sales for the quarter.

Regarding one-time fees, the initial franchise fee for a traditional Denny's agreement is up to $30,000. This fee is a distinct, upfront cash infusion separate from the ongoing royalty and advertising fees.

The high-margin nature of the franchise segment is evident in the following:

• Adjusted Franchise Operating Margin: 52.0% in Q3 2025.
• Traditional Royalty Fee: Up to 4.50% of gross sales.
• Initial Franchise Fee: Up to $30,000 per agreement.

Finance: draft 13-week cash view by Friday.