Denny's Corporation (Denn): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Mergulhe no plano estratégico da Denny's Corporation, uma amada cadeia de restaurantes americanos que criou magistralmente um modelo de negócios que mistura comida, conveniência e inovação centrada no cliente. De sua ampla rede de restaurantes a plataformas digitais de ponta, a Denny's transformou a paisagem casual para refeições, oferecendo refeições acessíveis e 24 horas por dia que ressoam com famílias, viajantes e lanchonetes preocupados com o orçamento. Descubra as intrincadas camadas da tela de modelo de negócios de Denny que alimentam seu notável sucesso em uma indústria competitiva de restaurantes, revelando como essa marca icônica continua a servir mais do que apenas refeições deliciosas - ela serve uma estratégia abrangente para um crescimento sustentável.

Denny's Corporation (Denn) - Modelo de Negócios: Principais Parcerias

Parcerias da cadeia de suprimentos de alimentos

A Denny's Corporation mantém parcerias críticas com os principais distribuidores de alimentos:

Parceiro	Valor do contrato	Volume anual de oferta
Sysco Corporation	US $ 87,3 milhões	42% do suprimento total de restaurantes
US Foods	US $ 63,5 milhões	33% do suprimento total de restaurantes

Rede de Parceria da Franquia

Estrutura de parceria de franquia de Denny:

• Locais totais de franquia: 1.640
• Contagem de franqueados: 451 operadores independentes
• Contrato de franquia Duração: 10-15 anos

Parcerias de fornecedores de tecnologia

Parceiro de tecnologia	Serviço prestado	Investimento anual
Olo	Plataforma de pedido digital	US $ 2,4 milhões
Torrada pos	Sistemas de ponto de venda	US $ 1,7 milhão

Parcerias de marketing e publicidade

• Publicis Groupe Agency
• Gastes anuais de marketing: US $ 12,6 milhões
• Alocação de marketing digital: 38%

Parcerias de desenvolvimento imobiliário

Parceiro	Novos desenvolvimentos de localização	Investimento
Grupo CBRE	27 novos locais para restaurantes	US $ 43,2 milhões
Jll Real Estate	19 novos locais de restaurantes	US $ 31,5 milhões

Denny's Corporation (Denn) - Modelo de Negócios: Atividades -chave

Restaurante Food Service and Operations

Em 2024, a Denny's opera 1.640 restaurantes nos Estados Unidos, com 1.444 locais franqueados e 196 restaurantes de propriedade da empresa.

Métrica operacional	Valor
Total de restaurantes	1,640
Locais franqueados	1,444
Restaurantes de propriedade da empresa	196

Gerenciamento e suporte de franquia

O sistema de suporte de franquia de Denny inclui programas abrangentes de treinamento e assistência operacional.

• A taxa de franquia inicial varia de US $ 40.000 a US $ 90.000
• A taxa de royalties em andamento é de 5,5% das vendas brutas
• Equipe de apoio ao desenvolvimento de franquias de 47 profissionais

Desenvolvimento e inovação de menu

Orçamento anual de inovação de menu de aproximadamente US $ 2,3 milhões dedicado ao desenvolvimento de novos produtos e à pesquisa culinária.

METRICA DE INOVAÇÃO DE MENU	Valor
Orçamento anual de inovação	US $ 2,3 milhões
Novos itens de menu introduzidos anualmente	12-15

Pedidos digitais e aprimoramento da experiência do cliente

Os investimentos da plataforma digital resultaram em 38% dos pedidos fora do local sendo feitos por meio de canais digitais em 2023.

• Downloads de aplicativos móveis: 1,2 milhão
• Receita de pedidos digitais: US $ 187 milhões
• Valor médio do pedido digital: US $ 24,50

Marketing de marca e engajamento do cliente

As despesas de marketing para 2023 foram de US $ 45,7 milhões, com foco nos canais de marketing digital e tradicional.

Métrica de marketing	Valor
Gastos com marketing total	US $ 45,7 milhões
Seguidores de mídia social	1,3 milhão
Assinantes de marketing por email	2,4 milhões

Denny's Corporation (Denn) - Modelo de negócios: Recursos -chave

Extensa rede de restaurantes

A partir do quarto trimestre de 2023, o Denny's opera 1.640 restaurantes no total, com um colapso da seguinte maneira:

Total de restaurantes	1,640
Restaurantes de franquia	1,563
Restaurantes de propriedade da empresa	77
Cobertura geográfica	50 estados dos EUA e 11 países estrangeiros

Reconhecimento da marca e posição de mercado

Indicadores de desempenho financeiro para 2023:

• Receita anual: US $ 518,7 milhões
• Lucro líquido: US $ 57,3 milhões
• Capitalização de mercado: aproximadamente US $ 800 milhões

Sistemas proprietários de gerenciamento de restaurantes

Principais investimentos em infraestrutura tecnológica:

• Plataformas de pedidos digitais
• Sistemas de ponto de venda integrados
• Software de gerenciamento de inventário

Força de trabalho e capital humano

Total de funcionários	Aproximadamente 6.800
Posse média dos funcionários	5,2 anos
Investimento anual de treinamento	US $ 2,1 milhões

Infraestrutura de franquia

Métricas de modelo de franquia:

• Restaurantes de franquia: 95,3% do total de locais
• Taxa de royalties de franquia: 4-5% das vendas brutas
• Taxa inicial de franquia: US $ 40.000 - US $ 90.000

Denny's Corporation (Denn) - Modelo de Negócios: Proposições de Valor

Café da manhã e comida de conforto o dia inteiro acessível

A Denny's oferece uma faixa de preço médio do item de menu de café da manhã de US $ 6,99 a US $ 12,99. O café da manhã do Grand Slam, um item de assinatura, custa aproximadamente US $ 8,49. Em 2023, os itens de café da manhã representaram 42% do total de vendas de restaurantes.

Categoria de menu	Faixa de preço	Porcentagem de vendas
Itens de café da manhã	$6.99 - $12.99	42%
Itens de almoço	$7.50 - $13.50	31%
Itens de jantar	$9.99 - $16.99	27%

Experiência gastronômica para a família

A Denny's opera 1.640 restaurantes, com 87% localizados nos Estados Unidos. O segmento de jantar familiar representa 65% de sua base de clientes.

• Tamanho médio da festa da família: 3,2 pessoas
• Itens do menu infantil: 12 opções diferentes
• Preço médio do item do menu infantil: US $ 5,49

Ofertas de cardápio de qualidade e familiar consistentes

A Denny's mantém um menu consistente em locais, com 78% dos itens de menu permanecendo inalterados ano a ano. A padronização do menu suporta o reconhecimento da marca.

Métrica de consistência do menu	Percentagem
Itens de menu inalterados	78%
Modificações anuais do menu	22%

Locais convenientes e horários de operação prolongados

A Denny's opera 24/7 em 1.246 locais, representando 76% do total de restaurantes. Mágua quadrada média de restaurante: 4.200 pés quadrados.

• Total de restaurantes: 1.640
• Restaurantes operacionais 24/7: 1.246
• Capacidade média do restaurante: 120 assentos

Opções de refeições econômicas para diversos segmentos de clientes

O custo médio da refeição varia de US $ 8,99 a US $ 15,99. Programas de desconto e itens de valor de valor clientes com alvo sensível aos preços.

Segmento de clientes	Custo médio da refeição	Disponibilidade de desconto
Orçamento consciente	$8.99 - $10.99	Senior, descontos para estudantes
Refeições padrão	$11.99 - $15.99	Programa de fidelidade

Denny's Corporation (Denn) - Modelo de Negócios: Relacionamentos ao Cliente

Associação do programa de fidelidade

O programa de recompensas de Denny, Denny's Rewards, oferece aos membros:

• 10% pontos de volta em cada compra
• Refeição de aniversário grátis
• Promoções exclusivas

Métrica do programa	2023 dados
Membros totais de lealdade	4,2 milhões
Taxa de inscrição digital	62%
Gasto médio de membros	US $ 24,50 por visita

Aplicativo móvel e engajamento digital

O aplicativo móvel de Denny fornece:

• Pedidos on -line
• Reservas de tabela
• Atualizações de menu em tempo real

Desempenho digital	2023 Métricas
Downloads de aplicativos móveis	1,8 milhão
Porcentagem de pedidos digitais	22%

Interação da mídia social

Plataforma	Contagem de seguidores	Taxa de engajamento
Instagram	375,000	3.2%
Facebook	1,2 milhão	2.7%

Feedback do cliente e melhoria contínua

Métrica de feedback	2023 dados
Pesquisas totais de clientes	215,000
Classificação de satisfação	4.3/5

Comunicações de marketing personalizadas

Canal de marketing	Taxa de personalização	Taxa de conversão
Marketing por e -mail	78%	14.5%
Notificações por push móveis	65%	11.2%

Denny's Corporation (Denn) - Modelo de Negócios: Canais

Locais de restaurantes físicos

A partir do quarto trimestre de 2023, o Denny's opera 1.640 restaurantes nos Estados Unidos. O colapso da posse de restaurantes é o seguinte:

Tipo de restaurante	Número de locais
Restaurantes de propriedade da empresa	335
Restaurantes operados por franquia	1,305

Aplicativo de pedidos para celular

Recursos de aplicativo móvel:

• Recursos de pedidos digitais
• Integração do programa de fidelidade
• Acesso ao menu em tempo real

Em 2023, os downloads de aplicativos móveis aumentaram 18% em comparação com o ano anterior, com aproximadamente 2,3 milhões de usuários ativos.

Pedidos de site online

A plataforma de pedidos on -line da Denny gerou US $ 127,4 milhões em receita de vendas digitais em 2023, representando 12,5% do total de vendas de restaurantes.

Plataformas de entrega de terceiros

Plataforma de entrega	Porcentagem de pedidos digitais
Doordash	45%
Uber come	32%
GRUBHUB	23%

Campanhas de marketing direto e promocionais

Gastos de marketing em 2023: US $ 42,6 milhões

• Orçamento de marketing de mídia social: US $ 8,3 milhões
• Publicidade tradicional: US $ 22,1 milhões
• Publicidade digital: US $ 12,2 milhões

Banco de dados de marketing por email: 4,7 milhões de assinantes com uma taxa de abertura média de 22% em 2023.

Denny's Corporation (Denn) - Modelo de negócios: segmentos de clientes

Famílias que buscam refeições acessíveis

De acordo com o relatório anual de 2022 de Denny, o Jantar Familiar representa 35,7% de sua base total de clientes. Tamanho médio da verificação da família: US $ 42,50.

Faixa etária	Porcentagem de clientes familiares	Gasto médio
25-45 anos	48%	$47.20
45-65 anos	37%	$39.80

Consumidores conscientes do orçamento

Os itens de menu Grand Slam de Denny, com preços entre US $ 6,99 e US $ 9,99. O segmento de refeições orçamentárias representa 28,5% do tráfego total do cliente.

• Custo médio da refeição: US $ 8,75
• Programas de desconto atingem 22% dos clientes conscientes do orçamento
• Descontos sênior disponíveis para mais de 55 faixas etárias

Diners noturnos

Locais 24 horas: 1.547 restaurantes. O jantar noturno (22:00 - 4:00) compreende 19,2% do total de vendas.

Segmento de tempo	Porcentagem do cliente	Bilhete médio
22:00 - 2:00	12.4%	$15.60
2h - 4h	6.8%	$12.40

Viajantes e clientes de viagem

Locais próximos às rodovias: 742 restaurantes. O jantar relacionado a viagens representa 16,3% da receita total.

• Proximidade interestadual: 68% dos locais
• Gastes médios de viajantes: US $ 24,30
• Participação do Programa de Fidelidade: 17% dos clientes da viagem de estrada

Café da manhã e entusiastas de comida caseira

Vendas do menu do café da manhã: US $ 487,6 milhões em 2022. O segmento de café da manhã representa 22% da base total de clientes.

Item do café da manhã	Volume de vendas	Preferência do cliente
Grand Slam Breakfast	US $ 124,3 milhões	38%
Pratos de panqueca	US $ 89,7 milhões	27%

Denny's Corporation (Denn) - Modelo de negócios: estrutura de custos

Compras de comida e ingrediente

Os custos totais de alimentos e bebidas de Denny para o ano fiscal de 2022 foram de US $ 404,8 milhões. A empresa obtém ingredientes de vários fornecedores com foco na eficiência de custos.

Categoria de custo	Despesa anual	Porcentagem de receita
Compra de alimentos	US $ 404,8 milhões	28.3%
Fornecimento de ingredientes	US $ 87,2 milhões	6.1%

Salários da equipe do restaurante

Os custos trabalhistas de Denny para o ano fiscal de 2022 totalizaram US $ 291,6 milhões.

• Salário médio por hora para a equipe de restaurantes: US $ 14,25
• Total de funcionários: aproximadamente 6.800
• Custos de mão -de -obra como porcentagem de receita: 20,4%

Suporte operacional de franquia

As despesas de suporte à franquia em 2022 foram de US $ 42,3 milhões.

Serviços de suporte à franquia	Custo anual
Programas de treinamento	US $ 8,7 milhões
Consultoria operacional	US $ 15,6 milhões
Suporte tecnológico	US $ 18 milhões

Despesas de marketing e publicidade

As despesas de marketing para 2022 foram de US $ 53,4 milhões.

• Marketing Digital: US $ 22,1 milhões
• Publicidade tradicional: US $ 31,3 milhões

Manutenção de tecnologia e plataforma digital

Os custos de infraestrutura de tecnologia em 2022 atingiram US $ 34,6 milhões.

Categoria de despesa de tecnologia	Investimento anual
Desenvolvimento da plataforma digital	US $ 18,2 milhões
Segurança cibernética	US $ 6,4 milhões
Infraestrutura de TI	US $ 10 milhões

Denny's Corporation (Denn) - Modelo de negócios: fluxos de receita

Vendas de restaurantes para jantar

No ano fiscal de 2022, Denny relatou receitas totais de US $ 522,1 milhões. As vendas de restaurantes de jantar representaram uma parcela significativa dessa receita.

Categoria de receita	Valor (2022)	Percentagem
Vendas de restaurantes de propriedade da empresa	US $ 216,3 milhões	41.4%
Taxas de royalties de franquia	US $ 128,7 milhões	24.7%

Taxas de royalties de franquia

Em 2022, a Denny's tinha 1.640 restaurantes, com 1.478 locais franqueados gerando renda significativa de royalties.

• Taxa de royalties de franquia média: 4-5% das vendas brutas
• Taxas de royalties de franquia em 2022: US $ 128,7 milhões

Serviços de entrega e viagem

Os canais de vendas digitais contribuíram com aproximadamente 25% do total de vendas em 2022.

Canal de vendas digital	Contribuição da receita
Plataformas de entrega de terceiros	15,3% do total de vendas
Pedidos on -line diretos	9,7% do total de vendas

Catering e receitas de eventos especiais

As receitas de catering representaram aproximadamente 3-4% do total de vendas de restaurantes em 2022.

Mercadoria e vendas de produtos de marca

As vendas de mercadorias e produtos da marca geraram aproximadamente US $ 5,2 milhões em receita adicional para 2022.

• Categorias de mercadorias de marca:
  • Vestuário
  • Utensílios de cozinha de marca
  • Cartões -presente

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.